CHICAGO, May 8, 2024 /PRNewswire/ -- Liquid Biopsy
Market in terms of revenue was estimated to be worth
$6.4 billion in 2024 and is poised to
reach $11.3 billion by 2029, growing
at a CAGR of 11.9% from 2024 to 2029 according to a new report by
MarketsandMarkets™.
In recent years, there has been substantial growth in the liquid
biopsy market. The increasing burden of cancer cases globally has
highlighted the urgent requirement for more effective and less
invasive diagnostic tools. In this context, liquid biopsy emerges
as a highly valuable solution. Unlike traditional tissue biopsies,
which often involve invasive procedures and can be associated with
discomfort and risks for patients, liquid biopsy offers a
non-invasive alternative for detecting and monitoring cancer.
Furthermore, these tests can also be used in non-invasive prenatal
testing and transplantation medicine. Thus, these advantages are
driving the rapid evolution and uptake of liquid biopsy products
and services in disease diagnosis, treatment, and monitoring.
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Browse in-depth TOC on "Liquid Biopsy
Market"
406 - Tables
56 - Figures
343
- Pages
Liquid Biopsy Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$6.4 billion
|
Estimated Value by
2029
|
$11.3
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 11.9%
|
Market Size Available
for
|
2022–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Product & service,
circulating biomarker, clinical application, technology,
application, sample type, and end user
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America, the Middle East & Africa, and GCC
countries
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Growing significance of
companion diagnostics
|
Key Market
Drivers
|
Increased benefits of
liquid biopsy over conventional biopsy procedures
|
In 2023, the assay kits segment held the largest share of the
liquid biopsy market by product & service segment.
Based on product & service, the liquid
biopsy market has been segmented into assay kits, instruments,
and services. The assay kits segment dominated the liquid biopsy
market in 2023. The versatility of assay kits contributes to their
market dominance. These kits are adaptable to various biomarkers
and analytes, accommodating the diverse needs of liquid biopsy
applications, from detecting circulating tumor DNA (ctDNA) to
monitoring treatment response and disease progression.
The therapy selection segment held the largest share of the
liquid biopsy market by clinical application segment in
2023.
Based on clinical applications, the liquid biopsy market is
segmented into early cancer screening, therapy selection, treatment
monitoring, and recurrence monitoring. In 2023, the largest
share of the liquid biopsy market was held by the therapy selection
segment. The growth of therapy selection as the major clinical
application segment is fueled by the advantages of liquid biopsy
over traditional methods with its minimally invasive, real-time
monitoring capabilities across various cancer types, its
integration into clinical trials and drug development processes,
and its cost-effectiveness in guiding therapy selection.
North America is the largest
regional market for liquid biopsy market.
The market for liquid biopsy has been divided into six key
geographical regions, namely North
America, Europe,
Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. In 2023,
North America held the predominant
portion of the liquid biopsy market. The region boasts a
well-developed healthcare infrastructure, including advanced
diagnostic facilities, specialized oncology centers, and a skilled
workforce. This infrastructure supports the integration of liquid
biopsy into routine clinical practice, facilitating access for
patients across various healthcare settings.
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Liquid Biopsy Market Dynamics:
Drivers:
1. Rising incidence and prevalence of cancer
2. Cancer awareness initiatives undertaken by global health
organizations
3. Benefits of liquid biopsy over traditional biopsy
procedures
Restraints:
1. Lower sensitivity of certain liquid biopsy
procedures
Opportunities:
1. Growing significance of companion diagnostics
2. Growth opportunities in emerging countries
Challenge:
1. Unclear reimbursement scenario
Key Market Players of Liquid Biopsy
Industry:
The major players operating in this market are Natera, Inc.
