Liquid Biopsy Market Size to Hit USD 29.8 billion by 2035, Registering at a CAGR of 15.2% | Roots Analysis

LONDON, Dec. 4, 2023 /PRNewswire/ -- According to the recently published report by Roots Analysis, the growing preferences for non-invasive early cancer detection procedures are driving the liquid biopsy market in the upcoming years.

Liquid Biopsy Market Overview

The liquid biopsy market is anticipated to be worth USD 5.4 billion in 2023 and is expected to reach over USD 29.8 billion by 2035 at a compounded annual growth rate (CAGR) of 15.2% during the forecast period.

Cancer has become the leading cause of death across the globe. In most cases, cancer has been diagnosed at a later stage, and it is difficult for healthcare experts to cure patients of the disease. In order to provide successful treatment, it is essential to detect cancer at an early stage. Over the years, tissue biopsy has been used for cancer diagnosis, which requires tissue exertion. Tissue biopsy is an invasive procedure that causes pain, discomfort, and complications during diagnosis. To overcome this challenge, liquid biopsy emerges as a potential solution similar to a blood test. It is a non-invasive procedure and doesn't cause pain and discomfort to the patient. Liquid biopsy uses body fluids such as blood, urine, and plasma to detect circulating biomarkers and genetic mutation. Driven by the significance of the liquid biopsy, several market players continue to research liquid biopsy procedures, which is likely to drive the liquid biopsy market in the future.

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Market Drivers

Several market drivers that are driving the liquid biopsy market, including the rising awareness about cancer and increasing demand for minimally invasive procedures for cancer diagnosis. The minimally invasive diagnostic method, such as liquid biopsy, improves the efficacy of cancer treatment, minimizing the side effects and reducing the cost of continuous diagnosis. Owing to the benefits, several market players, including Amoy Diagnostics, ArcherDX, Biocartis, Cell Search, CellMax Life, and Datar Cancer Genetics, are increasing research activities to develop novel liquid biopsy procedures. In May 2023, Guardant360 CDx from Guardant Health was approved in Singapore as a companion diagnostic procedure. The ongoing research and development are anticipated to grow the liquid biopsy market in the future (2023-2035).

Market Restraints

Despite the growing demand, several market restraints are limiting the growth of the liquid biopsy market, including the low sensitivity of liquid biopsy tests. The level of ctDNA in the blood is quite low, and mutations might be extremely low in the plasma of the patient, which creates difficulty in the detection of cancer using liquid biopsy. Furthermore, the cost associated with developing a liquid biopsy procedure is high.

Growth Factors

Though several market restraints have restricted the market's growth, several growth opportunities are paving the market, including rising cases of cancer and the requirement of advanced detection procedures for early cancer detection. Moreover, the growing interest of market players in developing non-invasive methods for early cancer detection is further driving the market in the future.

Liquid Biopsy Market Segments

Based on the Application, the Liquid Biopsy Market is Segmented Into Early Cancer Diagnosis, Patient Monitoring and Recurrence Monitoring

• Early cancer diagnosing segment is likely to grow during the forecast period, holding 65% of the market share by 2035.
• 31% of the liquid biopsy market share will be captured by the patient monitoring segment by 2035.

Based on the Type of Target Disease Indication, Liquid Biopsy Market is Segmented Into Bladder Cancer, Breast Cancer, Colorectal Cancer, Gastric Cancer, Lung Cancer, Prostate Cancer, and Others.

• Breast cancer segments will hold 22.98% of the market share by 2035.
• 20.52% of the liquid biopsy market share is captured by the colorectal cancer segment by 2035.

Based on Circulating Biomarkers, Liquid Biopsy Market is Segmented Into Cell-Free DNA, Cell-Free RNA, Circulating Tumor DNA, Extracellular Vesicles, and Other Circulating Biomarkers

• Circulating tumor DNA dominates the market during the forecast period, capturing 51% of the liquid biopsy market share by 2035.
• 23% of the liquid biopsy market share will be captured by the cell free DNA segment by 2035.

Based on the Type of Sample, the Liquid Biopsy Market is Segmented Into Blood / Plasma and Other Analytes

• Blood / Plasma segments dominate the liquid biopsy market, capturing 82% of the market share by 2035.
• Other analytes segment is likely to grow at a steady rate and capture 18% of the market share by 2035.

Based on the Type of Technique, the Liquid Biopsy Market is Segmented Into Polymerase Chain Reaction and Next-Generation Sequencing

• 55% of the liquid biopsy market share will be captured by the next generation sequencing segment by 2035.
• Polymerase chain reaction is likely to grow during the forecast period, holding 45% of the market share by 2035.

Based on End-User, the Liquid Biopsy Market is Segmented Into Hospitals, Research Institutes, and Others

• Hospitals / laboratories segment dominate the liquid biopsy market, capturing 80% of the liquid biopsy market share by 2035.
• 17% of the market share will be captured by the research institutes by 2035.

Based on Geographical Region, Liquid Biopsy Market is Segmented Into US, UK, Germany, France, Italy, Spain, Australia, Japan, China and India.

• The US will dominate the liquid biopsy market, capturing 41% of the market share by 2035.
• China is likely to hold 17% of the liquid biopsy industry share by 2035.

Key Companies Profiled

The market report also includes details of key players (listed below) that offer liquid biopsy procedures:

• Amoy Diagnostics
• ArcherDX
• Biocartis
• Cell Search
• CellMax Life 
• Datar Cancer Genetics
• DiaCarta, EONE-DIAGNOMICS
• Exosome Diagnostics
• GeneCast Biotechnology
• Integrated DNA Technologies
• Lucence
• MDNA Life Sciences
• Miltenyi Biotec
• NeoGenomics 
• ONCODE Scientific
• OncoDNA
• QIAGEN
• PANAGENE 
• Personal Genome Diagnostics
• Prediction
• ScreenCell 
• Tecan
• Thermo Fisher Scientific

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