What is the global market size of Liquid Biopsy Market?

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).

Who are the key vendors in the Global Liquid Biopsy Market?

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)'.

What is the key driver of Global Liquid Biopsy Market?

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.

What is the key market trend for Global Liquid Biopsy Market?

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.

Which region accounted for the largest share in Global Liquid Biopsy Market?

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.

Liquid Biopsy Market Size, Share, Growth Analysis, By Product & Services(Assay Kits, Instruments, and Services), By Circulating Biomarker(Circulating Tumor Cells, Circulating Tumor DNA, Circulating Nucleic Acids Exosome/Microvesicle, Cell-free DNA), By Clinical Application(Early Cancer Screening, Therapy Selection, Treatment Monitoring, and Recurrence Monitoring), By Technology(Multi-Gene Parallel Analysis using NGS, and Single-Gene Analysis using PCR), By Application(Cancer Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer), By Sample Type(Blood Samples, Urine Sample, Saliva Sample, and Others), By End User(Hospitals & Clinics, Diagnostic Centers, Reference Laboratories, Academic & Research Centers), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35J2060 | Region: Global | Published Date: August, 2024
Pages: 219 | Tables: 61 | Figures: 75

Liquid Biopsy Market Regional Insights

North America dominated the market with a 50.76% revenue percentage in 2023, driven with the aid of heavy funding and the entry of numerous biotechnology corporations carrying out advanced trials. Despite the outbreak of most cancers, led by the rapid technological improvement and rising government policies. Various companies, including the American Society of Clinical Oncology (ASCO) are working to support the use of liquid biopsies, which are expected to boost revenue in this market over the forecast period.

Asia Pacific in the market is expected to grow at the fastest pace at a CAGR of 13.09% during the forecast period, owing to various factors, such as improving healthcare reforms. According to Global Cancer Statistics, in 2022, there will be 10.5 million new cases of cancer in Asia. Government initiatives such as cervical, & lung cancer screening and improved collaboration between government, research institutes, & industry to distribute & provide these tests for cancer research have increased in the last few years.

Liquid Biopsy Market Report Snapshots

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Global Liquid Biopsy Market size 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 is quite fragmented, with the presence of numerous small and massive players. One notable example is the collaboration among the Guardant Health and AstraZeneca. The partnership to be introduced in 2020, objectives to combine Guardant Health's liquid analytics generation with AstraZeneca's oncology department to increase most cancers treatment and diagnosis. Invincible, actual-time inspection capable, as Essential for knowledgeable scientific choice making. 'F. Hoffmann-La Roche Ltd (Switzerland) ', 'Thermo Fisher Scientific Inc. (US) ', 'Illumina, Inc. (US) ', 'Guardant Health, Inc. (US) ', 'Biocept, Inc. (US) ', 'Sysmex Corporation (Japan) ', 'Menarini Silicon Biosystems (Italy) ', 'Natera, Inc. (US) ', 'Biocartis Group NV (Belgium) ', 'Personal Genome Diagnostics Inc. (US) ', 'Bio-Rad Laboratories, Inc. (US) ', 'OncoCyte Corporation (US) ', 'Adaptive Biotechnologies Corporation (US) ', 'Angle plc (United Kingdom) ', 'Epic Sciences, Inc. (US) ', 'NEOGENOMICS LABORATORIES (US) ', 'CellMax Life (US) ', 'MENARINI-SILICON BIOSYSTEMS (Italy) ', 'LUNGLIFE AI, INC. (US) ', 'VORTEX BIOSCIENCES (US)'

Next-generation sequencing (NGS) and polymer chain reaction (PCR) technologies have greatly improved the sensitivity and specificity of liquid screening tests, and increased adoption in clinical settings.

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Liquid Biopsy Market Regional Insights

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What is the global market size of Liquid Biopsy Market?

Who are the key vendors in the Liquid Biopsy Market?

What is the key driver of Liquid Biopsy Market?

What is the key market trend for Liquid Biopsy Market?

Which region accounted for the largest share in Liquid Biopsy Market?

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