Published Year: 2022
Liquid Biopsy Market - A Global and Regional Analysis: Focus on Offering, Usage, Workflow, Circulati
The global liquid biopsy market is projected to reach $19,066.0 million by 2032 from $2,508.2...
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Industry & Technology Overview
Middle East Liquid Biopsy Market: Industry Overview
In 2021, the Middle East liquid biopsy market was valued at $43.7 million, and it is expected to reach $175.2 million by 2032, growing at a CAGR of 13.68% during the forecast period 2022-2032. The Middle East liquid biopsy market is expected to witness high growth due to the rising incidence of cancer, the increasing fund infusions for conducting research to discover novel biomarkers, and the growing emphasis on the use of non-invasive methodologies for performing a liquid biopsy. The constant significant investments by healthcare companies to meet industry demand and the increasing adoption of liquid biopsy among major end users are significant factors propelling the growth of the Middle East liquid biopsy market.
Market Lifecycle Stage
A liquid biopsy is an emerging approach for disease treatment and prevention that considers individual variability in genes, environment, and lifestyle for each person. The ultimate goal of liquid biopsy is to provide the right treatment, to the right patient, at the right time. The liquid biopsy research is being conducted for several disease areas such as oncology, immunology, neurology, and infectious diseases. Liquid biopsy is one of the most modernized trends in the healthcare industry, which has shown tremendous progress in 2019-2021. The use of non-invasive liquid biopsy for analyzing fetal cell-free DNA (cfDNA) can offer critical information, which could tell the physician and the mother whether to continue a pregnancy or not. In addition, research is also being conducted to assess the clinical potential of extracellular vesicles (EVs) to screen metabolic disorders, including diabetes. It is worth mentioning here that EVs contain nucleic acids, particularly microRNA (miRNA), which is an excellent source to monitor the progression of metabolic disorders. With the incorporation of molecular technologies, researchers and clinicians could offer insights regarding the onset of metabolic disorders and the early diagnosis of diabetes-related microvascular complications in patients. Significant fund infusions are being provided to companies and academic research institutes to examine the potential of circulating nucleic acids present in the non-invasive samples, which could offer massive opportunities to the Middle East liquid biopsy market in the forthcoming years.
Figure: Middle East Liquid Biopsy Market Snapshot
Source: BIS Research Analysis
Impact
• The presence of major service providers of liquid biopsy products in the Middle East region has a significant impact on the market. For instance, Illumina, Inc. provides NovaSeq 6000 S2, Reagent Kit, NovaSeq 6000 S4 reagent kit, and NovaSeq Xp 4-lane kit in the Middle East.
• Companies such as F. Hoffmann-La Roche Ltd offer FoundationOne Liquid. It is a U.S. Food and Drug Administration-approved product that assesses guideline-recommended genes from a simple blood draw method. It is the only FDA-approved blood-based test that analyzes more than 300 genes. The presence of such products has a positive impact on market growth.
Impact of COVID-19
The current Middle East liquid biopsy market study comprises products and services utilized to analyze underlying alterations in circulating biomarkers from non-invasive sample types. Since the market is primarily dominated by the clinical utility of products and services, the COVID-19 pandemic had a high impact on the growth and revenue generated from the market. The current market assessment has considered information provided by key opinion leaders in the market from both supply and demand sides. Although manufacturers have witnessed low-scale losses due to decreased demand, the losses incurred for the first two quarters of FY2020-2021 are anticipated to be compensated by higher demands in the following two quarters in FY2021.
However, the industry is still expected to be impacted significantly during the period 2020-2022. The low influx of cancer patients in hospitals and diagnostic laboratories has massively impacted the sales of Exact Sciences' Cologuard test. In 2020, Exact Sciences Corporation was the market leader in the non-invasive liquid biopsy ecosystem, having a 74.31% share in the Middle East liquid biopsy market. Some respondents also stated that they had to delay their product launches due to the ensuing restrictions, which massively impacted market growth. Nevertheless, they are still planning to launch the respective products within theFY2021. As of the current situation, strategies to bolster sales in the last two quarters in order to negate the impact of the COVID-19 pandemic invariably include aggressive marketing and discounted prices offered for existing portfolios. It is expected that, with the restrictions gradually being removed from several regions around the world, coupled with research activities resuming normalcy, the market will face a low impact on the annual revenue generation.
Market Segmentation
Segmentation 1: by Technology
• Polymerase Chain Reaction (PCR)
• Next-Generation Sequencing (NGS)
• Fluorescence In-Situ Hybridization (FISH)
• Other Technologies
The Middle East liquid biopsy market (by technology) was dominated by the next-generation sequencing (NGS) segment in 2021. This was due to an increasing number of NGS kits that providers offer to their end users.
Segmentation 2: by Workflow
• Sample Preparation
• Library Preparation
• Sequencing
• Data Analysis
In 2021, the library preparation segment dominated the Middle East liquid biopsy market (by workflow) due to an increasing number of patients suffering from cancer. According to the data published by the World Health Organization, cancer is a leading cause of death, with nearly 10 million deaths reported in 2020.
