Liquid Biopsy in Cancer Diagnostics Market

The Liquid Biopsy in Cancer Diagnostics market was valued at USD 6,953.15 million in 2020, rising at a significant CAGR of 16.64% during the forecast period 2021-26 and expected to reach USD 16,500.05 million by 2026.

Factors such as the growing demand for minimally invasive procedures, rising incidence of different cancers, increasing demand for precision medicine, technical innovation in product development, among other factors, are expected to drive the Liquid Biopsy in the Cancer Diagnostics market.

Some of the key Liquid Biopsy in Cancer Diagnostics companies with their Liquid Biopsy products in various stages of development include Thermo Fisher Scientific Inc, Biocept Inc, Agilent Technologies Inc, MDx Health, Myriad Genetics Inc, Biocartis, Exact Sciences Corporation, Sysmex Corporation, F. Hoffman La Roche Ltd, Neogenomics Laboratories, Guardant Health, Bio-Techne, SAGA Diagnostics, Illumina Inc, QIAGEN, Lucence Health Inc, Personal Gemone Diagnostics Inc, The Menarini Group, Agena Bioscience Inc, MiRXES Pte Ltd., and others are currently dominating the Liquid Biopsy in Cancer Diagnostics Device Market.

DelveInsight’s “Liquid Biopsy in Cancer Diagnostics Market Insight & Forecast” report will offer an in-depth understanding of the Liquid Biopsy in Cancer Diagnostics market, further benefiting the competitors or stakeholders operating in the Liquid Biopsy in Cancer Diagnostics device arena.

Liquid Biopsy in Cancer Diagnostics Overview

A liquid biopsy is a test that enables the diagnosis/analysis of tumors using only blood or a fluid sample rather than a solid tissue biopsy. It is most commonly applied to collecting peripheral blood to analyze cell-free circulating tumour deoxyribonucleic acids (DNA).

Cancer diagnostics is an umbrella term that comprises all diagnostics modalities such as molecular diagnostics, imaging, and Biopsy employed in drawing results regarding cancer diagnosis and devising prognostic strategies. 

Liquid Biopsy is relatively a new technique in cancer diagnosis and therapy management. It is witnessing a surge in popularity in clinical settings as new data is unveiled related to its advantages in oncology. 

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Liquid Biopsy in Cancer Diagnostics Devices Market Insights

The Global Liquid Biopsy in Cancer Diagnostics Devices market is geographically analyzed for North America, Europe, Asia-Pacific, and the Rest of the World. North America, among all the regions, is expected to account for the significant market share in the liquid Biopsy in cancer diagnostics market. North America is expected to account for the dominant Liquid Biopsy market share because of the increasing focus on oncology research, rising prevalence of cancers,  supportive government policies promoting liquid biopsy research and a conducive environment for product development and launches, among other factors.

Among all the North American countries, the United States accounted for 87% of revenue share in the liquid biopsy in cancer diagnostics market in 2020. One of the critical reasons for the rise in the uptake of liquid biopsy products and services in the country was the high prevalence of cancers. 

For example, as per the data provided by the National Cancer Institute, United States, till April 2021, bladder, breast, colon and rectal, endometrial, and kidney cancer were some of the shared cancer types in the country. Besides the high prevalence of Cancer, the United States is considered one of the key countries that invest heavily in healthcare services and medical research. The US Food and Drug Administration also provides a supportive environment for new technologies to reach the Liquid Biopsy in Cancer Diagnostics market by providing a “breakthrough device” designation to emerging technologies and products in the medical devices domain. 

Cancer diagnosis and treatment can be highly cost-intensive to patients even after medical insurance. The coverage of liquid biopsy tests in insurance and reimbursement programs offered by the United States government further acts as a booster for their uptake by end-users. For example, InVisionFirst®, Liquid Biopsy for Patients with Lung Cancer, is covered under CMS National Coverage Policy. 

Thus, all the above-mentioned factors are expected to push the liquid Biopsy in cancer diagnostics market in the United States.

Moreover, the increasing prevalence of lifestyle disorders is a significant risk factor in cancer development. 

To read more about why North America is leading the market growth in the Liquid Biopsy in Cancer Diagnostics market, get a snapshot of the Liquid Biopsy in Cancer Diagnostics market report.

Liquid Biopsy in Cancer Diagnostics Market Dynamics

One of the critical aspects driving liquid Biopsy in cancer diagnostics market is the growing demand for liquid Biopsy in cancer diagnostics due to an increase in cancer incidence. As per the GLOBOCAN study conducted by the International Agency for Research on Cancer, in 2020, 19.3 million new cancer cases (18.1 million excluding non-melanoma skin cancer) and nearly 10.0 million cancer deaths were reported globally. The source mentioned above further stated that in 2020, lung cancer remained the leading cause of cancer death, with an estimated 1.8 million deaths (18%), followed by colorectal (9.4%), liver (8.3%), stomach (7.7%), and female breast (6.9%) cancers. Considering the increase in the number of new cancer cases all over the globe, there has been a growing emphasis on developing an alternative to conventional biopsies to facilitate the cancer diagnosis process and make it smoother for both patients and healthcare providers. Furthermore, the application of liquid Biopsy in therapy management for cancers such as lung and breast is further expected to boost the product demand. Thus, the increasing patient population of cancers would, in turn, lead to an increase in demand for liquid biopsy products and services. Therefore, all the factors above are projected to contribute to the growth of liquid Biopsy in the cancer diagnostics market.

