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The liquid biopsy market size is forecast to increase by USD 3.7 billion at a CAGR of 25.2% between 2023 and 2028. The market is experiencing significant growth due to the increasing incidence of cancer and the rising investment in technologies such as cancer immunotherapy. However, the market faces challenges, including limited reimbursement for liquid biopsy tests and the need for standardization in testing methods. Despite these hurdles, the market is expected to grow steadily due to its potential to provide accurate and non-invasive cancer diagnosis and monitoring. This technology allows for the detection of cancer biomarkers in the blood or other bodily fluids, making it a valuable tool in personalized medicine and cancer biologics.
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The National Institutes of Health (NIH) has been at the forefront of biomedical research, driving advancements in various fields, including the diagnosis and treatment of cancer. One such area of significant progress is the use of liquid biopsies for the detection and monitoring of cancer. This non-invasive diagnostic approach analyzes biomarkers present in the blood or other bodily fluids, offering numerous benefits over traditional methods. Biomarkers are essential indicators of various health conditions, including cancer. The injection pen market, which provides portable and convenient solutions for administering medications, plays a crucial role in the delivery of cancer treatments. The market forecasting report provides a comprehensive analysis of these trends and challenges, offering insights into the market's future growth prospects.
Liquid biopsies, with their minimally invasive nature, align well with the growing trend towards patient-centric care and convenience. Cancer awareness initiatives, fueled by organizations and healthcare providers, have led to an increase in early cancer detection, contributing to a decrease in cancer deaths. The number of new cancer cases is projected to reach 1.9 million in 2022. Improved diagnostic tools, such as liquid biopsies, will be essential in addressing this growing need. Quality of life is a significant concern for cancer patients, with treatments often leading to debilitating side effects. Liquid biopsies, including breast cancer liquid biopsy, offer a less invasive alternative, enabling more frequent monitoring and personalized treatment plans.
This can lead to improved patient outcomes and an overall better quality of life. Several companies are making strides in the market, and these companies are investing in research and development to improve the accuracy and accessibility of liquid biopsy tests. In conclusion, the market is poised for growth, driven by the increasing demand for less invasive diagnostic tools, advancements in cancer research, and the need for personalized treatment plans. The use of liquid biopsies can lead to earlier cancer detection, improved patient outcomes, and overall better quality of life. Companies in this field are investing in research and development to make these tests more accessible and accurate.
The liquid biopsy market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The cancer applications segment is estimated to witness significant growth during the forecast period.The market in the US is gaining momentum due to the increasing focus on early cancer detection and improved quality of life for patients. This market is primarily driven by the identification and analysis of cancer-related biomarkers, such as circulating tumor DNA (ctDNA), in a patient's blood or other bodily fluids. The non-invasive nature of liquid biopsy makes it a more patient-friendly alternative to traditional tissue biopsies, reducing discomfort and improving the overall patient experience. Cancer awareness initiatives, such as those supported by the National Institutes of Health (NIH), are fueling the demand for non-invasive diagnostic methods like liquid biopsy.
According to the American Cancer Society, cancer is expected to cause approximately 606,520 deaths in the US in 2023. Early detection through non-invasive methods like liquid biopsy can significantly improve patient outcomes and reduce cancer-related mortality. Breast and cervical cancer screenings are common applications of liquid biopsy, as it enables the early detection of these diseases. The market for injection pens used in liquid biopsy is also expected to grow, as these devices simplify the sample collection process and make the test more accessible to patients. Overall, the market is poised for significant growth, as it offers a non-invasive, accurate, and cost-effective solution for cancer diagnosis and monitoring.
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The Cancer applications segment accounted for USD 812.70 million in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 55% to the growth of the global liquid biopsy market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In the market, North America holds a substantial share with the United States and Canada contributing significantly to this region's dominance. Key players derive a substantial portion of their revenues from this market and have headquarters in North America. Factors fueling the market expansion in this region include the rising prevalence of cancer, growing acceptance of advanced liquid biopsy tests, a large aging population, substantial investments in cancer screening, and the presence of numerous biotechnology and pharmaceutical companies driving demand for anti-cancer drug development. Liquid biopsy products, which enable the monitoring of cancer signatures in samples for analysis, are gaining popularity among reference laboratories, private laboratories, hospitals, and private practitioners in the US. The market is expected to grow at a steady pace due to the emergence of new medical technologies and increasing customized therapies.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing incidence of cancer is the key driver of liquid biopsy market growth. Cancer is a significant health concern, affecting over 80 distinct types that impact individuals worldwide. The most common types include lung, liver, colon, stomach, and breast cancers. Cancer is a leading cause of morbidity and mortality, with lung cancer being the most prevalent globally. In 2020, the European Commission reported that men accounted for approximately 54% of new cancer cases and 56% of related deaths. Advanced diagnostic tests play a crucial role in identifying and managing cancer. Developed markets have been at the forefront of adopting novel technologies, such as Next-Generation Sequencing (NGS), to detect cancer at its earliest stages.
