Ottawa, Dec. 27, 2023 (GLOBE NEWSWIRE) -- The global liquid biopsy market size was valued at USD 5,397.61 million in 2023, grew to USD 6,171.08 million in 2024 and the sector is expanding at a remarkable CAGR of 14.5% between 2023 and 2032.
The liquid biopsy market is driven by the growing prevalence of cancer, rising investment, increasing research and development, growing product approvals, and advancements in genomic technology.
The market is ready and the increasing demand highlights its potential. The U.S. liquid biopsy market will reach USD 6,018.10 million by 2032. After 2022 closed with 1,634.62 million dollars in revenue, the size of the U.S. liquid biopsy market grew to reach 1,858.87 million dollars in 2023. The estimates speak of a remarkable growth of about 13.9% from today and for the next 9 years.
A liquid biopsy is a non-invasive medical test that detects genetic alterations or other molecular changes in a patient bodily fluid, such as blood or urine. Unlike traditional biopsies that involve the removal of tissue samples, liquid biopsies provide valuable information about the presence of genetic mutations, circulating tumor cells, or other biomarkers associated with various diseases, particularly cancer. Liquid biopsies have gained significant attention in the field of oncology because they offer a less invasive and more accessible method for monitoring and diagnosing cancers. These tests can help in the early detection of cancer, monitoring treatment response, and assessing the development of resistance to therapies.
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Liquid biopsies are especially useful in situations where obtaining tissue samples through traditional methods is challenging or not feasible. The primary components analyzed in liquid biopsies include circulating tumor DNA (ctDNA), circulating tumor cells (CTCs), extracellular vesicles, and various proteins and other molecules shed by tumors into the bloodstream. The information obtained from liquid biopsies can aid clinicians in making more informed decisions regarding patient treatment plans.
- According to the Institute of Health and Welfare estimates for 2022:
- In Australia, 162,000 new instances of cancer were diagnosed, or more than 440 cases on average per day; males accounted for more than half (55%) of these cases.
- Male skin melanoma (10,374), colorectal cancer (8,300 cases), lung cancer (7,707 cases), and prostate cancer (24,217 cases) were the most prevalent cancers diagnosed in this demographic.
- In females, colorectal cancer (7,413 cases), lung cancer (6,822 cases), melanoma of the skin (7,382 cases), and breast cancer (20,428 cases) were the most prevalent cancer diagnoses.
Key Insights:
- North America contributed the highest share of 37% in 2022.
- Asia-Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
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Growth Factors of Liquid Biopsy Market
The global liquid biopsy market is primarily driven by the rising prevalence of cancer among the global population and rising awareness regarding the availability of different non-invasive treatments. As per the data provided by the International Agency for Research on Cancer in the GLOBOCAN 2020 estimates, around 19.3 million new cases of cancer and around 10 million deaths were reported due to cancer in 2020. The rising prevalence of breast cancer among the female population has made it the most common type of cancer diagnosed across the globe. In 2020, around 2.3 million new breast cancer cases were recorded, closely followed by the lungs cancer, colorectal cancer, and prostate cancer. Cancer is the second most leading cause of death across the globe, as per the World Health Organization. There are several benefits associated with the new liquid biopsy technique such as rapid results, low cost, early prognosis, overcoming tumor heterogeneity, low risk, and non-invasiveness. All these benefits of the liquid biopsy over the traditional diagnosis is fueling the adoption of the liquid biopsy among the patients across the globe, and is expected to significantly drive the demand during the forecast period.
The increased awareness about the cancer is boosting the liquid biopsy market growth as liquid biopsy technique can detect the cancer early, can monitor progression of tumor, and can assess clinical prognosis. Moreover, the proliferation of advanced technologies has boosted the demand for the non-invasive diagnosis and treatments that is expected to spur the demand for the liquid biopsy in the forthcoming years. The rising investments by the market players in the clinical trials for the development of innovative diagnostic solutions is exponentially contributing towards the market growth.
