Fast facts:
The market is as bullish as ever on liquid biopsy and the opportunities this technology represents to stakeholders across life sciences, but what’s real and what’s hype?
- R&D advancements and FDA approvals continue to drive market enthusiasm
- Deal activity and investments are high, with 2021 acquisition revenue multiples ranging anywhere from 26x to 154x
- Public investment continues to grow, for example, the UK’s Department of Health and Social Care partnership with Grail to do 165K liquid biopsy tests over the next few years as part of its established population genomics program, Genome UK
- KPMG proprietary Precision Medicine Insights database highlights an increase in anticipated use as Oncologists expect to increase treatment with targeted therapies
- While analysts estimate the global addressable market size to be $70-100B across the diagnostic continuum from screening and diagnosis to treatment selection and ongoing monitoring, current market value (based on revenue generated from liquid biopsy) is likely in the range of $0.7-$2.3B at this time—highlighting that there’s a long way to go before the technology is widely adopted in clinical practice
- Indeed, latest ESMO guidelines published in early-July 2022 highlights liquid biopsy as standard-of-care for genotyping and treatment selection in many advanced cancers, but cautions that “lack of evidence of utility prevents a recommendation to incorporate ctDNA assays for other possible purposes like screening, molecular residual disease assessment, molecular relapse monitoring and early assessment of treatment response”
Key takeaways
While it holds much future promise, the path to unlocking the full market potential of liquid biopsy is not necessarily clear to stakeholders such as pharma and biotech, diagnostics companies, and healthcare providers. We believe that:
Pharma and biotech must invest in use beyond treatment selection
Diagnostics manufacturers and labs must continue to focus on test quality and clinical utility
Healthcare providers must take a more active role in driving adoption