(US), QIAGEN (Netherlands), Myriad
Genetics, Inc. (US), Illumina, Inc. (US), F. Hoffmann-La Roche Ltd
(Switzerland), Thermo Fisher
Scientific Inc. (US), Guardant Health (US), Bio-Rad Laboratories,
Inc. (US), Exact Sciences Corporation (US), Sysmex Corporation
(Japan), Biocept, In. (US),
mdxhealth (US), Personalis, Inc. (US), NeoGenomics Laboratories
(US), Epigenomics AG (Germany),
ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), Vortex Biosciences (US), Bio-Techne
(US), MedGenome (US), Mesa Labs, Inc. (US), Laboratory Corporation
of America Holdings (US), Freenome Holdings, Inc. (US), Strand
(India), LungLife AI, Inc. (US),
and Lucence Health Inc. (US).
The break-up of the profile of primary participants in the
liquid biopsy market:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 –
30%
- By Designation: C-level - 27%, D-level - 18%, and Others -
55%
- By Region: North America -
51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6%, and Middle East & Africa- 4%
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Recent Developments of Liquid Biopsy Industry:
- In February 2024, Myriad
Genetics, Inc. (US) entered into a definitive agreement to acquire
select assets from Intermountain Health. These included assets from
its Intermountain Precision Genomics (IPG) laboratory business,
including the Precise Tumor Test, the Precise Liquid Test, and
IPG's CLIA-certified laboratory.
- In January 2024, Natera, Inc.
(US) acquired certain assets relating to non-invasive prenatal and
carrier screening business from Invitae (US).
- In November 2023, Illumina, Inc.
(US) launched its TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA
v2.
- In April 2023, QIAGEN
(Netherlands) launched the QIAseq
Targeted cfDNA Ultra Panels, enabling researchers studying cancer
and other diseases to turn cell-free DNA (cfDNA) liquid-biopsy
samples into libraries ready for NGS in less than eight hours.
- In January 2022, Illumina, Inc.
(US) partnered with Boehringer Ingelheim (Germany). This partnership was aimed to
accelerate the development of therapy selection and precision
medicines for patients with advanced cancer.
Liquid Biopsy Market - Key Benefits of Buying the
Report:
The report will help the market leaders/new entrants in this
market with information on the closest approximations of the
revenue numbers for the overall liquid biopsy market and the
subsegments. This report will help stakeholders understand the
competitive landscape and gain more insights to position their
businesses better and plan suitable go-to-market strategies. The
report also helps stakeholders understand the pulse of the market
and provides them with information on key market drivers,
restraints, opportunities, and challenges.
The report provides insights on the following
pointers:
- Analysis of key drivers (Rising incidence and prevalence of
cancer, cancer awareness initiatives undertaken by global health
organizations, and increased benefits of liquid biopsy over
traditional biopsy procedures), opportunities (Growing significance
of companion diagnostics and growth opportunities in emerging
countries), restraints (Lower sensitivity of certain liquid biopsy
procedures), and challenges (Unclear reimbursement scenario)
influencing the growth of the liquid biopsy market.
- Product Development/Innovation: Detailed insights on upcoming
technologies, research & development activities, and new
product launches in the liquid biopsy market.
- Market Development: Comprehensive information about lucrative
markets – the report analyses the liquid biopsy market across
varied regions.
- Market Diversification: Exhaustive information about new
products, untapped geographies, recent developments, and
investments in the liquid biopsy market.
- Competitive Assessment: In-depth assessment of market shares,
growth strategies, product offerings of leading players like
Natera, Inc. (US), QIAGEN (Netherlands), Myriad Genetics, Inc. (US),
Illumina, Inc. (US), and F. Hoffmann-La Roche Ltd (Switzerland).
Related Reports:
Biomarkers Market - Global Forecasts to 2029
Companion Diagnostics Market - Global Forecasts to
2029
Biopsy Devices Market - Global Forecasts to 2028
Breast Biopsy Devices Market - Global Forecasts to
2028
Immunohistochemistry (IHC) Market - Global Forecasts to
2028
Get access to the latest updates on Liquid Biopsy Companies and
Liquid Biopsy Industry Growth
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