Recent Advancements in Liquid Biopsy in Cancer Diagnostics Devices Market:

• In October 2021, Sysmex Inostics developed a new CLIA-validated liquid biopsy test to detect Minimal Residual Disease (MRD) in Acute Myeloid Leukemia (AML). This new test, AML-MRD-SEQ, adds to the portfolio of ultra-sensitive Plasma-Safe-SeqS technology NGS tests available through Sysmex Inostics’ CLIA lab services in Baltimore, Maryland in the United States.
• In June 2021, NeoGenomics completed its acquisition for Inivata Ltd, a global, commercial-stage liquid biopsy platform company headquartered in Cambridge, England.
• In January 2021, Exact Sciences Corporation acquired Thrive Earlier Detection Corp. (“Thrive”), a healthcare company dedicated to developing a blood-based, multi-cancer screening test.

Key Players Proactively Working In the Liquid Biopsy in Cancer Diagnostics Market

Key Liquid Biopsy in Cancer Diagnostics companies involved in manufacturing and production is making a significant growth to the advancement of these devices. To boost their market position, they also engage in mergers and acquisitions. Some of the key Liquid Biopsy in Cancer Diagnostics companies operating actively in the Liquid Biopsy in Cancer Diagnostics Device market include Thermo Fisher Scientific Inc (TMO:NYSE), Biocept Inc (NASDAQ:BIOC), Agilent Technologies Inc (A:NYSE), MDx Health (MDXH.BR), Myriad Genetics Inc (MYGN), Biocartis (BCART.BR), Exact Sciences Corporation (Nasdaq: EXAS), Sysmex Corporation (SSMXF), F. Hoffman La Roche Ltd (SWX: ROG), Neogenomics Laboratories (NASDAQ:NEO), Guardant Health (NASDAQ: GH), Bio-Techne (TECH:NASDAQ), SAGA Diagnostics, Illumina Inc (ILMN:NASDAQ GS), QIAGEN (NYSE:QGEN), Lucence Health Inc, Personal Gemone Diagnostics Inc, The Menarini Group, Agena Bioscience Inc, MiRXES Pte Ltd., and others.

Covid 19 Impact Analysis on Liquid Biopsy in Cancer Diagnostics Devices Market

The liquid Biopsy in the cancer diagnostics market witnessed a dip in the generated revenue due to implementing measures to curb the spread of the COVID-19 infection. One of the significant steps during the COVID surge was the suspension of numerous elective procedures and outpatient visits which reduced the demand for liquid biopsy products and services in the market as the healthcare system guidelines across the globe temporarily focused all their efforts on the management of COVID-19 infection patient load during the initial lockdown period. As per the data provided by Cancer Research UK, in the UK alone, for example, urgent lung cancer referrals fell by up to 75% during the first lockdown. This did not correlate to the decrease in cases, but fewer people sought and obtained the diagnosis they urgently needed. Unfortunately, these trends were prominent across countries around the globe. Nevertheless, the market for liquid Biopsy in cancer diagnostics is on a period of recovery owing to the devising of strategies to transform cancer care during the pandemic and approval of liquid biopsy products such as Exosomal liquid biopsy prostate test in March 2021 by the US Food and Drug Administration thereby presenting a future outlook for the liquid Biopsy in cancer diagnostics market during the forecast period from 2021-2026.

Get a glimpse of the Liquid Biopsy in Cancer Diagnostics market report to see how COVID-19 will affect you in the short and long run.

Scope of the Liquid Biopsy in Cancer Diagnostics Device Market Report:

• Geography Covered: Global
• Study Period: 2021-2026
• Key Liquid Biopsy in Cancer Diagnostics Companies: Thermo Fisher Scientific Inc, Biocept Inc, Agilent Technologies Inc, MDx Health, Myriad Genetics Inc, Biocartis, Exact Sciences Corporation, Sysmex Corporation, F. Hoffman La Roche Ltd, Neogenomics Laboratories, Guardant Health, Bio-Techne, SAGA Diagnostics, Illumina Inc, QIAGEN, Lucence Health Inc, Personal Gemone Diagnostics Inc, The Menarini Group, Agena Bioscience Inc, MiRXES Pte Ltd., and others.
• Market Segmentation By Product Type & Services- Instruments And Reagents & Kits
• Market Segmentation by Sample Type- Blood, Urine, And Saliva
• Market Segmentation by Biomarker Type- Circulating Tumor Cells, Circulating Tumor DNA, Circulating Free DNA, And Others
• Market Segmentation by Cancer Type- Lung Cancer, Breast Cancer, Colon Cancer, And Others
• Market Segmentation by Technique- Polymerase Chain Reaction And Next Generation Sequencing
• Market Segmentation By End-User –  Hospitals, Diagnostic Centers, And Others
• Market Segmentation by Geography: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
• Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

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