Liquid biopsy is a non-invasive medical procedure that holds the ability to detect the presence of molecular cancer biomarkers in biological fluids. The report includes market estimation for tests/ services, instruments, and kits and consumables used for liquid biopsies of different oncology and non-oncology disorders.
The global liquid biopsy market was estimated to be at $2,508.2 million in 2021, which is expected to grow with a CAGR of 19.83% and reach $19,066.0 million by 2032. The growth in the global liquid biopsy market is expected to be driven by increasing adoption of NGS in various research fields, advancement in NGS, and increase in the adoption of personalized medicine.
Liquid biopsy can be used as a better alternative for treatment and recurrence monitoring as it overcomes invasive biopsy challenges of taking a tumor sample again and again during the course of the treatment. Next-generation sequencing (NGS) is a DNA sequencing technology that has transformed genomic research. It is considered a high-throughput technology that helps rapid sequencing of the base pairs in DNA or RNA samples. Next-generation sequencing helps a broad range of applications, for instance, gene expression profiling, chromosome counting, detection of epigenetic changes, and molecular analysis. Next-generation sequencing enables drug discovery and empowers the potential in personalized medicine.
The sequencing methods help to determine mutations in several different genes in a time and cost-efficient manner by producing deep coverage of target sequences. Several technologies have been successfully applied to many different research studies for the identification of new genes and epigenetic changes in the whole genome. These days sequencers are subduing previous limitations in the throughput and accuracy of the genome. The sequencing methods are enhancing their application domains in genomics and data analysis.
Liquid biopsy is an essential part of medical decision-making and aids in obtaining information for a wide range of treatment dissemination. Liquid biopsy has a crucial role in the precision medicine approach, as it confirms the safe and effective application of targeted therapeutics. As described by Cancer.gov, liquid biopsy is carried out on a blood sample to detect circulating tumor cells and pieces of deoxyribonucleic acid (DNA) from tumor cells available in the blood. The technique can be studied as a simple and non-invasive alternative to surgical biopsies.
BIS RESEARCH'S TAKE ON THE INDUSTRY
Which is the dominating technology in the global liquid biopsy market?
The next-generation sequencing segment held the largest share in 2021 and is expected to dominate the market during the forecast period 2022-2032. Next-generation sequencing (NGS) is a breakthrough replacing conventional liquid biopsy technologies, such as immunohistochemical (IHC, polymerase chain reaction (PCR), and in situ hybridization (ISH). The technology allows improved cost-effectiveness, speed, and higher throughput analyzes coupled with enhanced sensitivity and specificity. Owing to the fact that cancer is a multiparametric molecular ailment, it is necessary that the simultaneous screening of a vast number of genes should be intuitively more efficient than a gene-by gene approach. Mutations in cancer can be either passengers or drivers. The identification of drivers has been established as quintessential for therapeutic selection and associated treatment decisions. The global liquid biopsy market (next-generation sequencing) was estimated to have a value of $1,443.5 million in 2021 and is expected to grow at a CAGR of 19.96% during the forecast period 2022-2032, to attain a value of $11,118.3 million by 2032 The following figure depicts the global liquid biopsy market (next-generation sequencing).
Which is the fastest-growing region in the global liquid biopsy Market?
Asia-Pacific is expected to witness the highest compound annual growth rate (CAGR) of 21.61% during the forecast period 2022-2032. The growth in the Asia-Pacific market is expected to be further enhanced by other factors such as an increase in healthcare awareness, a steady economy leading to a higher focus on genomic research, and the widespread adoption of genome sequencing as the standard of care.
Who are the key competitors (Product Manufacturers) in the global Liquid Biopsy Market?
Major players, including Guardant Health, Illumina, Inc., and Thermo Fisher Scientific Inc., have their research-based liquid biopsy panels. Guardant Health (Product Manufacturers) was estimated to dominate the global liquid biopsy market by holding approximately 17.96% of the market share in 2021, compared to 16.65% in 2020. This market dominance was attributed to the company's expansive portfolio catering to the market.
Thermo Fisher Scientific Inc. was also instrumental in catering to a very large customer base in 2021, with a market share of 14.94%. This was majorly attributed to its liquid biopsy offerings products with the exceptional response from all major end users and a stronghold on the US market. Other major companies, such as QIAGEN, were also instrumental in catering to a wide range of consumers, primarily due to its most popular product, AdnaTest LungCancer. The company witnessed slight growth from 2020 and held a share of 13.47% in 2021, compared to the 13.09% share it held in 2020. For the market share analysis, product-based revenue generated by each company have been considered. In 2020, the market share of the global liquid biopsy market was calculated based on the views of industry experts, product portfolios,
Recent Developments in the Global Liquid Biopsy Market
• Product Launch in 2020: Sysmex Corporation launched liquid biopsy RUO kits in EMEA region. The kits name is Plasma-SeqSensei, and it is used for non-small cell lung cancer (NSCLC), melanoma, and thyroid cancer.
• Partnership: In 2021, Illumina, Inc. collaborated with Bristol Myers Squibb to innovate and enhance companion diagnostics for therapy selection to further precision oncology. TSO 500 ctDNA is one of the first liquid biopsy assays to enable comprehensive genomic profiling for therapy selection.
• Collaboration: In 2021, QIAGEN collaborated with Sysmex Corporation for the development and commercialization of cancer companion diagnostics using NGS and Plasma-Safe-SeqS technology.
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities in the global liquid biopsy market?
- What are the key development strategies which are implemented by the major players to sustain in the competitive market?
- Which is the dominant product type developed by the leading and emerging players for liquid biopsy?
- What are the key technologies that have been used by leading players in the global liquid biopsy market to develop diagnostic and research solutions for cancer?
- How is each segment of the market expected to grow during the forecast period from 2022 to 2032? Following are the segments:
- Offering (testing service, kits, other consumables, and platform)
- Technology (next-generation sequencing (NGS), polymerase chain reaction (PCR), other technologies, and emerging technologies)
- Usage (research and clinical)
- Circulating Biomarker (circulating tumor cells, cell-free DNA, circulating cell-free RNAs, exosomes and extracellular vesicles and others, and other circulating biomarkers)
- Workflow (sample preparation, library preparation, sequencing, and data analysis and management)
- Sample (blood, urine, saliva and others)
- Indication (lung cancer, breast cancer, prostate cancer, colorectal cancer, melanoma, other types of cancer, and non-oncology disorder)
- Clinical Application (treatment monitoring, prognosis and recurrence monitoring, treatment selection and diagnosis and screening)
- End User (academic and research institutions, clinical laboratories, pharmaceutical and biotechnology companies, and other end users)
- Region (North America, Europe, Asia-Pacific, Latin America and Middle East, and Rest-of-the-World)
- Which companies are anticipated to be highly disruptive in the future, and why?
- What are the reimbursement scenario and the regulations for liquid biopsies globally?
- Considering next-generation sequencing (NGS), what is the most important factor among price, sensitivity, and turnaround time, to increase the adoption of NGS-based liquid biopsy in the near future?
- From the end-users' point of view, does efficiency or convenience hold the key to driving the global liquid biopsy market?
- What are your treatment guidelines for the different types of cancer?
- What is the average number of liquid biopsies being conducted on each patient throughout the duration of their stay?
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