Liquid biopsy is a non-invasive blood test that detects and analyzes circulating tumor cells (CTCs), circulating tumor DNA (ctDNA), and exosomes in blood or other bodily fluids to provide critical health information. It is primarily used to determine tumor mutations, guide treatment decisions, track cancer progression and recurrence. Liquid biopsy helps avoid repeat tumor biopsies that are painful, expensive and sometimes infeasible.
The global liquid biopsy market is estimated to be valued at US$ 5.25 Bn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing adoption for non-invasive cancer screening is one of the key drivers propelling the growth of the liquid biopsy market. Traditional tissue biopsy procedures are highly invasive requiring surgical removal of tumor tissues through endoscopy or surgery. Liquid biopsy poses a less invasive alternative to tissue biopsies by detecting and analyzing tumor biomarkers in body fluids like blood. This has increased its acceptance among oncologists for screening, diagnosing and monitoring cancer.
Another major driver is the ability of liquid biopsy to monitor tumor evolution and resistance to guide treatment decisions. Traditionally, tumor biopsies only provide a snapshot of tumor genetics at a single point in time whereas liquid biopsy allows longitudinal monitoring of tumor genetic alterations as cancer progresses and develops resistance to therapy. This crucial information helps physicians modify treatment plans in a timely manner to improve patient outcomes.
SWOT Analysis
Strength: Liquid biopsy tests help detect cancer mutations in blood and allow non-invasive cancer screening and monitoring. They are less invasive than traditional tissue biopsies and have the potential for early detection of multiple cancer types. Rapid diagnostic results can be provided to help physicians customize treatment plans in a timely manner.
Weakness: Liquid biopsy tests are in early stages of development and validation. Clinical utility is still limited for some cancer types and stages. Reliability of tests for early detection of cancer needs further improvement. Widespread clinical adoption requires more evidence from clinical studies.
Opportunity: Growing demand for non-invasive cancer screening and monitoring options represents a major market opportunity. Rising prevalence of cancer worldwide coupled with increasing awareness provides tailwinds. Developing applications in treatment selection and recurrence monitoring can further expand the market.
Threats: Established tissue biopsy procedures continue to dominate clinical practice. Competing non-invasive screening tests such as CT, MRI or blood-based protein biomarker tests can capture market share. Regulatory pathways and reimbursement policies for liquid biopsy tests need to evolve to boost adoption. Stringent validation standards essential for clinical adoption.
Key Takeaways
The Global Liquid Biopsy Market Size is expected to witness high growth on the back of several advantages over tissue biopsy procedures. It allows for non-invasive, real-time screening and monitoring of multiple cancers using a simple blood draw. This enables early detection, recurrence monitoring and treatment selection - key clinical needs in oncology. The global Liquid Biopsy Market is estimated to be valued at US$ 5.25 billion in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030.
Regional analysis indicates North America currently dominates the market owing to presence of advanced healthcare systems, favorable reimbursement policies and active clinical trials. Asia Pacific is anticipated to witness fastest growth during the forecast period supported by growing cancer burden, increasing healthcare expenditure and health awareness in regional countries.
Key players operating in the liquid biopsy market include Guardant Health, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories Inc, Myriad Genetics, Biocept, Inc. and Qiagen N.V. These players have made extensive R&D investments and hold strong product portfolios in ctDNA and CTC-based liquid biopsy tests. They are working towards validating applications, expanding indications and marketing liquids biopsy solutions to facilitate clinical adoption.
For More details on the topic:
https://www.rapidwebwire.com/liquid-biopsy-market-propelled-by-ai-powered-liquid-biopsy-approaches/
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