Cancer is one of the leading causes of death worldwide, with millions of new cases being diagnosed each year. Early detection and treatment are crucial for better outcomes, but traditional diagnostic methods can be invasive, costly, and time-consuming. Liquid biopsy is a relatively new diagnostic approach that offers a minimally invasive and more comprehensive way to detect cancer.

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A wide variety of enhanced liquid biopsy diagnostics tests indicated for a wide range of cancer are rapidly being launched by the pharmaceutical giants. Growing incidence of cancer with the increased product launches have led to increased adoption of liquid biopsy test globally. For instance, in July 2022, BillionToOne announced the launch of its first oncology liquid biopsy products, Northstar Select and Northstar Response. The products are currently available for research use with select academic cancer centers.

Further, the introduction of artificial intelligence is also having a positive impact on the adoption of liquid biopsy in cancer diagnosis and many companies are receiving funds for Implementing AI in liquid biopsy-based cancer diagnosis. For instance, in February 2023, Dxcover Limited raised USD 10.37 million in Series A and grant financing. The funding will support the development of the Dxcover Liquid Biopsy platform for detecting early-stage cancers, including brain and colorectal cancers. Dxcover’s  novel liquid biopsy platform uses infrared spectroscopy to analyze patient blood samples and artificial intelligence algorithms to detect the presence or absence of disease.

Furthermore, the surge in the prevalence of lifestyle disorders is also a major factor contributing to the increase in the prevalence of cancer. . For instance, as per the data provided by the Global Obesity Observatory (2021), Mexico presents a national risk of obesity development on a scale of 10 to 8. This represents that the majority of the population in Mexico either falls in the bracket of the obese population or is highly susceptible to being obese in the coming years. Many studies have established that excess body fat increases the risk for several cancers, including colorectal, postmenopausal breast, uterine, esophageal, kidney, and pancreatic cancers. Additionally, the increase in aging population in the country is also said to contribute to cancer incidence.

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Counties such as China and Japan in the Asia-Pacific region are also rapidly investing in liquid biopsy in cancer diagnostic research. Adding to this, several companies have also adopted strategic alliances to launch liquid biopsy tests in Asia Pacific region. For example, in February 2020, Foundation Medicine, Inc. and Chugai Pharmaceutical, Ltd. have entered into an agreement with the National Cancer Center (NCC) for the use of FoundationOne®Liquid, Foundation Medicine’s laboratory-developed liquid biopsy test, in the third stage of SCRUM-Japan.

Figure 1: Worldwide Cancer Incidence’2020

Top Investors of the Liquid Biopsy In Cancer Diagnostic Products and Services

Over the last few years, liquid biopsy in cancer diagnostic has witnessed a string of institutional investors and corporations, who are looking at the growing demand for liquid biopsy tests and are investing in the industry be it small or large investments. Big companies are acquiring/partnering with smaller companies or start-ups to increase their market share. Some of the prominent mergers and acquisitions/partnerships in the smart home ecosystem include:

• In May 2022, Myriad Genetics announced the expansion of its strategic partnership with Intermountain Precision Genomics, to add a new liquid biopsy therapy selection test to its growing oncology portfolio.
• In October 2022, Lucence announced a new partnership with Omnigen Medical Products Corporation to expand access of Lucence liquid biopsy tests to cancer patients in Turkey.

Major development and new Start-ups

Looking at the increased demand for liquid biopsy in cancer diagnostic over the past few years owing to the increased surge in the incidences of various cancer and the unmet need for early diagnosis of cancer have propelled various local and regional companies to enter with liquid biopsy diagnostic tests to cater to the growing demand, especially in the developed and developing regions. Start-ups require experienced employees, investors, and suppliers, so the local environment counts for a lot. Most of the smart home ecosystem start-ups have evolved in the US (dominant region), China (in the city of Shenzhen), and the UK.

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FIG. 2          Number of Start-Ups in Liquid Biopsy in Cancer Diagnostic Technology, By Region

Source: UnivDatos Market Insights

Conclusion:

Liquid biopsy offers a promising new approach to a cancer diagnosis that is minimally invasive, comprehensive, and real-time. While there are limitations to this approach, such as sensitivity and specificity, the advantages outweigh the limitations, and the liquid biopsy market is expected to grow in the coming years. As the market continues to expand, standardization and cost reduction will be critical factors in ensuring that liquid biopsy becomes a standard diagnostic tool in cancer treatment. Developing countries such as India, China, and other Middle East countries have witnessed increased adoption of smart home technologies over the past few years, but at a slow pace, however, the demand for liquid biopsy in cancer diagnostic is expected to increase by 2022, owing to the surge in the prevalence of cancer and rising investment by pharmaceutical giants. Contact Universal Data Solutions, a rapidly growing dynamic market research firm led by a core of dedicated professionals for further information. According to the Universal Data Solutions analysis, the development of advanced technologies would massively transform the global scenario of liquid biopsy in cancer diagnostic and as per their “Liquid Biopsy In Cancer Diagnostic Market” report, the global market was valued at USD 7.5 billion in 2021, growing at a CAGR of 15.0% during the forecast period from 2022 - 2028 to reach USD XX billion by 2028.