Global Liquid Biopsy Market to Reach USD 15,495.72 Million by 2031 | CAGR of 10.7%
Category : Pharmaceuticals | Published Date : Nov 2024 | Type : Press Release
Liquid Biopsy Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Liquid Biopsy Market size was valued at USD 6,914.09 million in 2023 and is projected to grow at a CAGR of 10.7%, reaching USD 15,495.72 million by 2031. Liquid biopsy is a non-invasive diagnostic method that analyzes blood, urine, or other body fluids to detect cancer-related biomarkers such as circulating tumor DNA (ctDNA) or circulating tumor cells (CTCs). This technology provides critical insights into cancer type, stage, and treatment response, facilitating early detection, real-time monitoring, and perioperative management. Its applications span a variety of cancers, including lung, breast, and prostate.
The report comprises the Liquid Biopsy Market Share, Size & Industry Analysis, based on Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Others), End-Use (Hospitals, Diagnostic Centers, Research Labs, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Liquid Biopsy Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increasing global cancer prevalence and rising adoption of non-invasive diagnostic procedures are major drivers for market growth.
Segmental Analysis :
Based on cancer type, the market is segmented into Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, and Others.
- The lung cancer segment accounted for the largest share in 2023, driven by its high global prevalence and the ability of liquid biopsy to provide accurate and early detection.
- The breast cancer segment is projected to grow at the fastest rate during the forecast period, supported by advancements in ctDNA-based detection and the FDA-approved PIK3CA mutation test for breast cancer.
Based on end-use, the market is segmented into Hospitals, Diagnostic Centers, Research Labs, and Others.
- The hospitals segment held the largest share in 2023, at 53.15%, owing to its extensive use in cancer diagnosis, faster results, and patient preference for hospital-based care.
- The diagnostic centers segment is anticipated to grow at the fastest CAGR, driven by increasing demand for routine health profiling and early cancer detection services.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- North America: Dominated the market in 2023 with a share of 38.15%, driven by FDA-approved tests, advanced healthcare infrastructure, and high cancer prevalence in the U.S.
- Asia-Pacific: Expected to grow at the fastest CAGR of 11.4%, fueled by rising healthcare investments and adoption of liquid biopsy for cancer recurrence prevention and monitoring in countries like China, Japan, and India.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 15,495.72 Million |
| CAGR (2024-2031) | 10.7% |
| Cancer Type | Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Others |
| End-Use | Hospitals, Diagnostic Centers, Research Labs, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
<The liquid biopsy market is characterized by intense competition, with major players focusing on research and development, product innovation, and strategic collaborations.
List of prominent players in the Liquid Biopsy Industry:
- Guardant Health, Inc. (United States)
- Illumina, Inc. (United States)
- QIAGEN (Germany)
- Thermo Fisher Scientific Inc. (United States)
- NeoGenomics Laboratories (United States)
- F. Hoffmann-La Roche Ltd (Switzerland)
- OncoDNA (Belgium)
- Bio-Rad Laboratories, Inc. (United States)
Recent Industry Developments :
- July 2024: Guardant Health, Inc. launched an upgraded Guardant360 liquid biopsy test, capable of evaluating biomarkers across 739 genes for precise cancer characterization and treatment.
- November 2023: Illumina Inc. unveiled its TruSight™ Oncology 500 ctDNA v2 assay for genomic profiling, reducing sample-to-result time to under four days.
- October 2024: QIAGEN introduced updated liquid biopsy kits for oncology, prenatal care, and organ transplantation, enhancing sample analysis efficiency.
- 2022: C2i Genomics partnered with OncoDNA to bring AI-powered liquid biopsy diagnostics to Europe.
