Liquid Biopsy Market Size, Share & Trends Analysis Report By Biomarker (Exosomes, CTC), By Technology (NGS, PCR Microarrays), By Sample Type, By Region (APAC, North America), And Segment Forecasts, 2021 - 2028

Report Overview

The global liquid biopsy market size was valued at USD 7.03 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 13.5% during the forecast period. The increasing prevalence of cancer coupled with the rise in demand for fast, minimally invasive diagnostic tests drives the market growth. According to the American Cancer Society, in 2021, 235,760 people are estimated to be diagnosed with non-small-cell lung cancer, the most common form of lung cancer in the U.S. Overall, around one in 17 men and one in 15 women are at risk of developing lung cancer in their lifetime. Thus, the need for the implementation of liquid biopsy tests is growing to diagnose and eradicate cancer in a target population.

With the onset of the COVID-19 pandemic, cancer diagnoses are getting delayed as diagnosis services and screening programs have reduced. Cancer patients are facing many challenges amid the pandemic, such as susceptibility to severe infection and interruption of cancer or usual medical care.

Amidst the pandemic, several companies have adopted various strategic initiatives for providing safe and easy in-home access for liquid biopsy tests. For instance, in November 2020, NeoGenomics, Inc. launched a mobile phlebotomy service for liquid biopsy tests, including NeoLAB and InvisionFirst. The company offers its service through two phlebotomy companies, ExamOne and Metro Health Staffing LLC, for broad geographic coverage to ensure tests are performed efficiently. In these cases, liquid biopsy provides an efficient alternative to traditional screening. The technology assists in early cancer detection and prevents the disease to reach a stage when it can adversely affect a patient’s survival. Liquid biopsies are extremely sensitive and are based on blood tests. In addition, they can reduce the risk of COVID-19 transmission during the procedure, which is expected to be a major factor fueling the global market growth.

Researchers from Cornell University are developing a liquid biopsy test that can detect and measure injury to cells, tissue, and organs due to COVID-19. The test is to evaluate the severity of the disease and project their outcomes. In addition, it can reveal the involvement of various organs in the disorder. This is expected to increase R&D funding, further stimulating market growth.

Technology Insights

The Multi-gene-parallel Analysis (NGS) segment accounted for the largest revenue share of over 73% of the global market in 2020 and is anticipated to maintain its dominance over the forecast period. NGS technology can detect various mutations that could be responsible for tumorigenesis and detect resistance mechanisms that may have developed from pre-existing clones after treatment.

Recently, rapid developments in NGS technology have led to significant cost reduction in sequencing with high accuracy. This technology is used in targeted panels for specific and highly sensitive ctDNA mutation detection and allows screening of unknown variants. For instance, NGS can detect 59% of stage 1 or 2 lung cancer patients with MAF around 0.1%.

Furthermore, key operating players have introduced innovative products, thus driving the market. For instance, in February 2021, Twist Bioscience Corp. launched Twist NGS Methylation Detection System for liquid biopsy cancer analysis and epigenetic studies. In addition, in April 2021, Biodesix, Inc. declared its plan to launch a blood-based 52-gene NGS test to enhance its portfolio of molecular testing.

Biomarker Insights

Circulating Nucleic Acids accounted for the largest revenue share of 36.68% in 2020. Wide applications of circulating tumor DNA (ctDNA) in liquid biopsy of cancer drives the segment. Over the recent years, ctDNA-based liquid biopsy analysis has created new opportunities in molecular diagnosis and monitoring of cancer. It is capable of precisely determining tumor progression, prognosis, and assisting in targeted therapy.

Translational cancer researchers are using liquid biopsies to identify ctDNA from tumors. The detection of ctDNA serves as a potential biomarker and provides a great opportunity in future liquid biopsy applications for cancer detection. Compared to invasive procedures, ctDNA has been provided as an alternative source to carry out molecular profiling of tumor DNA in patients with cancer.

