According to a recent report by Growth Plus Reports, the global liquid biopsy market was valued at US$ 8.20 billion in 2021 and is expected to surpass US$ 26.24 billion by 2030, at a revenue CAGR of 13.8%. The report analyzes top winning strategies, drivers, opportunities, competitive landscape, market trends, market size, statistics & estimations, and major investment pockets.
Key Takeaways:
- The rising prevalence of cancer will provide plenty of growth opportunities for the liquid biopsy market.
- North America will dominate the global liquid biopsy market.
- A favorable regulatory environment will fuel the growth of the liquid biopsy market.
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Liquid Biopsy Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 8.20 billion |
| Revenue forecast in 2031 | US$ 26.24 billion |
| Growth Rate | CAGR of 13.8% from 2023 to 2031 |
| Base year for estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments covered | Technology, Biomarker, Application, End User, and Region |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers
The growth in the prevalence of cancer is driving the revenue growth of the global liquid biopsy market. Furthermore, the growing need for non-invasive and more accurate cancer detection and monitoring diagnostic tools contributes to market revenue growth. The development of high-throughput sequencing technologies such as next-generation sequencing (NGS), new biomarkers, and analytical platforms emerge, increasing investment from Governments and private organizations in the research and development of liquid biopsy technologies, and a favorable regulatory environment will further support the market growth.
Market Segmentation
Growth Plus Reports has analyzed the global liquid biopsy market from five perspectives: Technology, Biomarker, Application, End User, and Region.
Technology Segmentation: Based on the technology, the global liquid biopsy market is segmented into multi-gene-parallel analysis using NGS and single gene analysis using PCR Microarrays. The multi-gene-parallel analysis using the NGS segment dominates the market because it can uncover a variety of mutations that might be involved in the development of cancer as well as potential resistance mechanisms that might have developed from pre-existing clones after therapy.
Biomarker Segmentation: Based on the biomarker, the global liquid biopsy market is segmented into circulating tumor cells (CTCs), circulating tumor DNA, extracellular vesicles, and others. The circulating tumor cells (CTCs) segment dominates the market with the largest revenue share because liquid biopsy is thought to be the most accurate way to find them.
Application Segmentation: Based on the application, the global liquid biopsy market is segmented into cancerous and non-cancerous diseases. The cancerous diseases segment accounts for the largest revenue share because of the rising use of liquid biopsy techniques to diagnose different types of cancer.
End-User: Based on the end user, the global liquid biopsy market is segmented into hospitals, diagnostic laboratories, and academic and research institutes. The hospital segment accounts for the largest revenue share because hospitals and cancer treatment centers frequently use a liquid biopsy to monitor patients’ response to treatment, detect cancer recurrence, and tailor treatment plans.
Regional Growth Dynamics
Based on the region, the global liquid biopsy market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the global liquid biopsy market due to increased investments in R&D, the existence of numerous biotechnology companies, and increased government grants and investments in the development of liquid biopsy tests.
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Competitive Landscape
The major players operating in the global liquid biopsy market are:
- Bio-Rad Laboratories
- F. Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific, Inc.
- Qiagen N.V.
- Biocept Inc.
- Johnson & Johnson
- MDxHealth SA
- Laboratory Corporation of America Holdings
- Illumina Inc.
- Guardant Health, Inc.
- Oncimmune
- Epigenomics AG
The liquid biopsy market is slightly competitive, with few companies involved. Key companies operating in the market are using competitive tactics such as new product launches and exploring new markets. Major companies are aggressively acquiring other companies to strengthen their global market positions.
Recent developments:
- REVEAL GENOMICS introduced a novel liquid biopsy method based on biomarkers for patients with advanced cancer in March 2023 as a new addition to their pipeline.
- According to Foundation Medicine, Inc., the FDA authorized FoundationOne®Liquid CDx as a companion diagnostic to detect people with ROS1-positive non-small cell lung cancer (NSCLC) or those with NTRK fusion-positive solid tumors in January 2023.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL LIQUID BIOPSY MARKET – ANALYSIS & FORECAST, BY TECHNOLOGY
- Multi-Gene-Parallel Analysis
- Single Gene Analysis
- GLOBAL LIQUID BIOPSY MARKET – ANALYSIS & FORECAST, BY BIOMARKER
- Circulating Tumor Cells (CTC’s)
- Circulating Tumor DNA
- Extracellular Vesicles
- Others
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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