Liquid Biopsy Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

The Liquid Biopsy Market Size was estimated to be US$ 4.57 billion in 2021 and US$ XX billion in 2023 and is expected to reach US$ 12.69 million by 2031; it is estimated to record a CAGR of 11.2% till 2031. Consistent launch of new products is likely to remain a key Liquid Biopsy Market trends.  

Liquid Biopsy Market Analysis

Liquid biopsy is a type of diagnostic test that can identify various types of cancer without being invasive. The growing prevalence of cancer among the population is leading to the growth of the liquid biopsy market across the world. For instance, As per the World Health Organization (WHO), in 2022, ~20 million new cancer cases and 9.7 million deaths caused by cancer were reported worldwide. Additionally, the latest estimates from WHO’s Global Cancer Observatory indicated that in 2022, 10 different types of cancer accounted for approximately two-thirds of new cancer cases and deaths worldwide. Among these, lung cancer was the most commonly occurring cancer globally, accounting for 2.5 million new cases and 12.4% of the total new cases. Female breast cancer ranked 2nd with 2.3 million cases and 11.6% of the total new cases, followed by colorectal cancer, accounting for 9.6% of the total new cases. Prostate cancer ranked fourth with 1.5 million cases, and stomach cancer ranked fifth with 970,000 cases. Thus, there is largest potential market for liquid biopsy is as a screening tool for testing asymptomatic individuals for various types of cancer. Hence, increasing demand for Liquid biopsies driving the liquid biopsy market growth.

Liquid Biopsy Market Overview

Global liquid biopsy market is segmented by region into North America, Asia Pacific, Europe, South & Central America, and Middle East & Africa. The North American region dominates the liquid biopsy market with the largest share. The US held the largest market for liquid biopsy market in North America and is expected to grow due to factors such as propelling number of cancer cases, growing developments for liquid biopsy by the companies and others.

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Liquid Biopsy Market: Strategic Insights

Liquid Biopsy Market

• 
  CAGR (2023 - 2031)

  11.2%
• Market Size 2021
  US$ 4.57 Billion
• Market Size 2031
  US$ 12.69 Million

Market Dynamics

GROWTH DRIVERS

• Liquid biopsy is a type of diagnostic test that can identify various types of cancer without being invasive. The growing prevalence of cancer among the population is leading to the growth of the liquid biopsy market across the world. For instance, According to the World Health Organization (WHO), in 2022, ~20 million new cancer cases and 9.7 million deaths caused by cancer were reported worldwide. Additionally, the latest estimates from WHO’s Global Cancer Observatory indicated that in 2022, 10 different types of cancer accounted for approximately two-thirds of new cancer cases and deaths worldwide. Among these, lung cancer was the most commonly occurring cancer globally, accounting for 2.5 million new cases and 12.4% of the total new cases. Female breast cancer ranked 2nd with 2.3 million cases and 11.6% of the total new cases, followed by colorectal cancer, accounting for 9.6% of the total new cases. Prostate cancer ranked fourth with 1.5 million cases, and stomach cancer ranked fifth with 970,000 cases. Thus, there is largest potential market for liquid biopsy is as a screening tool for testing asymptomatic individuals for various types of cancer. Hence, increasing demand for Liquid biopsies driving the Liquid biopsy market growth

FUTURE TRENDS

• There is a growing preference for minimally or noninvasive tests among patients for diagnostic purposes. Early cancer detection, mutation detection, tumor monitoring throughout treatment, and recurrence monitoring are possible using liquid biopsy, which uses a noninvasive method. Patients prefer minimally invasive procedures because the advanced instruments used in such procedures allow for more delicate and complex work to be performed with lower risk, less pain, and less scarring. Due to technological advancements in feasibility and processing times, liquid biopsy have recently attracted considerable interest as a noninvasive alternative to tissue biopsy in cancer patients. Liquid biopsy adoption will be aided by an increased understanding of improved minimally invasive cancer detection technologies. The market growth will be influenced by the rising demand for noninvasive tools such as liquid biopsy. A liquid biopsy is a noninvasive and simple alternative to surgical biopsies that allows doctors to discover a range of information about tumors from a simple blood sample. A blood test is painless, noninvasive, has no risks, and cuts down the cost and time to diagnose a problem. In addition, Circulating tumor cells (CTCs), Circulating cell-free DNA (cfDNA), exosomes, and microvesicles can be detected in a blood sample, making blood-based liquid biopsies more popular. Thus, the increased demand for minimally invasive diagnostic tests is spurring the market growth

OPPORTUNITIES

• According to the College of American Pathologists, ctDNA testing is likely to expand in clinical care. Due to continued research on circulating tumor DNA (ctDNA)/RNA, CTCs, and extracellular vesicles, the images of tumor status with increased resolution can be obtained through liquid biopsies. The uses of liquid biopsy range from monitoring cancer growth to detecting genetic mutations, identifying signs of relapse, and predicting sensitivity to immunotherapy. The advantages of liquid biopsies and technological improvements will continue to expand their applicability and utility in monitoring patients for relapse and determining the best treatments. The growing applications are likely to offer significant opportunity for the growth of the market

Key Players

• Biocept, inc.
• Bio-rad laboratories, inc.
• Lunglife ai, inc
• exosome diagnostics
• F. Hoffmann-la roche ltd
• Inivata ltd
• Exact sciences corporation
• Mdxhealth
• Qiagen
• Thermo fisher scientific inc.

