A quick peek into the report
Global Liquid Biopsy Market Report Coverage
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Global Liquid Biopsy Market |
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Base Year |
2023 |
Market Size in 2023 |
$4,072.6 Million |
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Forecast Period |
2024-2033 |
Value Projection and Estimation by 2033 |
$20,224.7 Million |
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CAGR During Forecast Period |
16.83% |
Number of Pages |
170 |
| Number of Tables | 56 |
Number of Figures |
82 |
Key Market Players and Competition Synopsis
The companies profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Based on offering, the liquid biopsy testing service segment players leading the market captured around 49.16% of the market's presence as of 2023. Kits, platform, and consumables, on the other hand, accounted for approximately 28.24%, 5.09%, and 17.51% of the market presence in 2023, respectively.
Source: BIS Research Analysis
Some prominent names established in this market are:
• BillionToOne, Inc.
• Bio-Rad Laboratories, Inc.
• Dxcover Limited
• Epic Sciences
• F. Hoffmann-La Roche Ltd.
• GENinCode Plc (Abcodia Ltd.)
• Guardant Health
• Illumina, Inc.
• Laboratory Corporation of America Holdings
• Micronoma, Inc.
• Natera, Inc.
• NeoGenomics Laboratories
• Personalis, Inc.
• Qiagen N.V.
• Revvity, Inc. (PerkinElmer, Inc.)
• Sysmex Corporation
• Tempus Labs, Inc.
• Thermo Fisher Scientific, Inc.
Global Liquid Biopsy Market Industry Overview
The global liquid biopsy market was valued at $4,072.6 million in 2023 and is expected to reach $20,224.7 million by 2033, growing at a CAGR of 16.83%. Liquid biopsy is a potential non-invasive diagnostic technique that is transforming cancer detection and monitoring. It offers real-time monitoring, minimal invasiveness, and the potential for early detection of cancer recurrence or treatment response. The growth of the liquid biopsy market is driven by several factors, such as the rising burden of cancer, growing research publications, and clinical trials in liquid biopsy, which are leading to increased demand for liquid biopsy tests and products. Additionally, growing adoption and demand for minimally invasive cancer detection methods have led to the development of more effective and innovative tests and kits. Furthermore, initiatives by governments revolutionizing cancer detection and management have also played a significant role in driving market growth. Moreover, the expanding availability of these supplements through various distribution channels, including online platforms and retail stores, has further facilitated market expansion and accessibility to consumers worldwide.
Market Introduction
In the realm of cancer diagnostics, the liquid biopsy market takes the forefront, offering a non-invasive method to identify and monitor cancer by analyzing circulating biomarkers in bodily fluids. With the increasing burden of cancer, as mentioned by the World Health Organisation in their press release in February 2024, that there were 20 million new cancer cases and 9.8 million deaths, there has been a notable shift toward proactive approaches to early detection of cancer and non-invasive diagnostic procedures. This has led to a surge in demand for a diverse range of non-invasive diagnostic products for cancer detection, making cancer early detection easier and reducing the mortality rate.
The growing emphasis on personalized oncology and targeted therapies for cancer treatment has fuelled demand for companion diagnostics tests on liquid biopsy. Facilitation of its adoption in clinical practices by government approvals and reimbursement policies has paved the way for their integration into standard oncology care. As awareness about early cancer detection and its non-invasive diagnostic method continues to rise, the liquid biopsy market is poised for further expansion and diversification in the coming years.
Industrial Impact
The growth of the liquid biopsy market has not only provided relief to individuals having cancer symptoms but has also had a notable industrial impact. Manufacturers and suppliers of these products have witnessed increased demand, leading to expanded production capacities and job creation within the industry.
Market Segmentation:
Segmentation 1: by Offering
• Testing Service
• Kits
• Platform
• Other Consumables
Testing Service Segment to Dominate the Liquid Biopsy Market (by Offering)
The Testing Service segment is poised to dominate the liquid biopsy market by offering. This dominance can be attributed to the increasing incidence of chronic diseases such as cancer along with the demand for its early diagnosis and treatment.
Segmentation 2: by Technology
• Next-Generation Sequencing
• Polymerase Chain Reaction
• Other Technologies
• Emerging Technologies
Next-Generation Sequencing to Dominate the Liquid Biopsy Market (by Technology)
The next-generation sequencing segment is anticipated to dominate the liquid biopsy market by technology. This dominance stems from the widespread demand for non-invasive techniques for the analysis of non-solid biological tissues for the detection of cancer cells or fragments of DNA circulating in the bloodstream. Additionally, the integration of next-generation sequencing in liquid biopsy represents a significant advancement in understanding and treating cancer more effectively.
Segmentation 3: by Workflow
• Sample Preparation
• Library Preparation
• Sequencing
• Data Analytics and Management
Library Preparation to Dominate the Liquid Biopsy Market (by Workflow)
The library preparation segment is expected to dominate the liquid biopsy market based on workflow. This dominance is due to its significance in the workflow, as this step involves the preparation of extracted DNA or RNA for sequencing. This segment is evolving rapidly with the increasing introduction of novel-technology-based library preparation kits such as Invitrogen Collibri PS DNA Library Prep kit for Illumina systems.
