Published Year: 2020
Global Liquid Biopsy Market: Focus on Market Segmentation by Product Type, by Indication Type, by Te
The global liquid biopsy market is projected to reach $12,933 million by 2030 from $2588.6...
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Market Overview
Market Overview and Estimation
Cancer is estimated as the leading cause of death worldwide and accounted for an around 9.6 million deaths in 2018, as per WHO. The treatment of cancer is highly dependent on profiling a piece of biopsied tumor tissue. The ease of acquiring the tissue, however, depends greatly on the patient’s condition and tumor accessibility. For example, in advanced or metastatic non-small cell lung cancers (NSCLC), there are over 31% chances of not having an accessible tissue.
Likewise, the cancers associated with late-stage presentation of symptoms are often difficult to diagnose in their asymptomatic phase. Furthermore, since the tumors are characterized by intra-tumor heterogeneity, a tissue biopsy might fail in capturing the newly evolving and genetically distinct cells. Adequate supervision of cancer also involves periodic monitoring to check for progression and recurrence, and since biopsy is painful and expensive, there is a high degree of patient non-compliance toward tissue biopsy.
Moreover, the imaging modalities including ultrasound, positron emission tomography (PET), computed tomography (CT), and magnetic resonance imaging (MRI) are incapable of detecting many early stage cancers and even the small metastatic tumors. While these challenges have hampered the process of effective cancer management, the use of minimally invasive biopsy technologies to capture the genomic content in various body fluids such as blood, urine, saliva, sweat, breath, and tears combined with sensitive genotyping assays is becoming increasingly prevalent.
The minimally invasive biopsy technologies market industry analysis by BIS Research highlights the market is expected to witness a growth of significant CAGR of 12.82% during the forecast period, 2019-2030. The market generated a market revenue of $924.8 million in 2018.
The market growth is primarily attributed to the growth drivers including increasing increasing global burden of cancer, growing awareness related to early disease diagnosis, and increasing demand for minimally invasive diagnostics. However, there are significant challenges, restraining the market growth. These challenges include stringent regulatory guidelines, the high cost of technologies, and the lack of adequate reimbursement policies.
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Growth Drivers
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• Rising Global Burden of Cancer • Increasing Number of Cross-Industry Collaborations |
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Market Challenges
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• Uncertain Regulatory Requirements • Lack of Favorable Reimbursement Policies • Technical Challenges Associated with the Analysis of Circulating Biomarkers |
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Market Opportunities
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• Business Expansion in Emerging Economies • Integration of Artificial Intelligence (AI) • Rising Number of Initiatives by the Government |
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Growth Factors
- Rising Global Burden of Cancer: With the increasing life-span and exposure to risk factors such as smoking, sun exposure, radiation exposure, chemicals, and other substances, the number of new cases of cancer is increasing at alarming rates throughout the globe. The cost of cancer care in countries within the Europe and Asia-Pacific region are increasing at unprecedented rates. Owing to the rising cancer expenditures in different countries, healthcare providers across the world are promoting the use of innovative molecular diagnostics for the early detection as well as effective management of cancer. The products under the global minimally invasive biopsy technologies market hold huge potential for the early detection and proper management of cancer and are thus increasingly being employed to reduce the rising worldwide burden associated with cancer.
- Increasing Number of Cross-Industry Collaborations: The manufacturers in the market are entering into a significant number of cross-industry partnerships and collaborations for the development of novel minimally invasive tests or for the expansion of their customer base. Some of the leading manufacturers have also executed collaborations with the research institutions which are specializing in precision medicine and oncology. For instance, in April 2018, Biocept, Inc. collaborated with OHSU Knight Cancer Institute to increase the adoption of liquid biopsy testing and to co-develop additional assay platform capabilities with the institute.
- Growing Prominence of Precision Medicine: Precision medicine is a customized medical model which involves the tailoring of medical treatment, decisions, practices, and interventions to the individual characteristics of each patient. The minimally invasive biopsy technologies such as liquid biopsy hold immense potential for informing various advances in the field of precision medicine. Since liquid biopsy involves the isolation and analysis of cancer biomarkers such as circulating tumor cells (CTCs), circulating tumor DNA (ctDNA), cell free- DNA (cfDNA), and extracellular vesicles (EVs) from the body fluids (blood, cerebrospinal fluid, saliva, and urine), it is capable of providing clinically-actionable information for driving precision medicine.
