Liquid Biopsy Market is Likely to Propel with a Revenue of US$ 4.1 Bn at a Healthy CAGR Value. Growth is Attributed to Recent Government’s Stringent Initiatives | Future Market Insights, Inc.

NEWARK, Del, Nov. 02, 2022 (GLOBE NEWSWIRE) — The global liquid biopsy market is anticipated to create lucrative growth opportunities over the projection period by exhibiting a total CAGR of 13.49% from 2022 to 2032. The global market is expected to be valued at US$ 1,146 Million in 2022 and surpass a valuation of around US$ 4,126 Million in 2032. The growth of the liquid biopsy market is attributed to increasing cancer incidences and low treatment rates.

A liquid biopsy is known to be a non-invasive procedure as compared to surgical biopsies which aid in discovering a tumor with the help of a simple blood sample. Traces of cancer’s DNA in the blood can help in giving clues about which treatments are most likely to work for that patient. Liquid biopsies are commonly used to diagnose non-small cell lung cancer (NSCLC) and screening or a companion diagnostic for numerous other types of cancers such as gastrointestinal, colorectal, breast, prostate, and ovarian cancer.

The Cost-effectiveness and high efficacy of liquid biopsy over several other diagnostic tests are chief factors responsible for market growth. Fast-track approvals from regulatory bodies such as the U.S. Food and Drug Administration (FDA) for non-invasive cancer diagnosis tests will continue creating growth opportunities.

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Key Takeaways

• For decades, cancer has been constantly affecting humanity and the numbers continue to surge even with the emergence of better treatment and care. According to the reports by the World Health Organization (WHO), In 2020 it reported around 10 million deaths caused due to cancer. This staggering rise in number emphasizes the need for accurate and convenient cancer diagnostic systems for early detection.
• Governments in several high cancer-burden nations have made a pledge to assist cancer research by offering them adequate funds that can aid in improved outcomes. For instance, as per the National Institute of Health (NIH), the federal government has allocated US$ 119 Mn to National Cancer Institute for the fiscal year 2021.
• The India-UK Cancer Research Initiative in 2018, focused on improved and affordable approaches to cancer diagnosis and treatment. This initiative received investments valued at £5 Mn from the Department of Biotechnology (DBT), Ministry of Science & Technology, India, and Cancer Research UK (CRUK) each over a 5-year program.
• The government-led initiatives are expected to further promote cancer specialists all over the world in order to set research goals aimed at affordability, convenience, and optimal patient care in cancer treatments. Adequate funding will allow experts to develop research alliances to enable significant improvements against numerous cancer outcomes.

Competitive Landscape

Key players in the liquid biopsy market are focusing on strategic collaborations with several end-users including hospitals, diagnostic centers, and cancer research institutes to strengthen their product offerings in the market. As per FMI analysis, tier-1 players will account for approximately 20-25% of the total sales.

Prominent industrial research funding along with product development agreements will offer proprietary benefits to manufacturers, helping them contribute to the development of accurate diagnosis methods for various cancers. In addition, gaining patents and government approvals for new technologies will remain one of the prominent growth strategies.

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More Insights into the Liquid Biopsy Market

According to the FMI analysis, the U.S. is anticipated to account for around 51% of the total market share in the global liquid biopsy market during the projection period. Growth prospects in the U.S. are attributed to surging government funding in order to support cancer research. The rising prevalence of cancer across the U.S. will generate high demand for highly accurate liquid biopsy services. Widespread technological developments including artificial intelligence, machine learning, and microchip-based liquid biopsy diagnostic services will lead to market expansion in the U.S.

The European liquid biopsy market is anticipated to surge significantly throughout the forecast period, attributed to the desirable healthcare policies along with high average per capita healthcare costs, which have produced a favorable climate in the United Kingdom for the adoption of modern cancer diagnostic technology.

The technological developments in the U.K. are expected to offer lucrative growth opportunities for players operating in the market, allowing them to benefit from technological advancements for better products and services. The U.K. will account for 24% of the market share, as estimated by FMI.

According to the FMI market survey, government initiatives in emerging economies like India are aimed at improving cancer awareness, research, and development and are anticipated to propel the growth of the liquid biopsy market in India, as per FMI’s market survey. As revealed by the National Cancer Registry, cancer incidence in men is estimated to reach 736,575 in 2025, with 806,218 cases to be recorded in women.

Key Segments Profiled in the Liquid Biopsy Industry Survey

Liquid Biopsy Market by Marker Type:

• CTCs (Circulating Tumour Cells)
• ctNA (Circulating tumor Nucleic Acids)
• Exosomes

Liquid Biopsy Market by Sample Type:

• Blood Liquid Biopsy
• Urine Liquid Biopsy
• Others (Plasma, Saliva, CSF) Liquid Biopsy

Liquid Biopsy Market by Application Type:

• Liquid Biopsy for Lung Cancer
• Liquid Biopsy for Gastrointestinal Cancer
• Liquid Biopsy for Prostate Cancer
• Liquid Biopsy for Breast Cancer
• Liquid Biopsy for Colorectal Cancer
• Liquid Biopsy for Leukemia

Liquid Biopsy Market by Region:

• North America Liquid Biopsy Market
• Latin America Liquid Biopsy Market
• Western Europe Liquid Biopsy Market
• Eastern Europe Liquid Biopsy Market
• APEJ Liquid Biopsy Market
• Japan Liquid Biopsy Market
• Middle East and Africa Liquid Biopsy Market

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Table of Content

1. Executive Summary
2. Assumptions and Acronyms
3. Research Methodology
4. Liquid Biopsy Market Overview

    4.1. Introduction

        4.1.1. Liquid Biopsy Market Definition

        4.1.2. Liquid Biopsy Market Taxonomy

    4.2. Liquid Biopsy Market Dynamics

        4.2.1. Drivers

        4.2.2. Restraints

        4.2.3. Opportunity

    4.3. Regional Cancer Epidemiology

    4.4. Reimbursement Scenario

Source: https://www.futuremarketinsights.com/reports/liquid-biopsy-market

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