The Liquid Biopsy market is estimated to be valued at Us$ 13,220.0 Mn or Bn in 2022 and is expected to exhibit a CAGR Of 4.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Liquid biopsy utilizes body fluids like blood, urine, and saliva samples for non-invasive detection of cancer. It analyses circulating tumor DNA (ctDNA), circulating tumor cells (CTCs), and exosomes that are shed by tumors into the bloodstream. This allows doctors to monitor disease progression or recurrence without repeated tissue biopsies. The technique is useful for various cancer types like lung, breast, gastrointestinal and prostate.

Market Dynamics:

The liquid biopsy market is driven by advancements in diagnostic technologies as well as an increasing prevalence of cancer worldwide. Continuous technological progress has led to highly sensitive assays that can detect even a few mutated DNA molecules in blood samples. This helps in early detection of cancer which improves treatment outcomes. Furthermore, rising cancer incidence poses a huge clinical need for improved monitoring solutions. According to WHO, global cancer burden is expected to rise from 18.1 million new cases in 2018 to 29.5 million by 2040. Non-invasive approaches like liquid biopsy help address this challenge by facilitating repeated molecular profiling over the course of disease and treatment.

SWOT Analysis

Strength: The liquid biopsy market is growing significantly due to its ability to detect cancer at an early stage. It provides a non-invasive alternative to surgical tissue biopsies. Liquid biopsy helps in sequential monitoring of cancer during and after treatment without repeated surgery.

Weakness: Liquid biopsy tests are more expensive than regular tissue biopsies. There are technical challenges in detecting and analysing rare circulating tumor cells and cell-free DNA in blood.

Opportunity: Rising incidence and prevalence of cancer is creating demand for advanced diagnostic techniques like liquid biopsy. Growing funding by governments and private entities for development of liquid biopsy tests will drive market growth.

Threats: Reimbursement issues related to liquid biopsy testing can negatively impact market growth. Stringent regulatory framework for approval of liquid biopsy tests restrains the market.

Key Takeaways

The global Liquid Biopsy Market size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to rising prevalence of cancer worldwide. As per estimates, there were over 19.3 Mn new cancer cases and 10 Mn cancer deaths occurred in 2022. Liquid biopsy provides an attractive alternative to surgical biopsies, facilitating non-invasive cancer screening and monitoring.

Regional analysis - North America dominated the global liquid biopsy market in 2022, accounting for over 30% market share. This was attributed to huge healthcare spending and presence of leading market players in the region. Asia Pacific is expected to grow at the fastest pace, owing to rising cancer burden, improving healthcare infrastructure and increasing awareness.

Key players operating in the liquid biopsy market are Guardant Health, F. Hoffmann-La Roche Ltd, Myriad Genetics, Qiagen, Thermo Fisher Scientific, Sysmex Corporation, Bio-Rad Laboratories Inc, Illumina Inc and MDxHealth. These companies have leading market share due to strong portfolio of liquid biopsy tests and robust geographical presence across global markets.

Read More : https://marketinsightsminds.blogspot.com/2023/10/liquid-biopsy-market-is-estimated-to.html