Executive Summary
The US Liquid biopsy market has witnessed yearly growth rate between 3%-6% in last five years and despite of disturbances in the year 2020 the market witnessed a positive growth, owing to the increasing number of cancer patients and liquid biopsy being on introduction stage. The market is expanding as a result of the rising incidence of cancer and the preference for minimally invasive medical procedures. In addition, the market for liquid biopsies in the US is anticipated to develop due to rapid R&D, investments in the field and also rising awareness which is considered to be low as of now. Additionally, it is projected that the spread of infectious diseases like Hepatitis B and C and rising public awareness of health issues would fuel market expansion.
US Economic Performance
In the first quarter of 2021, the US economy expanded by 6.4%, driven by increases in government spending of 5.7% and business investment of 11.7%.
The COVID-19 pandemic has brought to an end the longest economic expansion in American history, which lasted over 11 years. Since the Great Depression, this has dealt the economy its heaviest hit. A nearly 11-year economic boom came to an end in the first quarter when the economy shrank by 5%. In the second quarter, there was even another drop of 31.4%. Initial estimates indicated a decline of 32.9% in August, which were then corrected to 31.7% in September.
According to the World Health Organization, cancer is one of the leading causes of patient death globally. Liquid biopsy is a popular cancer treatment option since it is more effective than more traditional cancer diagnostic techniques. Liquid biopsy has various advantages over traditional therapeutic modalities, such as enhanced patient comfort, acquired drug resistance, lower cost, therapy monitoring, early prognosis, and tumor heterogeneity discovery.
Currently, circulating tumor DNA (ctDNA), circulating tumor cells (CTC), and exosomes are collected using patient blood, saliva, and urine samples. The non-invasiveness of liquid biopsy is the main element influencing its great demand among medical professionals. It is less invasive, more convenient, and quicker for patients than other treatments because just 5 milliliters of blood are required.
Future Growth Opportunities
The US Liquid Biopsy Market is expected to reach more than USD 900 million by 2028, registering a CAGR growth of 14% from 2023-2028. Increasing healthcare expenditure and adoption of liquid biopsy test to treat rare cancers will be some of the major factors driving the market revenue growth in coming years. Liquid biopsy is a non-invasive technique for identifying tumor markers that can be used to assess treatment response or as an alternative for patients whose tissue cannot be biopsied. It is less expensive than tumor tissue biopsy and provides a precise picture of a tumor's genetic environment. Circulation Tumor Cells (CTCs) account for the major market share in US Liquid Biopsy market and expected to continue to lead in near future.
Types of Liquid Biopsy
By Biomarkers Type: The United States Liquid Biopsy Market by Type is divided into, Cell-Free DNA (cfDNA) , Circulating Tumor DNA (ctDNA), Extracellular Vesicles (Evs), and Other Biomarkers. Circulation Tumor Cells (CTCs) account for the major market share in US Liquid Biopsy Market in 2021. The non-invasiveness of liquid biopsy is the main element influencing its great demand among medical professionals.
By Product: By Product Service the United States Liquid Biopsy Market is divided into Kits & Consumables, Instruments and Services. Due to several platform and instrument approvals and ongoing research and development projects, the Kits & Consumables sector held the majority of the market share in 2021.
By Therapeutic Application: By Therapeutic Application, the US Liquid Biopsy market is divided into Oncology and Non Cancer Biopsy Market. In terms of revenue share in 2021, oncology held the largest market share. For the detection and treatment of different types of cancer, liquid biopsy is being used more and more.
By Cancer Type: The United States Liquid Biopsy Market by Cancer type is majorly segmented into Lung Cancer, Breast Cancer, Colorectal Cancer and Prostate Cancer. Cancer is the second most common disease among the US population. With more fatalities than colorectal, breast, and prostate cancers combined, lung cancer and breast cancer are one of the main reasons for cancer-related deaths in the US and Breast cancer account for the major market share of revenue in US Liquid Biopsy Market.
By Cities: By Cities, the US Liquid Biopsy market is segmented by major cities including, California, Texas, Florida, New York, Georgia, Washington, New Jersey and Other cities. California accounts for the major market share due to increasing number of cancer patients and increasing adoption of novel liquid biopsy tests across the cities.
Scope of the Study
The following synopsis is based on the report titled " United States Liquid Biopsy Market Revenue and Forecast to 2028" published by Makreo Research and Consulting.
The report delves deeply into various parameters such as Market size, segmentation value chain analysis, and industry cause and effect analysis. The study includes macro-economic factors that provides an understanding of factors performance, and an analysis of future opportunities that may help market players to capitalise on untapped business potential in the specific geography. It is important to understand virous types of cancer present before proceeding with liquid biopsy market thus market section describes prevalence of cancer and by type of cancer.
