Liquid Biopsy Market Size, Share & Trends Analysis Report, 2030


 

Liquid Biopsy Market Growth & Trends

The global liquid biopsy market size is expected to reach USD 22.86 billion by 2030, expanding at a CAGR of 12.46% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing prevalence of cancer and the growing geriatric population are major drivers expected to fuel market growth. Furthermore, the use of technologically advanced devices for early detection of diseases is one of the key factors driving the market. In addition, the increasing preference for noninvasive treatment procedures will offer lucrative opportunities in the forecast period.

In recent years, cases of cancer have been rising tremendously and the trend is projected to remain the same in the foreseeable future. A significant shift in lifestyle has exposed the global population to this disorder and has resulted in oncogenic factors. For instance, as per the American Cancer Society, in 2022, the number of new cancer cases is expected to reach 1.9 million, leading to 609,360 deaths. Companies are focusing on expanding their business operations in the clinical liquid biopsy space.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/liquid-biopsy-market

For instance, in December 2021, Helio Health and Fulgent Genetics announced the launch of the former’s HelioLiver, a new liquid biopsy test for early liver cancer detection. This liquid biopsy test combines serum protein markers and cell-free DNA methylation patterns. Additionally, new research studies are aiding the development of novel liquid biopsy techniques. For instance, in July 2022, the University of Central Florida announced the development of a novel liquid biopsy technique that facilitates early detection using biomarker identification for lung and breast cancer, making the monitoring of conditions easier.

The enhanced interest of players in liquid biopsy and the increasing rate of approval of new products are further accelerating market growth. Moreover, in the past several years, studies have shown a positive outcome of liquid biopsy platforms. Governments and various regulatory bodies have also shown interest in the area by promoting multiple breakthrough devices for the rapid development of this technology. With the high adoption of the technology by various companies, along with the support of government funding and initiatives, the market is expected to grow in the coming years.

Liquid Biopsy Market Report Highlights

  • The ctDNA segment is projected to hold the largest share in the market owing to its wide use as a biomarker in the detection of cancer using liquid biopsy
  • The multi-gene-parallel analysis (NGS) technology segment is expected to grow lucratively due to increasing research and development, increasing cancer cases, advancements in technology, and strategic activities by leading companies
  • North America dominated the global market in 2022, owing to the increasing demand for new technologies, a large pool of key players, the presence of several clinical laboratories, and advanced healthcare infrastructure in the region
  • Asia Pacific is expected to grow considerably in the future, owing to the rising prevalence of target conditions in the region and the presence of key players

Liquid Biopsy Market Segmentation

Grand View Research has segmented the global liquid biopsy market based on sample type, biomarker, technology, application, end-use, clinical application, product, and region:

Liquid Biopsy Sample Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • Blood Sample
  • Others

Liquid Biopsy Biomarker Outlook (Revenue, USD Billion, 2018 - 2030)

  • Circulating Tumor Cells (CTCs)
  • Circulating Tumor DNA (ctDNA)
  • Extracellular Vesicles (EVs)
  • Others

Liquid Biopsy Technology Outlook (Revenue, USD Billion, 2018 - 2030)

  • Multi-gene-parallel Analysis (NGS)
  • Single Gene Analysis (PCR Microarrays)

Liquid Biopsy Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Cancer
    • Lung Cancer
    • Prostate Cancer
    • Breast Cancer
    • Colorectal Cancer
    • Leukemia 
    • Gastrointestinal Cancer
    • Others
  • Reproductive Health
  • Others

Liquid Biopsy End-use Outlook (Revenue, USD Billion, 2018 - 2030)

  • Hospitals and Laboratories
  • Specialty Clinics
  • Academic and Research Centers
  • Others

Liquid BiopsyClinical Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Therapy Selection
  • Treatment Monitoring
  • Early Cancer Screening
  • Recurrence Monitoring
  • Others

Liquid Biopsy Product Outlook (Revenue, USD Billion, 2018 - 2030)

  • Instruments
  • Consumables Kits and Reagents
  • Software and Services

Regional Insights

The North America market for liquid biopsy led with a revenue share of 50.93% in 2022, owing to high cancer prevalence, rapid technological advancements, and growing government initiatives. Moreover, rapid advancements in technology and intense competition between biotechnology companies aided by recent FDA approvals for liquid biopsy tests are among the factors expected to boost regional market growth over the forecast period. For instance, in November 2020, the FDA approved the liquid biopsy NGS-based FoundationOne Liquid CDx test for multiple cancers and biomarkers.

On the other hand, Asia Pacific is projected to exhibit the fastest CAGR over the forecast period. Some of the factors contributing to the market growth are improving healthcare infrastructure, a growing population, and a rising number of companies entering the market. Asia Pacific has a large population, along with a high prevalence of cancer. According to Global Cancer Statistics 2020, an estimated one-half of all cases and around 58.3% of deaths occurred in Asia in 2020.

Thus, usage of screening tests for cancer has increased in the past few years, owing to growing government initiatives such as free screening for cervical, breast, & lung cancer, and increased collaborations between governments, research institutes, & companies for the distribution and supply of these tests.

List of Key Players of Liquid Biopsy Market

  • ANGLE plc
  • Oncimmune
  • Guardant Health, Inc.
  • Myriad Genetics, Inc.
  • Biocept, Inc.
  • Lucence Health Inc.
  • Freenome Holdings, Inc.
  • Hoffmann-La Roche Ltd.
  • QIAGEN
  • Illumina, Inc.
  • Thermo Fisher Scientific, Inc.
  • Epigenomics AG

Authoritative Research: https://www.grandviewresearch.com/industry-analysis/liquid-biopsy-market

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