Press release
Liquid Biopsy Market Set to Grow at 13.5% CAGR, Reaching USD 6.5 Billion by 2032 with Increased Use in Cancer Detection and Treatment Monitoring
Liquid Biopsy Industry Analysis 2024-2032• The global liquid biopsy market size reached USD 2.0 Billion in 2023.
• The market is expected to reach USD 6.5 Billion by 2032, exhibiting a growth rate (CAGR) of 13.5% during 2024-2032.
• North America leads the market, accounting for the largest liquid biopsy market share.
• Kits and reagents account for the majority of the market share in the product and service segment due to their crucial role in facilitating accurate and reliable liquid biopsy testing.
• Circulating tumor cells hold the largest share in the liquid biopsy industry.
• Lung cancer remains a dominant segment in the market as liquid biopsy is being increasingly utilized for early detection, treatment monitoring, and recurrence evaluation in lung cancer cases.
• Hospitals and laboratories represent the leading end user segment.
• The increasing use of liquid biopsy for early cancer detection is a primary driver of the liquid biopsy market.
• The growing use of liquid biopsy for monitoring treatment response is propelling the liquid biopsy market.
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What are the drivers of the liquid biopsy market?
• Growing Adoption of Liquid Biopsy in Early Cancer Detection:
A key trend in the liquid biopsy market is the increasing adoption of this technology for early cancer detection. Traditional biopsies are often invasive and may not capture the full heterogeneity of a tumor, but liquid biopsy offers a less invasive and more comprehensive alternative by analyzing circulating tumor DNA (ctDNA) and other biomarkers from a simple blood sample. This makes it an appealing option for both patients and healthcare providers, particularly for screening high-risk populations and detecting cancers at an early stage when treatment is more likely to be successful. Liquid biopsies are gaining traction in detecting a wide range of cancers, including lung, breast, colorectal, and prostate cancers. Ongoing research and technological advancements are improving the sensitivity and specificity of these tests, allowing for earlier detection and better monitoring of cancer recurrence or progression. As healthcare systems increasingly prioritize early detection to improve patient outcomes and reduce treatment costs, the demand for liquid biopsy technologies is expected to continue rising, positioning this market segment for significant growth.
• Increasing Use of Liquid Biopsy for Monitoring Treatment Response:
Another growing trend in the liquid biopsy market is its use in monitoring treatment response in cancer patients. Liquid biopsy allows clinicians to track changes in tumor genetics over time by analyzing ctDNA or circulating tumor cells (CTCs), offering a real-time snapshot of a patient's response to therapies. This is particularly useful for precision medicine, where treatment strategies are tailored to the genetic profile of a patient's tumor. By monitoring treatment response with liquid biopsy, clinicians can quickly determine whether a therapy is effective and adjust treatment plans accordingly, reducing the time spent on ineffective treatments. Liquid biopsy is also gaining popularity for detecting minimal residual disease (MRD), which helps identify cancer cells that may remain after treatment, potentially preventing relapse. This trend is growing as liquid biopsy technologies become more widely available and accessible, offering a non-invasive and cost-effective alternative to repeated tissue biopsies or imaging studies. The ability to continuously monitor a patient's condition without invasive procedures is driving the adoption of liquid biopsy as a critical tool in personalized cancer care.
• Expansion of Liquid Biopsy into Non-Cancer Applications:
While cancer detection and monitoring remain the primary applications of liquid biopsy, there is a growing trend toward expanding its use into non-cancer applications. Researchers and clinicians are exploring the potential of liquid biopsy in areas such as prenatal testing, organ transplant monitoring, and infectious disease diagnosis. In prenatal testing, liquid biopsy techniques are being used to analyze fetal DNA in the mother's bloodstream, offering a safer, non-invasive alternative to traditional methods like amniocentesis. This allows for early detection of genetic abnormalities such as Down syndrome without risking harm to the fetus. Similarly, in organ transplants, liquid biopsy is being used to monitor for signs of rejection by detecting donor-derived cell-free DNA (ddcfDNA) in the recipient's bloodstream. This provides a more sensitive and timely method for identifying potential transplant complications compared to conventional biopsies. Additionally, liquid biopsy is showing promise in infectious disease diagnostics, particularly in identifying pathogens in cases where tissue samples are difficult to obtain. The expansion of liquid biopsy into these new areas reflects the versatility of this technology and its growing importance beyond oncology, opening up new opportunities for growth in the market.
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Liquid Biopsy Market Report Segmentation:
Breakup By Product and Service:
• Kits and Reagents
• Platforms and Instruments
• Services
Kits and reagents account for the majority of shares due to their essential role in enabling accurate and reliable liquid biopsy testing.
Breakup By Circulating Biomarker:
• Circulating Tumor Cells
• Extracellular Vesicles
• Circulating Tumor DNA
• Others
Circulating tumor cells dominate the market as they provide valuable insights for cancer diagnosis and monitoring through non-invasive methods.
Breakup By Cancer Type:
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Prostate Cancer
• Liver Cancer
• Others
Lung cancer represents the majority of shares as liquid biopsy is increasingly used for early detection, treatment monitoring, and recurrence assessment in lung cancer cases.
Breakup By End User:
• Hospitals and Laboratories
• Academic and Research Centers
• Others
Hospitals and laboratories hold the majority of shares as they are the primary settings for conducting diagnostic tests and treatment monitoring using liquid biopsy.
Breakup By Region:
• 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
North America holds the leading position owing to a large market for liquid biopsy driven by its advanced healthcare infrastructure, high adoption of new technologies, and significant investments in cancer research.
Who are the players in the liquid biopsy market?
The liquid biopsy market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
• ANGLE plc
• Biocept Inc.
• Bio-Rad Laboratories Inc
• Epigenomics AG
• Exact Sciences Corporation
• Hoffmann-La Roche AG
• Guardant Health Inc.
• Illumina Inc.
• MDxHealth SA
• Menarini Silicon Biosystems
• QIAGEN N.V.
• Thermo Fisher Scientific Inc.
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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.
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