Liquid Biopsy Market by Product & Service (Kits, Instruments), Circulating Biomarker (CTC, ctDNA, cfDNA), Technology (NGS, PCR), Application (Cancer (Lung, Breast, Prostate), Non-cancer (NIPT, Infectious)), Sample Type (Blood) - Global Forecast to 2029

Liquid Biopsy Market by Product & Service (Kits, Instruments), Circulating Biomarker (CTC, ctDNA, cfDNA), Technology (NGS, PCR), Application (Cancer (Lung, Breast, Prostate), Non-cancer (NIPT, Infectious)), Sample Type (Blood) - Global Forecast to 2029

The liqud biopsy market is valued at an estimated USD 6.4 billion in 2024 and is projected to reach USD 11.3 billion by 2029 at a CAGR of 11.9% during the forecast period. Liquid biopsy presents numerous advantages compared to conventional incisional biopsy techniques, including its non-invasive nature, decreased procedural expenses, easy disease montoring, and early detection of cancer at its initial stages. These advantages have fueled the acceptance of liquid biopsy procedures by end users. The increasing adoption and acknowledgment of liquid biopsy's benefits over traditional biopsy methods are driving significant advancements in liquid biopsy products and services.

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

Based on product & service, the liquid biopsy market is bifurcated into assay kits, instruments, and services. The assay kits segment in the liquid biopsy market is experiencing substantial growth. The recurrent requirement and purchase of these assay kits is one of the primary reasons for the high growth rate of this market segment. The availability of a wide range of reagents and kits, easy accessibility to a wide range of assays, and the rising prevalence of cancer are other major factors driving the growth of the liquid biopsy assay kits market.

“Early cancer screening segment accounted for the highest growth rate in the liquid biopsy market, by clinical application, during the forecast period.”

The liquid biopsy market is segmented into into early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring, based on clinical application. Early cancer screening segment is expected to account for the highest CAGR during the forecast period. The rapid adoption of liquid biopsy technologies for early cancer screeening is fueled by the growing research focus on early cancer detection, coupled with increased funding in this area. This research momentum is translating into a broader range of applications and improved performance of liquid biopsy in early cancer screening, further boosting its growth in this segment.

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

The worldwide market for liquid biopsy is categorized into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. The Asia Pacific region is poised to experience the most notable CAGR within the liquid biopsy market. Increasing collaborations between academic institutions, research organizations, and healthcare companies in the Asia Pacific region contribute to the advancement and commercialization of liquid biopsy technologies.

The break-up of the profile of primary participants in the liquid biopsy market:

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%, and Middle East & Africa- 4%

The key players in this market are Natera, Inc. (US), QIAGEN (Netherlands), Myriad Genetics, Inc. (US), Illumina, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Thermo Fisher Scientific Inc. (US), Guardant Health (US), Bio-Rad Laboratories, Inc. (US), Exact Sciences Corporation (US), Sysmex Corporation (Japan), Biocept, In. (US), mdxhealth (US), Personalis, Inc. (US), NeoGenomics Laboratories (US), Epigenomics AG (Germany), ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), Vortex Biosciences (US), Bio-Techne (US), MedGenome (US), Mesa Labs, Inc. (US), Laboratory Corporation of America Holdings (US), Freenome Holdings, Inc. (US), Strand (India), LungLife AI, Inc. (US), and Lucence Health Inc. (US).

Research Coverage:

This research report categorizes the liquid biopsy market by product & service (assay kits, instruments, and services), by circulating biomarker (circulating tumor cells, circulating tumor DNA, cell-free DNA, extracellular vesicles and other circulating biomarkers), by technology (multi-gene parallel analysis using NGS and single-gene analysis using PCR), by application (cancer applications [lung cancer, breast cancer, colorectal cancer, prostate cancer, melanoma, and other cancers] and non-cancer applications [non-invasive prenatal testing, organ transplantation, and infectious disease testing]), by clinical application (early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring), by sample type (blood and other sample types, by end user (reference laboratories, hospitals and physician laboratories, academic & research centers, and other end users), and region (North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the liquid biopsy market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, key strategies, acquisitions, and agreements. New product launches and recent developments associated with the liquid biopsy market. Competitive analysis of upcoming startups in the liquid biopsy market ecosystem is covered in this report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall liquid biopsy market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (Rising incidence and prevalence of cancer, cancer awareness initiatives undertaken by global health organizations, and increased benefits of liquid biopsy over traditional biopsy procedures), opportunities (Growing significance of companion diagnostics and growth opportunities in emerging countries), restraints (Lower sensitivity of certain liquid biopsy procedures), and challenges (Unclear reimbursement scenario) influencing the growth of the liquid biopsy market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the liquid biopsy market.

Market Development: Comprehensive information about lucrative markets – the report analyses the liquid biopsy market across varied regions.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the liquid biopsy market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings of leading players like Natera, Inc. (US), QIAGEN (Netherlands), Myriad Genetics, Inc. (US), Illumina, Inc. (US), and F. Hoffmann-La Roche Ltd (Switzerland).