The global liquid biopsy market refers to the diagnostic and monitoring sector focused on detecting biomarkers in bodily fluids, such as blood or urine, for the assessment of various diseases, primarily cancer. This non-invasive approach offers advantages over traditional tissue biopsies, providing real-time information on disease status and treatment response. Liquid biopsies are crucial in identifying circulating tumor DNA, RNA, and proteins, enabling early cancer detection, monitoring disease progression, and guiding personalized treatment strategies.
Data Bridge Market Research analyses that the Global Liquid Biopsy Market is growing with a CAGR of 16.8% in the forecast period of 2024 to 2031 and is expected to reach USD 7,429.32 million by 2031 from USD 2,309.91 million in 2023.
"Growing demand for non-invasive liquid biopsy technique drives the market growth"
The surging demand for non-invasive liquid biopsy arises from its revolutionary role in cancer diagnostics and treatment monitoring. In the last decade, invasive cancer diagnostic methods have been supplanted by non-invasive alternatives similar to liquid biopsy. This technique involves extracting tumor-related components, such as circulating tumor cells and DNA from bodily fluids, followed by genomic and proteomic analysis. The increasing preference for this non-invasive approach underscores its pivotal role in advancing cancer detection and treatment, propelling substantial growth in the market.
What restraints the growth of the global liquid biopsy market?
"Lack of skilled professionals performing liquid biopsy hamper the market growth"
The shortage of skilled professionals performing liquid biopsy tests poses a significant challenge to the market. Given the novelty and rapid evolution of the field, conducting complex molecular techniques and analyzing genetic mutations require specialized expertise. The scarcity of trained professionals hampers the widespread adoption and efficient implementation of liquid biopsy, potentially impeding its growth. This gap in the skilled workforce leads to delays in test processing and misinterpretations and hinders the full realization of the technique's diagnostic potential.
Segmentation: Global Liquid Biopsy Market
The global liquid biopsy market is segmented on the basis of product, biomarker type, sample type, analytical type, application type, clinical application, technology, end user, and distribution channel.
- On the basis of product, the global liquid biopsy market is segmented into instruments, consumables and accessories, and services and software
- On the basis of biomarker type, the global liquid biopsy market is segmented into circulating tumor cells (CTCS), circulating cell-free DNA (CFDNA), cell-free RNA, extracellular vesicles, exosomes, and others
- On the basis of sample type, the global liquid biopsy market is segmented into blood sample based, urine sample based, saliva and other tissue fluid sample-based, fecal sample based, and others
- On the basis of analytical type, the global liquid biopsy market is segmented into molecular, proteomics, and histology/imaging
- On the basis of application type, the global liquid biopsy market is segmented into cancer applications and non-cancer applications
- On the basis of clinical application, the global liquid biopsy market is segmented into routine screening, patient work-up, therapy selection, treatment monitoring, recurrence monitoring, and others
- On the basis of technology, the global liquid biopsy market is segmented into multi-gene parallel analysis and single-gene analysis
- On the basis of end user, the global liquid biopsy market is segmented into hospitals, reference laboratories, diagnostic centers, research centers academic institutes, and others
- On the basis of distribution channel, the global liquid biopsy market is segmented into direct tender, third party distributor, and others
Regional Insights: Asia-Pacific dominates the Global Liquid Biopsy Market
Asia-Pacific dominates the global liquid biopsy market, with China leading the region through mass production of liquid biopsy products. The surge in demand from emerging markets and expansive growth strategies contribute to China's prominence. The region's pivotal role underscores its influence on the market's trajectory. It is driven by substantial product output and escalating demand for liquid biopsy solutions, positioning Asia-Pacific as a key player in the global landscape.
Europe dominates the global liquid biopsy market, propelled by Germany's strong presence of key industry players. The region leads in adopting liquid biopsy technologies, driven by advanced healthcare infrastructure and a robust network of renowned companies. Germany, in particular, plays a pivotal role, contributing significantly to the region's dominance in this rapidly evolving diagnostic and monitoring landscape.
North America is expected to dominate the global liquid biopsy market, with the U.S. playing a pivotal role. The region's prominence is attributed to a high prevalence of chronic conditions and a growing geriatric population requiring robust nurse calling systems support. Additionally, the increased healthcare expenditure further enhances the market's growth prospects in the U.S., reflecting the region's leadership in advancing and adopting liquid biopsy technologies for improved diagnosis and patient care.
Recent Developments: Global Liquid Biopsy Market
- In January 2022, QIAGEN unveiled the Biotech Grants program winners, showcasing its dedication to fostering partnerships with biotech and pharma firms, reinforcing its commitment to their success and market advancement. This initiative significantly contributed to QIAGEN's revenue growth during this period
- In January 2022, Exact Sciences Corporation disclosed the acquisition of Prevention Genetics, a genetic testing laboratory. This strategic move enhances Exact Sciences' advanced cancer diagnostics portfolio and facilitates its entry into the hereditary cancer testing (HCT) domain, reinforcing the company's position in genetic testing and precision medicine
To know more about the study, visit https://www.databridgemarketresearch.com/reports/global-liquid-biopsy-market
The Prominent Key Players Operating in the Global Liquid Biopsy Market Include:
- Thermo Fisher Scientific Inc. (U.S.)
- Illumina, Inc. (U.S.)
- BIOCEPT, INC. (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Exact Sciences Corporation (U.S.)
- Menarini Silicon Biosystems (Italy)
- Epic Sciences (U.S.)
- NeoGenomics Laboratories (U.S.)
- mdxhealth (Belgium)
- F. Hoffmann-La Roche Ltd (Switzerland)
- QIAGEN (Germany)
- Oncocyte Corporation (U.S.)
- Johnson & Johnson Services, Inc. (U.S.)
- PathAI (U.S.)
- Fluxion Biosciences Inc. (U.S.)
- Guardant Health (U.S.)
- Laboratory Corporation of America Holdings (U.S.)
- ANGLE plc (U.K.)
- Natera, Inc. (U.S.)
- Sysmex Inostics Inc. (Subsidiary of Sysmex Corporation) (U.S.)
- STRECK (U.S.)
- Predicine (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global liquid biopsy market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Liquid Biopsy Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
