Liquid Biopsy Market Insights, Trends, Opportunity & Forecast (Includes Business Impact of COVID-19)

Technology has ever since its emergence, been making its mark in the healthcare field in a remarkable fashion. With cancer considered as the second leading cause of deaths globally, technology was prominently made to show promise with the introduction of various developments and advancements to tackle the same. One such introduction among others has been that of Liquid Biopsy.

A liquid biopsy, also known as fluid biopsy or fluid phase biopsy is a largely non-invasive sampling and analysis of non-solid biological tissue, primarily blood, for diagnostic and monitoring diseases such as cancer. Liquid biopsy is the direct clinical application of two advances in medical science, namely, human genome sequencing and rising sensitivity of detecting techniques and assays. It is a test that could provide researchers, physicians and surgeons with information about the cancer profile of the patient and appropriate therapies to improve the survival rate of their patients.

Currently, tissue biopsies, along with imaging techniques, are the standard methods used in the diagnosis of solid cancers.

The biopsy probes into free-flowing circulating tumor cells, biomarkers most suited and being studied for viable commercial development are CTCs, circulating tumor DNA, and exosomes containing tumor DNA or RNA. Technologies under R&D include PCR-based assays for single gene analysis and NGS-based parallel gene analysis. And the three most potential biofluids under immense clinical observations for liquid biopsy sampling are blood, urine, and saliva.

This market is projected to expand at a mammoth CAGR in the next few years.

MARKET DRIVERS:

The growth of this market is attributed towards factors which include the increasing prevalence of cancer, preference of liquid biopsy over solid tumor biopsy, rise in awareness about minimally invasive procedures, favorable government initiatives, technological advancements, availability of funding for liquid biopsy R&D, rapid enhancements in NSG technology and increase in pre-screening programs etc.

The liquid biopsy will take a prominent position for cancer-related probe and investigation. It is rapidly substituting conventional tumor biopsies. The cancer information is obtained with the least amount of surgical invasion. Additionally, liquid biopsy reduces the apprehension of patients regarding pain. It also provides a safe and effective method for patients for whom a tissue biopsy is not possible due to associated risks.

Also, some advantages of liquid biopsies, which improve the safety and efficiency of cancer therapy for patients, include easy and non-invasive access to the tumor genome, early cancer diagnosis & detection, characterization of new lesions, drug & therapeutic target identifications for cancer treatment etc.

Liquid biopsy holds several other benefits over traditional cancer diagnostics techniques such as reduced cost, early prognosis, therapy monitoring, and detection of tumor heterogeneity, acquired drug resistance, and patient comfort.

Moreover, increasing funding for R&D in cancer is also expected to aid in growth of the market. For instance, according to the National Cancer Research Institute (NCRI), cancer research funding by NCRI partners reached around US$ 750 million in 2018/19.

However, some of the key factors restraining the growth of liquid biopsy market include alternatives to liquid biopsies, high cost of liquid biopsy, clinical utility challenges, varying levels of circulating free DNA (cfDNA) in serum and plasma, lack of sensitivity and specificity of liquid biopsy tests and unclear reimbursement & regulation scenarios.

LIQUID BIOPSY MARKET SEGMENTATION:

By Intended Audience:

• Clinical laboratories
• Research and academic institutes
• Government research organizations
• Hospitals and clinics
• Regulatory agencies
• Physician laboratories

By Product:

• Assays Kits
• Instruments
• Services

By Circulating Biomarker:

• Circulating Tumor Cells (CTCs)
• Circulating Tumor DNA (ctDNA)
• Cell-Free DNA (cfDNA)
• Extracellular Vesicles (EVs)
• Other Circulating Biomarkers

By Clinical Application:

• • Early Cancer Screening
  • Therapy Selection
  • Treatment Monitoring
  • Recurrence Monitoring Orthopedics

By Application:

• Oncology
  • Lung Cancer
  • Breast Cancer 
  • Colorectal Cancer
  • Prostate Cancer
  • Melanoma Cancer
  • Other Cancers
• Non-Cancer Application

By End User:

• Reference Laboratories 
• Hospitals and Physician Laboratories
• Academic and Research Centers
• Other End Users

By Sample Type:

• Blood Sample based
• Urine Sample based
• Other Bio Fluids (Tissue fluids and Saliva) based

By Technology:

• Multi-gene-parallel Analysis (NGS)
• Single Gene Analysis (PCR Microarrays)

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

REGIONAL INSIGHT:

While North America currently holding the largest share of the global liquid biopsy market, the Asia Pacific region is anticipated to be the largest potential market for the coming years. Owing to high incidence of cancer, growing demand for non-invasive treatment and rise in healthcare expenditure, the region is expected to experience fast-paced growth, in terms of both development and use of liquid biopsy tests and is also expected to grow at the highest CAGR.

FEW KEY PLAYERS IN LIQUID BIOPSY MARKET:

• Guardant Health
• Personal Genome Diagnostics
• Biocept
• Adaptive Biotechnologies
• Cynvenio
• NeoGenomics Laboratories
• Qiagen
• Trovagene
• RainDance Technologies
• Other Players

 RECENT DEVELOPMENTS:

• In November 2019, Lucence Diagnostics Pte Ltd, a genomic medicine company based in Singapore, raised US$ 20 Million in Series A funding.
• In January 2020, Personal Genome Diagnostics Inc. partnered with Eisai Co., Ltd. to develop a comprehensive liquid biopsy biomarker discovery solution for oncology.
• In January 2020, Saga Diagnostics signed agreements with Laboratoires Servier to perform liquid biopsy testing on cancer patients enrolled in clinical studies.
• In June 2020, NeoGenomics, Inc. announced the launch of three liquid biopsy tests for advanced non-small cell lung cancer, all solid tumor types (pan-cancer), and certain breast cancer cases.
• In June 2020, Guardant Health presented new data demonstrating that its LUNAR-2 liquid biopsy is a highly sensitive test that can detect early-stage colorectal cancer.
• In Sep 2020, Oncocyte and Chronix entered into Licensing, Collaboration Agreement for Liquid Biopsy Technology.
• In Oct 2020, Meridian Bioscience, Inc. (NASDAQ: VIVO), a leading provider of diagnostic testing solutions and life science raw materials, announced that it launched a complete solution improving the development of cancer diagnostic tests, allowing direct RNA and DNA detection from liquid biopsy samples such as whole blood.

Timeline Considered for Analysis:

- 2019: Base Year

- 2020: Estimated Year

- 2020 to 2025: Forecast Period

Research Scope and Deliverables

Overview & Executive Summary

Market Drivers, Trends, Challenges and Opportunities

Market Size and Forecast Projections

Macroeconomic Indicators of Various Countries Impacting the Growth of the Market

Extensive Coverage of Industry Players including Recent Product Launches and Market Activities

Porter’s Five Force Analysis

Market Segmentation Analysis:

Industry report analyses the global liquid biopsy market by the following segments:

- Intended Audience

- Product

- Circulating Biomarker

- Clinical Application

- Application

- End User

- Sample Type

- Technology

Customization: We also offer customization’s in the industry report as per the company’s specific needs.

Key Questions Answered in the Global Liquid Biopsy Industry Report

• What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
• Which region would have high demand for product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are various long-term and short-term strategies adopted by the market players?