Global Liquid Biopsy Market Report and Forecast 2024-2032

Global Liquid Biopsy Market Outlook

The global liquid biopsy market size was valued at USD 2269.81 billion in 2023, driven by the rising incidence of cancer cases across the globe. The market is expected to grow at a CAGR of 22.0% during the forecast period of 2024-2032, with the values likely to rise from USD 2769.17 billion in 2024 to USD 13591.48 billion by 2032.

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Global Liquid Biopsy Market Overview

Liquid biopsy is a blood test used to detect cancerous tumors floating in the blood stream. It can help identify circulating tumor cells (CTCs) as well as circulating tumor DNA (ctDNA). It is a relatively newer technique used to monitor tumor recurrence and study the treatment response with precision. It is highly preferred as it facilitates early detection of cancer as compared to other screening tools such as MRI or other imaging tests.

The overall market growth is driven by the growing prevalence of cancer, increasing research and development activities and technological advancements as well as rising investments in healthcare companies to develop innovative and improved solutions for patients.

Rising Incidence of Cancer Cases

The liquid biopsy market demand can be attributed to rising incidence of cancer. In 2023, approximately 2 million people are expected to be diagnosed by cancer in the United States alone. Breast cancer is the most diagnosed cancer estimated to affect 297,790 women and 2,800 men. While prostate cancer is the second most common cancer type with 288,300 expected cases. Out of the 2 million people diagnosed, around 609,820 mortalities are associated with the disease. Lung and bronchus cancer is projected to be a leading cause of deaths, responsible for 127,070 deaths, followed by colorectal cancer (52,550 deaths) and pancreatic cancer (50,550 deaths).

Advancements in Technology for Improved Specificity of Treatment

Early diagnosis of cancer helps in providing improved treatment solutions to patients. Simultaneously, it is critical to determine the pattern for tumor progression as well. Liquid biopsy has emerged as an effective technique to accomplish such procedures. There has been significant emphasis on improving the existing solutions and bringing in advanced technologies to boost the liquid biopsy market share globally. In February 2023, BCRF researchers developed HDSCA3.0 , a third-generation liquid biopsy technology. This new technology uses five different biomarkers to detect and distinguish rare circulating cells at a high resolution. When used along with other screening techniques, it has shown promising results to help the healthcare practitioners make informed decisions.

Growing Research Activities for Advanced Testing

The preference for liquid biopsy has seen a significant upswing owing to its better accuracy and less invasive nature as compared to traditional methods such as tissue biopsy. Microfluidic  based lab-on-a-chip technology is the latest addition to the liquid biopsy market. These chips have been successfully applied in cancer diagnosis and monitoring. To support the latest technological advancements, subsequent changes are being made to the hardware equipment as well. The rising trend of point of care diagnostics based on cell-based assays along with whole blood cell counting is one of the major aspects of liquid biopsy market growth.

Increasing Investments from Emerging Healthcare Companies

In March 2023, a new biotechnology company called Droplet  Biosciences announced a USD 8 million seed investment to develop a novel platform to analyze lymph fluid samples from patients with cancer. The tests are focused on head and neck cancer, however, the company aims at expanding the technology application to other parts of the body. The tests developed by the company are more sensitive when compared to others. In addition, they are conducted shortly after the surgery which allows the results to be returned in time for informed alternative therapy decisions. The rising fundings from budding organizations is one of the significant liquid biopsy market trends.

In April 2023, Foresight  Diagnostics, Inc, a pioneering developer of ultrasensitive cancer detection tests, received USD 58.75 million series B funding from Foresite Capital, in participation with Civilization Ventures, Stanford University, Bluebird Ventures, Pear Ventures, Agent Capital, and The University of Colorado Healthcare Innovation Fund. The funding was intended to be applied in the clinical development and commercialization of PhasED-Seq™, the company’s MRD (minimal residue disease) platform. It aims at leveraging the sequencing of phased variants for detecting circulating tumor DNA (ctDNA) in the bloodstream.

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Global Liquid Biopsy Market Segmentation

Market Breakup by Sample

• Blood Sample

• Others

Market Breakup by Biomarker

• Circulating Tumor Cells (CTCs)

• Circulating Nucleic Acids

• Exosomes/ Microvesicles

• Circulating Proteins

Market Breakup by Technology

• Multi-gene-parallel Analysis (NGS)

• Single Gene Analysis (PCR Microarrays)

Market Breakup by Application

• Cancer

• Reproductive Health

• Organ Transplantation

• Infectious Diseases Testing

• Others

Market Breakup by End-user

• Hospitals and Laboratories

• Specialty Clinics

• Academic and Research Centers

• Others

Market Breakup by Clinical Application

• Therapy Selection

• Treatment Monitoring

• Early Cancer Screening

• Recurrence Monitoring

• Others

Market Breakup by Product

• Instruments

• Consumables Kits and Reagents

• Software and Services

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin Americ

• Middle East and Africa

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Global Liquid Biopsy Market Regional Analysis

North America, particularly the United States, is projected to lead the liquid biopsy market during the forecast period. The presence of robust healthcare and research and development infrastructure fosters growth in the region. The increasing product launches, along with mergers and acquisitions in prominent MedTech companies, are also contributing to the liquid biopsy market share. In May 2023, Lucence Health Inc.  launched LucenceINSIGHT™, its leading ctDNA-based liquid biopsy test screening technique in the United States headquarters.

Europe is another major market for liquid biopsy with various start-ups and companies coming into mainstream and developing their own diagnostic platforms. In February 2023, a Scotland-based startup called Dxcover  raised USD 11.9 million in series A and grant financing to develop its own liquid biopsy technology platform aimed at detecting early-stage cancers, constituting colorectal and brain cancers. The organization plans to use infrared spectroscopy and artificial intelligence algorithms to analyze patient blood samples and detect the presence or absence of the tumor.

Global Liquid Biopsy Market: Competitor Landscape

In October 2023, Precede Biosciences  launched a liquid biopsy platform in combination to their existing genome-wide platform which explores gene enhancers, promotors, and DNA methylome from a single millilitre (1mL) of plasma. Genomic liquid biopsy have helped in cancer care by offering somatic mutations. The new platform by the company interprets gene levels and pathway level biology genome-wide directly, with the help of 1 mL of plasma. The trend of automation and adoption of latest technologies has been a significant trend being adapted by several companies.

The key features of the liquid biopsy market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• ANGLE plc

• Oncimmune Holdings PLC

• Guardant Health

• Myriad Genetics, Inc.

• Biocept, Inc.

• Lucence Health Inc.

• Freenome Holdings, Inc.

• F.Hoffmann La Roche Ltd.

• QIAGEN

• Illumina, Inc.

• Thermo Fisher Scientific, Inc.

• Exact Sciences Corporation

• Bio-Rad Laboratories, Inc.

• Menarini Silicon Biosystems S.p.A.

• Epigenomics AG

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report