According to analysts at Vantage Market Research, the Global Liquid Biopsy Market size is worth USD 5.64 Billion in 2023 and is projected to achieve USD 15.75 Billion by 2032, growing at a CAGR (Compound Annual Growth Rate) of 12.09% from 2024 to 2032. The Liquid Biopsy Market is experiencing rapid growth driven by its non-invasive nature and the increasing demand for early cancer detection and personalized medicine.

Industry Overview

The liquid biopsy market is driven by several key factors, including the rising prevalence of cancer worldwide, which necessitates early and accurate diagnostic tools for better patient outcomes. According to WHO, approximately 16.3 million cancer related deaths are likely to occur by 2040. Among various cancer indications, breast cancer is the most common type of cancer worldwide, followed by lung cancer, colorectal cancer, and prostate cancer. According to the SEER statistics, nearly 18% women are expected to be diagnosed with breast cancer at some point during their lifetime, with an estimated 297,790 new cases in 2023. Technological advancements in next-generation sequencing (NGS) and other molecular diagnostic techniques have significantly enhanced the sensitivity and specificity of liquid biopsy tests, making them a preferred choice over traditional tissue biopsies. 

North America led the market with market share of 46.2% due to high adoption of innovative diagnostic technologies, and substantial investments in R&D. Cancer is the leading cause of death in Canada and the second-leading cause of death in the USA. For instance, according to the International Agency for Research on Cancer, the most prevalent types of cancer include lungs cancer, breast cancer, prostate cancer, and colorectal cancer. Cancer and other infectious diseases may occur as a result of biological and environmental risk factors, including smoking, air pollution, and tobacco use. Many cancer research institutions are aggressively using cutting-edge tactics and patient-centered approaches for early cancer diagnosis and therapy in order to meet the rising cancer burden.

Key Takeaway from the Report

• Assay Kits emerged as the market leader in 2023, commanding a 52.5% market sharedue to their essential role in facilitating the accurate detection and analysis of cancer biomarkers from minimal blood sample
• Cell-free DNA (cfDNA) emerged as the leading segment in the market in 2023, capturing a notable 46.5% market share, underscoring its pivotal role within the industry
• In 2023, Multi-Gene Parallel Analysis using NGS claimed the largest market share at 76.2% within the market due to its capability to simultaneously analyze multiple genes with high accuracy and efficiency
• Cancer Applications dominated the market with 85.1% because of their critical role in oncology diagnostics and management
• Blood sample segment dominated in 2023 with market share of 68.1%
• Hospitals & Physician Laboratories dominated with the market share of 43.1% in 2023
• North America contributed 46.2% of the revenue share due to the advanced healthcare infrastructure, high adoption rates of innovative diagnostic technologies, and substantial investments in R&D
• The Asia Pacific region is expected to grow at significant CAGR projected throughout the forecast period

Top Companies

• Bio-Rad Laboratories
• Biocept Inc.
• Guardant Health
• Illumina Inc.
• F. Hoffmann-La Roche Ltd.
• Johnson & Johnson
• Laboratory Corporation of America Holdings
• MDxHealth SA
• QIAGEN N.V.
• Thermo Fisher Scientific Inc.

Latest News

Twist Bioscience Corporation Introduces cDNA Library Preparation Kit for Liquid Biopsy Research

• In February 2024, Twist Bioscience Corporation introduced a cDNA library preparation kit to support liquid biopsy research.

Thermo Fisher Scientific Launches dPCR Liquid Biopsy Assays for Applied Biosystems Absolute Q dPCR System

• In November 2022, Thermo Fisher Scientific released a slew of dPCR liquid biopsy assays for their Applied Biosystems Absolute Q dPCR system and a custom design tool to help with cancer research. The business announced the availability of more than 50 Absolute Q liquid biopsy Assays for use on the fully integrated digital PCR system, which is meant to produce results in 90 minutes with minimal hands-on time.

Guardant Health, Inc. Begins Blood Sample-Based Cancer Testing Services in Europe at VHIO in Barcelona

• In May 2022, Guardant Health, Inc. announced that blood sample-based cancer testing services in Europe are operational at the Vall d'Hebron Institute of Oncology (VHIO) liquid biopsy testing facility in Barcelona.

Stilla Technologies Partners with Promega Corporation to Provide Comprehensive Digital PCR Workflow Solution for Cancer Research

• In April 2022, Stilla Technologies partnered with Promega Corporation to offer a complete digital PCR workflow solution for a wide range of applications for cancer research. These included liquid biopsies, sentinel pathogen testing, and others.

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