Global Lung Cancer Liquid Biopsy Market: Snapshot

Liquid biopsy is a non-invasive substitute to surgical biopsies for the detection of molecular biomarkers. Liquid biopsy forms an integral part of precision medicine and has enormous diagnostic and treatment implications for oncology that can bring radical changes in clinical practice. It enables physicians to detect the development of a disease or a tumor examining a simple blood sample. The circulation of cancer cells or traces of RNA or DNA of cancer cells in the blood help to understand the line of treatment which is most likely to work for a patient. Not only this, liquid biopsies help augment capabilities to understand metastatic disease development.

Liquid biopsy is performed to detect cancer at an early stage. It is also used to plan a line of treatment for cancer, to find the efficacy of a line of treatment, and also to detect if cancer has come back. Liquid biopsy enables doctors to examine multiple samples of blood over a period of time, which helps to understand the molecular changes taking place in a tumor.

One of the key drivers of lung cancer liquid biopsy market is increasing incidence of lung cancer. Lung cancer accounts for maximum cancer deaths across the world. The major factors responsible for the increasing prevalence of lung cancer are smoking, passive smoking, air pollution, and abnormalities in genes.

The competitive landscape of the lung cancer liquid biopsy market features the presence of some top-notch companies. However, the market is likely to witness the entry of new companies. Key market players are focused on strengthening their product offerings and geographic presence by means of mergers and acquisitions and strategic alliances.

Liquid biopsy is a test performed on the blood sample to diagnose the cancer cells extracted from a tumor. Liquid biopsy is used as a diagnostic test to detect early-stage cancer. It is also employed for treatment planning or to see how well the treatment is benefitting the patient. It can also be used to check recurrence of cancer. The test also helps doctors understand the pattern of molecular changes in a tumor, as it allows to take multiple samples of the blood over time.

The incidence of lung cancer has considerably increased over the years, primarily due to smoking.  Lung cancer is the leading cause of deaths caused by cancer worldwide. The two major types of lung cancer are small cell lung cancer and non-small cell lung cancer. Visibility under microscope determines the type of lung cancer. Non-small cell lung cancer is more common than small cell lung cancer. According to the National Cancer Institute, lung cancer is the leading cause of death in the U.S. Lung cancer is the second most commonly diagnosed cancer and remains the leading cause of cancer deaths worldwide, with an estimated 1.8 million new cases in 2012. Currently, the 5-year overall survival rate for lung cancer is 17%–22%, although survival differs with the stage of diagnosis. Liquid biopsy holds a great potential in lung cancer diagnostics. However, liquid biopsy faces numerous challenges while being adopted in the clinical practices such as optimizing and standardizing sample gathering, implementing uniform analytical procedures, identifying the circulating analytes that are most likely to yield useful information, and performing sufficiently large-sized multi-center clinical trials required for validating specific analysis protocols.

Physicians are able to determine the treatment pattern for patients with the help of results obtained through liquid biopsy. These advantages are augmenting the focus of vendors on providing a personalized treatment plan to patients with lung cancer. Personalized medicine guarantees targeted and actionable medication. The application of liquid biopsy for personalized medicine is expected to be one of the key factors to have a positive impact on the lung cancer liquid biopsy market during the forecast period. However, lung cancer misdiagnosis, inadequate tumor sampling, and delayed diagnoses are also common due to limitations of the tissue biopsy.

Based on biomarker type, the global lung cancer liquid biopsy market can be divided into CTC (circulating tumor cells), ctDNA (circulating tumor DNA), and exosomes & RNA. In terms of application, the market can be segmented into small cell lung cancer and non-small cell lung cancer. Based on end-user, the global lung cancer liquid biopsy market can be classified into diagnostic & imaging centers, hospitals, academics & research centers, and others. Increase in the prevalence and incidence of lung cancer worldwide and rise in awareness about the disease are major factors fueling the global lung cancer liquid biopsy market. However, technological advancements in imaging such as computed tomography (CT) and magnetic resonance imaging (MRI) are likely to restrain the global lung cancer liquid biopsy market during the forecast period.

The global lung cancer liquid biopsy market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is projected to register a high CAGR during the forecast period, due to large patient pool in the region. Growing awareness among patients as well as health care professionals has led to increase in the number of diagnosed cases of lung cancer in Asia, especially China and India. North America is projected to dominate the global lung cancer liquid biopsy market in the near future, due to factors such as rise in the number of reported lung cancer cases and significant investments in R&D of effective treatment alternatives in the region.

Key players operating in the global lung cancer liquid biopsy market are Biocept, Exosome Diagnostics, F. Hoffmann-La Roche, QIAGEN, Agena Bioscience, AccuraGen, BARD1, Bio-Rad Laboratories, Biodesix, Cancer Genetics, Circulogene, CellMax Life, CLEARBRIDGE BIOMEDICS, and Cynvenio Biosystems.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Lung Cancer Liquid Biopsy Market

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