Scope of Liquid Biopsy Market
| Report Highlights | Details |
| CAGR | 14.5% From 2023 to 2032 |
| Global Market Size in 2023 | USD 5,397.61 Million |
| Global Market Size by 2032 | USD 18,280.13 Million |
| U.S. Market Size in 2023 | USD 1,858.87 Million |
| U.S. Market Size by 2032 | USD 6,018.10 Million |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Historical Year | 2020-2021 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Segment Covered | Technology, Usage, Types of Sample, Biomarker, Products, Indication Type, Clinical Application, and Regions |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Rest of the World |
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Regional Stance
The North America liquid biopsy market size was valued at USD 2,159.44 million in 2022 and is estimated to reach USD 8,111.09 million by 2032, growing at a CAGR of 14.5% from 2023 to 2032.
The Asia Pacific liquid biopsy market size was valued at USD 735.64 million in 2022 and is estimated to reach USD 3,114.33 million by 2032, growing at a CAGR of 15.5% from 2023 to 2032.
The LAMEA liquid biopsy market size was valued at USD 378.56 million in 2022 and is estimated to reach USD 1,275.21 million by 2032, growing at a CAGR of 12.9% from 2023 to 2032.
North America is expected to dominate the market during the forecast period due to an increase in cancer incidence in this area as well as an increase in research and development. Prominent market participants' presence as well as regular fluid biopsy product innovations are anticipated to support the industry's expansion.
For instance, statistics released in 2022 by the American Cancer Society Inc. estimate that in 2021, there were 1.9 million new instances of cancer identified in the US. Furthermore, statistics released in October 2021 by the Public Health Agency of Canada indicate that almost 2 out of every 5 Canadians will receive a cancer diagnosis at some point in their lives, with an anticipated 229,000 Canadians receiving a diagnosis in 2021. The study also stated that it was anticipated that in 2021, prostate, colorectal, lung, and breast cancers will account for approximately 46% of all cancer diagnoses, continuing to be the most frequent cancers.
Report Highlights:
Global Liquid Biopsy Market Revenue, by Technology ($ Million)
| Technology | 2020 | 2021 | 2022 | 2023 | 2024 |
| NGS | 2,353.00 | 2,689.81 | 3,075.92 | 3,518.98 | 4,027.27 |
| PCR | 796.4 | 912.22 | 1,045.24 | 1,198.19 | 1,374.00 |
| Others | 470.6 | 532.01 | 601.57 | 680.43 | 769.81 |
The NGS segment is expected to dominate the market during the forecast period. NGS is a potent method for the investigation of circulating biomarkers in liquid biopsy samples because it can identify genetic changes in extremely low quantities. NGS's excellent sensitivity and specificity help identify mutations and other genomic changes associated with cancer with accuracy. In addition, it makes it possible to analyze many genes and genomic areas at once. This feature makes it possible to perform thorough genomic profiling, which offers a more thorough knowledge of the genetic makeup of cancers. Serum or plasma from liquid biopsies can be examined for a variety of mutations and genetic anomalies associated with cancer. Thereby driving the segment growth.
Type of Sample Insights
The blood segment is expected to hold a substantial market share over the projected period. Compared to conventional biopsy techniques, liquid biopsies based on blood provide significant benefits. Liquid biopsies based on blood are non-invasive, painless, and risk-free. It also cuts down on the time and expense needed for diagnosis. Blood-based liquid biopsy is becoming more widely used as a result of the ability to identify exomes, CTCs, cfDNAs, and microvesicles in blood samples.
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Market Dynamics:
Driver
Growing investment
The use of liquid biopsy as an advanced diagnostic method and a research tool has grown in the last several years. Because of this, the industry has drawn investors who will finance the creation and marketing of liquid biopsy products in addition to the study and development of new technologies. Many vendors have benefited from investment from a range of investors, including GRAIL, Guardant Health, Exosome Diagnostics, Pathway Genomics, and Inivata. For instance, Dxcover secured USD14.34 million in grant and Series A funding in February 2023. With the help of this financing, the Dxcover liquid biopsy platform—which is used to diagnose tumors in their early stages, including colorectal and brain cancer—will continue to expand. As a result, during the projected period, these investments are anticipated to support market expansion.