Report Description
Market Report Coverage - Global Minimally Invasive Biopsy Technologies Market
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Base Year
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2018 |
Market Size by 2018
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$924.8 million |
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Forecast Period
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2019-2030 |
Value Estimation by 2030
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CAGR During Forecast Period
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12.82% |
Number of Tables
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Market Segmentation
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• Liquid Biopsy by Product - Tests, Kits And Consumables, And Instruments • Liquid Biopsy by Circulating Biomarker - Circulating Tumor DNA (ctDNA), Circulating Tumor Cells (CTCs), Cell-Free DNA (cfDNA), and Extracellular Vesicles and Others • Liquid Biopsy by Clinical Application - Treatment Monitoring, Prognosis and Recurrence Monitoring, Treatment Selection, and Diagnosis and Screening • Liquid Biopsy by Therapeutic Application - Lung Cancer, Breast Cancer, Prostate Cancer, Colorectal Cancer, Blood Cancer, Other Types of Cancer, and Non-Oncology Applications
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Regional Segmentation
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• North America – U.S. and Canada • Europe – Germany, France, U.K., Italy, Spain, and Rest-of-Europe • Asia-Pacific – China, Japan, India, Australia, South Korea, Singapore, and Rest-of-Asia-Pacific • Latin America and Middle East – Brazil, Mexico, Saudi Arabia, and Rest-of-Latin America and the Middle East |
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Key Companies Profiled
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The key manufacturers who have been contributing significantly to the global minimally invasive biopsy technologies market include Abcodia Ltd., Adaptive Biotechnologies, Biocept, Inc., Caliber Imaging & Diagnostics, Chronix Biomedical, DermTech, F. Hoffmann-La Roche Ltd, Guardant Health, Inc., Mauna Kea Technologies, Myriad Genetics, NeoGenomics Laboratories, Inc., Owlstone Medical Ltd, QIAGEN, Thermo Fisher Scientific, and Veracyte, Inc., among others. |
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Market Segmentation
Market Outlook by Technology
Based on the type of minimally invasive biopsy technology, the global minimally invasive biopsy technologies market has been segmented into liquid biopsy, optical biopsy, and other technologies (brush biopsy, fine needle aspiration, pigmented lesion assays, and breath biopsy). While liquid biopsy has already made its entry in the market since the past few years, optical biopsy and other technologies are expected to evolve by the coming decade.
Liquid biopsy is the leading contributor to the global minimally invasive biopsy technologies market. This can primarily be attributed to the worldwide commercial availability of a large number of liquid biopsy tests, kits, and instruments. Moreover, the segment is composed of a significant number of established as well as emerging players, focused at continuous innovation in the field of liquid biopsy owing to which the technology is expected to witness an accelerating growth during the forecast period.
On the other hand, optical biopsy and other technologies account for a lesser share in the market since these technologies are still evolving. Moreover, attributed to the anticipated launch of innovative products, these segments are expected to grow at moderate pace during the forecast period.
By Region
The potential of the global minimally invasive imaging market with respect to different regions, namely, North America, Europe, Asia-Pacific, Latin America and the Middle East, and Rest-of-the-World, has been described in this chapter.
The chapter also comprises regional as well as country-level analysis of the different technologies in the global minimally invasive biopsy technologies market, along with the key growth drivers, restraints and challenges, and opportunities.
Further, the chapter analyzes the ongoing trends in the industry in major regions by probing into the past and the present government regulations and the various macro- and micro-economic factors.
In 2018, the region of North America dominated the entire market with a market share of 60.42% and is expected to dominate in future as well among all other regions. However, Europe is expected to witness the maximum growth during the forecast period.
Global Minimally Invasive Biopsy Technologies Market
Focus on Liquid Biopsy, Optical Biopsy, and Brush Biopsy, Fine Needle Aspiration, Pigmented Lesion Assays, and Breath Biopsy, Regulatory Scenario, Therapeutic Application, Competitive Landscape,18 Countries’ Data - Analysis and Forecast, 2019-2030
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