PUBLISHER: The Business Research Company | PRODUCT CODE: 1657251
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657251
Liquid biopsy for cancer diagnostics refers to a minimally invasive technique that enables the detection and monitoring of cancer through the analysis of biomarkers present in body fluids such as blood, urine, or saliva. This diagnostic approach is increasingly transforming cancer care by offering a less invasive alternative to traditional tissue biopsies, which often require surgical procedures.
The liquid biopsy for cancer diagnostics market consists of sales, by entities (organizations, sole traders and partnerships) of liquid biopsy for cancer diagnostics products and services that are utilized by healthcare professionals for early cancer detection, tracking disease progression, monitoring treatment efficacy and detecting recurrence. These diagnostic tools are especially advantageous for cases where tissue biopsy is challenging or impossible, such as in advanced-stage cancers or when monitoring for residual disease.
The global liquid biopsy for cancer diagnostics market was valued at $4,446.47 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 15.00%.
Government Initiatives For Research And Development In Healthcare
Government initiatives for research and development in healthcare supported the growth of the liquid biopsy for cancer diagnostics market during the historic period. Government initiatives refer to specific actions, programs, policies, or projects undertaken by government authorities at various levels (local, regional, national, or international) to address specific issues, achieve certain goals, or create positive changes in society. Government initiatives for research and development provide critical support for advancing liquid biopsy for cancer diagnostics by fostering innovation, collaboration, regulatory oversight, public awareness, access to healthcare services and data sharing. For instance, in November 2023, the UK and France announced a partnership to tackle significant challenges in cancer research. This collaboration between France's Institut National Du Cancer (INCa), a French national cancer institute and Cancer Research UK, a leading charity that funds research into all types of cancer in the UK, is dedicated to funding leading experts to address the most complex cancer cases. Together, they will contribute £8.6 million ($10.8 million) to support the global Cancer Grand Challenges initiative and advance world-class cancer research efforts. Therefore, government initiatives for research and development in healthcare supported the growth of the liquid biopsy for cancer diagnostics market.
High-Precision Liquid Biopsy For Identifying Cancer Biomarkers
Major companies operating in the liquid biopsy for cancer diagnostics market are focusing on developing high-precision liquid biopsy for identifying cancer biomarkers. High-precision liquid biopsy refers to advanced techniques used to analyze circulating biomarkers in bodily fluids, primarily blood, to detect and monitor cancer with a high degree of accuracy. For instance, in September 2024, Strand Life Sciences, an India-based genomics and bioinformatics software and services provider, launched the somatic advantage 74 Liquid Biopsy (SA74 LB) test. This high-precision liquid biopsy test detects circulating tumor deoxyribonucleic acid (ctDNA) in blood samples from cancer patients, analyzing 74 clinically significant genes to offer valuable insights for treatment decisions. The SA74 LB test is designed to be minimally invasive, requiring only a blood sample, thus providing a more convenient alternative to traditional tissue biopsies. Utilizing Unique Molecular Identifiers (UMIs) ensures high-accuracy detection of genetic variants, enabling clinicians to identify potential biomarkers and optimize treatment strategies effectively.
The global liquid biopsy for cancer diagnostics market is fairly fragmented, with a large number of small players in the market. The top ten competitors in the market made up 24.44% of the total market in 2023.
Liquid Biopsy For Cancer Diagnostics Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global liquid biopsy for cancer diagnostics market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for liquid biopsy for cancer diagnostics? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The liquid biopsy for cancer diagnostics market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider liquid biopsy for cancer diagnostics market; and compares it with other markets.