Liquid Biopsy Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the liquid biopsy market was valued at USD 4.1 billion in 2022, and a CAGR of 18.3% is expected during the forecast period. The rising incidence and prevalence of cancer and increasing non-invasive procedures are driving growth in the liquid biopsy market. Increasing awareness among people about chronic disease treatment and increasing demand for disease monitoring are driving significant growth in the market.

In comparison to a traditional biopsy, a liquid biopsy is more convenient and user-friendly. It encompasses various technologies, like circulating tumor DNA analysis and circulating tumor cells. Less invasive testing and early detection of cancer, along with the use of personalized medicine, are driving growth in the market. The increasing incidence of cancer globally is driving market growth. Advancements in technology are driving demand for liquid biopsy.

Impact of Covid-19

The pandemic has highlighted the importance of early disease detection and remote monitoring, leading to increased awareness and adoption of liquid biopsy. The urgent need for new diagnostic tools and treatments has accelerated the research and development efforts in the liquid biopsy field, leading to advancements in technology and the development of new assays. The pandemic has disrupted many clinical trials, including those involving liquid biopsy technologies. Disruptions in global supply chains have affected the availability of equipment, reagents, and other components. Economic uncertainty and budget constraints have shifted the priorities of people towards essential things.

Growth Drivers

The increasing popularity of minimally invasive procedures among people and the increasing number of carcinoma patients worldwide are driving the demand in the liquid biopsy market. Cancer awareness initiatives taken by the government are driving growth in the market significantly. Increasing demand for less invasive alternatives to traditional tissue biopsies, which are quite uncomfortable and carry risks, is making this method more appealing and convenient. It allows for the detection of specific biomarkers associated with individual patients’ diseases, enabling personalized treatment approaches tailored to their unique genetic profile.

With the increasing incidence of cancer globally, there is a growing need for sensitive diagnostic tools for early detection and monitoring, which liquid biopsies do provide. As more clinical evidence accumulates demonstrating the utility of liquid biopsies in guiding treatment decisions and improving patient outcomes, adoption rates are expected to increase among healthcare providers and institutions. Advancements in sequencing technology, microfluidics, and other analytical techniques have improved the accuracy and reliability of liquid biopsy tests, driving market growth. Innovations in sequencing technologies, such as next-generation sequencing and digital PCR, have improved the sensitivity and accuracy of liquid biopsy tests.

The increasing prevalence of cancer globally is boosting the demand for non-invasive diagnostic methods like liquid biopsies for early detection and monitoring of diseases. Liquid biopsies provide real-time information on tumor dynamics and treatment response, aiding clinicians in making informed decisions regarding therapy selection and monitoring disease progression.

Segmentation

By Product and Services

·         Assay Kits

·         Instruments

·         Services

By Application

·         Cancer

·         Lung Cancer

·         Breast Cancer

·         Colorectal Cancer

·         Prostate Cancer

·         Melanoma

·         Other Cancers

·         Non-Cancer applications

·         Non-Invasive Pre-Natal Testing

·         Organ Transplantation

·         Infectious Disease Testing

By Sample Type

·         Blood

·         Other Sample Types

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Liquid Biopsy Market by Application Segmentation

On the basis of application, the liquid biopsy market is segmented into cancer, lung cancer, breast cancer, colorectal cancer, prostate cancer, melanoma, other cancers, non-cancer applications, noninvasive prenatal testing, organ transplantation, and infectious disease testing. The increasing prevalence of cancer is observed, and it is the leading segment in the market. It is one of the many emerging technologies, and due to being less complicated, this market is witnessing significant growth in emerging economies. Different types of cancer are observed among the patients, and there are different treatment methods as well.

It enables healthcare providers to monitor treatment response and disease progression in cancer patients, allowing for timely adjustments in therapy. One of the most promising applications of liquid biopsy is its potential for early cancer detection, facilitating timely intervention, and improving patient outcomes. It helps in detecting minimal residual disease.

Regional Outlook

On the basis of the regions, the liquid biopsy market is segmented into 5 parts: Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. North America boasts a highly developed healthcare infrastructure, including advanced diagnostic facilities and research institutions, which facilitates the adoption and development of liquid biopsy technologies. The region has a history of early adoption of innovative medical technologies, and liquid biopsies are no exception.

This early adoption fosters a competitive market landscape and encourages further innovation. North America is home to a leading biotechnology market due to its large population and high prevalence of cancer types such as lung, breast, and colorectal cancer. This drives demand for non-invasive diagnostic tools like liquid biopsies for early detection and monitoring. Regions generally have more favorable reimbursement policies compared to other parts of the world.

North American companies often engage in strategic partnerships and collaboration with healthcare providers, research institutions, and other stakeholders, which accelerates the development and commercialization of liquid biopsy technology. Regulatory bodies in North America, such as the FDA in the United States of America, and Canada have been relatively supportive of liquid biopsies technologies. Europe, due to its robust healthcare infrastructure and favorable reimbursement policies, is a key market for liquid biopsies.

The Asia-Pacific region, especially the emerging economies like India, China, and Japan, are witnessing significant growth due to rising disposable income, rapidly increasing populations, and increasing investment in healthcare infrastructure, which is driving growth in the market significantly. Increasing cancer patients in India and China are driving the demand for liquid biopsy. Rising awareness about early detection, advancements in healthcare infrastructure, an increasing focus on educating healthcare professionals, and collaboration between diagnostic companies, research institutions, and healthcare providers are helping to expand access to liquid biopsy technologies across different regions.

Key Players

·         Thermo Fisher Scientific Inc

·         Myriad Genetic Inc

·         Guardant Health Inc

·         Qiagen N.V.

·         F. Hoffman La Roche Ltd.

·         ANGLE Plc

·         Biocept Inc

·         Lucence Health Inc

·         Freename, Holdings Inc

·         Oncimmune Holdings Plc

·         Other Players