Healthcare publisher, Kalorama Information, shares insights from
its latest report on The World Liquid Biopsy Market
ARLINGTON, Va., April 30,
2022 /PRNewswire-PRWeb/ -- There are over 40
companies active in the $1 billion
global market for liquid biopsy diagnostics and monitoring tests.
And demand is growing swiftly, at a projected compound annual
growth rate (CAGR) of 29.5% over the next five years, as patients,
clinicians, and payors increasingly accept liquid biopsy as an
alternative or complementary procedure to traditional tissue
biopsies, reports leading medical market research publisher
Kalorama Information in the new report, The World Liquid Biopsy
Market. Kalorama Information ultimately forecasts the global market
for liquid biopsy diagnostic tests will approach $3.6 billion by 2026.
"The market for liquid biopsy testing, still in its infancy, is
rapidly evolving as vendors develop and commercialize innovative
new technologies," says Bruce
Carlson, publisher for Kalorama Information. "In a very
short period of time, the market will more than double from its
current size as of 2021."
Liquid biopsy, which is also known as fluid biopsy, encompasses
a collection of diagnostic techniques that use biological fluid
specimens to provide information in the diagnosis and monitoring of
diseases, particularly cancer. Blood is the most commonly tested
sample type, but urine, ascites, or pleural effusions can also be
used for liquid biopsy. Currently, tissue biopsies, combined with
imaging techniques, are the standard methods used in the diagnosis
of solid tumors. However, these methods have many limitations,
leaving opportunity for the development of other diagnostic
technologies.
Presently, North America, and
specifically the United States, is
the largest regional market for liquid biopsy. The majority of
participants in the liquid biopsy market are based in the U.S., and
many focus their attention and marketing efforts exclusively on the
U.S. market. Consequently, over half of liquid biopsy revenues
generated in 2021 were estimated to be from the U.S. The
next-leading regional market is Europe, as a significant proportion of liquid
biopsy tests have been granted CE-IVD marking, granting them market
access throughout the European Union, as well as other countries
that recognize the CE-mark, in Europe and beyond. Future growth is expected
to be robust in all regions, not just the U.S. and Europe. The Asia
Pacific region is expected to see the highest growth
globally, as awareness and accessibility of liquid biopsy
improve.
The liquid biopsy market is largely driven by the strong demand
for non-invasive cancer diagnostic and monitoring tests, and the
high incidence of the disease. While current market participants
approach liquid biopsies using a variety of technologies and
methods, the general focus for clinical use revolves around
detection of clinically actionable molecular targets that have
approved therapies. Another area that is quickly gaining interest
is the development of diagnostic tests for the detection of cancer
at earlier stages, when the chances of successful treatment and
survival are greater. These driving forces will continue to exert
major influences on the evolution of liquid biopsy technology and
focus.
The rising prominence of personalized healthcare is shifting how
cancer treatment is approached, away from non-specific
chemotherapy, and towards targeted and immunotherapeutic approaches
that are selected based on the characteristics of an individual
patient's disease. Development of cancer therapeutics by the
pharmaceutical and biotech industries has, for over a decade, been
focused on targeting various specific cancer biomarkers. Many
targeted therapeutics are approved and commercially available, and
many more are in development or undergoing clinical trials.
Targeted approaches require that a patient's cancer be
characterized, to determine the mutation status of a tumor, either
through tissue or liquid biopsy. To further complicate matters,
tumors and their metastases evolve over time, with new biomarkers
arising. The growing complexity of cancer care will drive the need
and use of more than one diagnostic and monitoring approach, which
will increasingly include liquid biopsy.
Liquid biopsy testing has many potential applications in aspects
of clinical oncology, including:
- Early detection and diagnosis/screening
- Alternative testing method when tissue biopsy is
difficult/impossible, or when the primary site of metastatic
disease is unknown
- Therapy personalization and monitoring – by molecular
characterization of a patient's disease, clinicians can select the
optimal course of therapy and monitor efficacy over time, as well
as quickly react to adjust therapy should treatment resistance
arise
- Disease monitoring – to observe disease progression, tumor
evolution, residual disease, and early detection of recurrence
- Prognosis of disease
Despite the perceived advantages of liquid biopsy compared to
existing diagnostic methods, the market is subject to various
challenges which have tempered growth. While liquid biopsy tests
have been steadily gaining regulatory approval, medical
associations have been slower to recognize clinical utility or
include liquid biopsy in their guidelines.
Purchase The World Liquid Biopsy Market for more insights by
visiting:
https://kaloramainformation.com/product/the-world-liquid-biopsy-market-2021/.
About Kalorama Information:
Kalorama Information is the leading publisher of market research in
healthcare areas, including in vitro diagnostics (IVD),
biotechnology, medical devices, and pharmaceuticals. Science and
Medicine Group supports companies seeking to commercialize the
rapidly changing marketplace at the intersection of science,
medicine, and technology. Comprised of industry-leading brands,
Science and Medicine Group serves analytical instrument, life
science, imaging, and clinical diagnostic companies by helping them
create strategies and products to win markets and provide platforms
to digitally engage their markets through a variety of innovative
solutions. Kalorama Information produces 30 reports a year. The
firm offers a Knowledge Center, which provides access to all
published reports.
Media Contact
Bruce Carlson, Kalorama
Information, 703-783-1747,
bruce.carlson@kaloramainformation.com
SOURCE Kalorama Information