The global Liquid Biopsy Market size is expected to reach USD 19.35 billion by 2028, registering a CAGR of 13.5% during the forecast period, according to a new report by Grand View Research, Inc. It is a revolutionary technique that has created various opportunities that were previously unexplored.
It aids in the detection and isolation of circulating tumor DNA, exosomes, and circulating tumor cells and is a source of proteomics and genomics information in cancer patients. Rapid development in digital Polymerase Chain Reaction (PCR) and NGS-based technology has improved the accuracy of liquid biopsy. It can be performed repeatedly for disease monitoring and is anticipated to help overcome the limitations of tissue biopsies.
As liquid biopsies are the most promising novel techniques for cancer care, established as well as emerging companies have increased their R&D to develop novel liquid biopsy solutions. For instance, in September 2021, AnchorDx Medical Co., Ltd.; a China-based developer of early cancer detection and oncology screening solutions developed a diagnostic model for early breast cancer detection. The model is based on the methylation patterns of cfDNA.
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Liquid Biopsy Market Report Highlights
- The Multi-gene Parallel Analysis (NGS) technology segment held the largest revenue share of the global market in 2020
- This can be attributed to rapid enhancements in NGS technology. With this technology, liquid biopsies are anticipated to gain considerable importance in cancer-related studies and research
- On the basis of sample type, blood sample-based tests dominated the market in 2020
- Blood samples can readily be taken at a more frequent interval, thus increasing the adoption rate
- Circulating Nucleic Acids are the most commonly used biomarker for liquid biopsy tests
- The factors, such as the constantly evolving pipeline of ctDNA-based liquid biopsy tests, an increasing number of commercialized products, and the potential of ctRNA in determining molecular profile have contributed to the dominance of this segment
- North America is expected to be the largest revenue-generating region by 2028 owing to a high incidence of cancer, rapid technological advancements, and the presence of key players in the region
- Key players are focused on business expansion through product launches, mergers & acquisitions, agreements, partnerships, and other growth strategies
- For instance, in June 2021, Biocept, Inc. collaborated with Quest Diagnostics to provide advanced NGS-based liquid biopsy testing for lung cancer patients