NGS-Based Liquid Biopsy Market: Current Analysis and Forecast (2023-2028)
$3999 – $6999
Emphasis on Type (Kits, Instruments, and Services); End-User (Diagnostic Laboratories, Hospitals, Clinics, and Others); and Region/Country
Pages: | 99 |
---|---|
Table: | 46 |
Figure: | 65 |
Report ID: | UMHE2118084 |
Geography: |
Report Description
The global NGS-Based Liquid Biopsy Market was valued at USD 487 million in 2022 & is expected to grow at a significant rate of around 6.8% during the forecast period (2022-2030). NGS-based liquid biopsy is a type of liquid biopsy that uses next-generation sequencing (NGS) to detect and analyze circulating tumor DNA (ctDNA) in blood or other body fluids. ctDNA is a small amount of DNA that is released from tumor cells into the bloodstream. NGS can be used to sequence ctDNA and identify mutations that are present in the tumor. The market for NGS-based liquid biopsy is witnessing growth globally due to the presence of a large geriatric population in the region and the risk of cancer increases with the rising cases of cancer in Europe’s aged population increasing the demand for cancer screening methods. As a result, the market for NGS-based liquid biopsy also increases. Furthermore, the increasing efforts of various European organizations to reduce cancer cases by introducing various diagnostic facilities is the major for adopting NGS-based liquid biopsies. For instance, The European Society for Liquid Biopsy (ELBS) aims to ensure that liquid biopsy (LB) tests soon become part of the clinical routine to benefit cancer patients.
GENOMILL HEALTH OY; Avida Biomed; Thermo Fisher Scientific Inc.; Agilent Technologies Inc.; F. Hoffmann-La Roche Ltd; Illumina, Inc; QIAGEN; Biocept Inc.; Guardant Health, Inc.; and Lucence Health Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, services category to witness fastest growth rate during the forecast period”
Based on type, the market is segmented into kits, instruments, and services. Amongst, services category to witness the fastest growth rate during the forecast period. This segment includes the production and manufacturing of cellular products, such as stem cells, T-cells, and other cell-based treatments, which are used to treat a range of diseases and conditions, including cancer, genetic disorders, and degenerative diseases. Companies in this segment offer a range of services, including cell processing, cell banking, and cell therapy product development and commercialization. These factors are expected to contribute to the growth of this segment.
“Amongst end-users, the diagnostic laboratories category is expected to witness fastest growth in the market in 2022.”
On the basis of end-users, the market is categorized into diagnostic laboratories, hospitals, clinics, and others. Among these, the diagnostic laboratories category is expected to witness fastest growth in the market in 2022. The diagnostic laboratories that focus on NGS-based liquid biopsy offer services to healthcare providers, researchers, and pharmaceutical companies. They receive patient samples and perform the necessary laboratory procedures to extract the genetic material and prepare it for sequencing. The increasing demand for in-home diagnostics, along with the rising number of patients having cancer are the major attributing factors for the growth of the segment in the NGS-based liquid biopsy. For instance, NeoGenomics Laboratories is providing InVisionFirst Lung Liquid Biopsy which is NGS based liquid biopsy assay testing 37 genes relevant to the care of advanced NSCLC patients. This test involves a mobile sample collection facility.
“APAC to hold a significant share in the market”
For a better understanding of the market adoption of the NGS-Based Liquid Biopsy industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The APAC region is expected to growth with the highest CAGR during the forecast period The region consists of fast-developing nations such as China and India due to which the demand for advanced diagnostic technologies is increasing. Furthermore, the Asia and Pacific region is home to more than 60% of the world’s population and this factor also makes the region the most attractive market for the growth of the NGS-based liquid biopsy industry. Further, with the rapid rise in the population in the region, the Asia Pacific is also witnessing rapidly surging cases of cancer which also becomes an important driving factor to the NGS-based liquid biopsy market in the region. As per the Globocan 2020, around 5.8 million deaths were reported due to cancer in 2020 from Asia.
NGS-based Liquid Biopsy Market Report Coverage
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.
Customization Options:
The global NGS-based liquid biopsy market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
You can also purchase parts of this report. Do you want to check out a section wise
price list?
Research Methodology
Research Methodology for the NGS-Based Liquid Biopsy Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global NGS-based liquid biopsy market were the three major steps undertaken to create and analyze the adoption of NGS-based liquid biopsy in 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 global NGS-based liquid biopsy market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting 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 of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the NGS-based liquid biopsy market through company internal sources such as annual reports & 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 NGS-based liquid biopsy market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as types and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models 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 the NGS-based liquid biopsy market. Further, we conducted factor analysis using dependent and independent variables such as various types and end-users of advanced therapy medicinal products. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the NGS-Based Liquid Biopsy sector 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 global NGS-based 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, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the NGS-Based Liquid Biopsy market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global NGS-based liquid biopsy market in terms of products 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, 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
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global NGS-Based Liquid Biopsy market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, phase, and indication in the global NGS-Based Liquid Biopsy market.
The main objective of the Global NGS-Based Liquid Biopsy Market Study
The current & future market trends of the global NGS-based liquid biopsy market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends 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 from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the NGS-based liquid biopsy market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and end-users.
- Define and analysis of the regulatory framework for the advanced therapy medicinal products
- 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 NGS-Based Liquid Biopsy market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the NGS-Based 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
You can also purchase parts of this report. Do you want to check out a section wise
price list?
You must be logged in to post a review.
Reviews
There are no reviews yet.