Liquid Biopsy Market by Technology (NGS, PCR), Application (Cancer (Lung, Breast), Non-Cancer), Sample Type (Blood), Product (Assay Kits, Instruments), Circulating Biomarkers (CTC, ctDNA), End User (Reference Lab, Hospitals): Global Opportunity Analysis and Industry Forecast, 2023-2031    [ Updated Version Available ]

Introduction:

The liquid biopsy market has experienced significant growth in recent years, fueled by advancements in molecular diagnostics and the rising demand for non-invasive cancer screening methods.

Liquid biopsy refers to the analysis of circulating biomarkers, such as circulating tumor cells (CTCs), cell-free DNA (cfDNA), exosomes, and circulating RNA, extracted from biofluids like blood, urine, or cerebrospinal fluid. This approach offers several advantages over traditional tissue biopsy, including minimal invasiveness, real-time monitoring, and the potential for early cancer detection.

Market Dynamics:

The liquid biopsy market continues to experience significant growth, driven by increasing cancer prevalence, technological advancements, favorable reimbursement policies, and growing investments. However, challenges related to sensitivity and specificity, regulatory hurdles, and high costs need to be addressed. With ongoing advancements in genomic profiling and expanding applications, liquid biopsy holds immense potential for revolutionizing cancer diagnosis and monitoring, as well as other areas of healthcare.

Drivers:

Several key drivers are fueling the expansion of the liquid biopsy market:

• Non-Invasive Cancer Screening: Liquid biopsies offer a non-invasive alternative to traditional tissue biopsies, minimizing patient discomfort and associated risks. This advantage has contributed to increased adoption, especially for patients who are ineligible for surgical procedures or require regular monitoring.
• Early Cancer Detection and Monitoring: Liquid biopsy enables the detection of cancer-related genetic alterations and biomarkers at early stages, facilitating timely intervention and personalized treatment strategies. It allows for monitoring treatment response, disease progression, and minimal residual disease detection.
• Precision Medicine: Liquid biopsy plays a vital role in guiding the selection of targeted therapies and monitoring treatment efficacy. The ability to analyze the genetic profile of tumors in real-time enhances the precision and effectiveness of treatment regimens.

Restraints:

Despite the rapid growth and potential of liquid biopsy, certain factors may impede market expansion:

• Limited Sensitivity and Specificity: Liquid biopsy techniques still face challenges in achieving the sensitivity and specificity comparable to traditional tissue biopsy methods. False-positive and false-negative results may occur, impacting diagnostic accuracy.
• Regulatory Hurdles: Regulatory frameworks governing liquid biopsy tests are evolving, and obtaining necessary approvals can be time-consuming and expensive. Stringent regulations may hinder market growth, particularly for newer and innovative liquid biopsy technologies.
• High Costs: Liquid biopsy tests can be relatively expensive compared to conventional diagnostic methods. The cost factor may limit the adoption of liquid biopsy, particularly in resource-constrained settings.

Market Segmentations:

By Technology

• Multi-gene Parallel Analysis using NGS
• Single-gene Analysis using PCR Microarrays

By Circulating Biomarkers

• Circulating Tumor Cells
• Circulating Tumor DNA (ctDNA)
• Cell-free DNA (cfDNA)
• Extracellular Vesicles (EVS)
• Other Circulating Biomarkers

By Product & Service

• Assay Kits
• Instruments
• Services

By Application

• Cancer Application
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Prostate Cancer
• Melanoma
• Other Cancers
• Non-cancer Applications
• Non-invasive Prenatal Testing (NIPT) 
• Organ Transplantation
• Infectious Disease Testing

By Clinical Application

• Early Cancer Screening
• Therapy Selection
• Treatment Monitoring
• Recurrence Monitoring

By End User

• Reference Laboratories
• Hospitals and Physician Laboratories
• Academic & Research Centers
• Other End Users

Region Outlook (Revenue, USD Million, 2019 - 2031)

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Italy
• Spain

Asia Pacific

• China
• India
• Japan
• Australia
• South Korea

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa (MEA)

• UAE
• Saudi Arabia
• South Africa

Competitive Landscape:

The liquid biopsy market is highly competitive, with several prominent players operating at both global and regional levels.

Key Players:

Freenome Holdings, Myriad Genetics, Guardant Health, Epigenomics AG, Oncimmune, Thermo Fisher Scientific, Lucence Health Inc., QIAGEN, Biocept, ANGLE plc, Illumina, F. Hoffmann-La Roche Ltd. are provided in this report.

Companies are focusing on product development, strategic collaborations, and mergers and acquisitions to gain a competitive edge and expand their market share.