The liquid biopsy in cancer diagnostics market is anticipated to experience growth due to factors such as the increasing occurrence of diverse cancers, rising interest in minimally invasive procedures, growing demand for precision medicine, and ongoing technical innovations in product development, among other contributing factors.
LAS VEGAS, Jan. 19, 2024 /PRNewswire/ -- DelveInsight's Liquid Biopsy in Cancer Diagnostics Market Insights report provides the current and forecast market analysis, individual leading liquid biopsy in cancer diagnostics companies' market shares, challenges, liquid biopsy in cancer diagnostics market drivers, barriers, trends, and key market liquid biopsy in cancer diagnostics companies in the market.
Key Takeaways from the Liquid Biopsy in Cancer Diagnostics Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global liquid biopsy in cancer diagnostics market during the forecast period.
- Notable liquid biopsy in cancer diagnostics companies such as Myriad Genetics Inc, Exact Sciences Corporation, Biocartis, Sysmex Corporation, Thermo Fisher Scientific Inc, Biocept Inc, Agilent Technologies Inc., MDx Health, Neogenomics Laboratories, F. Hoffman La Roche Ltd, Guardant Health, Bio-Techne, Illumina Inc, QIAGEN, Lucence Health Inc, Personal Gemone Diagnostics Inc, SAGA Diagnostics, Agena Bioscience Inc, The Menarini Group, MiRXES Pte Ltd., and several others, are currently operating in the liquid biopsy in cancer diagnostics market.
- In January 2024, PrognomiQ, a healthcare firm dedicated to leveraging multi-omics data to revolutionize the early identification, treatment choice, and monitoring of cancer and intricate diseases, revealed encouraging findings from the most extensive deep multi-omics investigation to date. The study, available online in medRxiv, concentrated on individuals with susceptibility to lung cancer and showcased the effectiveness of multi-omics in achieving both heightened sensitivity and specificity for the early detection of lung cancer in its initial stages.
- In January 2024, Aditxt, Inc., a firm committed to exploring, advancing, and implementing promising healthcare breakthroughs, declares the successful acquisition of MDNA Life Sciences Inc.'s exclusive platform for early disease and cancer detection. This strategic decision further underscores Pearsanta, Inc.'s commitment to improving patient outcomes by focusing on early disease detection and the effectiveness of precision diagnostics.
- In January 2024, PanGIA Biotech, a biotechnology firm headquartered in the United States, is on a mission to create scalable liquid biopsy technology with a global reach. The company has revealed that it is in the final stages of completing a three-year prospective multicenter clinical study focused on liquid biopsy for prostate cancer.
- In December 2023, Exai Bio revealed recent findings showcasing the capability of its innovative liquid biopsy platform, which combines RNA technology with artificial intelligence. The platform can identify breast cancer in its earliest phases and detect even the smallest tumors, such as ductal carcinoma in situ (DCIS), using a regular blood sample. In a fresh study focused on early detection and expanding on previous results, the sensitivity for stage I breast cancer reached 87%, and the sensitivity for tumors of size T1a-b (10 mm or smaller) was 81%, both with a specificity of 90%.
To read more about the latest highlights related to liquid biopsy in cancer diagnostics market, get a snapshot of the key highlights entailed in the Global Liquid Biopsy in Cancer Diagnostics Market Report
Liquid Biopsy in Cancer Diagnostics Overview
Liquid biopsy is a revolutionary approach in cancer diagnostics that has emerged as a promising alternative to traditional tissue biopsies. Unlike conventional biopsies, which involve invasive procedures to extract tissue samples, liquid biopsy harnesses the power of a patient's blood or other bodily fluids to detect and analyze cancer-related genetic mutations, circulating tumor cells (CTCs), and cell-free DNA (cfDNA). This non-invasive technique offers a dynamic and real-time view of the tumor's genetic landscape, enabling oncologists to monitor disease progression, assess treatment response, and identify potential therapeutic targets with greater precision.
Liquid biopsy has shown particular utility in cases where obtaining tissue samples is challenging or risky, such as in metastatic cancers or when the tumor location is inaccessible. The ability to obtain valuable genetic information from a simple blood draw represents a significant advancement in personalized medicine, allowing for more timely and tailored interventions in the evolving landscape of cancer care. As research in this field continues to expand, liquid biopsy holds immense promise for improving early detection, monitoring treatment efficacy, and guiding therapeutic decisions in the realm of cancer diagnostics.
Liquid Biopsy in Cancer Diagnostics Market Insights
Among all regions, North America is projected to hold a substantial portion of the market share within liquid biopsy for cancer diagnostics. This prominence is anticipated due to several factors such as the rising incidence of cancers, an amplified emphasis on oncology research, supportive governmental initiatives endorsing liquid biopsy exploration, and a favorable landscape for product innovation and introduction in the area. Within North America, the United States, specifically, contributed to 87% of the revenue share in the liquid biopsy for cancer diagnostics market in 2022. This high adoption rate within the country can be attributed to its elevated prevalence of cancer cases.