Restraint
Lack of skilled professionals
As liquid biopsy is still a relatively new and developing discipline, there might not be enough qualified individuals in the field who can do liquid biopsy testing. In liquid biopsy, blood samples are analyzed for genetic mutations, changes, and other biomarkers using sophisticated molecular methods. Liquid biopsy necessitates specific training in molecular biology, genetics, and oncology in addition to skill with blood sample handling and processing. There may not be enough clinical laboratories or healthcare facilities with the tools, knowledge, and resources to conduct liquid biopsy testing, which creates a scarcity of qualified workers in this area. Thus, a lack of skilled professionals might be a major restraining factor for the market growth.
Opportunity
Technological advancements
The sensitivity, accuracy, and application of liquid biopsy are all improved by technological advancements, making it an increasingly useful tool for cancer diagnosis and surveillance. The identification of biomarkers associated with cancer has become more sensitive and specific because of developments in liquid biopsy technology. Several indicators may be analyzed simultaneously from a single sample using modern liquid biopsy technologies. Additionally, the quality and amount of ctDNA extracted from liquid biopsies have increased due to advancements in cfDNA extraction and analysis procedures. As a result, ctDNA analysis is now a trustworthy way to track how well cancer patients are responding to treatment and how their disease is developing. Therefore, throughout the forecast period, these advancements are anticipated to fuel the expansion of the worldwide liquid biopsy market.
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Recent Developments:
- In November 2023, the distributed liquid biopsy test for genomic profiling was upgraded by Illumina Inc., a pioneer in array-based technologies and DNA sequencing worldwide. The novel TruSightTM Oncology 500 ctDNA v2 (TSO 500 ctDNA v2) is a research assay that allows for the noninvasive comprehensive genomic profiling (CGP) of circulating tumor DNA (ctDNA) from blood in situations when tissue testing is not feasible or supplementary to tissue-based testing.
- In December 2023, a leading provider of cloud-native software and data-driven medicine, SOPHiA GENETICS, launched an extended range of products under SOPHiA DDMTM for Liquid Biopsy. Tumor mutation profiling and cancer research will advance with a variety of solutions, which include MSK-ACCESS® powered by SOPHiA DDMTM and bespoke solutions. The introduction of SOPHiA GENETICS' liquid biopsy capabilities shows the company's dedication to creating cutting-edge products that facilitate prompt, important decision-making and enhance patient outcomes.
- In July 2022, the first cancer liquid biopsy products, Northstar SelectTM and Northstar ResponseTM, were released by BillionToOne, Inc., a next-generation molecular diagnostics firm whose goal is to provide robust and accurate tests that are affordable for everyone. Some university cancer institutions are presently using the goods for research purposes.
- In April 2023, the technological cooperation between Agena Bioscience and nRichDX developed into a business agreement whereby the two companies jointly market their goods to researchers working on liquid biopsy applications using the Agena MassARRAY platform.
- In May 2023, leading international life sciences business Labcorp introduced Labcorp Plasma Focus, a novel liquid biopsy test that allows patients with advanced or metastatic solid tumors to choose their focused course of treatment. By using a customized, targeted treatment plan, the test enables treating oncologists to assess circulating cell-free DNA (cfDNA) generated by tumor cells and better manage their patients' care.
Market Key Players:
- Bio-Rad Laboratories
- Biocept Inc.
- Guardant Health
- Illumina, Inc.
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Laboratory Corporation of America Holdings
- MDxHealth SA
- QIAGEN N.V
- Thermo Fisher Scientific Inc.
Market Segmentation
By Technology
- NGS
- PCR
- FISH
- Other
By Usage
- RUO
- Clinical
By Types of Sample
- Blood
- Urine
- Saliva
- CerebroSpinal Fluid
By Biomarker
- Circulating Tumor Cells
- Cell-free DNA
- Circulating Cell-Free RNA
- Exosomes and Extracellular Vesicles
- Others
By Products
- Test/Services
- Kits and Consumable
- Instruments
By Indication Type
- Lung Cancer
- Breast Cancer
- Prostate Cancer
- Colorectal Cancer
- Melanoma
- Other cancers
- Non-Oncology Disorders
By Clinical Application
- Treatment Monitoring
- Prognosis and Recurrence Monitoring
- Treatment Selection
- Diagnosis and Screening
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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