Liquid Biopsy Market by Product & Service (Reagents, Instruments, and Service), Cancer Type (Lung, Breast, Colorectal, Prostate, Liver, and Others), Circulating Biomarker (Circulating Tumor Cells, Extracellular Vesicles, Circulating Tumor DNA [CtDNA], and Other Biomarkers) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Liquid biopsies are non-invasive blood tests that detect tumor DNA & RNA fragments and circulating tumor cells (CTCs), which are released into the blood from the primary tumors and metastatic sites. It is a minimally invasive technology for the detection of molecular biomarkers, excluding expensive or invasive procedures.
The global liquid biopsy market accounted for $634 million in 2016, and is estimated to reach at $3,805 million by 2023, registering a CAGR of 28.9% from 2017 to 2023.
Liquid biopsy is a simple and precise alternative to surgical biopsies, which allows physicians & surgeons to detect & treat cancer at an early stage and acquire tumor information through blood samples.
These biopsies are particularly significant as they help the physician to understand the molecular changes and dynamics of cancer. Moreover, cancer recurrence is expected to be understood through well-timed liquid biopsies.
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Surge in prevalence of cancer, advantages of liquid biopsy over solid tumor biopsy, rise in awareness about minimally invasive procedures, and favorable government initiatives supplement the market growth. However, alternatives to liquid biopsies and unclear reimbursement & regulation scenario impede the growth.
Furthermore, increase in pre-screening programs for cancer detection provide lucrative opportunity for the market players.
The liquid biopsy market is segmented based on product & service, cancer type, circulating biomarker, end user, and geography. Based on product & service, it is divided into reagents, instruments, and services.
On the basis cancer type, it is classified into lung cancer, breast cancer, colorectal cancer, prostate cancer, liver cancer, and other cancer. According to circulating biomarkers, it is categorized into circulating tumor cell, extracellular vesicle, circulating tumor DNA [ctDNA], and other biomarkers.
On the basis of end user, it is classified into hospital & laboratory and government & research centers. Geographically, it is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
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KEY PLAYERS PROFILED
- Biocept, Inc.
- F. Hoffmann-La Roche AG
- Bio-Rad Laboratories Inc.
- Myriad Genetics
- Janssen Diagnostics, LLC.
- Trovagene Inc.
- Guardant Health Inc.
- MDX Health SA
KEY MARKET BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global liquid biopsy market and the current trends and future estimations to elucidate the imminent investment pockets.
- The report presents quantitative analysis of the market from 2016 to 2023 to enable stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the market based on cancer types assists to understand the trends in the industry.
- Key market players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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