Liquid Biopsy Market Size to Exceed USD 20.41 Billion by 2034

The global liquid biopsy market size was valued at USD 5.39 billion in 2023 and is projected to reach USD 20.41 billion by 2033, registering a CAGR of 14.23% from 2024 to 2033. The rising adoption of artificial intelligence in liquid biopsy technology drives the growth of the liquid biopsy market. The U.S. liquid biopsy market size is poised to reach around USD 6.62 billion by 2033 and growing at a CAGR of 13.55% from 2024 to 2033.

The liquid biopsy market deals with medical techniques transforming diagnostics by identifying biomolecules such as proteins, RNA, and DNA in bodily fluids such as blood. Liquid biopsy is non-invasive and provides vital diagnostics insights into diseases such as cancer without surgery. Liquid biopsies show immense promise in improving cancer management and detection and marking a significant step in medical innovation.

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In the world, cancer disease is the second leading cause of death, and the increasing prevalence of cancer is becoming a critical health challenge globally. In the several cancer indications, breast cancer is the most common kind of cancer globally, followed by prostate cancer, colorectal cancer, and lung cancer. The rising healthcare expenditure in the adoption of liquid biopsy technologies and the increasing demand for non-invasive biopsy products due to the increasing focus on early cancer detection are expected to drive market growth.

Market Scope

Report Highlights

· North America region has accounted market share of 45.59% in 2023.

· By technology, the NGS segment has captured revenue share of 65.20% in 2023.

· By sample type, blood sample-based tests has accounted market share 67.59% in 2023.

· By usage, clinical segment has captured revenue share of 72.17% in 2023.

· By biomaker, cell-free DNA segment has generated revenue share of 47.87% in 2023.

· By product, kits & consumables has garnered share of 53.12% in 2023.

· By indication, lung cancer has accounted largest share of 32.10% in 2023.

· By application, screening segment has garnered market share of 39.27% in 2023.

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Liquid Biopsy Market at a Glance

The growth of the liquid biopsy market is significantly driven by various factors such as increasing global health organizations’ awareness initiatives and increasing the burden of cancer. Liquid biopsy techniques facilitate the tracking of resistance development and enable real-time tumor monitoring to specific therapies, thereby offering vital insights for physicians using targeted cancer treatments contributed to propel the market growth.

In addition, these tests find transplantation medicine and non-invasive prenatal testing. These advantages are accelerating the swift adoption and advancement of liquid biopsy services and products across the monitoring, treatment, and diagnosis of various diseases. The increasing proliferation of advanced technologies and growing investments in clinical trials by major market players for the development of innovative diagnostic solutions are further expected to enhance the growth of the liquid biopsy market.

Growing Healthcare Spending to Fuel the Market Growth

Advanced diagnostic methods, such as liquid biopsies, are being prioritized, along with increased investment in healthcare infrastructure and resources. These technologies provide effective and non-invasive approaches for cancer monitoring, detection, and tailored therapy planning. As healthcare systems try to improve patient outcomes, the benefits of liquid biopsies, such as low invasiveness, early cancer identification, and treatment efficacy assessment, make them an appealing and efficient option. As healthcare systems aim to improve patient outcomes through liquid biopsies, the benefits of low invasiveness, early cancer detection, and treatment efficacy assessment make them appealing and efficient. These reasons are projected to drive the liquid biopsy market throughout the forecast period.

However, the High Cost of Liquid Biopsy Tests May Restrain the Market Growth

Liquid biopsy tests often include specialized equipment and advanced technologies expected to their expensive cost. In addition, factors such as the need for skilled personnel and laboratory processing fees further elevate the overall cost. As a result, patients may face financial barriers, especially in regions with limited access to inadequate insurance coverage or healthcare resources. The affordability gap limits widespread adoption of liquid biopsy tests, despite their potential advantages in terms of early personalized treatment and cancer detection. Thus, these restraining factors are expected to restrain the growth of the liquid biopsy market.

The Growing Advancements in Precision Medicine to Revolutionize the Market Growth

The rising advancements in this field allow non-invasive monitoring and detection of diseases via analysis of circulating biomarkers such as exosomes, circulating tumor cells (CTCs), and Circulating tumor DNA (ctDNA). This approach facilitates early monitoring, selection, and diagnosis response and improves patient outcomes. Liquid biopsy holds immense potential for personalized medicine, with its ability to provide real-time insights into therapeutic efficacy and disease progression. As a result, it has become an indispensable equipment in oncology and beyond. Thus, these boosting factors are expected to enhance the growth of the liquid biopsy market in the near future.