Segmentation 3: by Usage
• Research Use Only (RUO)
• Clinical
The Middle East liquid biopsy market (by usage) was dominated by the research use only segment in 2021. This growth was attributed to the academic research and industry collaboration in the Middle East region. Moreover, the technological advancement in RUO products is boosting the growth of the Middle East liquid biopsy market.
Segmentation 4: by Sample
• Blood
• Urine
• Saliva
• Cerebrospinal Fluid
In 2021, the Middle East liquid biopsy market (by sample) was dominated by the blood segment owing to an increasing number of patients suffering from different cancers.
Segmentation 5: by Circulating Biomarker
• Circulating Tumor Cells (CTCs)
• Cell-Free DNA (cfDNA)
• Circulating Cell-Free RNA
• Exosomes and Extracellular Vesicles
• Other Circulating Biomarkers
The Middle East liquid biopsy market (by circulating biomarker) in 2021 was dominated by the cell-free DNA segment due to an increasing number of research studies pertaining to liquid biopsy segment.
Segmentation 6: by Product
• Tests/Services
• Kits and Consumables
• Instruments
The tests/services segment dominated the Middle East liquid biopsy market (by product) in 2021 due to the continued significant investments by healthcare companies to meet industry demand for tests/services, and the growing adoption of liquid biopsy tests among major end users were the key factors propelling the growth of the segment.
Segmentation 7: by Country
• K.S.A.
• Israel
• Egypt
• U.A.E.
• Iran
• Qatar
• Rest-of-the-Middle East
The K.S.A. generated the highest revenue of $13.5 million in 2021, which is attributed to the R&D advancements in the field of single-cell analysis and the presence of dominating players operating in the Middle East liquid biopsy market.
Recent Developments in Middle East Liquid Biopsy Market
• In October 2020, Bio-Rad Laboratories launched the CFX Opus 96 Dx System and CFX Opus 384 Dx System. The product could multiplex about five samples to offer effective in-vitro diagnostics (IVD) assay development and testing. The product has been commercialized in the Middle East region.
• In March 2021, F. Hoffmann-La Roche Ltd released the AVENIO Tumor Tissue CGP Kit, enabling laboratories to extend their oncology research in-house.
• In June 2019, F. Hoffmann-La Roche Ltd partnered with the Health Authority and an international health insurer, AXA, in Dubai. This partnership would develop funding for diagnostic and treatment for breast, colorectal, and cervical cancers.
Demand – Drivers and Limitations
Following are the demand drivers for the Middle East liquid biopsy market:
• Liquid Biopsy Demand Inclined by Rising Prevalence of Cancer
• Rise in Patient Preference for Non-Invasive Cancer Diagnosis
• Potential of Liquid Biopsy
The market is expected to face some limitations too due to the following challenges:
• False Negatives and Positives
• Existing Diagnostic Confidence in Traditional Tissue-Based Diagnosis Practices
Analyst Thoughts
According to Nitish Kumar, Principal Analyst, BIS Research, "The liquid biopsy market is an emerging segment comprising the overall diagnostics ecosystem. Moreover, the increasing prevalence of cancer and technological advancement in liquid biopsy are the significant factors driving the growth of the Middle East liquid biopsy market."
Middle East Liquid Biopsy Market - Country Analysis
Focus on Product, Technology, Indication, Sample, Workflow, Circulating Biomarker, Usage, and Country Data - Analysis and Forecast, 2022-2032
Some Faq's
Frequently Asked Questions
Liquid biopsy products and services are used for identifying and analyzing circulating biomarkers, including circulating tumor DNA (ctDNA), circulating tumor cells (CTCs), circulating microRNA (miRNA), DNA methylation-based biomarkers, exosomes, and extracellular vehicles (EVs), among others, from non-invasive sample types. Thus, liquid biopsy is a non-invasive medical procedure that holds the ability to detect the presence of molecular cancer biomarkers in biological fluids. The report includes market estimation for tests/services, instruments, and kits and consumables used for liquid biopsy of different oncology and non-oncology disorders.
The rising prevalence of cancer, particularly in the elderly population, is another factor contributing to the market's growth. In recent years, the rise in patient preference for non-invasive cancer diagnosis is expected to follow the same trends in the future. The amalgamation of artificial intelligence (AI) in personalized cancer care is a potential opportunity in the Middle East liquid biopsy market. Since AI-based solutions can directly identify genomic alterations from the urine and saliva sample specimens, they have the potential to outpace conventional blood-based liquid biopsies and tissue-based biopsies in early cancer detection and monitoring.
The Middle East liquid biopsy market has seen significant development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. According to BIS Research analysis, the majority of the companies preferred partnerships, collaborations, and joint ventures as a strategy to further increase their growth in the liquid biopsy market. Companies such as Illumina, Inc., Natera, Inc, and QIAGEN N.V. have majorly adopted partnerships, collaborations, and joint venture strategies.
A new entrant can focus on various oncology application-based products offered by established market players in the liquid biopsy market.
• Extensive competitive benchmarking of the top 13 players has been done to offer a holistic view of the Middle East liquid biopsy market landscape
• Market ranking analysis based on product portfolio, recent developments, and regional spread
• Investment landscape including product adoption scenario, funding, and patent analysis
End users such as liquid biopsy product manufacturing companies manufacturing kits and consumables, pharmaceutical companies, and research institutions.
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