USD 8.7 billion
Report ID: SQMIG35J2060 | Region: Global | Published Date: May, 2023 | Pages: 157 | Tables: 61 | Figures: 75
Global Liquid Biopsy Market size was valued at USD 8.7 billion in 2021 and is poised to grow from USD 9.4 billion in 2022 to USD 20.10 billion by 2030, growing at a CAGR of 13.7% during the forecast period (2023-2030
The increase in prevalence of cancer and surge in demand for minimal invasive diagnostic tests, are the key factors for the growth of the market. The most common form of lung cancer is non-small cell lung cancer in the US. It was analysed that around 235,760 people will be diagnosed with non-small cell lung cancer in 2021. There is an increase in demand for liquid biopsy tests in order to diagnose and eradicate cancer among the population. In addition, the strategy adopted by companies to offer easy and safe in-home access further drives the growth of the market. For instance, in November 2020, NeoGenomics, Inc, a information service providing company, announced the launch of NeoLAB and InvisionFirst. It is a mobile phlebotomy service for liquid biopsy tests. The company offers its services through Metro Health Staffing LLC, and ExamOne, in order to ensure that tests are conducted efficiently. The liquid biopsy aims to offer an efficient alternative to traditional screening, which assists in preventing the disease and early cancer detection. They are very sensitive in nature. Based on the result of the blood test, it provides information for severity of disease and treatment plan Thus, increase in research and development activities in pharmaceutical and biotechnology industry, and rise funding by the government for conducting various research activities stimulate the market growth.
Global Market Size
USD 8.7 billion
Reagents and Kits
Reagents and Kits
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The Global Liquid Biopsy market is segmented by type, end-user, and region. Based on type, the market can be segmented into reagents and kits, and instruments. Based on end-user, the market is segmented into hospitals and clinics segment, and research centres. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Liquid Biopsy Market Analysis by Type
By type, the market can be segmented into reagents and kits, and instruments. The reagents and kits segment dominated the liquid biopsy market, which is expected to hold the largest market share due to the increasing demand for liquid biopsy tests, especially for cancer diagnosis. The growing prevalence of cancer globally and the need for early detection and personalized treatment options are some of the key factors driving the demand for liquid biopsy reagents and kits.
The fastest-growing segment in the liquid biopsy market is the instruments segment. This is mainly due to the increasing demand for automated and high-throughput liquid biopsy systems that can process a large number of samples in a shorter amount of time. Moreover, the advancements in technology, such as the development of next-generation sequencing (NGS) and digital PCR (dPCR), have enabled the development of more efficient and accurate liquid biopsy instruments.
Liquid Biopsy Market Analysis by End-User
By end-user, the market can be segmented into hospitals and clinics segment, and research centers. The hospitals and clinics segment dominated the liquid biopsy market, which is expected to hold the largest market share due to the increasing adoption of liquid biopsy tests for cancer diagnosis and treatment monitoring. Liquid biopsy tests are gaining popularity in hospitals and clinics due to their non-invasive nature, accuracy, and ability to detect cancer at an early stage. Moreover, the increasing prevalence of cancer and the need for personalized treatment options are some of the key factors driving the demand for liquid biopsy tests in hospitals and clinics.
The fastest-growing segment in the liquid biopsy market is the research centers segment. This is mainly due to the increasing demand for liquid biopsy research and development (R&D) activities, especially for cancer diagnosis and treatment. The growing focus on precision medicine and the need for targeted therapies have led to increased investment in liquid biopsy R&D by biotechnology and pharmaceutical companies. Moreover, academic and government research institutions are also conducting extensive research to explore the potential of liquid biopsy for various diseases.
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North America dominates the global liquid biopsy market, due to increase in prevalence of cancer, advancement in technology and rise in research and development activities in pharmaceutical and biotechnological sectors. In addition, the increasing adoption of various diagnostic technology, and surge in and for early diagnosis boost the growth of the market. According to the American Cancer Society, it was reported that lung cancer is the leading cause of cancer related death in the USA. It was also analyzed that the liquid biopsy test gained popularity for early cancer detection.
The asia pacific region is expected to witness the fastest growth in liquid biopsy market due to surge in awareness among physicians and people regarding cancer, early diagnosis of cancer, and increase in investment in healthcare infrastructure drives the growth of the market. China and Japan are the major contributors to the Asia pacific region. China possesses a high burden of lung cancer. The government of China has also initiated various programs in order to promote early cancer diagnosis and treatment.
