Chicago, May 27, 2024 (GLOBE NEWSWIRE) – Liquid Biopsy Market In terms of revenue, it was estimated to be worth $6.4 billion in 2024 and is set to reach $11.3 billion in 2029, growing at a CAGR of 11.9% from 2024 to 2029, according to a latest report published by MarketsandMarkets.
With the increasing incidence and prevalence of cancer worldwide, there is a growing need for effective methods of early detection, therapy selection, monitoring response to treatment, and detection of disease recurrence. Liquid biopsies provide a promising solution by allowing doctors to detect and analyze cancer-related biomarkers more easily and frequently than traditional tissue biopsies. Growing adoption and recognition of the advantages of liquid biopsy over traditional biopsy methods are also driving strong evolution in liquid biopsy products and services. However, the lack of desired sensitivity and specificity in certain liquid biopsy products is likely to limit market growth.
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Liquid biopsy Market Scope:
| Report coverage | Details |
| Market revenue in 2024 | 6.4 billion dollars |
| Estimated value for 2029 | 11.3 billion dollars |
| Growth rate | Poised to grow at a CAGR of 11.9% |
| Available market size for | 2022-2029 |
| Forecast period | 2024-2029 |
| Forecast units | Value (millions of dollars) |
| Report coverage | Revenue forecast, competitive landscape, growth factors and trends |
| Segments covered | Product and service, circulating biomarker, clinical application, technology, application, sample type and end user. |
| Geographies covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa and GCC countries |
| Report Highlights | Updated financial information/product portfolio of players. |
| Key market opportunity | Increasing importance of complementary diagnosis |
| Key market driver | Greater benefits of liquid biopsy over conventional biopsy procedures |
Based on product and service, the liquid biopsy market is segmented into assay kits, instruments, and services. In 2023, assay kits accounted for the majority of the liquid biopsy market. The large proportion of test kits segment can be attributed to the recurring need and large purchases of test kits among end users. Other factors, such as the growing demand for liquid biopsy testing, the broad applications of liquid biopsies, and the requirement for reliable and specific assays, are expected to drive its adoption in the coming years.
Categorized by circulating biomarker, the liquid biopsy market is segmented into circulating tumor cells, circulating tumor DNA, cell-free DNA, extracellular vesicles, and other circulating biomarkers. In 2023, the majority of the liquid biopsy market was held by the circulating tumor cells segment. CTCs' market dominance in the liquid biopsy market is driven by their real-time, comprehensive and actionable information on tumor status and heterogeneity. Their abundance, viability, and prognostic importance reinforce their role as a fundamental component in cancer diagnosis and personalized medicine, establishing them as the preferred option for liquid biopsy applications.
Categorized by application, the liquid biopsy market is divided into oncology and non-oncology applications. In 2023, the anti-cancer applications segment accounted for the predominant share of the liquid biopsy market. Initially focused on a few specific cancer types, liquid biopsy technology has expanded to cover a wide range of cancer types, including, but not limited to, breast, lung, colorectal, prostate and pancreatic cancers. This broad applicability further contributes to its dominance in the liquid biopsy market.
The liquid biopsy market is classified into six regions. These include North America, Europe, Asia Pacific, Latin America, the Middle East and Africa, and GCC countries. Within these regions, Asia Pacific is projected to show the highest CAGR. Governments in several Asia Pacific countries are implementing initiatives to address the burden of cancer and improve access to quality healthcare services. Financial support for research and development in the field of oncology, including liquid biopsy technology, encourages innovation and drives market growth.
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Prominent Players of Liquid Biopsy Market
- Natera, Inc. (United States)
- QIAGEN (Netherlands)
- Myriad Genetics, Inc. (USA)
- Illumina, Inc. (USA)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Thermo Fisher Scientific Inc. (USA)
- Guardant Health (US)
- Bio-Rad Laboratories, Inc. (USA)
- Exact Sciences Corporation (USA)
- Sysmex Corporation (Japan)
- Biocept, Inc. (USA)
- mdxhealth (United States)
- Personal, Inc. (TO US)
- NeoGenomics Laboratories (USA)
- Epigenomics AG (Germany)
- ANGLE plc (United Kingdom)
- Menarini-Silicon Biosystems (Italy)
- Vortex Biosciences (USA)
- Bio-Techne (USA)
- MedGenome (US)
- Mesa Labs, Inc. (USA)
- Laboratory Corporation of America Holdings (USA)
- Freenome Holdings, Inc. (USA)
- Beach (India)
- LungLife AI, Inc. (US)
- Lucence Health Inc. (USA)
- and among others
This report classifies the liquid biopsy market based on product and service, circulating biomarker, clinical application, technology, application, sample type, end user, and region:
By product and service
- Test kits
- Instruments
- Services
By circulating biomarker
- Circulating tumor cells
- circulating tumor DNA
- cell free DNA
- extracellular vesicles
- Other circulating biomarkers
By clinical application
- Early detection of cancer
- Therapy selection
- Treatment monitoring
- Recurrence monitoring
By technology
- Parallel multigene analysis using NGS
- Single gene analysis by PCR
By application
- Anti-cancer applications
- Lung cancer
- breast cancer
- colonectal cancer
- prostate cancer
- Melanoma
- Other cancers
- Non-cancerous applications
- Non-invasive prenatal testing
- organ transplant
- Infectious disease testing
By sample type
- Blood sample
- Other types of samples
By end user
- Reference Laboratories
- Hospitals and medical laboratories
- Academic and research centers
- Other end users
By region
- North America
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- The rest of Europe
- Pacific Asia
- Japan
- Porcelain
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East and Africa
- GCC countries
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Key market players:
• Senior management
• Final user
• Finance/Procurement Department
• R&D Department
Report objectives:
- Define, describe, segment and forecast the liquid biopsy market, by product and service, circulating biomarker, technology, application, clinical application, sample type, end user and region.
- Provide detailed information on the major factors influencing market growth (drivers, restraints, opportunities and challenges)
- Analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market.
- Analyze market opportunities for stakeholders and provide competitive landscape details for key players.
- Forecast the size of market segments with respect to six regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, Latin America and GCC countries.
- Profile key players and comprehensively analyze their product portfolios, market positions and core competencies.
- Track and analyze company developments such as acquisitions, collaborations, partnerships, agreements, and product launches and approvals in the liquid biopsy market.
- Compare the players within the hemostats market using the Company Assessment Matrix framework, which analyzes the market players on various parameters within the broad categories of business strategy, market share, and product offering.
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