North America Dominated the Liquid Biopsy Market in 2023

Due to the increased adoption of liquid biopsy, the region is dominated the market share in 2023. North America is the dominated region. This can lead to the increasing prevalence of cancer in the region, tailored to the rising adoption of advanced diagnostic technologies. The US and Canada are the leading and major contributors to the market in North America. Lung cancer is the leading cause of cancer-related deaths in the US, according to the American Cancer Society and liquid biopsy tests are receiving popularity for early cancer detection and monitoring. In the US, FDA-approved tests can monitor various types of advanced cancers and help healthcare providers to make treatment decisions.

· For instance, In November 2023, a global leader in DNA sequencing and array-based technologies, Illumina Inc. Launched a new generation of its distributed liquid biopsy essay for genomic profiling.

Asia Pacific is Expected to Grow Fastest During the Forecast Period.

The rising healthcare spending for better health services and increasing awareness of advanced diagnostic technology are expected to enhance the growth of the liquid biopsy market in the region. The key market players focus on various service approvals and launches during the forecast period. Furthermore, the increase in optimized advancement of techniques and processes is also attributed to the increasing demand for liquid biopsy. China, India, Japan, and South Korea are the major countries in the region.

• For instance, in September 2023, a leading independent clinical laboratory company, Adicon Holdings Limited announced that they provide a leading precision oncology company, liquid biopsy tests from Guardant Health.
• The aim behind this launch was to advance clinical research and the development of new cancer therapies in China. The blood-based tests provided biopharmaceutical companies with access to comprehensive genomic profiling (CGP),

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Liquid Biopsy Market Segment

By product type, the kits and consumables segment led the market

The kits and consumables segment is growing at a significant growth during the forecast period. The segment growth can be attributed to the increasing demand for kits and consumables, due to the inaccessibility of direct laboratories. These factors are expected to drive the growth of the kits and consumables segment during the forecast period.

By technology type, the NGS segment led the market

The next generation sequencing segment attributed to the growth of the market in 2023. The NGS technology segment is driven by the higher efficiency of the lower-frequency variants of cancer. The advancements in the NGS have resulted in the increasing integration of this technology as it can detect novel and rare mutations of cancer easily.

Liquid Biopsy Market News

· In February 2024, Twist Bioscience Launched the cfDNA Library Preparation Kit for Liquid Biopsy Applications to enable liquid biopsy research.

· In February 2024, the Early Detection Liquid Biopsy Test, a cancer detection mechanism was launched by the Continental hospitals. This blood allows earlier cancer detection and can potentially help save lives. This new form of testing made early detection more accessible and less invasive according to doctors.

· In January 2024, Dxcover Ltd. initiated three pivotal trials to measure the efficacy of its liquid biopsy platform for early detection of brain, colorectal, and lung cancers. The company hopes the trials will provide the evidence needed to gain regulatory approval and begin commercial operations of its diagnostic technology in Europe and the U.S.

Liquid Biopsy Market Top Companies

· Bio-Rad Laboratories

· Biocept Inc.

· Guardant Health

· Illumina, Inc.

· F. Hoffmann-La Roche Ltd.

· Johnson & Johnson

· Laboratory Corporation of America Holdings

· MDxHealth SA

· QIAGEN N.V

· Thermo Fisher Scientific Inc.

Segments Covered in the Report

By Technology

· NGS

· PCR

· FISH

· Other

By Usage

· RUO

· Clinical

By Types of Sample

· Blood

· Urine

· Saliva

· CerebroSpinal Fluid

By Circulating Biomarker

· Circulating Tumor Cells

· Cell-free DNA

· Circulating Cell-Free RNA

· Exosomes and Extracellular Vesicles

· Others

By Products

· Test/Services

· Kits and Consumable

· Instruments

By Indication Type

· Lung Cancer

· Breast Cancer

· Prostate Cancer

· Colorectal Cancer

· Melanoma

· Other cancers

· Non-Oncology Disorders

By Clinical Application

· Treatment Monitoring

· Prognosis and Recurrence Monitoring

· Treatment Selection

· Diagnosis and Screening

By Geography

· North America

· Europe

· Asia-Pacific

· LAMEA

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