Overview and Scope
Liquid biopsy for cancer diagnostics is a less invasive method than traditional tissue biopsies, which include evaluating genetic material or biomarkers discovered in a patient’s blood or other bodily fluids to find and monitor the presence of cancer. It is commonly used for screening and identifying non-small cell lung cancer (NSCLC) and as a gastrointestinal and ovarian liquid biopsy for cancer diagnostics.
Sizing and Forecast
The liquid biopsy for cancer diagnostics market size has grown rapidly in recent years. It will grow from $7.82 billion in 2023 to $9.17 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to advancements in genomic research, growing awareness of liquid biopsy benefits, increased prevalence of cancer, rise in demand for non-invasive cancer testing, expansion of precision medicine initiatives.
The liquid biopsy for cancer diagnostics market size is expected to see rapid growth in the next few years. It will grow to $16.42 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to integration of liquid biopsy in routine cancer diagnostics, adoption of liquid biopsy for early cancer detection, expansion of cancer screening programs, growing focus on personalized medicine in oncology, increased funding for liquid biopsy research. Major trends in the forecast period include emergence of multi-omics liquid biopsy approaches, integration of artificial intelligence in liquid biopsy analysis, expansion of liquid biopsy applications beyond oncology, development of blood-based biomarkers for cancer, customization of liquid biopsy assays for specific cancer types.
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Segmentation & Regional Insights
The liquid biopsy for cancer diagnostics market covered in this report is segmented –
1) By Type: Product, Services
2) By Sample: Blood, Urine, Saliva
3) By Cancer: Lung Cancer, Breast Cancer, Colon Cancer, Other Cancers
4) By End-User: Hospitals, Diagnostic Centers, Other End-Users
North America was the largest region in the liquid biopsy for cancer diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the liquid biopsy for cancer diagnostics market report during the forecast period. The regions covered in the liquid biopsy for cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising incidence of cancer is expected to propel the growth of the liquid biopsy for cancer diagnostics market going forward. Cancer is a broad category of illnesses that can develop in nearly any organ or tissue in the body when aberrant cells proliferate uncontrollably, cross their usual boundaries, and either spread to other organs or invade neighboring body parts. Cancer increases the need for diagnostic procedures such as early cancer or tumor recurrence detection, risk assessment for each patient, and therapy monitoring to enable liquid biopsy to depict the full scope of the disease as tumor cells or tumor cell products are released from all metastatic or primary tumor sites, providing thorough and real-time information on tumor cell evolution, therapeutic targets, and mechanisms of therapy resistance. For instance, in 2021, According to the American cancer society, 1.8 million new cancer cases diagnosed in 2020. Furthermore, according to September 2020 data published by the National Cancer Institute, a US-based government agency part of the National Institutes of Health, 1,806,590 new cancer cases were recorded, indicating that 43% of all cancer diagnosed in men in the United States in 2020, up from 1,752,735 in the previous year, i.e., 2019. Therefore, the rising incidence of cancer is driving the growth of the liquid biopsy for cancer diagnostics market.
Key Industry Players
Major companies operating in the liquid biopsy for cancer diagnostics market report are F. Hoffman La Roche Ltd., Thermo Fisher Scientific Inc., Agilent Technologies Inc., Illumina Inc., The Menarini Group, Bio-Rad Laboratories Inc., QIAGEN Inc., Exact Sciences Corporation, Bio-Techne Corporation, ArcherDX Inc., Neogenomics Laboratories Inc., Guardant Health Inc., Myriad Genetics Inc., Foundation Medicine Inc., Amoy Diagnostics Co. Ltd., Biocartis Group NV, Biodesix Inc., MDx Health Inc., Sysmex Inostics Inc., Biocept Inc., Agena Bioscience Inc., Laboratory for Advanced Medicine (LAM) Inc., MiRXES Pte Ltd., Inivata Limited, Resolution Bioscience Inc., SAGA Diagnostics AB, NuProbe Inc., Personal Gemone Diagnostics Inc., Pathway Genomics Corporation, Angle PLC
The liquid biopsy for cancer diagnostics market report table of contents includes:
1. Executive Summary
2. Liquid Biopsy For Cancer Diagnostics Market Characteristics
3. Liquid Biopsy For Cancer Diagnostics Market Trends And Strategies
4. Liquid Biopsy For Cancer Diagnostics Market – Macro Economic Scenario
5. Global Liquid Biopsy For Cancer Diagnostics Market Size and Growth
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32. Global Liquid Biopsy For Cancer Diagnostics Market Competitive Benchmarking
33. Global Liquid Biopsy For Cancer Diagnostics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Liquid Biopsy For Cancer Diagnostics Market
35. Liquid Biopsy For Cancer Diagnostics Market Future Outlook and Potential Analysis
36. Appendix
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