These tests enable the identification of novel cancer biomarkers, facilitating patient stratification and personalized treatment plans. Funding and investments from both public and private organizations have been instrumental in driving the growth of the diagnostic tests market. Companies like Guardant Health are pioneering the development of innovative cancer diagnostic solutions. As the demand for early and accurate cancer diagnosis continues to rise, the market for these tests is expected to expand significantly. In conclusion, cancer's impact on health and well-being necessitates the development and adoption of advanced diagnostic tests. These tests, fueled by investments from public and private organizations, utilize advanced technologies like NGS to identify novel cancer biomarkers, enabling patient stratification and personalized treatment plans.
Increasing funding/investment for liquid biopsy is the upcoming trend in the liquid biopsy market. Liquid biopsy has gained significant traction in recent years as a valuable research tool and advanced diagnostic technology. This trend has piqued the interest of investors, leading them to fund the research and development of new liquid biopsy technologies and the commercialization of related products. Several companies have secured funding from various investors. Such investments are anticipated to fuel the expansion of the market during the forecast period.
Limited reimbursement for liquid biopsy is a key challenge affecting liquid biopsy market growth. Liquid biopsy, a novel diagnostic technology, is gaining traction in developed countries for cancer treatment monitoring. However, reimbursement coverage for this advanced technique remains limited and varies based on the type of cancer, screening procedure, and therapy selected. In the US, for instance, reimbursement for liquid biopsy tests in oncology is not guaranteed, despite FDA approval. Despite the high market potential in developing countries, adoption of the technology is still low due to economic and infrastructural challenges. The market is expected to grow significantly in the coming years, driven by technological advancements and increasing demand for personalized cancer treatment.
The liquid biopsy market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the liquid biopsy market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
A. Menarini Industrie Farmaceutiche Riunite Srl - The CELLSEARCH CTC Test is a liquid biopsy solution provided by the company. This diagnostic tool identifies and captures circulating tumor cells (CTCs) from a patient's blood sample. Liquid biopsy is a valuable technology in cancer diagnostics, enabling early detection and monitoring of cancer progression. The CTC Test offers precise identification and enumeration of CTCs, providing valuable information for treatment planning and disease management. This non-invasive approach offers several advantages over traditional biopsies, including reduced risk, improved patient comfort, and increased accessibility. With the growing importance of personalized medicine, the market is expected to witness significant growth in the coming years.
The liquid biopsy market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Liquid biopsy, a revolutionary diagnostic technique, is gaining significant traction in the global healthcare industry due to its ability to detect cancer biomarkers from a patient's blood or other bodily fluids. The NIH (National Institutes of Health) has been at the forefront of supporting research and development in this area, identifying novel cancer biomarkers and improving the accuracy of liquid biopsy tests. Cancer awareness initiatives and increasing cancer deaths have fueled the demand for minimally invasive, cost-effective, and accurate diagnostic solutions. Breast and cervical cancer screening are some of the applications where liquid biopsy is making a significant impact, enabling early diagnosis and improving patient quality of life.
CTDNA (circulating tumor DNA) in plasma is the primary focus of liquid biopsy, providing valuable information about tumor types, location, tumor vascularity, and tumor dna. Gliomas and sarcomas are among the tumor types that can be diagnosed using this technology. The developing economies, with their growing cancer prevalence and patient population, offer significant opportunities for the market growth. Medical tourism and limited reimbursement scenarios are driving the demand for assay kits and reference laboratories to provide cost-effective solutions for patients and hospitals. The NGS (next-generation sequencing) and NGS-panel tests are emerging technologies that are transforming the landscape of liquid biopsy, enabling customized therapies and patient stratification. Public and private organizations are investing heavily in this field, driving funding and innovation. Despite the promising potential, the market faces challenges such as data requirements, limited reimbursement, and regulatory approvals. NABL-accredited diagnostic tests, private laboratories, and hospitals are collaborating to address these challenges and ensure the delivery of high-quality diagnostic services.
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Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 25.2% |
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Market growth 2024-2028 |
USD 3696.4 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
19.78 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 55% |
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Key countries |
US, Canada, Germany, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
A. Menarini Industrie Farmaceutiche Riunite Srl, ANGLE Plc, Bio Rad Laboratories Inc., Bio Techne Corp., Biocept Inc., Biodesix Inc., CellMax Inc., CIRCULOGENE, Exact Sciences Corp., F. Hoffmann La Roche Ltd., Guardant Health Inc., Illumina Inc., Inivata Ltd., MDXHEALTH SA, Mesa Laboratories Inc., Myriad Genetics Inc., Novogene Co. Ltd., OncoCyte Corp., QIAGEN NV, and SAGA Diagnostics AB |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our liquid biopsy market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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