Segmentation 4: by Usage
• Clinical
• Research
Research Segment to Dominate the Liquid Biopsy Market (by Usage)
The research segment of the liquid biopsy market by usage is expected to lead the market as liquid biopsies are primarily used for scientific studies and in the development of new non-invasive diagnostic methods. Research with liquid biopsies is not intended for immediate implementation in patient care but for the expansion of the scientific knowledge base. This segment’s growth is driven by several key factors, such as collaboration between companies and institutions and funding activities for research and development of new products for liquid biopsy.
Segmentation 5: by Sample
• Blood
• Urine
• Saliva
• Others
Blood to Dominate the Liquid Biopsy Market (by Sample)
The blood segment is positioned to dominate the liquid biopsy market based on sample, as blood is a rich source of biomarkers such as circulating tumor cells (CTCs) and circulating tumor DNA (ctDNA). The non-invasive nature of blood collection, along with the extensive variety of genetic material it offers, positions blood as an optimal medium for the detection and ongoing monitoring of various cancers.
Segmentation 6: by Circulating Biomarker
• Circulating Tumor Cells (CTCs)
• Cell-Free DNA (cfDNA)
• Circulating Cell-Free RNAs
• Exosomes and Extracellular Vesicles and Others
• Other Circulating Biomarkers
Circulating Tumor Cells (CTCs) to Dominate the Liquid Biopsy Market (by Circulating Biomarker)
The circulating tumor cells (CTCs) segment is positioned to dominate the liquid biopsy market based on circulating biomarkers, as circulating tumor cells shed from the primary tumor into the bloodstream and circulate in the body and through blood sampling these can be used for detection of the presence of cancer and its progression allowing for personalized treatment strategies.
Segmentation 7: by Indication
• Breast Cancer
• Prostate Cancer
• Lung Cancer
• Colorectal Cancer
• Melanoma
• Other Types of Cancer
Lung Cancer Segment to Dominate the Liquid Biopsy Market (by Indication)
The lung cancer segment is expected to experience dominance in the liquid biopsy market based on indication, as it is one of the most common and lethal forms of cancer. Its high prevalence highlights an increasing demand for early detection, which can be achieved by liquid biopsies by analyzing circulating tumor DNA (ctDNA) and other biomarkers in blood.
Segmentation 8: by Clinical Application
• Treatment Monitoring
• Prognosis and Recurrence Monitoring
• Treatment Selection
• Diagnosis and Screening
Treatment Selection Segment to Dominate the Liquid Biopsy Market (by Clinical Application)
The treatment selection segment is positioned to dominate the liquid biopsy market based on clinical application, as it plays a significant role in disease treatment. This application makes treatment more precise and effective. The dominance of this segment is driven by an increasing number of products available for treatment selection for various types of cancers. Various companies, such as Epic Sciences and Guardant Health, are providing techniques for disease treatment selection.
Segmentation 9: by End User
• Academic and Research Institutions
• Clinical Laboratories
• Pharmaceutical and Biotechnology
• Companies
• Other End Users
Academic and Research Institutes Segment to Dominate the Liquid Biopsy Market (by End User)
The academic and research institutes segment is expected to lead the liquid biopsy market based on end users, as these are primarily focused on conducting research. Academic and research institutions involve liquid biopsy in studying the molecular groundwork of various diseases such as cancer. These are at the forefront of scientific research as they possess the infrastructure and capacity to pioneer new methodologies. This segment leads the market due to its robust innovation capabilities, extensive collaborative network between institutions and companies, and significant funding for research.
Segmentation 10: by Region
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest-of-Europe
• Asia-Pacific
o Japan
o India
o China
o South Korea
o Australia
o Singapore
o Rest-of-Asia-Pacific
• Latin America
o Brazil
o Mexico
o Rest-of-Latin America
• Middle East and Africa
o U.A.E.
o K.S.A.
o South Africa
o Rest-of-Middle East and Africa
The North America region is positioned to hold a significant share of the global market for several compelling reasons. The Asia-Pacific region encompasses a large and diverse population, including a significant proportion of cancer-affected individuals, thereby creating a substantial market demand for liquid biopsy testing services and products. The market in this region is mainly driven by technological advancements in healthcare and advanced research and development in the field of molecular diagnostics, thereby aiding in understanding various types of cancers. Along with this rising burden of cancer, the focus on personalized medicine in oncology and the growing adoption of non-invasive diagnostic procedures for the diagnosis of chronic diseases such as cancer significantly affects the market growth.
Recent Developments in the Liquid Biopsy Market
• In February 2024, GEDiCube, now known as RenovaroCube, signed a legally binding Letter of Intent.
• In February 2024, Twist Bioscience Corporation introduced the cfDNA Library Preparation Kit aimed at facilitating liquid biopsy research.
• In January 2024, Myriad Genetics disclosed its purchase of Precise Tumor, Precise Liquid, and Laboratory divisions from Intermountain Precision Genomics in January of this year.
• In May 2023, Menarini Silicon Biosystems teamed up with Alivio Health, establishing a partnership that provides exclusive access to the CELLSEARCH CTC tests for clients and healthcare providers affiliated with Alivio Health. This collaboration enables the ongoing tracking of cancer patients over time, offering valuable insights into their condition.
• Qiagen introduced the QIAseq Targeted cfDNA Ultra Panels in April 2023. These panels facilitate the conversion of liquid-biopsy samples containing cell-free DNA (cfDNA) into sequencing-ready libraries for next-generation sequencing (NGS) within a timeframe of less than eight hours. This innovation greatly benefits researchers investigating various diseases, particularly cancer, by expediting sample preparation processes.
Demand - Drivers, Challenges, and Opportunities
Market Demand Drivers:
Rising Burden of Cancer: The anticipated global increase in cancer incidence is set to significantly boost the demand for liquid biopsy technologies. By 2040, cancer cases are expected to rise by 55% to 28 million annually, highlighting the need for advanced diagnostics such as liquid biopsy for early detection and monitoring. In China, cancer patterns are shifting, with projections showing up to 6.9 million new cases annually by 2040. The non-invasive, efficient nature of liquid biopsy makes it vital for addressing rising cancer rates, especially in developing regions, underscoring its importance in advancing personalized cancer care and diagnostics.
Market Challenges:
Technical Limitations in Liquid Biopsy: The technical limitations of liquid biopsies mainly arise from the low abundance of circulating tumor DNA (ctDNA) in early-stage cancers or tumors that shed minimal DNA, leading to false negatives. Additionally, distinguishing ctDNA from other DNA fragments in the blood poses a risk of false positives, necessitating advanced sequencing techniques. Studies suggest enhancing the sensitivity and reliability of liquid biopsies through technologies like digital PCR or next-generation sequencing to overcome these challenges.
Market Opportunities:
Integration of AI in Liquid Biopsy: AI integration into liquid biopsy enhances diagnostic accuracy by analyzing extensive data from blood and non-solid samples. In a study by NCBI, AI combined with proteomic analysis identified cellular aging and disease markers in the eye, revealing insights into Parkinson's and diabetic retinopathy. Exai Bio's RNA-based liquid biopsy platform, powered by AI, detects early-stage breast cancer with high accuracy, revolutionizing early diagnosis and personalized treatment while reducing healthcare costs.
Analyst’s Thoughts
According to Swati Sood, Principal Analyst– BIS Research, "The growth of the liquid biopsy market is primarily driven by the rising burden of cancer, growing research publications and clinical trials, and growing adoption and demand of minimally invasive cancer detection methods."
Global Liquid Biopsy Market - A Global and Regional Analysis
Focus on Offering, Usage, Workflow, Circulating Biomarker, Sample, Technology, Indication, Clinical Application, End User, and Region - Analysis and Forecast, 2024-2033
Frequently Asked Questions
Ans: Liquid biopsy is a non-invasive method to detect and analyze biomarkers, such as circulating tumor cells and cell-free DNA, in bodily fluids such as blood or urine. It provides real-time information on cancer presence, genetic mutations, and treatment response. Unlike traditional biopsies, it's less invasive, allows early detection, and is more accessible. This technique is increasingly used in clinical practice for cancer diagnosis, treatment selection, and monitoring, promising improved patient care and outcomes.
Ans: Existing market players in the liquid biopsy industry are adopting various new strategies to strengthen their market position. One prominent strategy has been product diversification, where companies expand their product lines to offer a wider range of supplements tailored to different indications of cancer. This allows them to cater to diverse consumer needs and preferences, capturing a larger share of the market. Additionally, companies are investing in research and development to innovate and improve existing formulations, incorporating new technologies to enhance the effectiveness and accuracy of their products. Another strategy involves strategic partnerships or collaborations with healthcare professionals, wellness experts, or influencers to endorse their products and increase brand credibility and visibility among different companies for the co-development of products.
Ans: The following are the USPs of this report:
• Market regulations and a list of key trends in the liquid biopsy market
• A competitive index of the market specific to the unmet needs and innovations of the key players
• Key challenges faced by manufacturers
• Market dynamic analysis of the opportunities, trends, and challenges in the market
• Competitive benchmarking of key players for each product type
Ans: Healthcare professionals, including doctors, gynecologists, oncologists, and nutritionists, can benefit from the insights to better understand available products and recommend suitable tests to their patients. Pharmaceutical companies and manufacturers involved in liquid biopsy can use the report to assess market trends, identify opportunities for product development, and refine marketing strategies. Retailers, including pharmacies, drug stores, and online retailers, can gain insights into consumer preferences and market dynamics to optimize their product offerings and distribution channels. Investors and financial analysts can leverage the report to evaluate the market's growth potential, assess investment opportunities, and make informed decisions.