Global Liquid Biopsy Market by Biomarker (CTC, Exosomes), by Technology (NGS, PCR Microarrays) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global liquid biopsy market was valued at USD 7.03 Billion in 2020. It is forecast to grow at a compound annual rate (CAGR of 13.5%) during the forecast period. Market growth is driven by the increasing incidence of cancer and the demand for quick, minimally invasive diagnostic tests. The American Cancer Society estimates that non-small-cell lung carcinoma will be the most prevalent form of lung cancer in America by 2021. Around one in 17 and one in fifteen women are at risk for developing lung cancer during their lifetimes. To diagnose and eradicate cancer in a targeted population, liquid biopsy tests are becoming more important.

As screening programs and diagnosis services have decreased, the time it takes to diagnose cancer is getting longer. The pandemic is causing many problems for cancer patients, including increased susceptibility to severe infections and interruptions in medical care.

Many companies have taken various strategic steps to provide safe and convenient in-home access to liquid biopsy tests, despite the pandemic. NeoGenomics, Inc., for example, launched a mobile service to provide phlebotomy services for liquid biopsy tests, including InvisionFirst and NeoLAB, in November 2020. Metro Health Staffing LLC and ExamOne are the two phlebotomy firms that offer its service. This allows for a wider geographic coverage, which ensures efficient testing. Liquid biopsy is an effective alternative to traditional screening in these situations. This technology aids in early detection of cancer and helps to prevent the disease from reaching a point that could adversely impact a patient's ability to live. The liquid biopsies are highly sensitive and rely on blood tests. They can also reduce the risk of COVID-19 infection during the procedure. This is expected to play a significant role in driving global market growth.

Cornell University researchers are creating a liquid biopsy test to detect and measure damage to cells, tissues, and organs caused by COVID-19. This test will assess the severity of the condition and project the results. It can also reveal the involvement of different organs in the disease. This will increase R&D funding and stimulate market growth.

Technology Insights

Multi-gene Parallel Analysis (NGS), which accounted for 73% of the global market's largest revenue share in 2020, is expected to continue its dominance during the forecast period. NGS technology is able to detect mutations that could cause tumorigenesis, and can also detect resistance mechanisms that might have evolved from pre-existing or treated clones.

Recent advances in NGS technology have resulted in significant cost savings in sequencing. This has also allowed for high accuracy and precision. This technology allows for screening unknown variants and targeted panels to detect ctDNA mutations. NGS can detect 59% or more stage 1 and 2 lung cancer patients, with MAF of 0.1%.

Key operating players have also introduced new products that are driving the market. Twist Bioscience Corp., for liquid biopsy and epigenetic analysis, launched Twist NGS Methylation Detection Systems in February 2021. Biodesix, Inc. also announced its intention to launch a 52-gene NGS blood test in order to expand its molecular testing portfolio.

Biomarker Insights

The largest revenue share, 36.68%, was attributed to Circulating Nucleic Acids in 2020. The segment is driven by the wide use of circulating tumor DNA (ctDNA), in liquid biopsy of breast cancer. The recent development of ctDNA-based liquid biopsy analysis has opened up new avenues for molecular diagnosis and monitoring. It can accurately determine tumor progression and prognosis.

Researchers in translational cancer are now using liquid biopsies for the detection of ctDNA from tumours. Future liquid biopsy applications will have a lot of potential for detecting cancer using ctDNA as a biomarker. CtDNA is an alternative to invasive procedures and can be used to perform molecular profiling for tumor DNA in cancer patients.

Exosomes/Microvesicles are anticipated to grow with the fastest CAGR from 2021 to 2028. The segment's growth is driven by the increasing use of exosomes in clinical oncology diagnosis and the introduction of new products. miR Scientific presented data on its miR Sentinel Prostate Cancer Test in September 2021 at the American Urological Association (AUA) 2021 Annual Conference. The exosome-based liquid biopsy test detects prostate cancer using a single sample of urine. It has a 90% accuracy.

Examples of Type Insights

With a market share of 69%, blood sample-based tests were the most popular. Blood-based tests are non-invasive and pose no risk. They also don't require any pain relief. It also reduces the time and cost of diagnosis. The blood sample can detect CTCs and cfDNAs as well as exosomes as well as microvesicles. This increases the use of blood-based liquid biopsies.

The circulating blood biomarkers play an important role in understanding tumorigenesis. They can also help to determine the timing of treatment and how far along the disease process is. The market will also be driven by ongoing research into blood-based cancer tests.

Exact Sciences and UW-Madison began working together on liquid biopsies to detect genetic mutations in cancerous tumors. This test is able to detect the possibility of recurrence after treatment and can help in early detection.

Regional Insights

North America had the highest revenue share, with over 51% in 2020. Due to increased investments and the presence a number biotechnology companies that develop the tests, the U.S. leads the regional market. The liquid biopsy is supported by various organizations such as the American Society of Clinical Oncology. This will, in turn, boost market growth in the region.

Canada is following the U.S. lead in adopting liquid biopsy tests. Only FDA-approved tests can be used in Canada. Market growth is expected to be driven by the competition in the market by biotechnology companies. The market will be boosted by an increase in government grants and investments for liquid biopsy tests development.

BioMark Diagnostic Solutions Inc. was awarded USD 825,000 funding in June 2021 to help develop BioMark's liquid biopsy test for the screening of lung cancer. The Consortium for Industrial Research and Innovation in Medical Technology and Spark Grants from the Canadian Cancer Society, Brain Canada Foundation and Canadian Institutes of Health Research-Institute of Cancer Research account for a large portion of this funding.

Market Share Insights & Key Companies

Market players are helping to grow the market by increasing their cancer diagnostics portfolios. This is leading to an increase of liquid biopsy products.

F. Hoffmann-La Roche AG was one of the most prominent industry players in the global market. The company announced in August 2020 that its FoundationOne Liquid CDx was approved by the U.S. FDA for the diagnosis of solid tumors.

FDA approved the BRACAnalysisCDx test from Myriad Genetics in May 2020 for companion diagnostic use by physicians to detect metastatic castration resistant prostate cancer in men. This test is only available to Lynparza-eligible patients. These are some of the major players in the global liquid biopsy market:

• QIAGEN

• Myriad Genetics, Inc.

• BIOCEPT, Inc.

• Guardant Health, Inc.

• F. Hoffmann-La Roche Ltd.

• Illumina, Inc.

• Angle plc

• Oncimmune

• Thermo Fisher Scientific, Inc.

• Lucence health Inc.

• FreenomeHoldings, Inc.

• EPIGENOMICS AG

Up Market Research published a new report titled “Liquid Biopsy Market research report which is segmented by Biomarker (CTC, Exosomes), by Technology (NGS, PCR Microarrays), By Players/Companies Adaptive Biotechnologies, Qiagen, NeoGenomics Laboratories, Biocept, RainDance Technologies, Guardant Health, Personal Genome Diagnostics, Trovagene, Cynvenio”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Liquid Biopsy Market Report Segments:

The market is segmented by Biomarker (CTC, Exosomes), by Technology (NGS, PCR Microarrays).

Liquid Biopsy Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Liquid Biopsy Market

Overview of the regional outlook of the Liquid Biopsy Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Liquid Biopsy Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Liquid Biopsy Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. CTC

                2. Exosomes

                1. NGS

                2. PCR Microarrays

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Liquid Biopsy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
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Reasons to Purchase the Liquid Biopsy Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.