USD 8.7 billion
Report ID: SQMIG35J2060 | Region: Global | Published Date: February, 2024 | Pages: 219 | 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
Largest Segment
Reagents and Kits
Fastest Growth
Reagents and Kits
Growth Rate
13.7% CAGR
To get more reports on the above market click here to Buy The Report
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.
To get detailed analysis on other segments, Request For Sample Report
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.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Liquid Biopsy Market Drivers
Increasing prevalence of cancer
Liquid Biopsy Market Restraints
Lack of standardization and regulatory guidelines
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
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.
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 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.
Report Metric | Details |
---|---|
Market size value in 2021 | USD 8.7 billion |
Market size value in 2030 | USD 20.10 billion |
Growth Rate | 13.7% |
Base year | 2021 |
Forecast period | 2023-2030 |
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:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Liquid Biopsy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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.
Our industry expert will work with you to provide you with customized data in a short amount of time.
SPEAK TO AN ANALYSTGet lifetime access to our reports
Basic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOWWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG35J2060