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Liquid Biopsy Market Drivers
Increasing prevalence of cancer
Liquid Biopsy Market Restraints
Lack of standardization and regulatory guidelines
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The global liquid biopsy market is highly fragmented, with the presence of several small and large players. These players are investing heavily in R&D activities to develop innovative liquid biopsy products and gain a competitive edge in the market. Additionally, strategic partnerships, collaborations, and acquisitions are common among these players to expand their market reach and strengthen their product portfolios. The market is also witnessing an increasing trend towards automation and integration of liquid biopsy tests with other diagnostic technologies, further intensifying the competition among market players.
Liquid Biopsy Market Top Player’s Company Profiles
Liquid Biopsy Market Recent Developments
The increasing adoption of next-generation sequencing technology is one of the key trends in the global liquid biopsy market. The NGS enables high throughput sequencing of RNA and DNA molecules to allow for the detection of cancer biomarkers from a single sample. This technology is mostly used in liquid biopsy tests, as it aims to provide highly specific and sensitive results for the early diagnosis, and monitoring of cancer. Thus, the surge in demand for NGS liquid biopsy test drive the growth of the market.
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According to our global liquid biopsy market analysis, the market is witnessing significant growth due to the increasing prevalence of cancer worldwide and the growing demand for non-invasive diagnostic techniques. Liquid biopsy is a less invasive and less painful method for cancer diagnosis and treatment monitoring as compared to traditional methods. The market is highly competitive, with several small and large players investing in R&D activities and strategic partnerships to gain a competitive edge. Key players in the market include F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., QIAGEN N.V., Illumina, Inc., Guardant Health, Inc., Biocept, Inc., and others. The market is expected to continue to grow in the coming years, driven by technological advancements and increasing investment in R&D activities.
|Market size value in 2021
|USD 8.7 billion
|Market size value in 2030
|USD 20.10 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
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MARKET DYNAMICS & OUTLOOK
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For the Global Liquid Biopsy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Liquid Biopsy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Liquid Biopsy Market size was valued at USD 8.7 billion in 2021 and is poised to grow from USD 9.4 billion in 2022 to USD 20.10 billion by 2030, growing at a CAGR of 13.7% during the forecast period (2023-2030).
The global liquid biopsy market is highly fragmented, with the presence of several small and large players. These players are investing heavily in R&D activities to develop innovative liquid biopsy products and gain a competitive edge in the market. Additionally, strategic partnerships, collaborations, and acquisitions are common among these players to expand their market reach and strengthen their product portfolios. The market is also witnessing an increasing trend towards automation and integration of liquid biopsy tests with other diagnostic technologies, further intensifying the competition among market players. 'F. Hoffmann-La Roche Ltd (Switzerland)', 'Thermo Fisher Scientific Inc. (US)', 'QIAGEN N.V. (Netherlands)', 'Illumina, Inc. (US)', 'Guardant Health, Inc. (US)', 'Biocept, Inc. (US)', 'Sysmex Corporation (Japan)', 'Menarini Silicon Biosystems (Italy)', 'Natera, Inc. (US)', 'GRAIL, Inc. (US)', 'Biocartis Group NV (Belgium)', 'Personal Genome Diagnostics Inc. (US)', 'Exosome Diagnostics, Inc. (US)', 'Bio-Rad Laboratories, Inc. (US)', 'Genomic Health, Inc. (US)', 'RainDance Technologies, Inc. (US)', 'OncoCyte Corporation (US)', 'Adaptive Biotechnologies Corporation (US)', 'Angle plc (United Kingdom)', 'Epic Sciences, Inc. (US)'
The increasing prevalence of cancer worldwide is the major driver of the global liquid biopsy market. The traditional methods for cancer diagnosis and treatment monitoring are often invasive, time-consuming, and may cause discomfort to patients. Liquid biopsy, on the other hand, is a non-invasive and less painful technique that can detect biomarkers in the blood or other bodily fluids, making it an attractive alternative for cancer diagnosis and monitoring. Moreover, liquid biopsy allows for early detection of cancer, which is crucial for successful treatment outcomes. As a result, the demand for liquid biopsy tests is expected to continue to rise in the coming years.
One of the key trends in the global liquid biopsy market is the increasing adoption of next-generation sequencing (NGS) technology. NGS enables high-throughput sequencing of DNA and RNA molecules, which allows for the detection of a wide range of cancer biomarkers from a single sample. This technology is gaining popularity in liquid biopsy tests as it provides highly sensitive and specific results, which can aid in early cancer detection and monitoring of treatment response. The increasing demand for NGS-based liquid biopsy tests is expected to drive market growth in the coming years.
North America dominated the global market. This can be attributed to the high prevalence of cancer in the region, coupled with the increasing adoption of advanced diagnostic technologies. The US is the major contributor to the North American market. According to the American Cancer Society, lung cancer is the leading cause of cancer-related deaths in the US, and liquid biopsy tests are gaining popularity for early cancer detection.
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