A recent market analysis conducted by Future Market Insights (FMI) projects that the global liquid biopsy market is expected generate US$ 1,026 Million in revenue in 2021. By 2031, the market is anticipated to reach US$ 3,637 Million, growing at a CAGR of 13.49%.
Liquid Biopsy Market Overview:
The global liquid biopsy market report begins by defining liquid biopsy and various types of markers used in liquid biopsy. It is followed by an overview of market dynamics of the global liquid biopsy market, which includes FMI’s analysis of key trends, drivers, restraints and opportunities, and reimbursement scenario that is influencing the growth of the liquid biopsy market. It also includes an insight into case-studies and product pipeline. Impact analysis of key growth drivers and restraints based on a weighted average model have been included in the global liquid biopsy market report after detailed analysis of individual regions to better equip readers with meaningful insights on ongoing developments in the oncology market.
The primary factors fueling demand for liquid biopsy diagnostic tests are growing incidences of lung, gastrointestinal and breast cancer. Other factors driving demand for liquid biopsy tests are increasing inclination of oncologists and physician to opt for non-invasive diagnostic procedures, reluctance of the patients to go painful biopsies and increase in the demand of personalized medicine.
Whereas increasing number of test launches and entry of regional players also drives the market for liquid biopsy tests. However, a primary factor hampering growth of the liquid biopsy market is its penetration owing lower awareness of blood tests to detect cancer.
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Based on market type, the market has been segmented into circulating tumour cells (CTCs), Circulating tumour Nucleic Acids (ctNA) and exosomes. A detailed analysis has been provided for these segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.
Based on sample type, the market has been segmented into blood, urine and others (plasma, saliva, CSF). Our analysis predicts that biopsies through blood samples would increase at a very fast pace, increasing the number of blood diagnostic test to detect cancer is expected to contribute significantly to increasing demand for liquid biopsies the forecast period.
Based on the disease indication the liquid biopsy market has been segmented into lung cancer, gastrointestinal cancer, prostate cancer, breast cancer, colorectal cancer, leukemia and others. Lung cancer is expected to expand at a higher CAGR, due to increasing prevalence of lung cancer over the forecast period. Further, based on end-user segmentation, the market is segmented into hospitals, cancer institutes, academic institutes and diagnostic centres. Increasing commercialization of liquid biopsy test is expected to increase the revenue generation of liquid biopsies from hospitals and diagnostic centres surgery. This trend is expected to be particularly prominent in countries where access to healthcare services is increasing especially in APEJ
The next section of the report highlights liquid biopsy market by region and provides market outlook for 2016–2026. The report also discusses key regional trends contributing to the revenue growth of the liquid biopsy tests worldwide, as well as analyses the impact of drivers and restraints in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East & Africa (MEA).
The above sections—by marker type, sample type, disease indication, end users and region—evaluate the present scenario and growth prospects of the liquid biopsy tests market for 2016–2026. We have considered 2015 as the base year and provided data for the forecast period, i.e., 2016–2026.
To ascertain liquid biopsy tests market size, we have also considered revenue generated by companies in liquid biopsy market space. The forecast presented here assesses the total revenue by value across the liquid biopsy market. In order to offer an accurate forecast, we started by sizing up the current market, which forms the basis of how the liquid biopsy market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis based on supply side, downstream industry demand, and the economic envelope.
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In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse it based on key parameters such as year-on-year (Y-o-Y) growth rates to understand the predictability of the market, and to identify the right opportunities across the global liquid biopsy market.
The liquid biopsy market segments in terms of marker type, sample type, disease indication, end user, and regions. These segments are analysed in terms of Basis Point Share (BPS) to understand individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the liquid biopsy market.
Detailed profiles of the liquid biopsy tests developing companies are also included in the scope of the report to evaluate their long- and short-term strategies, key offerings, SWOT analysis, and recent developments in the global liquid biopsy market.
Key competitors covered in terms of liquid biopsy test developing companies BIOCEPT, INC., Qiagen N.V., Trovagene, Inc., Janssen Global Services, LLC, MDxHealth SA, Natera, Inc., F. Hoffmann-La Roche Ltd., Silicon Biosystems, Pathway Genomics Corporation, Sysmex Corporation.
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Key Market Segmentation:
- By Marker Type
- CTCs (Circulating tumour Cells)
- ctNA (Circulating tumour Nucleic Acids)
- By Sample Type
- Others (Plasma, Saliva, CSF)
- By Disease Indication
- Lung Cancer
- Gastrointestinal Cancer
- Prostate Cancer
- Breast Cancer
- Colorectal Cancer
- By End-User
- Cancer Institutes
- Academic Institutes
- Diagnostic Centers
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