Liquid Biopsy Market: Current Analysis and Forecast (2021-2027)
$3500 – $6860
Emphasis on Cancer Type (Lung, Breast, Colorectal, Prostate); Circulating Biomarkers (Circulating Tumor Cells, Circulating Tumor DNA, Cell-Free DNA); Product (Assay Kits, Instruments); End-User (Reference Laboratories, Hospitals & Physician Laboratories, Academic & Research Centres); Region and Country
The global Liquid Biopsy Market was valued at USD XX million in 2020 and is expected to reach USD XX million in 2027, growing at a CAGR of XX% during the forecast period. Liquid biopsy is a non-invasive procedure which enables doctors to identify the information regarding the tumor using a blood sample. This technique is mainly used to diagnose chronic diseases such as cancer. It is also used to monitor the effect of treatment on cancer patients’ multiple times. The liquid biopsy will take a prominent position for cancer-related probe and investigation. The liquid biopsy is rapidly substituting conventional tumor biopsies. These are developed out of the need to acquire the most amount of molecular information about cancer. This cancer information is obtained with the least amount of surgical invasion. Furthermore, the clinical trials for the development of these tests have given positive results and have led to larger scaled clinical trials demonstrating efficacy.
The incidence rates of cancer remain highest in the more-developed regions; however, the mortality is relatively higher in the less-developed countries due to limited access to treatment facilities and lack of awareness regarding the benefits of early detection. Lung cancer, colorectal cancer, breast cancer, and prostate cancer account for the majority of cancer cases. Lung cancer is the leading cause of death among all cancers. Similarly, breast cancer is the second-most common type of cancer globally and is also the most common cause of cancer-related deaths in women.
Liquid biopsy holds several benefits over traditional cancer diagnostics techniques—reduced cost, early prognosis, therapy monitoring, detection of tumor heterogeneity, acquired drug resistance, and patient comfort (by eliminating the need for surgery).
In April 2017, Menarini Silicon Biosystems (Italy), Inc. acquired Janssen Diagnostics, LLC. (US). This acquisition of Janssen Diagnostics’ business related to CELLSEARCH Circulating Tumor Cell System. The acquisition marks Menarini-Silicon Biosystems’ first entry into the US diagnostics market.
Value chain analysis of Liquid Biopsy
The key players in the global liquid biopsy market are Roche Diagnostics, Biocept, Inc., Thermo Fisher Scientific Inc., Qiagen N.V., Bio-Rad Laboratories, Inc., Menarini-Silicon Biosystems, Illumina, Inc., MDXhealth SA, Genomic Health, Inc., Guardant Health Inc. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced technologies.
Insights Presented in the Report
“Amongst Cancer Type, Lung Cancer segment holds the major share.”
Based on the cancer type, the global Liquid Biopsy market is categorized into Lung, Breast, Colorectal, Prostate. Lung Cancer segment accounted for the largest revenue share in 2020 owning to increase in prevalence of non-small cell lung cancer form across the globe. For instance, as per the world health organization, lung cancer is by far the leading cause of cancer death among both men and women, estimated to have around 1.80 million deaths globally in 2020. Further, prostate cancer is expected to be the fastest growing segment during the forecast period as it is the most prevalent type of cancer and the second leading cause of death in North America.
“Amongst Product, Assay Kits segment dominated the market during the forecast period.”
Based on product, the liquid biopsy market is segmented into assay kits, instruments. Among these, the assay kits segment is expected to be the fastest-growing segment in the product and services market during the forecast period. Factors such as the increasing demand for liquid biopsy tests, increasing applications of liquid biopsies, and the need for reliable and specific assays are expected.
“Amongst End User, Hospital’s segment dominated the market during the forecast period.”
Based on end user, the liquid biopsy market is segmented into reference laboratories, hospitals and physician laboratories, academic and research centres. Reference laboratories form the largest and fastest-growing end-user segment of the liquid biopsy market. They can be attributed to the large volume of tests being outsourced to reference laboratories from oncologists and hospitals.
“North America represents one of the largest markets of Liquid Biopsy market.”
For a better understanding of the market dynamics of the Liquid Biopsy market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of US$ XX million in 2020 owing to the rising per capita income.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.2.||Objective of the Study|
|1.5.||Currency Used in Report|
|1.6.||Scope of the Global Liquid Biopsy Market Study|
|2.1.||Research Methodology for the Global Liquid Biopsy Market|
|2.1.1.||Main Objective of the Global Liquid Biopsy Market|
5 COVID-19 IMPACT
|6||GLOBAL LIQUID BIOPSY MARKET REVENUE|
|8.1.||Circulating Tumor Cells|
|8.2.||Circulating Tumor DNA|
|10.2.||Hospitals and Physician Laboratories|
|10.3.||Academic and Research Centers|
|11.1.||North America Liquid Biopsy Market|
|11.1.3.||Rest of North America|
|11.2.||Europe Liquid Biopsy Market|
|11.2.6.||Rest of Europe|
|11.3.||Asia Pacific Liquid Biopsy Market|
|11.3.5.||Rest of Asia Pacific|
|11.4.||Rest of the World Liquid Biopsy Market|
|13||LEGAL & REGULATORY FRAMEWORK3|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|14.2.1.||Top Product Launches|
|14.2.2.||Top Business Partnerships|
|14.2.3.||Top Merger & Acquisitions|
|15||VALUE CHAIN ANALYSIS|
|16||LIQUID BIOPSY MARKET OPPORTUNITIES|
|17||LIQUID BIOPSY MARKET TRENDS & INSIGHTS|
19.1. Thermo Fisher Scientific, Inc.
19.1.1. Key Facts
19.1.2. Business Description
19.1.3. Key Product/Services Offerings
19.1.4. Growth Strategy
19.1.5. SWOT Analysis
19.1.6. Key Financials
220.127.116.11. Revenue Split
18.104.22.168. Financial Overview of Thermo Fisher Scientific, Inc.
19.1.7. Recent Developments
22.214.171.124. Product Launch
126.96.36.199. Business Expansion and Investments
188.8.131.52. Merger and Acquisition
19.2. Roche Diagnostics
19.3. Biocept, Inc
19.4. Thermo Fisher Scientific Inc
19.5. Qiagen N.V.
19.6. Bio-Rad Laboratories, Inc
19.7. Menarini-Silicon Biosystems
19.8. Illumina, Inc
19.9. MDXhealth SA
19.10. Genomic Health, Inc
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Liquid Biopsy Market were the three major steps undertaken to create and analyze the adoption of Liquid Biopsy for the different surgeries across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Liquid Biopsy sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Liquid Biopsy through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Liquid Biopsy market, we conducted a detailed secondary analysis to gather historical market insights and share for different technologies & Equipment types for major regions. Major segments included in the report are cancer type, circulating biomarkers, products, End User and regions. Further country-level analyses were conducted to evaluate the overall adoption of Liquid Biopsy in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Liquid Biopsy. Further, we conducted factor analysis using dependent and independent variables such as the surging demand for Liquid Biopsy. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Liquid Biopsy industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Liquid Biopsy market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top/down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Liquid Biopsy across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Liquid Biopsy market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Liquid Biopsy market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and product type of the Liquid Biopsy market.
Main Objective of the Liquid Biopsy Market Study
The current & future market trends of Liquid Biopsy were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Liquid Biopsy in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of application, product type and end-user sector.
- Define and analysis of the regulatory framework for the Liquid Biopsy industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Liquid Biopsy market for the major region.
- Major regions studied in the report include North America (the U.S and Canada), Europe (Germany, France, U.K Spain, and Italy), Asia-Pacific (China, Japan, Australia, and India), Rest of the World
- Company profiles of the Liquid Biopsy market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry