$19 Billion Liquid Biopsy Markets, 2032 - Increasing Adoption of Inorganic Growth Strategies in the Market

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Jun 23, 2022, 09:45 ET

DUBLIN, June 23, 2022 /PRNewswire/ -- The "Liquid Biopsy Market - A Global and Regional Analysis: Focus on Offering, Usage, Workflow, Circulating Biomarker, Sample, Technology, Clinical Application, End User, and Region - Analysis and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.

The global liquid biopsy market was estimated to be at $2,508.2 million in 2021, which is expected to grow with a CAGR of 19.83% and reach $19,066.0 million by 2032.

The growth in the global liquid biopsy market is expected to be driven by increasing adoption of NGS in various research fields, advancement in NGS, and increase in the adoption of personalized medicine.

The North America region is expected to dominate the global liquid biopsy market during the forecast period 2022-2032. North America has a high adoption rate of liquid biopsy. Backed by several healthcare companies working in the marketplace, the U.S. has the highest implementation of PCR, NGS, and other technologies.

Market Lifecycle Stage

The report includes market estimation for tests/services, instruments, kits and consumables used for liquid biopsies of different oncology and non-oncology disorders. Liquid biopsy has a critical role in the precision medicine approach, as it confirms the safe and effective application of targeted therapeutics.

The global liquid biopsy market is still in the nascent phase. Significant increase in the research and development activities pertaining to next-generation sequencing are underway to develop NGS products and services, which are expected to increase due to the rising number of chronic disease burdens such as cancer. Liquid biopsy is a non-invasive medical procedure which holds the ability to detect the presence of molecular cancer biomarkers in biological fluids.

A liquid biopsy helps physicians to analyze tumor-related information through a simple blood test. As researchers are generating data that have the potential to lead to unprecedented biological insight, albeit at the cost of the greater complexity of data analysis. Increasing investments in R&D of liquid biopsy products and services and various research fundings is one of the major opportunities in the global liquid biopsy market.

Rising global prevalence of cancers and the growing need for early detection coupled with efficient treatment monitoring and recurrence detection is anticipated to support the growth of the global liquid biopsy market during the forecast period 2022-2032.

The market is expected to grow at a significant growth rate due to opportunities such as the introduction of informatics and technological innovations for a large customer base and increasing adoption of cancer and other disease testing services.

Impact of COVID-19

The current global liquid biopsy market comprises various indications such as lung cancer, breast cancer, prostate cancer, and many others. It has been noticed that there has been a reduction in the capacity or shutdowns of laboratories and other research institutions, which have led to reduced usage of various products and services related to research.

The government imposed various restrictions during COVID-19, such as travel bans, quarantines, curfews, business shutdowns, and closures. This led to an increased cost of the COVID-19-related services. There have been many issues during the COVID-19 pandemic, such as operational failures, shipping issues, inaccurate demand forecasts, and other production issues.

Furthermore, the health and the safety of employees were impacted as COVID-19 reduced the efficacy of employees' work potential. However, the market related to COVID-19 grew during the pandemic as customers were in need of testing services. Overall, the impact of COVID-19 on the market size has been low-moderate. Some market players have reported a slight decline in sales. However, financials are already on their way to recovery.

The decline in revenues was mostly a result of the initial phases of the COVID-19 pandemic, which comprised complete lockdowns across countries and major cities, thus interrupting the supply chain. The timeline of impact spanned the end of the first quarter and the second quarter of 2020 for most key markets across the globe. However, the pandemic has played a key role in enhancing the growth prospects of liquid biopsy and is expected to indirectly aid in improving the market growth outlook.

Recent Developments in the Global Liquid Biopsy Market

Product Launch in 2020: Sysmex Corporation launched liquid biopsy RUO kits in EMEA region. The kits name is Plasma-SeqSensei, and it is used for non-small cell lung cancer (NSCLC), melanoma, and thyroid cancer.
Partnership: In 2021, Illumina, Inc. collaborated with Bristol Myers Squibb to innovate and enhance companion diagnostics for therapy selection to further precision oncology. TSO 500 ctDNA is one of the first liquid biopsy assays to enable comprehensive genomic profiling for therapy selection.
Collaboration: In 2021, QIAGEN collaborated with Sysmex Corporation for the development and commercialization of cancer companion diagnostics using NGS and Plasma-Safe-SeqS technology.

Key Market Players and Competition Synopsis

Abcodia Ltd.
Bio-Rad Laboratories, Inc.
Biocept, Inc.
Dxcover Limited
Elypta
Epic Sciences
F. Hoffmann-La Roche Ltd
Guardant Health
Illumina, Inc.
Laboratory Corporation of America Holdings
LungLife AI, Inc.
Micronoma
Natera, Inc.
Neogenomics Laboratories
PerkinElmer Inc.
QIAGEN
Sysmex Corporation
Thermo Fisher Scientific Inc.