Moreover, patients may face substantial costs associated with cancer diagnosis and treatment, even with medical insurance coverage. The inclusion of liquid biopsy tests in insurance and reimbursement initiatives provided by the US government serves as an additional incentive for their adoption among end users. As an illustration, InVisionFirst®, a Liquid Biopsy for Lung Cancer Patients, falls under the coverage of CMS National Coverage Policy. Consequently, these factors are anticipated to propel the market for liquid biopsy in cancer diagnostics in the United States.
To know more about why North America is leading the market growth in the liquid biopsy in cancer diagnostics market, get a snapshot of the Liquid Biopsy in Cancer Diagnostics Market Outlook
Liquid Biopsy in Cancer Diagnostics Market Dynamics
The rising prevalence of cancer and the increasing adoption of liquid biopsy in cancer diagnostics are significant factors propelling the growth of liquid biopsy in cancer diagnostics market. The heightened demand for liquid biopsy is primarily driven by the surge in cancer cases. Additionally, the growing emphasis on precision medicine in cancer treatment contributes substantially to the escalating interest in liquid biopsy for diagnostic purposes. Precision medicine, characterized by tailoring treatment plans based on the specific biological characteristics of tumors, represents a novel approach in cancer care. The applications of precision medicine extend across various clinical aspects, including screening, diagnosis, prognosis, predicting treatment responses and resistance, early detection of recurrence/metastasis, and the biological stratification of cancer. Liquid biopsies emerge as a promising avenue for personalized medicine, offering the advantage of multiple non-invasive global snapshots of both primary and metastatic tumors.
The widespread acceptance and focus of physicians on tailoring treatments to individual health conditions have led to increased attention to personalized medicine. Liquid biopsy, a crucial element in crafting customized treatments, plays a significant role in this regard. By offering real-time information about the tumor profile, it guides decisions on subsequent treatment steps. Market players are recognizing the potential of liquid biopsy, as evident from their heightened interest in developing products within this field. As a result, the growing significance of precision medicine, coupled with the advantages of liquid biopsy, is expected to contribute to the expansion of liquid biopsy within the cancer diagnostics market in the forecast period.
Nevertheless, the potential for inaccurate outcomes arising from procedural constraints and the absence of standardized procedures could pose significant challenges to the expansion of the liquid biopsy market in cancer diagnostics.
Get a sneak peek at the liquid biopsy in cancer diagnostics market dynamics @ Liquid Biopsy in Cancer Diagnostics Market Dynamics Analysis
Report Metrics | Details |
Coverage | Global |
Study Period | 2020-2028 |
Liquid Biopsy in Cancer Diagnostics Market CAGR | ~17% |
Liquid Biopsy in Cancer Diagnostics Market Size by 2028 | USD 19.24 Billion |
Key Liquid Biopsy in Cancer Diagnostics Companies | Myriad Genetics Inc., Exact Sciences Corporation, Biocartis, Sysmex Corporation, Thermo Fisher Scientific Inc., Biocept Inc., Agilent Technologies Inc., MDx Health, Neogenomics Laboratories, F. Hoffman La Roche Ltd, Guardant Health, Bio-Techne, Illumina Inc, QIAGEN, Lucence Health Inc, Personal Gemone Diagnostics Inc, SAGA Diagnostics, Agena Bioscience Inc, The Menarini Group, MiRXES Pte Ltd., among others |
Liquid Biopsy in Cancer Diagnostics Market Assessment
- Liquid Biopsy in Cancer Diagnostics Market Segmentation
- Liquid Biopsy in Cancer Diagnostics Market Segmentation By Type: Product Type [Instruments and Reagents & Kits] and Services), Sample Type (Blood, Urine, and Saliva), Biomarker Type (Circulating Tumor Cells, Circulating Tumor DNA, Circulating Free DNA, and Others), Cancer Type (Lung Cancer, Breast Cancer, Colon Cancer, and Others)
- Liquid Biopsy in Cancer Diagnostics Market Segmentation By Technique: Polymerase Chain Reaction and Next Generation Sequencing
- Liquid Biopsy in Cancer Diagnostics Market Segmentation By End User: Hospitals, Diagnostic Centers, and Others
- Liquid Biopsy in Cancer Diagnostics Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View
Which MedTech key players in the liquid biopsy in cancer diagnostics market are set to emerge as the trendsetter explore @ Liquid Biopsy in Cancer Diagnostics Companies
Table of Contents
1 | Report Introduction |
2 | Executive summary |
3 | Regulatory and Patent Analysis |
4 | Key Factors Analysis |
5 | Porter's Five Forces Analysis |
6 | COVID-19 Impact Analysis on Liquid Biopsy in Cancer Diagnostics Market |
7 | Liquid Biopsy in Cancer Diagnostics Market Layout |
8 | Global Company Share Analysis - Key 3-5 Companies |
9 | Liquid Biopsy in Cancer Diagnostics Market Company and Product Profiles |
10 | Project Approach |
11 | About DelveInsight |
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