In the world of medical diagnostics, liquid biopsy has emerged as a groundbreaking technology, especially in the field of cancer detection. The global liquid biopsy market's staggering growth shows a revenue close to US$4 Bn in 2021, with an impressive CAGR of 17.5% forecasted between 2023 and 2030. According to Fairfield Market Research, this market is expected to reach a valuation of US$15.5 Bn by 2030.
For more information, please refer to the full report: https://www.fairfieldmarketresearch.com/report/liquid-biopsy-market
What is Liquid Biopsy?
Liquid biopsy is a minimally to non-invasive diagnostic approach involving the isolation of circulating tumor markers such as cell-free nucleic acids and circulating tumor cells from peripheral blood. It has become a sought-after method due to its advantages over traditional cancer diagnostic techniques.
Market Overview: The Rise of Liquid Biopsy
COVID-19 Impact on Liquid Biopsy
The unprecedented impact of COVID-19 affected many sectors, including cancer treatment and diagnostics. Oncology clinics were re-profiled to accommodate the increasing demand of COVID-19 patients, leading to the delay or shelving of up to 2.3 million cancer surgeries worldwide.
Growing Need for Liquid Biopsy in Cancer Detection
Cancer, being the second leading cause of death globally, is seeing a surge in incidence. According to the WHO, nearly 10 million deaths in 2020 were attributed to cancer. Liquid biopsy provides several benefits over conventional cancer diagnostic techniques, leading to an anticipated increase in demand parallel to the rise in cancer prevalence.
Exploring Opportunities in the Liquid Biopsy Market
Breast Cancer and Non-oncology Indications
Breast cancer indication was valued at US$800 Mn in 2022, while other cancers and non-oncology indications are expected to exhibit strong growth, with a CAGR of 17.8%.
Advancements in Multi-gene Analysis & Multi-cancer Early Detection Tests
Technological advancements like NGS technology and the introduction of new products by operational companies like Twist Bioscience Corp and 4baseCare are propelling the market growth.
Precision Oncology & Rapid Expansion of Pipeline
CTCs and ctDNAs show promise due to technological advancements. With a projected CAGR of 17.9% from 2023-2039, efforts in the pipeline are targeting innovative solutions to tackle cancer screening challenges.
Key Players and Innovations in the Liquid Biopsy Space
Companies like Guardant Health and products like TARGT Indiegene are making significant strides in cancer detection. TARGT Indiegene, one of the largest cancer gene panels, has been developed by profiling more than 1500+ tumor samples across 28 cancer types.
Conclusion: The Future of Liquid Biopsy Market
With an impressive projected growth rate and a multitude of applications, the liquid biopsy market is positioned to revolutionize cancer diagnostics. From COVID-19's temporary slowdown to the technological advancements in detection methods, liquid biopsy's future looks promising. The market's potential for non-oncology indications and collaborations with research institutes promises further growth, ensuring that liquid biopsy remains at the forefront of precision medicine.
