Liquid Biopsy Market (By Biomarker: Exosomes, CTC; By Application: Cancer, Reproductive Health; By Technology; By Sample Type; By Clinical Application; By End-use; By Product) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global liquid biopsy market size was estimated at around USD 5.43 billion in 2023 and it is projected to hit around USD 21.06 billion by 2033, growing at a CAGR of 14.52% from 2024 to 2033. The increasing incidence of cancer, advances in technology for cancer diagnosis, and increased need for less intrusive cancer diagnosis are all driving growth in the liquid biopsy market.

Key Pointers

• North America dominated the market with the largest market share of 51% in 2023.
• Asia Pacific region is poised to witness the fastest compound annual growth rate (CAGR) of 13.12% from 2023 to 2033.
• By Biomarker, the segment of multi-gene-parallel analysis (NGS) generated the maximum market share of 76% in 2023.
• By Biomarker, the Circulating Nucleic Acids biomarker segment held the largest revenue share of 36% in 2023.
• By Biomarker, the Exosomes/Microvesicles segment is expected to witness the fastest compound annual growth rate (CAGR) over the forecast period
• By Application, the Cancer application segment registered the maximum market share of 87% in 2023.
• By Application, the reproductive health segment is projected to experience the fastest compound annual growth rate (CAGR) of 12.85% from 2024 to 2033.
• By End-use the hospitals and laboratories end-use segment contributed the largest market share of 43% in 2023.

Liquid Biopsy Market Overview

The liquid biopsy market is experiencing significant growth and innovation, revolutionizing cancer detection and monitoring. Unlike traditional tissue biopsies, which involve invasive procedures, liquid biopsies offer a non-invasive alternative by analyzing circulating tumor cells (CTCs), cell-free DNA (cfDNA), and other biomarkers present in bodily fluids such as blood, urine, and cerebrospinal fluid.

Liquid Biopsy Market Growth

"The liquid biopsy market is propelled by several key growth factors. One of the primary drivers is the escalating incidence of cancer globally, prompting the need for non-invasive diagnostic solutions. Technological advancements in sequencing technologies, such as next-generation sequencing and digital PCR, have significantly enhanced the sensitivity and accuracy of liquid biopsy assays, further fueling market growth. Additionally, the clinical utility and adoption of liquid biopsies for real-time monitoring of disease progression, treatment response, and detection of resistance mutations have contributed to increased acceptance by healthcare providers and researchers. Furthermore, the rising demand for personalized medicine and targeted therapies has stimulated the use of liquid biopsies for identifying actionable mutations and guiding treatment decisions. These factors collectively contribute to the robust growth trajectory of the liquid biopsy market."

Liquid Biopsy Market Trends:

Growing Adoption of Non-Invasive Diagnostic Solutions:

• Increasing preference for non-invasive procedures drives the adoption of liquid biopsies over traditional tissue biopsies.
• Non-invasive nature of liquid biopsies reduces patient discomfort and enables serial monitoring of disease progression.

Advancements in Sequencing Technologies:

• Ongoing developments in next-generation sequencing (NGS) and digital PCR (dPCR) enhance the sensitivity and specificity of liquid biopsy assays.
• Improved sequencing technologies enable the detection of genetic alterations and biomarkers associated with cancer at higher levels of precision.

Expanding Clinical Applications:

• Liquid biopsies find applications beyond cancer diagnosis, including monitoring treatment response, detecting minimal residual disease, and identifying actionable mutations for targeted therapy.
• Emerging applications in prenatal screening, infectious disease detection, and transplantation monitoring broaden the market scope.

Integration of Artificial Intelligence (AI) and Machine Learning (ML):

• Integration of AI and ML algorithms enhances data analysis and interpretation of liquid biopsy results.
• AI-driven platforms facilitate the identification of disease-specific biomarkers and prediction of patient outcomes, contributing to personalized treatment strategies.

Shift towards Companion Diagnostics and Precision Medicine:

• Growing emphasis on personalized medicine and targeted therapies fuels the demand for companion diagnostics and biomarker testing.
• Liquid biopsies play a crucial role in identifying predictive and prognostic biomarkers, guiding treatment selection, and monitoring therapeutic efficacy.

Technology Insights

The segment of multi-gene-parallel analysis (NGS) dominated the market with a revenue share of 76% in 2023 and is expected to exhibit the highest growth rate throughout the forecast period. NGS technology enables the detection of various mutations responsible for tumor development and the identification of potential resistance mechanisms post-treatment originating from pre-existing clones. Continuous advancements in NGS technology have significantly reduced sequencing costs while maintaining high accuracy levels.

The Single Gene Analysis (PCR Microarrays) segment is projected to witness substantial growth during the forecast period, driven by technological advancements in PCR techniques. The introduction of Droplet Digital PCR (ddPCR) represents a notable advancement, enabling precise quantification of nucleic acids with heightened sensitivity and accuracy. This PCR technology serves as a rapid and precise tool for detecting and monitoring various cancer types.

Biomarker Insights

In 2023, the Circulating Nucleic Acids biomarker segment held the largest market share, accounting for 36%, mainly due to the extensive applications of circulating tumor DNA (ctDNA) in liquid biopsies. Translational cancer researchers are increasingly identifying ctDNA from tumors using liquid biopsy techniques. The discovery of ctDNA presents promising prospects for future cancer diagnosis applications by serving as a potential biomarker. It has been proposed as an alternative source for molecular profiling of tumor DNA in cancer patients, offering a less invasive approach compared to traditional methods.

The Exosomes/Microvesicles segment is expected to witness the fastest compound annual growth rate (CAGR) over the forecast period. Exosomes offer significant advantages in liquid biopsy applications. They are found in various body fluids, including plasma, cerebrospinal fluid, and urine, and exhibit high stability due to their encapsulation by lipid bilayers. Exosomes play a crucial role as mediators between cells during cancer progression and metastasis, forming a complex signaling pathway network between cancer cells and the tumor microenvironment. This interaction is a key factor in cancer progression across all stages.

Application Insights

In 2023, the Cancer application segment dominated the overall market, capturing a revenue share of 87%. This dominance can be attributed to the increasing adoption of liquid biopsy for cancer detection, driven by the growing global prevalence of cancer. Liquid biopsy technology has emerged as one of the most rapidly evolving diagnostic technologies, experiencing significant growth in clinical applications in recent years. It serves as a promising precision oncology tool, enabling longitudinal monitoring and less invasive molecular diagnostics for therapeutic purposes.

The Reproductive health segment is projected to experience the fastest compound annual growth rate (CAGR) of 12.85% over the forecast period, fueled by promising research and development (R&D) efforts in liquid biopsy for the treatment and maintenance of reproductive health. This segment is expected to witness profitable growth throughout the projection period, further supported by alliances and partnerships among industry players in reproductive health. For example, in September 2021, Bionano Genomics and NuProbe collaborated on reproductive health and oncology liquid biopsy testing, offering the opportunity to identify variations that traditional next-generation sequencing (NGS) methods may not detect.

End-use Insights

In 2023, the hospitals and laboratories end-use segment emerged as the dominant force in the market, accounting for a revenue share of 43%. Hospitals are preferred healthcare facilities due to the availability of comprehensive services under one roof. The advantage of hospitals in conducting cancer diagnosis lies in their ability to deliver test results promptly, even in emergency situations. Liquid biopsy has revolutionized cancer diagnosis by providing doctors with highly precise results in a shorter turnaround time, thereby reducing treatment delays. Cancer patients undergoing treatment in hospitals benefit from routine monitoring to assess resistance to treatment.

The specialty clinics segment is poised to exhibit the fastest compound annual growth rate (CAGR) of 12.25% over the forecast period. This growth can be attributed to increased awareness of personalized medicine, advancements in technology, and a rising demand for cost-effective healthcare services. Government initiatives aimed at providing various facilities, including reimbursement for diagnostic tests, are expected to further drive market growth. Additionally, healthcare institutions are collaborating with laboratories to offer a diverse range of clinical tests, such as microbiology testing, thereby expanding the scope of services provided by specialty clinics.

Regional Insights

In 2023, North America emerged as the dominant region in the market, commanding a revenue share of 51%. This dominance is attributed to several factors including the high prevalence of cancer, rapid technological advancements, and growing government initiatives in the region. The United States, in particular, leads the market due to substantial investments and the presence of numerous biotechnology companies focused on developing advanced diagnostic tests. Organizations such as the American Society of Clinical Oncology (ASCO) are actively supporting the adoption of liquid biopsy techniques, which is expected to further drive revenue growth in this market.

The Asia Pacific region is poised to witness the fastest compound annual growth rate (CAGR) of 13.12% over the forecast period, driven by various factors including improving healthcare reforms. Other contributors to market growth in the region include a growing population, advancements in healthcare infrastructure, and the entry of new market players. Asia Pacific has a significant population and experiences a high prevalence of cancer, with an estimated 10.5 million new cases reported in the region in 2022 according to Global Cancer Statistics.

Liquid Biopsy Market Key Companies

• ANGLE plc
• Oncimmune Holdings PLC
• Guardant Health
• Myriad Genetics, Inc.
• Biocept, Inc.
• Lucence Health Inc.
• Freenome Holdings, Inc.
• F. Hoffmann-La Roche Ltd.
• QIAGEN
• Illumina, Inc.
• Thermo Fisher Scientific, Inc.
• Epigenomics AG

Liquid Biopsy Market Segmentations:

By Sample Type

• Blood Sample
• Others

By Biomarker

• Circulating Tumor Cells (CTCs)
• Circulating Nucleic Acids
• Exosomes/ Microvesicles
• Circulating Proteins
• Technology Outlook (Revenue, USD Million, 2018 - 2030)
• Multi-gene-parallel Analysis (NGS)
• Single Gene Analysis (PCR Microarrays)

By Application

• Cancer
• Reproductive Health
  • Lung Cancer
  • Prostate Cancer
  • Breast Cancer
  • Colorectal Cancer
  • Leukemia
  • Gastrointestinal Cancer
  • Others
• Others

By End-use

• Hospitals and Laboratories
• Specialty Clinics
• Academic and Research Centers
• Others

By Clinical Application

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

By Product

• Instruments
• Consumables Kits and Reagents
• Software and Services

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa