DUBLIN, Oct. 25, 2023 /PRNewswire/ — The “Global Liquid Biopsy Market – Outlook & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global liquid biopsy market is poised for substantial growth, with projections indicating a surge to $12.16 billion by 2028 from $3.48 billion in 2022, reflecting a remarkable CAGR of 23.19% during the period from 2022 to 2028. Several key trends and drivers are fueling this market expansion.
MARKET TRENDS & DRIVERS
Increasing Role of Liquid Biopsy as a Companion Diagnostics
Liquid biopsy technologies are advancing rapidly, expanding their role as companion diagnostics. Their non-invasive nature, ability to capture tumor heterogeneity and dynamics, early detection of MRD, real-time treatment response assessment, targeted therapy selection, and biomarker discovery make liquid biopsy an invaluable tool in guiding personalized treatment strategies. The integration of liquid biopsy as a companion diagnostic is transforming the field of precision medicine, leading to more effective and tailored therapeutic approaches for patients.
New Product Launches
The liquid biopsy market has witnessed several notable product launches in recent years, with companies like Guardant Health, Roche, and Illumina introducing innovative solutions. These include new liquid biopsy assays with expanded gene panels, improved sensitivity, and increased accuracy. Advanced platforms and technologies, such as digital PCR and next-generation sequencing (NGS), have also been introduced to enable more comprehensive and precise analysis of circulating biomarkers. Bioinformatics tools and software have been developed to facilitate data analysis and interpretation, enhancing the clinical utility of liquid biopsy.
Higher Patient Preference for Non-invasive Diagnosis and Monitoring
The preference for non-invasive diagnosis and monitoring methods has become a significant driver for the liquid biopsy industry. Patients and healthcare providers increasingly recognize the advantages of liquid biopsy over invasive tissue biopsies, such as reduced procedural risks, minimal discomfort, and the ability to obtain multiple samples over time. Liquid biopsy’s non-invasive nature also allows for easier accessibility, especially in cases where obtaining tissue biopsies may be challenging or impractical. The growing demand for non-invasive diagnostic approaches aligns with the convenience, safety, and potential for real-time monitoring offered by liquid biopsy, contributing to its expanding adoption and market growth.
INSIGHTS BY PRODUCT
The kits & reagents product segment dominated the global liquid biopsy market and is projected to witness the fastest growth rate of over 23% during the forecast period. Liquid biopsy kits and reagents are tools used to detect and diagnose cancer. They are designed to detect and analyze specific biomarkers in bodily fluids, such as blood, urine, or saliva. These tools have revolutionized cancer detection and diagnosis, enabling clinicians to detect and diagnose cancer more accurately, quickly, and cost-effectively than ever before.
INSIGHTS BY SAMPLE TYPE
The global liquid biopsy market by sample type segments into blood and others, with the blood segment holding the largest global market share. Liquid biopsy, involving the extraction of genetic material from a patient’s blood or other bodily fluid for disease diagnosis and prognosis, is a rapidly developing technology in the field of medical diagnostics.
INSIGHTS BY APPLICATION
The global liquid biopsy market by application segments into cancer and non-cancer, with the cancer segment accounting for the largest market share. Liquid biopsy offers a non-invasive and timely diagnostic approach for cancer detection, helping diagnose cancer earlier and with less risk than traditional methods.
INSIGHTS BY BIOMARKER TYPE
The cfDNA & ctDNA biomarker type segment dominated the global liquid biopsy market, accounting for over 41% in 2022. Cell-free DNA (cfDNA) is a rapidly developing technology in liquid biopsy that has opened new possibilities for cancer diagnosis and patient management.
INSIGHTS BY TECHNOLOGY
The next-generation sequencing (NGS) technology segment dominated the global liquid biopsy market in 2022. NGS is a powerful and cost-effective technology that enables the rapid sequencing of large amounts of genetic material, facilitating the detection of cancer-related mutations.
INSIGHTS BY END-USER
The hospital end-user segment accounted for the largest global liquid biopsy market share. Liquid biopsy is becoming more commonplace in hospitals as a versatile and convenient diagnostic tool, offering a non-invasive and cost-effective alternative to traditional tissue biopsies.
North America dominated the global liquid biopsy market, driven by increasing cancer rates and the awareness of the early diagnostic benefits of liquid biopsy technology.
Companies in the global liquid biopsy market compete based on robust clinical validation, regulatory approvals, and advancements in sequencing technologies.
Key players include:
- Agilent Technologies
- F. Hoffmann-La Roche
- Guardant Health
- Thermo Fisher Scientific
- Agena Bioscience
- Bio-Rad Laboratories
- Caris Life Sciences
- Freenome Holdings
- Invitae Corporation
- Laboratory Corporation of America
- Lucence Health
- LungLife AI
- Menarini Silicon Biosystems
- NeoGenomics Laboratories
- Sysmex Corporation
KEY QUESTIONS ANSWERED
- How big is the global liquid biopsy market?
- What is the growth rate of the global liquid biopsy market?
- Which region dominates the global liquid biopsy market share?
- What are the significant trends in the liquid biopsy industry?
- Who are the key players in the global liquid biopsy market?
For more information about this report visit https://www.researchandmarkets.com/r/3tz62b
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Originally published at https://www.prnewswire.com/news-releases/global-liquid-biopsy-market-set-to-soar-to-12-16-billion-by-2028–boasting-an-impressive-23-19-cagr-301967542.html
Images courtesy of https://pixabay.com