Liquid Biopsy Market Size, Share, Growth Analysis, By Product & Services, By Circulating Biomarker, By Technology, By End User, By Region - Industry Forecast 2024-2031

Global Liquid Biopsy Market was valued at around 9.28 billion in 2022 and is expected to rise from USD 10.32 billion in 2023 to reach a value of USD 24.14 billion by 2031, at a CAGR of 11.21% during the forecast period (2024-2031).

The liquid biopsy market has experienced significant growth due to the increasing global incidence of cancer and the rising demand for faster, less invasive diagnostic methods. In the United States, non-small-cell lung cancer has emerged as the most prevalent type of lung cancer in recent years. Between 2010 and 2017, there were approximately 1.28 million new cases of non-small-cell lung cancer reported in the US. This high incidence highlights the need for advanced diagnostic tools such as liquid biopsy tests, which can efficiently detect cancer and help develop targeted treatment plans. Moreover, the growing use of liquid biopsy techniques reflects a broader shift towards personalized medicine and precision oncology. These advanced diagnostic methods offer significant advantages over traditional tissue biopsies by enabling real-time monitoring of disease progression and treatment efficacy. This capability allows for more timely and tailored interventions. As the focus of healthcare continues to emphasize early detection and customized treatment approaches, the liquid biopsy market is expected to expand steadily. This growth is fueled by technological advancements, increased research activities, and heightened awareness among both healthcare professionals and patients.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Liquid Biopsy market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Liquid Biopsy Market Segmental Analysis

The liquid biopsy market is segmented by Product & Services, Circulating Biomarker, Clinical Application, Technology, Application, Sample Type, End-User and Region. Based on Product & Services, the market is segmented into Assay Kits, Instruments, and services. Based on Circulating Biomarker, the market is segmented into Circulating Tumor Cells, Circulating Tumor DNA, Cell-free DNA, Extracellular Vesicles, and Others. Bases on Clinical Applications, the market is segmented into Early Cancer Screening, Therapy Selection, Treatment Monitoring, and Recurrence Monitoring. Based on Technology, the market is segmented into Multi-Gene Parallel Analysis using NGS, and Single-Gene Analysis using PCR. Based on Application, the market is segmented into Cancer Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, and Others), Non-Cancer Application (Non-Invasive Prenatal Testing, Organ Transplantation, and Infectious Disease Testing). Based on Sample Type, the market is segmented into Blood Samples, Urine Sample, Saliva Sample, and Others. Based on End-User the market is segmented into Hospitals & Clinics, Diagnostic Centers, Reference Laboratories, Academic & Research Centers, and Others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Liquid Biopsy Market

Liquid biopsy techniques offer several advantages over traditional biopsies. As previously noted, they are minimally invasive, resulting in less patient discomfort and making them a more acceptable option for those undergoing diagnostic procedures. Additionally, liquid biopsies are highly effective at capturing tumor heterogeneity, providing a comprehensive view of cancer evolution that facilitates personalized treatment strategies. They also enable real-time monitoring, allowing healthcare providers to track disease progression more accurately and implement timely interventions, which can lead to better patient outcomes. Consequently, the advancements in liquid biopsy methods are preferred by both patients and healthcare providers, driving increased demand and adoption in clinical practice.

Restraints in the Global Liquid Biopsy Market

The liquid biopsy market faces several key challenges, including a lack of standardization and regulatory guidelines. The process of obtaining regulatory approval for liquid biopsy tests is often complex and time-consuming, which can delay the introduction of new products to the market. Additionally, the high cost of liquid biopsy tests and limited reimbursement coverage in certain regions may hinder market growth. Addressing these challenges could involve the development of standardized guidelines and improvements in reimbursement coverage for liquid biopsy tests, which would help mitigate these obstacles and support market expansion.

Market Trends of the Global Liquid Biopsy Market

A significant trend in the liquid biopsy market is the growing use of next-generation sequencing (NGS) technology. NGS facilitates high-throughput sequencing of DNA and RNA, enabling the detection of numerous cancer biomarkers from a single sample. This technology is becoming increasingly favored in liquid biopsy tests due to its ability to provide highly sensitive and specific results. These capabilities enhance early cancer detection and allow for effective monitoring of treatment responses. As the demand for NGS-based liquid biopsy tests continues to rise, it is anticipated to drive substantial growth in the market in the years ahead.