USD 9.4 billion
Liquid Biopsy Market Size, Share, Growth Analysis, By Product & Services(Assay Kits, Instruments, Services), Circulating Biomarker(CTCs, ctDNA, cfDNA, Extracellular Vesicles), Clinical Application, Technology (NGS, PCR), Application, Sample Type, End User, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG35J2060 |
Region:
Global |
Published Date: June, 2024
Pages:
219
|Tables:
61
|Figures:
75
Liquid Biopsy Market Insights
Global Liquid Biopsy Market was valued at around USD 9.28 billion in 2022 and is expected to rise from USD 10.32 billion in 2023 to reach a value of USD 24.14 billion by 2031, at a CAGR of 11.21% during the forecast period (2024–2031).
The liquid biopsy market has gained tremendous traction, owing to the rise in cancer incidence worldwide and the demand for quicker, less invasive diagnostic options. In the United States, over the recent past, the burden of non-small-cell lung cancer has emerged as the highest striking burden subtype of lung cancer in the country. Statistics indicate that 1.28 million new cases of non-small-cell lung cancer were diagnosed in the US between 2010 and 2017. This number is enormous, suggesting that this population needs new and advanced diagnostic equipment such as liquid biopsy tests, which will be capable of scanning for cancer and providing treatment plans in line with targeted treatments.
Furthermore, the rising adoption of liquid biopsy methods is indicative of a broader trend towards personalized medicine and precision oncology. These innovative diagnostic techniques offer advantages over conventional tissue biopsies by providing real-time monitoring of disease progression and treatment response, thereby facilitating timely intervention strategies. As the healthcare landscape continues to prioritize early detection and tailored treatment modalities, the liquid biopsy market is poised for sustained growth, driven by advancements in technology, expanding research efforts, and increasing awareness among healthcare providers and patients alike.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Reagents and Kits
Fastest Growth
Reagents and Kits
Growth Rate
13.7% CAGR
Liquid Biopsy Market ($ Bn)
Country Share for North America Region (%)
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Liquid Biopsy Market Segmental Analysis
The liquid biopsy market is segmented by Product & Services, Circulating Biomarker, Clinical Application, Technology, Application, Sample Type, End-User and Region. Based on Product & Services, the market is segmented into Assay Kits, Instruments, and services. Based on Circulating Biomarker, the market is segmented into Circulating Tumor Cells, Circulating Tumor DNA, Cell-free DNA, Extracellular Vesicles, and Others. Bases on Clinical Applications, the market is segmented into Early Cancer Screening, Therapy Selection, Treatment Monitoring, and Recurrence Monitoring. Based on Technology, the market is segmented into Multi-Gene Parallel Analysis using NGS, and Single-Gene Analysis using PCR. Based on Application, the market is segmented into Cancer Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, and Others), Non-Cancer Application (Non-Invasive Prenatal Testing, Organ Transplantation, and Infectious Disease Testing). Based on Sample Type, the market is segmented into Blood Samples, Urine Sample, Saliva Sample, and Others. Based on End-User the market is segmented into Hospitals & Clinics, Diagnostic Centers, Reference Laboratories, Academic & Research Centers, and Others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Products & Services
The dominating segment in the liquid biopsy market is the assay kits segment, which is expected to hold the largest market share due to the increasing demand for liquid biopsy tests, especially for cancer diagnosis. Also, the factors like convenience, versatility, cost-effectiveness, and continuous technological advancements leads to the highest market share of assay kits. 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.
Analysis by End-User
The dominating segment in the liquid biopsy market is the hospitals and clinics segment, 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.
However, the diagnostic centers segment is expected to grow at the highest rate within the liquid biopsy market. These facilities offer specialized advanced-level diagnostic services among other liquid biopsy tests to the patients. The advantage of these diagnostic centers is their ability to provide shortened waiting and turnaround times, specialized expertise, and state-of-the-art equipment, which is driving more and more customers to turn to this venue for providing them with accurate and timely diagnostic solutions. These diagnostic centers are expected to develop and grow rapidly in the years to come, further establishing them as major players in the liquid biopsy market landscape.
Liquid Biopsy Market, By Product & Services(%)
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Liquid Biopsy Market Regional Insights
North America is the dominant region. 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.
However, the Asia-Pacific region is expected to witness the fastest growth in the liquid biopsy market due to the increasing awareness regarding cancer and its early detection, coupled with the rising investments in healthcare infrastructure, is driving the market growth in this region. Countries like China and Japan are the major contributors to the APAC liquid biopsy market. For instance, China has a high burden of lung cancer, and the government has initiated various programs to promote early cancer detection and treatment.
Liquid Biopsy Market, By Geography
- Largest
- Fastest
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Liquid Biopsy Market Dynamics
Liquid Biopsy Market Drivers
Increasing Prevalence of Cancer
- One of the major drivers for the uptake of liquid biopsy tests is the rising global cancer epidemic. Indeed, about 20 million new cases of cancer alone were found in 2022, a trend continuing to raise demand for better and non-invasive diagnostic methodologies. On this note, liquid biopsies stand as a methodology conferring convenience and the possibility of earlier detection, hence better patient outcomes. Our analysis also projects more than 35 million new cases of cancer in 2050, a strong increase of 77% off the present estimates for 2022. This further underlines the liquid biopsy technologies required to meet demand regarding early cancer detection and treatment.
Advantages Over Traditional Biopsy Methods
- There are many advantages that liquid biopsy techniques hold over traditional biopsies. As aforementioned, they are minimally invasive with minimal patient discomfort, furnishing a more acceptable procedure for patients who are undergoing diagnostic procedures. Liquid biopsies are also very effective in capturing tumor heterogeneity, giving a clear view of cancer evolution to enable personalized treatment strategies, and they also allow real-time monitoring so that health care providers can track disease progress more effectively, allowing timely intervention and positive patient outcomes. Therefore, both patients and healthcare providers prefer recent developments in liquid biopsy approaches, which boosts demand and adoption in clinical practice.
Restraints
Lack of Standardization and Regulatory Guidelines
- Key restraints of the liquid biopsy market are a lack of standardization and regulatory guidelines for liquid biopsy tests. The procedure for gaining regulatory approval for liquid biopsy tests is very cumbersome and time-consuming, hence this delayed launch of a new product in the market. Moreover, high cost of liquid biopsy test and limited reimbursement coverage of these test in certain region may prove as a growth restraint. Counter for these challenges will be the development of standardized guidelines and improved reimbursement coverage of liquid biopsy tests.
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Liquid Biopsy Market Competitive Landscape
The 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
- 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)
Liquid Biopsy Market Recent Developments
-
In November 2023, Illumina launched an advanced liquid biopsy assay to enable comprehensive genomic profiling of solid tumors. The new TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2) is a research assay that enables noninvasive comprehensive genomic profiling (CGP) of circulating tumor DNA (ctDNA) from blood when tissue testing is not available, or to complement tissue-based testing
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In April 2023, QIAGEN N.V. announced the acquisition of Xylyx Bio, a developer of liquid biopsy sample preparation technologies, for $40 million
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In February 2023, Bio-Rad Laboratories, Inc. announced the launch of its ddPCR liquid biopsy test for colorectal cancer diagnosis and treatment monitoring
Liquid Biopsy Key Market Trends
- One of the key trends in the 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.
Liquid Biopsy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, liquid biopsy 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.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 9.28 billion |
| Market size value in 2031 | USD 24.14 billion |
| Growth Rate | 11.21% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Liquid Biopsy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Liquid Biopsy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Liquid Biopsy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Liquid Biopsy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Liquid Biopsy Market Report Snapshots
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