Liquid Biopsy Market in terms of revenue was estimated to be worth $6.4 billion in 2024 and is poised to reach $11.3 billion by 2029, growing at a CAGR of 11.9% from 2024 to 2029 according to a new report by MarketsandMarkets™.
Liquid Biopsy Market Trends
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North America is the largest regional market for liquid biopsy market.
The market for liquid biopsy has been divided into six key geographical regions, namely North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. In 2023, North America held the predominant portion of the liquid biopsy market. The region boasts a well-developed healthcare infrastructure, including advanced diagnostic facilities, specialized oncology centers, and a skilled workforce. This infrastructure supports the integration of liquid biopsy into routine clinical practice, facilitating access for patients across various healthcare settings.
Liquid Biopsy Market Dynamics:
Drivers:
Rising incidence and prevalence of cancer
Cancer awareness initiatives undertaken by global health organizations
Benefits of liquid biopsy over traditional biopsy procedures
Restraints:
Lower sensitivity of certain liquid biopsy procedures
Opportunities:
Growing significance of companion diagnostics
Growth opportunities in emerging countries
Challenge:
Unclear reimbursement scenario
Key Market Players of Liquid Biopsy Industry:
The major players operating 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).
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%
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Recent Developments of Liquid Biopsy Industry:
In February 2024, Myriad Genetics, Inc. (US) entered into a definitive agreement to acquire select assets from Intermountain Health. These included assets from its Intermountain Precision Genomics (IPG) laboratory business, including the Precise Tumor Test, the Precise Liquid Test, and IPG's CLIA-certified laboratory.
In January 2024, Natera, Inc. (US) acquired certain assets relating to non-invasive prenatal and carrier screening business from Invitae (US).
In November 2023, Illumina, Inc. (US) launched its TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2.
In April 2023, QIAGEN (Netherlands) launched the QIAseq Targeted cfDNA Ultra Panels, enabling researchers studying cancer and other diseases to turn cell-free DNA (cfDNA) liquid-biopsy samples into libraries ready for NGS in less than eight hours.
In January 2022, Illumina, Inc. (US) partnered with Boehringer Ingelheim (Germany). This partnership was aimed to accelerate the development of therapy selection and precision medicines for patients with advanced cancer.
Liquid Biopsy Market - Key Benefits of Buying the 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).
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