|Liquid Biopsy Market Share To Reach Scalable Heights Of Growth By 2029|
Liquid Biopsy Industry Overview
The global liquid biopsy market size was valued at USD 7.03 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 13.5% during the forecast period.
The increasing prevalence of cancer coupled with the rise in demand for fast, minimally invasive diagnostic tests drives the market growth. According to the American Cancer Society, in 2021, 235,760 people are estimated to be diagnosed with non-small-cell lung cancer, the most common form of lung cancer in the U.S. Overall, around one in 17 men and one in 15 women are at risk of developing lung cancer in their lifetime. Thus, the need for the implementation of liquid biopsy tests is growing to diagnose and eradicate cancer in a target population.
Gather more insights about the market drivers, restrains and growth of the Global Liquid Biopsy Market
With the onset of the COVID-19 pandemic, cancer diagnoses are getting delayed as diagnosis services and screening programs have reduced. Cancer patients are facing many challenges amid the pandemic, such as susceptibility to severe infection and interruption of cancer or usual medical care.
Amidst the pandemic, several companies have adopted various strategic initiatives for providing safe and easy in-home access for liquid biopsy tests. For instance, in November 2020, NeoGenomics, Inc. launched a mobile phlebotomy service for liquid biopsy tests, including NeoLAB and InvisionFirst. The company offers its service through two phlebotomy companies, ExamOne and Metro Health Staffing LLC, for broad geographic coverage to ensure tests are performed efficiently. In these cases, liquid biopsy provides an efficient alternative to traditional screening. The technology assists in early cancer detection and prevents the disease to reach a stage when it can adversely affect a patient’s survival. Liquid biopsies are extremely sensitive and are based on blood tests. In addition, they can reduce the risk of COVID-19 transmission during the procedure, which is expected to be a major factor fueling the global market growth.
Researchers from Cornell University are developing a liquid biopsy test that can detect and measure injury to cells, tissue, and organs due to COVID-19. The test is to evaluate the severity of the disease and project their outcomes. In addition, it can reveal the involvement of various organs in the disorder. This is expected to increase R&D funding, further stimulating market growth.
Browse through Grand View Research’s Clinical Diagnostics Industry Research Reports.
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Liquid Biopsy Market Segmentation
Grand View Research has segmented the global liquid biopsy market on the basis of sample type, biomarker, technology, and region:
Liquid Biopsy Sample Type Outlook (Revenue, USD Million, 2017 – 2028)
- Blood Sample Based
Liquid Biopsy Biomarker Outlook (Revenue, USD Million, 2017 – 2028)
- Circulating Nucleic Acids
- Circulating Proteins
Liquid Biopsy Technology Outlook (Revenue, USD Million, 2017 – 2028)
- Multi-gene-parallel Analysis (NGS)
- Single Gene Analysis (PCR Microarrays)
Liquid Biopsy Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- August 2021: A research group at Exact Sciences and UW-Madison started working on liquid biopsies for cancer, including a blood test that helps detect genetic mutations in tumors targeted by drugs.
- April 2021: Biodesix, Inc. declared its plan to launch a blood-based 52-gene NGS test to enhance its portfolio of molecular testing.
Key Companies profiled:
Some prominent players in the global liquid biopsy market include
- Myriad Genetics, Inc.
- BIOCEPT, Inc.
- Guardant Health, Inc.
- F. Hoffmann-La Roche Ltd.
- Illumina, Inc.
- Angle plc
- Thermo Fisher Scientific, Inc.
- Lucence health Inc.
- FreenomeHoldings, Inc.
- EPIGENOMICS AG
Order a free sample PDF of the Liquid Biopsy Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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