by Liquid biopsy is a non-invasive blood test that analyzes biomarkers like DNA, RNA or proteins that are shed by tumors into the bloodstream. It has gained prominence as an alternative to surgical biopsies as it eliminates the need of invasive medical procedures. Advantages include early disease detection, real-time disease monitoring and better assessment of treatment response.
The global Liquid Biopsy Market is estimated to be valued at US$ 5.25 Bn in 2023 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 key trends:
The increasing adoption of AI-powered liquid biopsy approaches is expected to fuel growth of the liquid biopsy market during the forecast period. AI is leveraged to analyze vast amounts of genomic, imaging and other biomarker data to detect subtle patterns which can help in early cancer detection. AI algorithms are being used for tumor classification, recurrence monitoring and detecting therapy resistance by analyzing cell-free DNA from liquid biopsies. With increasing volumes of multi-omic patient data, liquid biopsy coupled with AI is expected to gain wider acceptance among clinicians for non-invasive cancer management over the forecast period.
SWOT Analysis
Strength: Liquid biopsy helps in non-invasive diagnosis of cancer which reduces pain and risks for patients. It provides real-time monitoring of disease progression and treatment response.
Weakness: Challenges remain in terms of sensitivity and specificity of liquid biopsy. There are technical challenges in isolating and detecting rare tumor cells or circulating biomarkers.
Opportunity: Growth in funding for cancer research and development of new liquid biopsy tests. Increase in application areas such as therapeutic monitoring and screening.
Threats: stringent regulatory guidelines and approval process. Requirement of advanced technological infrastructure hinders adoption in resource-constrained settings.
Key Takeaways
The Global Liquid Biopsy Market Size is expected to witness high growth. Detection of tumor-derived DNA in blood serum/plasma and isolation of circulating tumor cells offers a promising alternative to invasive tumor biopsies. The global Liquid Biopsy Market is estimated to be valued at US$ 5.25 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030.
Regional analysis comprises North America currently dominates the market owing to availability of state-of-the-art healthcare facilities with favorable reimbursement structures. Asia Pacific is expected to grow at the highest CAGR during the forecast period due to increasing awareness, healthcare expenditure and heavy government funding.
Key players operating in the Liquid Biopsy market are Guardant Health, F. Hoffmann-La Roche Ltd, Myriad Genetics, Illumina, Inc., Bio-Rad Laboratories Inc., Qiagen N.V., Thermo Fisher Scientific Inc. and Exact Sciences Corporation. Companies are investing in developing sensitive assays for detection of rare genetic alterations in ctDNA for early cancer screening and prognosis applications.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