Exosomes/Microvesicles are anticipated to grow with the fastest CAGR from 2021 to 2028. A rise in the adoption of exosomes as a liquid biopsy in oncology clinical diagnosis coupled with the introduction of novel products drives the segment growth. In September 2021, miR Scientific presented data for its miR Sentinel Prostate Cancer Test at the American Urological Association’s (AUA) 2021 Annual Meeting. This exosome-based liquid biopsy test uses a single urine sample to detect prostate cancer with an accuracy of 90%.

Sample Type Insights

Blood sample-based tests dominated the market with a revenue share of over 69%. A blood-based test is non-invasive, has no risk, and is painless. In addition, it reduces the cost and time taken for diagnosis. CTCs, cfDNAs, and exosomes, as well as microvesicles, can be detected in the blood sample, thus increasing the adoption of blood-based liquid biopsy.

The circulating biomarkers in blood play a vital role in understanding tumorigenesis and metastasis, which further can help determine tumor dynamics at the time of treatment and disease progression. In addition, ongoing research on blood-based tests for cancer is expected to drive the market.

For instance, in August 2021, a research group at Exact Sciences and UW-Madison started working on liquid biopsies for cancer, including a blood test that helps detect genetic mutations in tumors targeted by drugs. This test can detect recurrence of cancer after treatment as well as help in the early detection of the disease.

Regional Insights

North America accounted for the largest revenue share of over 51% in 2020. The regional market is led by the U.S. owing to greater investments and the presence of a number of biotechnology companies developing the tests. Various organizations, such as the American Society of Clinical Oncology (ASCO), aid the implementation of liquid biopsy. This, in turn, is anticipated to boost the market growth in this region.

Canada follows the U.S. in the adoption of liquid biopsy tests, as FDA-approved tests are permitted to be used in the country. Moreover, many biotechnology companies are competing in the market, which is expected to drive market growth during the forecast period. An increase in grants and investments by the government for the development of liquid biopsy tests is expected to boost the market in the country.

For instance, in June 2021, BioMark Diagnostic Solutions, Inc. received USD 825,000 funding to develop BioMark’s liquid biopsy assay for screening lung cancer. A major part of the funding is being issued by Consortium for Industrial Research and Innovation in Medical Technology and Spark grants from the Canadian Cancer Society, Brain Canada Foundation, and Canadian Institutes of Health Research - Institute of Cancer Research.

Key Companies & Market Share Insights

Players operating in the market are contributing to market growth by expanding their cancer diagnostics portfolios, which is leading to an increase in the uptake of their proprietary liquid biopsy products.

For instance, F. Hoffmann-La Roche AG emerged as one of the key industry participants in the global market. In August 2020, the company announced that it has received approval for its FoundationOne Liquid CDx for diagnosis of solid tumors by the U.S. FDA.

In May 2020, the BRACAnalysis CDx test by Myriad Genetics was approved by FDA for use as a companion diagnostic by clinicians to detect metastatic castration-resistant prostate cancer in men. This test applies to those who are eligible for treatment with Lynparza. Some of the key players of the global liquid biopsy market are:

• QIAGEN

• Myriad Genetics, Inc.

• BIOCEPT, Inc.

• Guardant Health, Inc.

• F. Hoffmann-La Roche Ltd.

• Illumina, Inc.

• Angle plc

• Oncimmune

• Thermo Fisher Scientific, Inc.

• Lucence health Inc.

• FreenomeHoldings, Inc.

• EPIGENOMICS AG

Liquid Biopsy Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research, Inc. has segmented the global liquid biopsy market report on the basis of sample type, biomarker, technology, and region:

• Sample Type Outlook (Revenue, USD Million, 2017 - 2028)

  • Blood Sample-based

  • Others

• Biomarker Outlook (Revenue, USD Million, 2017 - 2028)

  • Circulating Nucleic Acids

  • CTC

  • Exosomes/Microvesicles

  • Circulating Proteins

• Technology Outlook (Revenue, USD Million, 2017 - 2028)

  • Multi-gene-parallel Analysis (NGS)

  • Single Gene Analysis (PCR Microarrays)

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa