Liquid Biopsy Market Size to Worth USD 28.84 Billion by 2033 | Straits Research
New York, United States, Nov. 21, 2024 (GLOBE NEWSWIRE) -- "Liquid biopsy" isolates and detects circulating nucleic acids (DNA or RNA), exosomes, and circulating tumor cells to diagnose primary tumors or stage metastatic lesions in tissues (CTCs). Liquid biopsy uses blood samples to examine biomarkers shed by tumors, such as cancer cells or DNA fragments. This study examines liquid biopsy products and services. Increased cancer cases and patient preference for minimally invasive therapies will drive market growth. The rise in healthcare spending in developing countries like India and China and the use of liquid biopsy tests to treat rare cancers should boost the market.
Liquid biopsy tests are a simple and non-invasive way to obtain tumor genomic information. These tests also help detect cancer recurrence earlier and characterize tumor dynamics. These tests can make cancer treatment more effective and safer by characterizing new lesions, implementing therapeutic targets, and predicting treatment outcomes.
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Market Dynamics
The increasing Need for Non-Invasive Procedures and Growing Liquid Biopsy Technology Drives the Global Market
The liquid biopsy is considered a minimally invasive procedure because, unlike other methods of tissue biopsy, such as the solid traditional tissue biopsy, it only necessitates a small amount of blood sample. Liquid biopsy testing has grown in acceptance in clinical settings due to its many advantages, which have assisted in the market's expansion.
The immeasurable benefits of liquid biopsy testing over more conventional diagnostic approaches have caused it to transform cancer diagnosis completely. This method of diagnosing cancer is not only economical but also risk-free and requires only a small amount of invasive surgery. The radiographic and tomographic testing costs are significantly higher than those associated with liquid biopsy.
Additionally, a liquid biopsy may be an alternative for patients who are not eligible for tissue biopsy. Due to these benefits, liquid biopsy testing is quickly becoming one of the most popular methods for diagnosing cancer. As a result, it is anticipated that these technological advancements will propel the market's growth in the not-too-distant future.
Growing Use of liquid Biopsy for the Treating Rare Cancer Creates Tremendous Opportunities
Cancers with a prevalence rate of fewer than five cases per 10,000 people are typically classified as rare diseases. Rare cancers include adenocarcinomas, basal cell carcinomas, transitional cell carcinomas, angiosarcomas, fibrosarcomas, and several others. Early detection and diagnosis of cancer may increase a patient's chance of long-term survival compared to cancer detection after the onset of symptoms. Except for liquid biopsy, effective pre-screening and early detection tests for many rare cancers do not currently exist. In addition, there has been a rise in awareness of rare cancers in developed nations, which is expected to create lucrative opportunities for liquid biopsy and open up new avenues for the market.
Regional Analysis
North America is the highest revenue contributor to the global liquid biopsy market, growing at a CAGR of 20.6% during the forecast period. Factors such as the high prevalence rate of cancer, wide adoption of novel liquid-biopsy tests, availability of advanced healthcare infrastructure, and high healthcare expenditure are driving the growth of North America's liquid biopsy market. The market share held by Europe is the second largest in the world. Asia-Pacific liquid biopsy market is anticipated to grow partly due to a large population base, rising disposable incomes, an increase in cancer incidents, and advancements in R&D, innovation, and healthcare infrastructure.
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Key Highlights
- The global liquid biopsy market size was valued at USD 10.99 billion in 2024 and is projected to reach from USD 12.23 billion in 2025 to USD 28.84 billion by 2033, growing at a CAGR of 11.32% during the forecast period (2025-2033).
- Based on product type, the global liquid biopsy market is divided into kits and reagents, platforms and instruments, and services. The kits and reagents segment is the highest contributor to the global liquid biopsy market, growing at a CAGR of 21.2% during the forecast period.
- Based on circulating biomarkers, the global liquid biopsy market is divided into circulating tumor cells, circulating tumor DNA, and extracellular vesicles. The circulating tumor cell segment is the highest contributor to the market, growing at a CAGR of 21% during the forecast period.
- Based on cancer type, the global liquid biopsy market is divided into lung cancer, breast cancer, colorectal cancer, prostate cancer, and liver cancer. The lung cancer segment is the highest contributor to the market, growing at a CAGR of 20.4% during the forecast period.
- Based on end-user, the global market for liquid biopsy is divided into hospitals and laboratories, as well as government and academic research The hospitals and laboratories segment is the highest contributor to the market, growing at a CAGR of 21.2% during the forecast period.
- North America is the highest revenue contributor to the global liquid biopsy market, growing at a CAGR of 20.6% during the forecast period.
Competitive Players
- Bio-Rad Laboratories Inc.
- Biocept Inc.
- Guardant Health Inc.
- Illumina Inc.
- Hoffmann-La Roche Ltd. (Foundation Medicine Inc.)
- Johnson & Johnson
- Laboratory Corporation of America Holdings
- Mdxhealth SA
- Qiagen N.V.
- Thermo Fisher Scientific Inc.
Recent Developments
- In February 2023, Element Biosciences' AVITI System and Bio-SEQuoiaTM Rad's Express and SEQuoiaTM Complete Stranded RNA Library Prep Kits work together to provide a seamless RNA sequencing workflow.
- In February 2023, The Guardant360® CDx blood test from Guardant Health will be covered by UnitedHealthcare as a companion diagnostic for advanced lung and breast cancer.
- In January 2023, Janssen declared that the primary endpoint of the Phase 3 CARTITUDE-4 Study of CARVYKTI® (cilta-cel) for treating patients with relapsed and unresponsive multiple myeloma had been met.
Segmentation
- By Product and Services
- Kits and Reagents
- Platforms and Instruments
- Services
- By Circulating Biomarker
- Circulating Tumor Cells
- Extracellular Vesicles
- Circulating Tumor DNA [ctDNA]
- By Cancer Type
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Liver Cancer
- By End-User
- Hospitals and Laboratories
- Government and Academic Research Centers
- By Region
- North America
- Europe
- Asia Pacific
- Middle East And Africa
- Latin America
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