The liquid biopsy market size was valued at USD 3.17 billion in 2021 and is projected to grow from USD 3.81 Billion in 2022 to USD 15.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.9% during the forecast period (2024 - 2032). Surging demand for advanced diagnosing equipment coupled with the rising number of research laboratories in the developing economies are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increase in the funding by the federal government is set to drive the market growth rate. Growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Also, high return on investments assured by the research activities will also work in the favor of the market. Initiatives by the government to spread awareness especially in the developing economies, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing investment for the development of advanced medical products and devices and increase in demand for non-invasive surgical procedures, positively enhanced the market CAGR of liquid biopsy across the globe in the recent years. There are some other type of biopsies like kidney biopsy, needle biopsy and liver biopsy
Further, in the past decade, governments in various countries and health organizations have undertaken several initiatives to spread awareness about cancer. For instance, the WHO's National Cancer Control program is a public health program that aims to reduce the number of cancer deaths and improve the quality of life of cancer patients. Similarly, the National Breast and Cervical Cancer Early Detection Program (NBCCEDP), initiated by the US Centers for Diseases and Prevention (CDC) in 1991, provides breast cancer screening and diagnosis for uninsured and low-income patients in the US every year. In 2020, this program provided breast cancer screening and diagnostic services to 260,143 women. This program also provided cervical cancer screening and diagnostic services to 116,562 women in the same year.
Additionally, 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 growth of the liquid biopsy market revenue.
However, rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted by pharmaceutical and biopharmaceutical countries for the integration of advanced technologies in the healthcare facilities is also bolstering the market growth rate.
The market segments of liquid biopsy, based on biomarker types, includes circulating tumor cells, circulating tumor DNA, extracellular vesicles, and other biomarker. The circulating tumor DNA segment held the majority share in 2021 to the market revenue of liquid biopsy. Over the recent years, ctDNA-based liquid biopsy analysis has created new opportunities in molecular diagnosis and monitoring of cancer. It is capable of precisely determining tumor progression, prognosis, and assisting in targeted therapy. However, other biomarker is the fastest-growing category due to rise in the adoption of exosomes as a liquid biopsy in oncology clinical diagnosis coupled with the introduction of novel products drives the segment growth.
September 2021: miR Scientific presented data for its miR Sentinel Prostate Cancer Test at the American Urological Association’s (AUA) 2021 Annual Meeting. This exosome-based liquid biopsy test uses a single urine sample to detect prostate cancer with an accuracy of 90%.
The liquid biopsy market data has been bifurcated by application into cancer therapeutic application, reproductive health, and other therapeutic. The cancer therapeutic segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The use of liquid biopsy products has been particularly significant in understanding cancer signatures and developing customized therapies. Liquid biopsy is one of the many emerging technologies developed to address the growing cancer prevalence. However, reproductive health is the fastest-growing category due to the increased adoption of the liquid biopsy techniques for the
Figure 2: Liquid Biopsy Market, by Application, 2021 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Based on sample, the liquid biopsy industry has been segmented into blood sample, urine sample, and other. Blood sample held the largest segment share in 2021. A blood-based test is non-invasive, has no risk, and is painless. In addition, it reduces the cost and time taken for diagnosis. CTCs, cfDNAs, and exosomes, as well as microvesicles, can be detected in the blood sample, thus increasing the adoption of blood-based liquid biopsy. However, urine sample is the fastest-growing category as liquid biopsy test uses a single urine sample to detect various type of cancer.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America liquid biopsy market accounted for USD 1.39 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is owing to greater investments and the presence of a number of biotechnology companies developing the tests. Various organizations, such as the American Society of Clinical Oncology (ASCO), aid the implementation of liquid handling system. Moreover, US liquid biopsy market held the largest market share, and the Canada liquid biopsy market was the fastest growing market in the North America region
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: LIQUID BIOPSY MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe liquid biopsy market accounts for the second-largest market share due to increasing number of research studies for the discovery & development of novel cancer biomarkers, presence of many pharmaceutical companies. Further, the Germany market of liquid biopsy held the largest market share, and the UK market of liquid biopsy was the fastest growing market in the European region
The Asia-Pacific liquid biopsy market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to rising investment from key players in the growth of the advanced devices, growing number of processes pertaining to drug development, stringent regulatory scenario in the pharmaceutical industry and rising number of research activities in this region. Moreover, China market of liquid biopsy held the largest market share, and the India market of liquid biopsy was the fastest growing market in the Asia-Pacific region.
Liquid Biopsy Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the liquid biopsy market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the liquid biopsy industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the liquid biopsy industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. The liquid biopsy market major player such as F. Hoffmann-La Roche Ltd. (Switzerland), Myriad Genetics, Inc. (US), QIAGEN (Netherlands), and others are working to expand the market demand by investing in research and development activities.
BioMark Diagnostics Inc. operates as an oncology-focused company. The Company develops and owns multiple intellectual properties in detection and quantitation of metabolites. BioMark Diagnostics serves patients in Canada. In June 2021, BioMark Diagnostic Solutions, Inc. received USD 825,000 funding to develop BioMark’s liquid biopsy assay for screening lung cancer. A major part of the funding is being issued by Consortium for Industrial Research and Innovation in Medical Technology and Spark grants from the Canadian Cancer Society, Brain Canada Foundation, and Canadian Institutes of Health Research - Institute of Cancer Research.
Also, Thermo Fisher Scientific, Inc. manufactures scientific instruments, consumables, and chemicals. The Company offers analytical instruments, laboratory equipment, software, services, consumables, reagents, chemicals, and supplies to pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions, and government agencies. In August 2022, Thermo Fisher Scientific Inc. (US) launched the first NGS-based tests to support both DNA and RNA input. The lon Torrent Oncomine Myeloid MRD Assays (RUO) provide comprehensive and highly sensitive myeloid measurable residual (MDR) assessments from blood and bone marrow samples.
Key Companies in the market of liquid biopsy includes
Liquid Biopsy Industry Developments
May 2020: BRACAnalysis CDx test by Myriad Genetics was approved by FDA for use as a companion diagnostic by clinicians to detect metastatic castration-resistant prostate cancer in men.
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 3.17 billion |
| Market Size 2022 | USD 3.81 billion |
| Market Size 2032 | USD 15.2 billion |
| Compound Annual Growth Rate (CAGR) | 18.9% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019 & 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Biomarker Types, Application, Sample and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Guardant Health, Inc. (US), Trovagene, Inc. (California), RainDance Technologies, Inc. (US), Agena Bioscience Inc. (California), Admera Health (US), Biocept, Inc. KGaA (US), Circulogene Theranostics (Alabama), Inivata Ltd (UK), SAGA Diagnostics AB (Sweden), and Exosome Diagnostics (Massachusetts) |
| Key Market Opportunities | Government investments on healthcare infrastructure |
| Key Market Dynamics | Rise in research and developments investment for liquid biopsy Rising technological advancements for liquid biopsy Rise in cases of cancer and other diseases |
Liquid Biopsy Market Highlights:
Frequently Asked Questions (FAQ) :
The liquid biopsy market size was valued at USD 3.17 Billion in 2021.
The market is projected to grow at a CAGR of 18.9% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are Guardant Health, Inc. (US), Trovagene, Inc. (California), RainDance Technologies, Inc. (US), Agena Bioscience Inc. (California), Admera Health (US), Biocept, Inc. KGaA (US), and Circulogene Theranostics (Alabama).
The circulating tumor DNA category dominated the market in 2021.
The cancer therapeutic application had the largest share in the market.
The blood sample category dominated the market in 2021.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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