Liquid Biopsy Market

Market Overview:

The global liquid biopsy market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2028, exhibiting a growth rate (CAGR) of 15.3% during 2023-2028. The increasing prevalence of cancer among the masses, the rising demand for personalized medicine and treatments and the development of automated liquid biopsy platforms represent some of the key factors driving the market.

Liquid biopsy is a minimally invasive diagnostic technique that involves analyzing a patient's blood or other body fluids to detect tumor-derived genetic material or other biomarkers. It has emerged as a promising approach to cancer diagnosis, monitoring, and personalized treatment. It is based on the principle that cancer cells continuously release their genetic material, including DNA, RNA, and proteins, into the bloodstream or other bodily fluids. By analyzing these circulating tumor biomarkers, liquid biopsy tests can detect and monitor cancer progression, evaluate treatment response, and detect residual disease or recurrence. It has several advantages over traditional tissue biopsy, which involves removing a sample of tissue from the tumor site for analysis. It is less invasive, quicker, and can be performed repeatedly over time, enabling real-time monitoring of tumor dynamics and treatment response. It also helps identify specific genetic mutations or alterations in tumors, which can guide personalized treatment decisions and improve patient outcomes.

Liquid Biopsy Market Trends:

The global market is primarily driven by the increasing prevalence of cancer among the masses. This can be attributed to the changing lifestyle patterns and sedentary routines of the masses, especially among working professionals. Along with this, continual technological advancements, such as the introduction of next-generation sequencing (NGS), digital PCR, and droplet digital PCR (ddPCR), that help in improving the sensitivity and specificity of liquid biopsy tests, enabling the detection of low-frequency mutations and variants are creating a positive market outlook. Additionally, the development of automated liquid biopsy platforms has made the testing process faster, more efficient, and more cost-effective is providing a boost to the market. Apart from this, the rising demand for personalized medicine and treatments among the masses is significantly supporting the demand for liquid biopsy as it aids in analyzing the genetic mutations and alterations in a patient's tumor in an efficient manner. Furthermore, the growing development of new applications for liquid biopsies, such as early cancer detection and minimal residual disease (MRD) monitoring is also driving the market favorably. Other factors, including rapid digitization and urbanization, continual improvements in the healthcare industry and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global liquid biopsy market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and service, circulating biomarker, cancer type and end user.

Product And Service Insights:

• Kits and Reagents
• Platforms and Instruments
• Services
   

The report has provided a detailed breakup and analysis of the liquid biopsy market based on the product and service. This includes kits and reagents, platforms and instruments and services. According to the report, kits and reagents represented the largest segment.

Circulating Biomarker Insights:

• Circulating Tumor Cells
• Extracellular Vesicles
• Circulating Tumor DNA
• Others
   

A detailed breakup and analysis of the liquid biopsy market based on the circulating biomarker has also been provided in the report. This includes circulating tumor cells, extracellular vesicles, circulating tumor DNA and others. According to the report, circulating tumor cells accounted for the largest market share.

Cancer Type Insights:

• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Prostate Cancer
• Liver Cancer
• Others
   

The report has provided a detailed breakup and analysis of the liquid biopsy market based on the cancer type. This includes lung cancer, breast cancer, colorectal cancer, prostate cancer, liver cancer and others. According to the report, lung cancer represented the largest segment.

End User Insights:

• Hospitals and Laboratories
• Academic and Research Centers
• Others
   

A detailed breakup and analysis of the liquid biopsy market based on the end user has also been provided in the report. This includes hospitals and laboratories, academic and research centers and others. According to the report, hospitals and laboratories accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others) and the Middle East and Africa. According to the report, North America was the largest market for liquid biopsy. Some of the factors driving the North America liquid biopsy market included continual technological advancements, continual improvements in the healthcare industry, extensive research and development (R&D) activities conducted by key players, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global liquid biopsy market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include ANGLE plc, Biocept Inc., Bio-Rad Laboratories Inc, Epigenomics AG, Exact Sciences Corporation, F. Hoffmann-La Roche AG, Guardant Health Inc., Illumina Inc., MDxHealth SA, Menarini Silicon Biosystems, QIAGEN N.V., Thermo Fisher Scientific Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global liquid biopsy market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global liquid biopsy market?
• What is the impact of each driver, restraint, and opportunity on the global liquid biopsy market?
• What are the key regional markets?
• Which countries represent the most attractive liquid biopsy market?
• What is the breakup of the market based on the product and service?
• Which is the most attractive product and service in the liquid biopsy market?
• What is the breakup of the market based on the circulating biomarker?
• Which is the most attractive circulating biomarker in the liquid biopsy market?
• What is the breakup of the market based on cancer type?
• Which is the most attractive cancer type in the liquid biopsy market?
• What is the breakup of the market based on end use?
• Which is the most attractive end use in the liquid biopsy market?
• What is the competitive structure of the global liquid biopsy market?
• Who are the key players/companies in the global liquid biopsy market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the liquid biopsy market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global liquid biopsy market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the liquid biopsy industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.