US Liquid Biopsy Market Segmentation
US Liquid Biopsy Market
US Liquid Biopsy Companies Mentioned
The report helps reader to gain information on following areas:
Table of Content
Report Synopsis
Industry Overview
1. Research Methodology
1.1 Objective of the Study
1.2 Research Process
1.3 Data Collection Methods
2. US Liquid Biopsy Market - EPTD Analysis (Economic, Political, Technological & Demographic Overview)
2.1 EPTD Analysis – The United States
2.2 EPTD Analysis – Economic Overview
2.3 EPTD Analysis – Political Overview
2.4 EPTD Analysis – Technological Overview
2.5 EPTD Analysis – Demographic Overview
3. The United States Liquid Biopsy Market - Market Dynamics
3.1 Recent Trends and Developments
3.2 Recent Investments in Liquid Biopsy Market
4. The United States Liquid Biopsy Market - Past and Present Performance
4.1 The US Liquid Biopsy Industry Structure
4.2 The US Liquid Biopsy Market – An Overview
4.3 The US Liquid Biopsy Market Snapshot
4.4 Liquid Biopsy Market – Past and Present Market Analysis
5. The United States Liquid Biopsy Market Segmentation
5.1 The US Liquid Biopsy Market Segmentation : By Biomarkers Type (cfDNA and ctDNA)
5.2 The US Liquid Biopsy Market Segmentation : By Product (Kits & Consumables, Instruments, and Services)
5.3 The US Liquid Biopsy Market Segmentation : By Therapeutic Application (Oncology and Non-Cancer Biopsy)
5.4 The US Liquid Biopsy Market Segmentation : By Cancer Type (Lung, Breast, Colorectal, and Prostate Cancer)
5.5 New Cancer Cases in the US
5.6 The US Liquid Biopsy Market Segmentation : By Cities
6. The United States Liquid Biopsy Market - Future Outlook
6.1 The US Liquid Biopsy Market – Future Outlook
6.2 The US Liquid Biopsy Market Segmentations Future Outlook
6.3 The US Liquid Biopsy Market Segmentation Future Outlook: By Cities
6.4 Factors Driving Future Growth of the US Liquid Biopsy Market
7. The United States Liquid Biopsy Market – Competitive Landscape
7.1 Venture Capital Investments
7.2 Latest Mergers and Acquisitions
8. The United States Liquid Biopsy Market - Company Profile
8.1 Company Profile: QIAGEN
8.2 Company Profile: Myriad Genetics Inc
8.3 Company Profile: Biocept, Inc
8.4 Company Profile: Sysmex Corp.
8.5 Company Profile: Thermo Fisher Scientific Inc
8.6 Company Profile- Other Players
Limitations of the Study
List of Figures & Tables
United States GDP Growth, 2015-2021 (%)
United States Consumer Price Index for all Urban Consumers, June 2022 (%)
Export and Import of Goods and Services, 2015-2021
Political Framework Parameters of Developed Economies
Political Framework Parameters of Emerging Economies
Number of New Cancer Cases in US, 2022
United States Unemployment, total (% total labour force), 2015-2021 (%)
The Liquid Biopsies Available in the US
Current Healthcare Expenditure (% of GDP), 2015-2019
The US Liquid Biopsy Market Revenue, 2018-2021
US Liquid Biopsy Market Segmentation by Biomarker Type, 2021 (%)
US Liquid Biopsy Market Segmentation by Product, 2021 (%)
US Liquid Biopsy Market Segmentation by Therapeutic Application, 2021 (%)
New Cancer Cases in US Male vs Female, 2022 Estimates
New Cancer Cases by Major Cities in United States, 2022
The US Liquid Biopsy Market Segmentation by Cities, 2021 (%)
The US Liquid Biopsy Market Revenue Forecast, 2022F-2028F
US Liquid Biopsy Market Forecast by Biomarker Type, 2028 (%)
US Liquid Biopsy Market Forecast by Product Type, 2028 (%)
US Liquid Biopsy Market Forecast by Cities, 2028 (%)
Venture Capital Investments in Liquid Biopsy Companies (2021 & 2022)
Latest Molecular Diagnostic M&A (2021-2022)
Selected Molecular Diagnostics Products
Financial Highlights of Q3 2022 vs 9M 2022
Table Summarizes Sequential And Year-over-year Quarterly Volume Changes In The Company's Core Product Categories
Myriad Genetics Inc Consolidated Revenue 30th Sep 2021 vs 30th Sep 2022
Biocept, Inc Consolidated Revenue 30th June 2021 vs 30th June 2022
Sysmex Corp Consolidated Net Sales 2021-2022
Sysmex Corp Consolidated Net Sales, by Region 2021-2022
Sysmex Corp Consolidated Net Sales by Field, 2022 (%)
Thermo Fisher Scientific Consolidated Revenue 1st Oct 2021 vs 1st Oct 2022