DUBLIN--(BUSINESS WIRE)--The "Liquid Biopsy Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global liquid biopsy market is expected to grow from $3.4 billion in 2020 to $3.87 billion in 2021 at a compound annual growth rate (CAGR) of 13.8%. The market is expected to reach $7.57 billion in 2025 at a CAGR of 18%.
Major players in the liquid biopsy market are QIAGEN N.V., Roche Diagnostics, Bio-Rad Laboratories Inc., Myriad Genetics, Inc., Guardant Health Inc., Thermo Fisher Scientific, Guardant Health, Menarini Silicon Biosystems, Biocept, Inc. and F. Hoffmann-La Roche AG.
The liquid biopsy market consists of sales of liquid biopsy services and related products used to detect cancer at an early stage. Liquid biopsy is an easy and minimally invasive technology which involves tests done on a blood sample to detect the DNA from tumour cells in the blood. Unlike surgical biopsies it allows medical doctors to find a tumour through a blood test. The liquid biopsy helps in planning further treatment for cancer.
The liquid biopsy market covered in this report is segmented by product into assays kits, instruments, services. It is also segmented by end user into reference laboratories, hospitals and physician laboratories, academic and research centres and by clinical application into early cancer screening, therapy selection, treatment monitoring, recurrence monitoring orthopedics.
Unclear regulations on laboratory developed tests (LDT) for liquid biopsy have always been a major challenge in the liquid biopsy market. A laboratory developed test (LDT) is an in-vitro diagnostic test (IVD) intended for clinical use that is designed, manufactured to be used in a single laboratory.
For instance, in 2019, the Food and Drug Administration (FDA) proposed a plan to increase the regulations for the approval of laboratory developed tests. However, the regulations are unclear and do not reduce the time it takes for the approval of these tests. Following this, the FDA, till 2019, has approved only two liquid biopsy tests.
The first test which identifies EGFR mutations in NSCLC patients was approved in 2016 while the second test for detecting the PIK3CA mutation in patients was approved in 2019. Such delays in the approval of liquid biopsy tests by the FDA are expected to have a negative impact on the liquid biopsy market.
In October 2020, EXACT Sciences Corporation, a USA based molecular diagnostics company with an initial focus on the early detection and prevention of colorectal cancer acquired Thrive Earlier Detection for $2.15 billion. The acquisition of Thrive is a significant move for EXACT Sciences Corporation in ensuring that blood-based, multi-cancer screening becomes a reality and ultimately a standard of care. Thrive Earlier Detection, a USA based healthcare company that integrates earlier cancer detection into routine medical care.
Companies are rapidly adopting new market dynamics and focusing primarily on new product launches, to meet the ever-increasing need for liquid biopsy products and services, to increase their revenue and also for gaining a competitive edge over their rivals.
For instance, In August 2020, Personalis, Inc., a USA based advanced cancer genomics company, revealed the introduction of NeXT Liquid Biopsy, a high-performance, exome-scale, tumor-profiling device that uses blood samples from innovative solid tumour cancer patients. NeXT Liquid Biopsy, combined with Personalis' leading immunoID NeXT tissue profiling tool, allows a more detailed immuno-genomics image of the tumour which can now be tracked over time from blood samples.
These abilities can enable biopharmaceutical businesses improve their knowledge of tumour biology, specifically resistance mechanisms, to help create next-generation cancer therapies. Thus, companies are investing in the development of new products in the liquid biopsy market.
Key Topics Covered:
1. Executive Summary
2. Liquid Biopsy Market Characteristics
3. Liquid Biopsy Market Trends and Strategies
4. Impact Of COVID-19 On Liquid Biopsy
5. Liquid Biopsy Market Size and Growth
5.1. Global Liquid Biopsy Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Liquid Biopsy Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Liquid Biopsy Market Segmentation
6.1. Global Liquid Biopsy Market, Segmentation by Product, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Assays Kits
- Instruments
- Services
6.2. Global Liquid Biopsy Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Reference Laboratories
- Hospitals and Physician Laboratories
- Academic and Research Centers
6.3. Global Liquid Biopsy Market, Segmentation by Clinical Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Early Cancer Screening
- Therapy Selection
- Treatment Monitoring
- Recurrence Monitoring Orthopedics
7. Liquid Biopsy Market Regional and Country Analysis
7.1. Global Liquid Biopsy Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Liquid Biopsy Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- QIAGEN N.V.
- Roche Diagnostics
- Bio-Rad Laboratories Inc.
- Myriad Genetics Inc.
- Guardant Health Inc.
- Thermo Fisher Scientific
- Guardant Health
- Menarini Silicon Biosystems
- Biocept Inc.
- F. Hoffmann-La Roche AG
- Janssen Diagnostics LLC
- Trovagene Inc.
- Fraunhofer-Gesellschaft
- MDX Health SA
- Agilent Technologies Inc.
- Cygnus Biosciences
- Illumina Inc.
- Oxford Nanopore
- Quantum Biosystems
For more information about this report visit https://www.researchandmarkets.com/r/f40q97
