Liquid Biopsy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Liquid Biopsy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global liquid biopsy market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2028, exhibiting a growth rate (CAGR) of 15.3% during 2023-2028.

Liquid biopsy is a non-invasive alternative to surgical biopsies enabling doctors to obtain information about a tumor through a blood sample and plan the treatment accordingly. It can reflect changes in tumor gene expression profile and offer a robust base for individualized therapy. It assists in the early diagnosis screening, tumor heterogeneity and drug resistance. Besides this, it also detects epidermal growth factor receptor (EGFR) gene mutations, which occur among patients with non-small cell lung cancer (NSCLC).

Liquid Biopsy Market Trends:

Due to sedentary lifestyles and rising tobacco consumption, there is a surge in the number of cancer patients across the globe. This, along with the growing awareness among individuals about advanced minimally invasive (MI) procedures in cancer diagnostics, represents one of the key factors driving the market. Moreover, governing authorities of several countries are financing research and development (R&D) activities to encourage the introduction of advanced cancer solutions. These authorities are also considerable investing in the development of the healthcare industry, which is offering lucrative growth opportunities to industry players. Apart from this, key market players are focusing on product launches to develop personalized medicine worldwide. They are also integrating technological advancements in liquid biopsy to offer better procedure workflow and output. This, coupled with the rising adoption of blood-based biopsy tests for early tumor detection, is positively influencing the market. Additionally, the increasing usage of exosomes for clinical diagnosis in oncology to provide high accuracy and reduced procedural time is catalyzing the demand for liquid biopsy. Growth-inducing factors projected to impel the market growth are rapid development in digital polymerase chain reaction (PCR) and next-generation sequencing (NGS) based technology.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global liquid biopsy market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and service, circulating biomarker, cancer type and end user.

Breakup by Product and Service:

Kits and Reagents

Platforms and Instruments

Services

Breakup by Circulating Biomarker:

Circulating Tumor Cells

Extracellular Vesicles

Circulating Tumor DNA

Others

Breakup by Cancer Type:

Lung Cancer

Breast Cancer

Colorectal Cancer

Prostate Cancer

Liver Cancer

Others

Breakup by End User:

Hospitals and Laboratories

Academic and Research Centers

Others

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ANGLE plc, Biocept Inc., Bio-Rad Laboratories Inc, Epigenomics AG, Exact Sciences Corporation, F. Hoffmann-La Roche AG, Guardant Health Inc., Illumina Inc., MDxHealth SA, Menarini Silicon Biosystems, QIAGEN N.V. and Thermo Fisher Scientific Inc.

Key Questions Answered in This Report:

How has the global liquid biopsy market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global liquid biopsy market?

What are the key regional markets?

What is the breakup of the market based on the product and service?

What is the breakup of the market based on the circulating biomarker?

What is the breakup of the market based on the cancer type?

What is the breakup of the market based on the end user?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global liquid biopsy market and who are the key players?

What is the degree of competition in the industry?