Key Topics Covered:

1 Market

2 Market Scope
2.1 Key Questions Answered in the Report

3 Research Methodology

4 Market Overview
4.1 Addressable Market Size and Growth Potential
4.2 COVID-19 Impact on Global Liquid Biopsy Market
4.2.1 Impact on Market Size

5 Industry Insights
5.1 Recently Launched Product/Services
5.1.1 Recently Launched Product/Services by Major Players
5.2 Regulatory Framework
5.2.1 Regulatory Framework in the U.S
5.2.2 Regulatory Framework in the European Union (EU)
5.2.3 Regulation in Other Countries
5.3 Reimbursement Scenario
5.4 Financing Scenario
5.4.1 Key Players Patent Portfolio
5.4.2 Key Players Stratification As per Raised Financing Value
5.4.3 Key Players Financing Analysis (by Company)
5.4.4 Financing Analysis, $Million, FY2019-FY2022
5.5 Supply Chain Analysis
5.6 Product Mapping Analysis
5.6.1 By Technology
5.6.2 By Sample Type
5.6.3 By Circulating Biomarker
5.6.4 By Application
5.7 Global Liquid Biopsy Market: Stakeholder Analysis (N=30)
5.7.1 Physicians' Perception
5.7.2 Payer's Perception
5.7.3 Investors' Perception
5.8 Liquid Biopsy Government Initiatives

6 Market Dynamics
6.1 Market Drivers
6.1.1 Rising Cancer Prevalence
6.1.2 Increasing Adoption of Inorganic Growth Strategies in the Market
6.1.3 Increased Research Funding from National Cancer Institute
6.2 Market Challenges
6.2.1 Uncertain Reimbursement and Regulatory Policies
6.2.2 Expected Implementation of Patient Protection and Affordable Care Act in the U.S
6.3 Market Opportunities
6.3.1 Potential Cost Savings
6.3.2 Existing Applicability in Non-Availability of Tissue Sections for Conventional Biopsy Approaches

7 Competitive Insights
7.1 Corporate Strategies
7.1.1 Synergistic Activities
7.1.2 Acquisitions
7.1.3 Funding and Business Expansion Activities
7.2 Business Strategies
7.2.1 Service/Product Launches
7.3 Market Share Analysis (by Manufacturers)
7.4 Market Share Analysis (by Service Providers)

8 Global Liquid Biopsy Market, by Offering, $Million, 2021-2032
8.1 Overview
8.2 Testing Service
8.3 Kits
8.4 Platform
8.5 Other Consumables

9 Global Liquid Biopsy Market, by Technology, $Million, 2021-2032
9.1 Overview
9.2 Next-Generation Sequencing
9.3 Polymerase Chain Reaction
9.3.1 Digital PCR
9.3.2 Multiplex PCR
9.3.3 Real-Time PCR
9.3.4 Others
9.4 Other Technologies
9.5 Emerging Technologies

10 Global Liquid Biopsy Market, by Workflow, $Million, 2021-2032
10.1 Overview
10.2 Sample Preparation
10.3 Library Preparation
10.4 Sequencing
10.5 Data Analysis and Management

11 Global Liquid Biopsy Market, by Usage, $Million, 2021-2032
11.1 Overview
11.2 Clinical
11.3 Research

12 Global Liquid Biopsy Market, by Sample, $Million, 2021-2032
12.1 Overview
12.2 Blood
12.3 Urine
12.4 Saliva
12.5 Others

13 Global Liquid Biopsy Market, by Circulating Biomarker, $Million, 2021-2032
13.1 Overview
13.2 Circulating Tumor Cells (CTCs)
13.3 Cell-Free DNA (cfDNA)
13.4 Circulating Cell-Free RNAs
13.5 Exosomes and Extracellular Vesicles and Others
13.6 Other Circulating Biomarkers

14 Global Liquid Biopsy Market, by Indication, $Million, 2021-2032
14.1 Overview
14.2 Breast Cancer
14.3 Prostate Cancer
14.4 Lung Cancer
14.5 Colorectal Cancer
14.6 Melanoma
14.7 Other Types of Cancer
14.8 Non-Oncology Disorder

15 Global Liquid Biopsy Market, by Clinical Application, $Million, 2021-2032
15.1 Overview
15.2 Treatment Monitoring
15.3 Prognosis and Recurrence Monitoring
15.4 Treatment Selection
15.5 Diagnosis and Screening

16 Global Liquid Biopsy Market, by End User, $Million, 2021-2032
16.1 Overview
16.1.1 Academic and Research Institutions
16.1.2 Clinical Laboratories
16.1.3 Pharmaceutical and Biotechnology Companies
16.1.4 Other End Users

For more information about this report visit https://www.researchandmarkets.com/r/3vtyue

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