Liquid Biopsy Market Size To Reach USD 18.28 Bn By 2032

The global liquid biopsy market was valued at USD 4.72 billion in 2022 and is projected to surpass USD 18.28 billion by 2032, poised to grow at a CAGR of 14.5% from 2023 to 2032.

Key Points

North America region has contributed 45.72% in 2022.
By technology, the NGS segment hit revenue share of around 65.13% in 2022.
By sample type, blood sample-based tests hit highest market share 67.73% in 2022.
By usage, clinical segment has held revenue share of 72.11% in 2022.
By biomaker, cell-free DNA segment has held revenue share of 48.01% in 2022.
By product, kits & consumables has held revenue share of 53.12% in 2022.
By indication, lung cancer has generated revenue share of 32.14% in 2022.
By application, screening segment has accounted revenue share of 39.11% in 2022.

The global liquid biopsy market growth is driven by rapidly growing number of deaths linked to cancer and rising burden of various types of cancer such as neck and head cancer, colorectal cancer, lungs cancer, breast cancer, and bowel cancer. According to the International Agency for Research on Cancer, the around 19.3 million new cancer cases were observed in 2020 and is expected to grow by 47% to reach 28.4 million new cases by 2040. Therefore, the rising demand for the diagnosis of cancer is driving the demand for the liquid biopsy across the globe.

The liquid biopsy offer certain advantages over the traditional diagnosis techniques like low cost, accuracy, rapid results, and early detection, which makes the liquid biopsy a popular technique among the patients. Moreover, the technological advancements and rising number of developmental strategies being adopted by the market players is influencing the market growth. For instance, the Quest Diagnostics and the Biocept, Inc. collaborated to develop an advanced NGS for the lungs cancer patient in June 2021.

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Table of Contents

Regional Snapshot

North America dominated the global liquid biopsy market in 2020. This is simply attributed to the increased healthcare expenditure and increased awareness regarding different types of cancer and advanced diagnostic technologies among the population. Moreover, the increased prevalence of cancer among the population in US has exponential contributions in the liquid biopsy market growth. According to the American Cancer Society, around 1.8 million new cancer cases were recorded in US and around 606,520 deaths were reported in 2020. Therefore, the rising cases of cancer among the US population has driven the growth of the liquid biopsy market in North America in the past few years.

Asia Pacific is expected to be the most opportunistic market in the foreseeable future. The rising government investments in the development of advanced hospitals and rising penetration of numerous diagnostic laboratories in the region is fueling the market growth. Moreover, the rising incidences of cancer and the presence of huge population is boosting the need for the development of technologically advanced healthcare units, which is spurring the demand for the liquid biopsy in Asia Pacific market.

Scope of the Liquid Biopsy Market Report

Report Highlights	Details
Market Size in 2032	USD 18.28 Billion
Growth Rate	CAGR of 14.5% From 2023 to 2032
Largest Market	North America
Fastest Growing Market	Asia Pacific
Base Year	2022
Forecast Period	2023 to 2032
Estimated Year	2018 to 2021
Regional Scope	North America Europe Asia Pacific Rest of the World

Liquid Biopsy Market Dynamics

Driver

Increasing awareness regarding the liquid biopsy

The increasing prevalence of cancer cases across the globe along with the proliferation in the diagnostic technologies has boosted the adoption of the liquid biopsy in the diagnosis of cancer. The increased awareness regarding the benefits of the liquid biopsy has fostered it demand. Liquid biopsy can efficiently detect even the rare mutations of the cancer. It provides low cost, fast and reliable diagnostic results, which is fueling the demand for the liquid biopsy across the globe.

Restraints

The lack of awareness regarding the benefits of liquid biopsy in the underdeveloped and developing markets is restricting the market growth. Moreover, low access to the healthcare facilities in the low and middle income countries due to the lack of adequate healthcare infrastructure is a major restraint for the liquid biopsy market.

Opportunities

The rising awareness regarding the non-invasive procedures among the population

The growing cases of cancer owing to the bad habits such as tobacco consumption and smoking is triggering the cancer cases to rise at a rapid rate across the globe. Moreover, the increased risk of metastatic conditions of the patient suffering from lungs cancer is boosting the adoption of the biomarker diagnosis. The increased investment in the research and development of the innovative testing techniques is fueling the demand for the non-invasive procedures among the global population.

Challenges

The unawareness regarding the actual cost of the diagnosis

Majority of the patient are unaware regarding the costs involved in the liquid biopsy. The cost is known to the stakeholders only after the reimbursement of the bill. This confusion associated with the costs and the reimbursements of the bill is a major challenge for the both the patients and the market players operating in the global liquid biopsy market.

Report Highlights

Based on the technology, the PCR is expected to be the fastest-growing segment during the forecast period. This is due to the rising adoption of the PCR technique in the diagnosis of cancer owing to its low cost benefit, rapid results, and increased efficacy and accuracy. Moreover, the applications of the PCR is growing in detection of various fungal diseases, bacterial diseases, and other genomic applications, which is expected to drive the growth of the PCR segment.
Based on the application, the cancer segment dominated the market owing to the increased prevalence of numerous types of cancer among the population and the increasing adoption of the liquid biopsy in the diagnosis. The growing burden of cancer and the increased need for its early detection has fueled the growth of this segment.
Based on the circulating biomarker, the circulating tumor DNA is estimated to be the most opportunistic segment during the forecast period. This is attributable to the enhanced efficiency of the circulating tumor DNA to detect the cancer early and also detect its mutations. Moreover, this biomarker is extremely efficient for the detection of the breast cancer and the increasing prevalence of breast cancer is fostering the growth.According to the International Agency for Research on Cancer, breast cancer has surpassed the lungs cancer as the most diagnosed type of cancer across the globe in 2020.

Some of the prominent players include

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.

Segments Covered in the Report

By Technology

NGS
PCR
FISH
Other

By Workflow

Sample Preparation
Library Preparation
Sequencing
Data Analysis

By Usage

RUO
Clinical

By Types of Sample

Blood
Urine
Saliva
CerebroSpinal Fluid

By Circulating 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
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa