The liquid biopsywas valued at US$ 3,861.49million in 2019 and is projectedto reachUS$ 8,123.85 million by 2027; it is expected to grow at a CAGR of 9.9% from 2020 to 2027.
The growing prevalence of canceris a driving factorfor the growth of global liquid biopsymarket. However, low sensitivity of liquid biopsy is likely to restrain the growth of the market during the forecast period.
Liquid biopsy is a noninvasive diagnostic test that identifies various types of cancer. The increasing prevalence of cancer among population is leading to the growth of liquid biopsy market across the world. For instance, in Canada, cancer is the leading cause of death among population and it is witnessed to be a second-leading cause after heart diseases in the US. As per the American Cancer Society, Inc, approximately, 1.9 million new cancer cases and 693,000 cancer deaths were recorded in 2018, in Northern America. Prostate cancers are the most commonly diagnosed cancers among males in North America; however, breast cancers remains leading in females. Additionally, lung cancer remains the most common cause of death in both sexes. It is estimated that the number of new cancer cases is accounted for 439.2 per 100,000 men and women every year.
According to the National Health Profile, the cases of common cancers, including cervical, oral, and breast cancers have increased by 324%in India between 2017 and 2018. Additionally, the total number of patients visiting Non Communicable Diseases (NCD) clinics have doubled from 2017 to 2018, which is recorded as 3.5 crore to 6.6 crore respectively. Rapid change in lifestyle and increasing consumption of alcohol and tobacco products are the factors increasing the incidences of cancer among the population.
The global liquid biopsy market is segmented intoproduct & services, sample, circulating biomarker, application, and end user.The circulating biomarkeris further segmented into circulating tumor cells (CTC), exosomes, and free nucleic acid. The circulating tumor cells (CTC) segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period. Based onapplication, the liquid biopsy market is segmented intooncology, noninvasive prenatal testing (NIPT), transplant diagnostics, and other applications. The oncologysegment held the largest share in 2019 of the market; moreover, noninvasive prenatal testing (NIPT) is expected to register fastest growth. Furthermore, based on end user, the liquid biopsy market is segmented intohospitals, reference laboratories, academic & research institutes, and other end users. Hospitals segment is expected to remain dominant during the forecast period.
Cancer Center Amsterdam, Food and Drug Administration, World Health Organization (WHO),Kidney Disease Improving Global Outcomes, and International Diabetes Federation aresome of the essential primary and secondary sources included in the report.