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US Liquid Biopsy Market Estimated to Grow at an Impressive CAGR of 10.5% by 2031 | Persistence Market Research Analysis
Overview of the US Liquid Biopsy MarketThe US liquid biopsy market is experiencing significant growth, with its value expected to increase from an estimated US$4.1 billion in 2024 to US$10.5 billion by 2031, marking a compound annual growth rate (CAGR) of 14.3% over the period. This surge can be attributed to advancements in non-invasive diagnostic technologies, as well as the increasing prevalence of cancer and chronic diseases in the country. Liquid biopsies are gaining traction in the healthcare industry, offering early detection and monitoring of various cancers, such as lung, breast, and colorectal cancer. Their ability to provide real-time information on cancer progression, treatment response, and potential recurrence is making them indispensable tools for personalized medicine.
Among the key drivers of growth are the ongoing technological advancements in liquid biopsy techniques and the growing demand for early-stage cancer detection. Furthermore, the increasing number of FDA approvals for liquid biopsy products and their growing acceptance among healthcare providers contribute to the market's expansion. The assay kits segment is expected to dominate the market, as these kits are cost-effective, easy to use, and adaptable to various clinical applications. Geographically, North America, particularly the United States, leads the global market due to its robust healthcare infrastructure, significant investments in cancer research, and high demand for early-stage cancer detection solutions.
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Key Highlights from the Report
• The US liquid biopsy market is projected to grow from US$4.1 billion in 2024 to US$10.5 billion by 2031.
• The market is expected to register a CAGR of 14.3% from 2024 to 2031.
• Assay kits lead the market due to their affordability and ease of use.
• The circulating tumor cells (CTCs) biomarker segment is expected to experience strong growth.
• Increased regulatory approvals and reimbursement policies are vital for market expansion.
• Liquid biopsy is increasingly being used for monitoring minimal residual disease (MRD).
Market Segmentation
The US liquid biopsy market can be segmented based on various factors, such as product type, biomarker type, application, and end-user. The market is primarily divided into assay kits, instruments, and services. Among these, assay kits have emerged as the most dominant product segment. They offer simplicity, cost-effectiveness, and standardization, which makes them popular in both clinical and research settings. With technological advancements and a growing body of research, the demand for these kits is expected to increase significantly over the forecast period.
The market can also be segmented based on biomarker type, with circulating tumor cells (CTCs) and circulating tumor DNA (ctDNA) being the most prominent biomarkers. CTCs have garnered attention due to their potential for early cancer detection and their ability to provide valuable prognostic information. Recent advances in technology, such as microfluidics and advanced imaging, have enhanced the sensitivity and specificity of CTC detection, which is expected to contribute to the growth of this segment in the coming years.
Regional Insights
The United States holds a significant share of the global liquid biopsy market, driven by its advanced healthcare system and increasing adoption of liquid biopsy tests. The market in the US benefits from strong regulatory support, including FDA approvals for liquid biopsy products, which encourage widespread adoption. Additionally, the high prevalence of cancer in the country further accelerates the demand for early-stage detection solutions, making the US a key player in the liquid biopsy space.
While the US is leading the market, the demand for liquid biopsy is also growing in other regions such as Europe and Asia. In Europe, the increasing focus on personalized medicine and government support for cancer research is helping expand the use of liquid biopsy tests. Meanwhile, in Asia, emerging economies are witnessing rapid growth in healthcare infrastructure and investments in cancer research, creating significant opportunities for liquid biopsy companies.
Market Drivers
Several factors are driving the growth of the US liquid biopsy market. One of the key drivers is the increasing advantages of liquid biopsy over traditional biopsy techniques. Liquid biopsies are non-invasive, cost-effective, and provide real-time data on cancer progression and treatment response. These features make them more attractive compared to traditional biopsies, which are invasive, expensive, and often require multiple visits for monitoring.
The growing awareness about liquid biopsy's potential to detect cancers at an early stage is another key factor driving its market growth. Early cancer detection can significantly improve survival rates, reduce treatment costs, and enhance patient quality of life. As liquid biopsy technologies continue to evolve, their ability to monitor tumor dynamics, predict recurrence, and offer personalized treatment options will further increase their value in cancer care.
Market Restraints
Despite its growing popularity, the US liquid biopsy market faces several challenges that may impede its growth. One of the major concerns is the lower specificity and sensitivity of some liquid biopsy techniques. While liquid biopsies offer advantages over traditional methods, some tests may yield false-negative results, especially when circulating tumor DNA (ctDNA) is present at low levels in the blood. False negatives could lead to missed diagnoses, delayed treatment, or inaccurate monitoring of disease recurrence.
Another significant challenge is the regulatory hurdles and reimbursement issues surrounding liquid biopsy tests. Obtaining regulatory approvals from agencies like the FDA can be a lengthy and expensive process. Furthermore, the lack of clear reimbursement policies for liquid biopsy tests may limit their accessibility to patients, particularly those in need of early detection and treatment options.
Market Opportunities
There are several exciting opportunities for growth in the US liquid biopsy market. One of the most promising opportunities is the development of companion diagnostics. As precision medicine becomes more prevalent, liquid biopsy tests that identify actionable mutations or biomarkers for personalized treatment are gaining importance. Companies developing these diagnostics are likely to see significant demand, particularly as the healthcare industry increasingly focuses on targeted therapies and immunotherapies.
Another significant opportunity lies in the use of liquid biopsy for monitoring minimal residual disease (MRD) after cancer treatment. MRD monitoring allows healthcare providers to track the presence of residual tumor cells in patients after they have undergone treatment, offering a powerful tool for post-treatment surveillance and improving patient outcomes. Companies that develop highly accurate MRD assays will be well-positioned to capitalize on this growing market.
Reasons to Buy the Report
✔ Understand the projected growth and trends in the US liquid biopsy market.
✔ Gain insights into the key drivers and challenges influencing market growth.
✔ Learn about the leading market segments, including assay kits and circulating tumor cells.
✔ Identify growth opportunities and areas of investment within the US market.
✔ Stay informed about the latest regulatory developments and their impact on market dynamics.
Frequently Asked Questions (FAQs)
1. How Big is the US Liquid Biopsy Market?
2. Who are the Key Players in the Global Market for Liquid Biopsy?
3. What is the Projected Growth Rate of the US Liquid Biopsy Market?
4. What is the Market Forecast for the US Liquid Biopsy Market by 2031?
5. Which Region is Estimated to Dominate the Liquid Biopsy Industry through the Forecast Period?
Company Insights
Key players operating in the US liquid biopsy market include:
• Biocept, Inc.
• Qiagen N.V.
• Illumina, Inc.
• Myriad Genetics, Inc.
• Thermo Fisher Scientific, Inc.
• Guardant Health
• F. Hoffmann-La Roche Ltd
• ANGLE plc
• BIODESIX
• NeoGenomics Laboratories, Inc.
Recent developments in the market include:
• February 2024: Myriad Genetics, Inc. signed a formal deal to acquire certain assets from Intermountain Health, including the Precise Tumor Test and the Precise Liquid Test.
• November 2022: Thermo Fisher Scientific introduced digital PCR liquid biopsy assays for the Applied Biosystems absolute Q dPCR system, designed to streamline cancer research.
By exploring these advancements and industry developments, businesses can better understand the evolving landscape of the US liquid biopsy market and seize opportunities for innovation and growth.
About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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