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Global Liquid Biopsy Market is poised to witness a significant CAGR of 17% by 2026
Growing prevalence of cancer, rising preference for non-invasive therapies, awareness regarding liquid biopsy and technological advancements in cancer diagnosis using liquid biopsy are some of the key factors driving the global liquid biopsy market.
Advent of Advanced Technologies for Liquid Biopsy Drives the Global Market
Liquid biopsy is an emerging technology and has the potential to revolutionize early cancer detection by analyzing available ctDNA for specific mutation profiles, fragmentation patterns, and methylation signatures. The significant developments in a digital polymerase chain reaction (PCR) and next-generation sequencing (NGS) technologies has led to a significant reduction in sequencing cost with the improvement in the accuracy of liquid biopsy.
Adoption of Circulating Biomarkers for Early Detection and Screening of Cancer
Presently, circulating cell-free DNA (cfDNA) and circulating tumor cells (CTCs) are the most commonly used liquid biopsy-derived biomarkers. In the recent years, CTCs have gained a significant importance in detecting tumors, replacing invasive tissue biopsies not only due to their ease in sampling but also in providing data regarding tumor conditions in a 'real-time' manner.
Upcoming Market Challenges: Liquid Biopsy Market
Some of the emerging challenges restricting the growth of the liquid biopsy market are stringent government regulations, suboptimal patient adherence, low sensitivity for early-stage disease and high false-positive rates. The wrong diagnosis can lead to false-negative results which can impact the informative value of the liquid biopsy tests for cancer.
Geographic Outlook: North America Leads the Adoption of Liquid Biopsy Market
From a geographical perspective, North America holds the largest market share of the liquid biopsy market. The growing cancer cases among the population in USA, increased adoption of liquid biopsy for the diagnosis of cancer, higher patient preference for non-invasive diagnosis and monitoring and the presence of major industry players in this region are some of the key factors driving the market growth.
Competitive Landscape Analysis: Global Liquid Biopsy Market
Some of the key industry players operating in the liquid biopsy market are F. Hoffmann-La Roche Ltd., Myriad Genetics Inc., QIAGEN N.V., Thermo Fisher Scientific Inc., Guardant Health Inc., MDxHealth SA, and Illumina Inc., among others.
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