Report Description:

Global Liquid Biopsy Market was valued at $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 tests are executed to understand the molecular aspects of cancer across the healthcare and research settings, such as hospitals, physicians, pathological and research laboratories. It is a non-invasive blood test that could provide researchers, physicians, and surgeons with information about the cancer profile of the patient and appropriate therapy to improve the survival rate of the cancer patients. It is a rapid process that usually includes a simple blood draw, extraction of nucleic acids from the blood plasma, and amplification of the molecular targets to permit analysis of the defined biomarkers. Easy and non-invasive access to the tumor genome, early cancer diagnosis & detection, characterization of new lesions, drug & therapeutic target identifications for cancer treatment are some advantages of liquid biopsies, which improve the safety and efficiency of cancer therapy for patients.

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The advantages of liquid biopsy over solid tumor biopsy, rise in awareness about minimally invasive procedures, favorable government initiatives, and presence of huge cancer population base are major factors that drive the market growth.

The global liquid biopsy market is segmented based on product & service, circulating biomarker, cancer type, end user, and geography. Based on product & service, it is categorized into reagents, instruments and services. On the basis of circulating biomarker, it is classified into circulating tumor cells, circulating tumor DNA, extracellular vesicles and other biomarkers. The market is studied across different cancer types, such as lung, breast, colorectal, prostate, liver, and other cancers. Based on end user, it is bifurcated into hospitals & laboratories and government & academic research centers. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The market is expected to witness a moderate growth during the forecast period, owing to the benefits offered by liquid biopsies over solid tissue biopsy methods. Furthermore, surge in prevalence of cancer and rise in awareness about minimally invasive methods among the patient pool are anticipated to augment the market growth. The increase in pre-screening programs for cancer detection is expected to present various opportunities for market expansion. However, alternatives to liquid biopsies and unclear reimbursement & regulation scenario are expected to hamper the market growth.