Liquid Biopsy Market by Product (Assay Kits, Instruments), Circulating Biomarkers (CTC, ctDNA), Technology (NGS, PCR), Application (Cancer (Lung, Breast), Non-Cancer), Sample Type (Blood), End User (Reference Lab, Hospitals) - Global Forecast to 2027

Liquid Biopsy Market by Product (Assay Kits, Instruments), Circulating Biomarkers (CTC, ctDNA), Technology (NGS, PCR), Application (Cancer (Lung, Breast), Non-Cancer), Sample Type (Blood), End User (Reference Lab, Hospitals) - Global Forecast to 2027

The global liquid biopsy market is projected to reach USD 10.0 billion by 2027 from USD 4.3 billion in 2022, at a CAGR of 18.3% during the forecast period. Market growth is driven by factors such as rising global prevalence of cancers and the growing need for early detection coupled with efficient treatment monitoring and recurrence detection is anticipated to support the growth of the global liquid biopsy market. Liquid biopsy also enables the detection of cancer recurrence at earlier than traditional diagnosis methods. Early diagnosis enabled by liquid biopsy tests help healthcare professionals to improve various cancer treatments. On the other hand, the lower sensitivity of certain liquid biopsies might act as a restraining factor to the growth of this market.

“The assay kits segment accounted for the highest growth rate in the liquid biopsy market, by product & service, during the forecast period”

The liquid biopsy market is segmented into assay kits, instruments, and services based on product & service. In 2021, the assay kits segment accounted for the highest growth rate in the liquid biopsy market. The accessibility of a wide range of reagents and kits and simple availability to a wide range of assays are the major factors driving the growth of the liquid biopsy assay kits market.

“Non-cancer applications segment accounted for the highest CAGR”

Based on application, the liquid biopsy market is segmented into cancer and non-cancer applications. In 2021, the non-cancer application segment accounted for the highest growth rate. This can be attributed to the increasing research activities in NIPT, organ transplant diagnosis and infectious diseases.

“Asia Pacific: The fastest-growing region liquid biopsy market”

The global liquid biopsy market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. The Asia Pacific region is projected to register the highest CAGR during the forecast period.

The Asia Pacific region is projected to register the highest CAGR during the forecast period. Factors such as increased healthcare spending by a larger population base, healthcare infrastructure modernization, and the rising penetration of cutting-edge clinical laboratory technologies (especially in rural areas). These factors are expected to provide significant growth opportunities for liquid biopsy companies operating in this region.

The APAC, which is becoming a medical tourism hub, is considered one of the fastest-growing markets for medical procedures and devices. Low infrastructure & treatment costs and the availability of highly educated physicians have driven medical tourists to APAC countries. This is a major factor driving the growth of the market in this region.

The primary interviews conducted for this report can be categorized as follows:

By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%

By Designation: C-level - 27%, D-level - 18%, and Others - 55%

By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6%sssss, and the Middle East & Africa – 4%

Lists of Companies Profiled in the Report:

F. Hoffmann-La Roche Ltd. (Switzerland)

Myriad Genetics, Inc. (US)

QIAGEN N.V. (Netherlands)

Thermo Fisher Scientific, Inc. (US)

Guardant Health, Inc. (US)

MDxHealth SA (Belgium)

Exact Sciences Corporation (US)

Illumina Inc. (US)

Sysmex Inostics (US)

Bio-Rad Laboratories, Inc. (US)

Biocept, Inc. (US)

NeoGenomics, Inc. (US)

ANGLE plc (UK)

Menarini-Silicon Biosystems (Italy)

Vortex Biosciences, Inc. (US)

Exosome Diagnostics, Inc. (US)

Agena Bioscience, Inc. (US)

MedGenome Inc. (US)

Epigenomics AG (Germany)

Personal Genome Diagnostics, Inc. (US)

Research Coverage:

This report provides a detailed picture of the global liquid biopsy market. It aims at estimating the size and future growth potential of the market across different segments, such as product & service, clinical application, technology, circulating biomarkers, application, and end user. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall liquid biopsy market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.