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product & Services

• Equipment
• Reagents & Kits
• Services

Sample

• Blood Based
• Urine Based
• Other samples

Circulating Biomarker

• Circulating Tumor Cells

Application

• Noninvasive Prenatal Testing

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Liquid Biopsy Market Drivers and Opportunities

Rising preference for minimally invasive cancer diagnostics to Favor Market   

There is a growing preference for minimally or noninvasive tests among patients for diagnostic purposes. Early cancer detection, tumor monitoring throughout treatment, recurrence monitoring, and mutation detection are possible using liquid biopsy, which uses a noninvasive method. Patients tend to prefer minimally invasive procedures as they involve the use of advanced instruments that allow for more intricate work to be performed with less pain, lower risk, and minimal scarring. In recent times, there has been considerable interest in circulating tumor cell diagnostics and liquid biopsy as a non-invasive substitute for tissue biopsy in cancer patients. The adoption of liquid biopsy will be facilitated by advancements in minimally invasive cancer detection technologies. The market growth will be influenced by increasing demand for non-invasive diagnostic tools and laboratory acceptance of CTCs tests and liquid biopsy.  

A liquid biopsy is a simple and non-invasive alternative to surgical biopsies that enables medical professionals to gather various information about tumors from a blood sample. Blood tests are painless, non-invasive, and bear no risks, which significantly cuts down the cost and time to diagnose a problem. Moreover, CTCs, exosomes, cfDNAs, and microvesicles can be detected in a blood sample, making blood-based liquid biopsies more popular. Therefore, the rising demand for minimally invasive diagnostic tests is driving the market growth.       

Increasing Liquid Biopsy Due to Growing Application and Advancements – An Opportunity  

According to the College of American Pathologists, ctDNA testing is likely to expand in clinical care. Due to continued research on circulating tumor DNA (ctDNA)/RNA, CTCs, and extracellular vesicles, the images of tumor status with increased resolution can be obtained through liquid biopsies. The uses of liquid biopsy range from monitoring cancer growth to detecting genetic mutations, identifying signs of relapse, and predicting sensitivity to immunotherapy.  The advantages of liquid biopsies and technological improvements will continue to expand their applicability and utility in monitoring patients for relapse and determining the best treatments. The growing applications are likely to offer significant opportunity for the growth of the market.

Liquid Biopsy Market Report Segmentation Analysis

Key segments that contributed to the derivation of the liquid biopsy market analysis are product& services, sample, circulating biomarker, application, and end user.

• Based on product & services, the liquid biopsy market is segmented into equipment, reagents & kits, and services. The reagents & kits segment held a largest market share in 2023.
• By sample, the market is segmented into segmented into urine based, blood based, and other samples. The blood based segment held the largest share of the market in 2023.
• By circulating biomarker, the market is segmented into exosomes, free nucleic acid, and circulating tumor cells (CTC).  The circulating tumor cells (CTC) segment held the largest share of the market in 2023.
• By application, the market is segmented into oncology, transplant diagnostics, noninvasive prenatal testing (NIPT), and other applications. The oncology segment held the largest share of the market in 2023.
• By end user, the market is segmented into hospitals, reference laboratories, academic & research institutes, and other end users. The hospitals segment held the largest share of the market in 2023.

Liquid Biopsy Market Share Analysis by Geography

The geographic scope of the Liquid Biopsy Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

North America has dominated the liquid biopsy market. In North America, the US is the largest market for liquid biopsy. The growth of liquid biopsy market is primarily driven by growing prevalence of cancer, high R&D spending for new diagnostics and presence of major market players in the US are going to proliferate the growth of liquid biopsy market in this country.  Every year, the American Cancer Society predicts the number of new cancer cases and deaths in the US. According to their projections, in 2023, there were 1,958,310 new cancer cases in the US. Further, Asia Pacific is anticipated to grow with the highest CAGR in the coming years.      

Liquid Biopsy Market Report Scope

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Liquid Biopsy Market News and Recent Developments

The Liquid Biopsy Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for liquid biopsy:

• In February 2024, Twist Bioscience Corporation launched the cfDNA Library Preparation Kit to facilitate liquid biopsy research using its silicon platform. (Source: Twist Bioscience Corporation, 2024)
• In September 2023, Pillar Biosciences, a provider in decision medicine, globally launched oncoReveal Core LBx, a next-generation sequencing (NGS) kit designed to enable laboratories with a solution for liquid biopsy-based pan-cancer tumor profiling. (Source: Pillar Biosciences, 2023)
• In July 2022, BillionToOne, Inc., a next-generation molecular diagnostics company, launched its first oncology liquid biopsy products - Northstar Select and Northstar Response. These products are currently available for research use with select academic cancer centers. (Source: BillionToOne, Inc., 2022)

Liquid Biopsy Market Report Coverage and Deliverables

The “Liquid Biopsy Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles