Liquid Biopsy Industry is Rising Rapidly Up to USD 32.54 Bn by 2033

The global liquid biopsy market size was valued at USD 10.85 billion in 2023 and is projected to reach USD 32.54 billion by 2033, growing at a CAGR of 11.61% from 2024 to 2033 according to a new report by Nova One Advisor.

A liquid biopsy is a blood test that detects cancer cells or DNA that are circulating in the blood, called “circulating tumor DNA” or “ctDNA.” Like healthy cells, cancer cells die and are replaced. When these dead cells break down, they are released from the tumor into the bloodstream. A liquid biopsy detects the small pieces of DNA in the bloodstream from these cancer cells.

Liquid biopsies are different from other types of biopsies, such as core needle biopsies and fine needle aspiration biopsies, which are the main way doctors diagnose and treat most types of cancer. During a needle biopsy, a doctor surgically removes a small amount of tissue from a tumor or suspicious area. Then, a pathologist examines the tissue under a microscope for the presence of cancer cells. A liquid biopsy, however, is performed using a simple blood draw. The blood sample is then sent to a laboratory for analysis.

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Key Takeaways:

• North America dominated the market with a revenue share of 51.06% in 2023
• The market in Asia Pacific is expected to grow at the fastest CAGR of 13.09% over the forecast period
• The multi-gene-parallel analysis (NGS) segment held the largest market revenue share of 76.08% in 2023 and is anticipated to grow at the fastest CAGR over the forecast period.
• Single Gene Analysis (PCR Microarrays) segment is anticipated to show significant growth during the forecast period.
• Circulating Nucleic Acids biomarker segment held the largest market share of 36.16% in 2023
• Exosomes/Microvesicles segment is anticipated to grow at the fastest CAGR over the forecast period.
• Cancer application segment dominated the overall market with a revenue share of 86.46% in 2023
• Reproductive health segment is anticipated to witness the fastest CAGR of 12.82% over the forecast period
• The hospitals and laboratories end-use segment dominated the market in 2023 with a revenue share of 42.38% in 2023.
• Specialty clinics segment is anticipated to grow at the fastest CAGR of 12.22% over the forecast period.
• Therapy selection segment dominated the overall market in 2023 with a revenue share of 33.86%.
• Early screening segment is expected to show the fastest CAGR of 12.44% over the forecast period.
• The instruments product segment dominated the market in 2023 with a revenue share of 46.49%
• Kits and reagents segment is expected to be the fastest-growing segment during the forecast period
• Blood sample segment held the largest market share of 72% in 2023
• Others segment is anticipated to grow at the fastest CAGR of 12.75% over the forecast period.

Growth Factors

The global liquid biopsy market is primarily driven by the rising prevalence of cancer among the global population and rising awareness regarding the availability of different non-invasive treatments. As per the data provided by the International Agency for Research on Cancer in the GLOBOCAN 2020 estimates, around 19.3 million new cases of cancer and around 10 million deaths were reported due to cancer in 2020. The rising prevalence of breast cancer among the female population has made it the most common type of cancer diagnosed across the globe. In 2020, around 2.3 million new breast cancer cases were recorded, closely followed by the lungs cancer, colorectal cancer, and prostate cancer. Cancer is the second most leading cause of death across the globe, as per the World Health Organization. There are several benefits associated with the new liquid biopsy technique such as rapid results, low cost, early prognosis, overcoming tumor heterogeneity, low risk, and non-invasiveness. All these benefits of the liquid biopsy over the traditional diagnosis is fueling the adoption of the liquid biopsy among the patients across the globe, and is expected to significantly drive the demand during the forecast period.

The increased awareness about the cancer is boosting the liquid biopsy market growth as liquid biopsy technique can detect the cancer early, can monitor progression of tumor, and can assess clinical prognosis. Moreover, the proliferation of advanced technologies has boosted the demand for the non-invasive diagnosis and treatments that is expected to spur the demand for the liquid biopsy in the forthcoming years. The rising investments by the market players in the clinical trials for the development of innovative diagnostic solutions is exponentially contributing towards the market growth.

Liquid biopsies could be a game-changer in cancer testing.

“From a treatment perspective,” comments Lukas Amler Senior Director, Oncology Biomarker Development, Genentech, “the increased access to liquid biopsies, especially for patients that do not have tissue available or cannot undergo a new invasive biopsy, could significantly increase the number of patients who will benefit from powerful targeted medicines, particularly in lung cancer. Tissue could also be reserved for other novel testing for example for cancer immunotherapy where currently there are no blood tests available.”

The power to improve progression and survival rates will be the ultimate determinant of whether liquid biopsies become a leading diagnostic tool.

Liquid biopsies will complement the tissue biopsy allowing more patients to be tested.

The liquid biopsy will not replace the tissue biopsy in the foreseeable future”, says Joakim Jagorstrand, Lifecycle Leader for Genomics and Oncology at Roche Diagnostics. “However, liquid biopsies will complement the tissue biopsy allowing more patients to be tested. The issue is that many times there is just not enough tissue to test on. This novel, minimally invasive technique has the potential to change the prognostic and predictive landscape for lung cancer genotyping and impact patient management. I think we are close, but we are not completely there yet. More real world clinical studies and comparisons are needed to fully explore the potential of plasma based testing. It is an exciting opportunity, a win for the patient in many ways and Roche is one of the world leaders in developing such tests.”

More validation in clinical trials is required on the value of liquid biopsies in the medical setting. And, while liquid biopsy informs treatment decisions in lung cancer with an epidermal growth factor receptor (EGFR) mutation, targeted therapies do not exist for all cancers. Are liquid biopsies the best option in diagnosing and monitoring these cancers? What if any role do liquid biopsies play in informing treatment decisions in the emerging field of immune oncology? These are questions that scientists and clinicians continue to explore.

“Using a blood test rather than relying on tissue would be a breakthrough as sometimes a (surgical) biopsy doesn’t take enough tissue,” says Dr Jesme Fox, Medical Director of The Roy Castle Lung Cancer Foundation, a lung cancer charity. “The science isn’t quite there yet but there is hope for the future.”

However, as scientific knowledge advances, researchers are learning more about the potential of liquid biopsies to detect mutations, suggesting that the promise and power of this diagnostic technology could be truly game-changing.

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Sample Type Insights

Blood sample segment held the largest market share of 72% in 2023 and is projected to maintain its dominance over the forecast period. Blood-based liquid biopsy has remarkable advantages over traditional biopsy methods. Blood-based liquid biopsies are non-invasive, painless, and have no risk. In addition, it reduces time taken and cost for diagnosis. Exomes, CTCs, cfDNAs, and microvesicles in a blood sample can be detected, thus increasing adoption of blood-based liquid biopsy. Circulating biomarkers play a vital role in understanding tumorigenesis and metastasis, which help determine tumor dynamics for treatment and disease progression. Moreover, concentration of biomarkers in blood might allow quick detection of cancer stage and enable more favorable prediction regarding prognosis in patients.

Others segment is anticipated to grow at the fastest CAGR of 12.75% over the forecast period.Others segment includes urine, saliva, and Cerebrospinal Fluid (CSF)-based tests. Urine has also been used extensively for urinalysis and has proven applications in medical diagnosis. While it is not as commonly used in liquid biopsy studies, a few companies focus on developing urine-based liquid biopsy products. Collection of urine samples in large quantities is non-invasive, easier, and inexpensive. For instance, in August 2021, Nonacus entered a partnership with the University of Birmingham to develop a non-invasive urine-based test for detection of bladder cancer. This test uses the company’s liquid biopsy technology and a panel of biomarkers approved by a team of scientists at the Bladder Cancer Research Centre of the University of Birmingham to diagnose the disease from a urine sample.

Technology Insights

The multi-gene-parallel analysis (NGS) segment held the largest market revenue share of 76.08% in 2023 and is anticipated to grow at the fastest CAGR over the forecast period. NGS technology allows detection of various tumor-causing mutations and identification of potential emergence of post-treatment resistance mechanisms from pre-existing clones. Rapid developments in NGS technology have led to significant cost reductions in sequencing with high accuracy. Furthermore, key players operating in the market are developing innovative products to meet growing demand for diagnosis and maintain their position with an expanded product portfolio, thus driving the market growth. For instance, in January 2023, Agilent Technologies collaborated with Quest Diagnostics to provide access to Agilent Resolution ctDx FIRST, an NGS liquid biopsy test in the U.S.

Single Gene Analysis (PCR Microarrays) segment is anticipated to show significant growth during the forecast period. Technological advancements in PCR are expected to propel market growth over the forecast period. The recently introduced Droplet Digital PCR (ddPCR) is an advanced technology that allows absolute quantification of nucleic acids with high sensitivity and precision. This PCR technique has been developed as a rapid & precise tool for detecting and monitoring several types of cancers.For instance, Bio-Rad’s ddPCR technology detects cancer subtypes, monitors residual disease, optimizes drug treatment plans, and studies tumor evolution. ddPCR assays have advantages when used in liquid biopsies, enabling measurement of Circulating Tumor Cells (CTCs) and Circulating Nucleic Acids (cfDNA) in blood samples.

Product Insights

The instruments product segment dominated the market in 2023 with a revenue share of 46.49%, attributed to the launch of new instruments and the advancement of existing products. For instance, in 2022, Tempus added xF+, a liquid biopsy panel made of 523 genes, a brand-new non-invasive test that focuses on pathogenic mutations in cfDNA, to its array of comprehensive genomic profiling services.

Global Liquid Biopsy Market Revenue, By Product, 2022-2032 (USD Million)

Kits and reagents segment is expected to be the fastest-growing segment during the forecast period, owing to increasing research and development activities by key market players for development of advanced forms of kits and reagents. For instance, in 2021, Sysmex Inostics GmbH and Sysmex Europe GmbH launched the Plasma-SeqSensei liquid biopsy kits for thyroid, non-small cell lung cancer, colorectal cancer, and melanoma cancer, only for research use. The recurring cost associated with kits and reagents further propels the segment growth.

Biomarker Insights

Circulating Nucleic Acids biomarker segment held the largest market share of 36.16% in 2023, attributable to widespread applications associated with ctDNA in liquid biopsy. Translational cancer researchers are identifying ctDNA from tumors using liquid biopsy. The discovery of ctDNA offers new opportunities in future liquid biopsy applications for cancer diagnosis by acting as a possible biomarker. ctDNA has been suggested as an alternative source in cancer patients for molecular profiling of tumor DNA, as opposed to invasive techniques. A new technique for early detection and monitoring of cancer has been made possible by the aberrant ctDNA identification from cancer cells.

Exosomes/Microvesicles segment is anticipated to grow at the fastest CAGR over the forecast period. Exosomes show significant advantages in liquid biopsy. Exosomes are present in almost all body fluids, including plasma, cerebrospinal fluid, and urine. They possess high stability and are encapsulated by lipid bilayers. Exosomes act as a common central participant between cells during cancer progression and metastasis. The complex signaling pathway network between exosome-mediated cancer cells and the tumor microenvironment acts as a crucial factor in the cancer progression at all stages.

Application Insights

Cancer application segment dominated the overall market with a revenue share of 86.46% in 2023, owing to rising adoption of liquid biopsy in detection of cancer aided by the rising prevalence of cancer globally. Liquid biopsy technology is one of the most evolving technologies in diagnostics and has made considerable headway in recent years, showing a significant growth in adoption in clinical applications. This approach is a fast-emerging precision oncology tool that allows for longitudinal monitoring and less invasive molecular diagnostics for therapy purposes. Furthermore, in June 2022, Elypta raised USD 21 million for development of MCED test with LEVANTIS-0087A study in progress for MCED.

Reproductive health segment is anticipated to witness the fastest CAGR of 12.82% over the forecast period owing to promising R&D in liquid biopsy for treating and maintaining reproductive health. The reproductive application segment is expected to grow profitably throughout the projection period. Furthermore, alliances and partnerships among reproductive health industry actors promote segment expansion. For instance, in September 2021, Bionano Genomics and NuProbe entered into a partnership on reproductive health and oncology liquid biopsy testing to give an option to discover variations that NGS cannot detect.

End-use Insights

The hospitals and laboratories end-use segment dominated the market in 2023 with a revenue share of 42.38% in 2023. Hospitals are preferred for care due to availability of various services under one roof. The benefit of hospitals conducting cancer diagnosis is that they can offer results for tests even in emergencies. Liquid biopsy is helping doctors by giving them a highly precise cancer diagnosis in a shorter turnaround time, thereby reducing the treatment lag time. Cancer patients in hospitals undergo routine monitoring for analysis of resistance to treatment. Chemotherapy has long been a successful and dependable cancer treatment. Chemotherapy may be used to treat cancer or to improve quality of life by symptom management. In addition, chemotherapy can improve the efficacy of other treatments like surgery or radiation therapy.

Specialty clinics segment is anticipated to grow at the fastest CAGR of 12.22% over the forecast period. An increase in awareness of personalized medicine, technological advancements, and a rise in demand for affordable services are some of the key factors expected to drive growth of specialty clinics segment. Another major factor expected to drive market growth is increasing government initiatives to provide various facilities, such as compensation for diagnostic tests. Moreover, a number of healthcare institutions are working with laboratories to incorporate different clinical tests, such as microbiology testing.

Clinical Application Insights

Therapy selection segment dominated the overall market in 2023 with a revenue share of 33.86%. The market’s growth is attributed to selection of treatment options that can be affected by liquid biopsies to improve patient outcomes. Cancer is the second leading cause of mortality in the U.S. and most expensive disease to cure. Several advancements in cancer detection and biomarkers have been developed to aid the study of cancer progression and creation of successful treatment options. Liquid biopsies can assist in improving cancer therapies by enabling early intervention, enhancing treatment control, and moving decision-making away from reactionary acts and toward more proactive early interventions. Early detection is also facilitating market growth.

Early screening segment is expected to show the fastest CAGR of 12.44% over the forecast period. The segment growth is attributed to rise in prevalence of multiple cancers and the increasing need to provide efficient methods to detect them at early stages to enable timely appropriate treatment, are anticipated to drive the market growth. For instance, according to the International Agency for Research on Cancer (IARC) over 20.7 million new cancer cases are expected in 2023. The need to develop diagnostic options that can detect cancer at an early stage, which can help improve disease management & reduce mortality, is likely to propel the overall market.

Regional Insights

North America dominated the market with a revenue share of 51.06% in 2023, owing to high cancer prevalence, rapid technological advancements, and growing government initiatives. Moreover, the market is led by the U.S. owing to more investments and presence of several biotechnology companies developing advanced tests. Various organizations, including the American Society of Clinical Oncology (ASCO), are working to support the deployment of liquid biopsy, which is expected to increase revenue in this market. The market is expected to grow during the forecast period owing to intense competition between biotechnology companies and increasing investments by governments in healthcare institutes to develop more sophisticated tests.

The market in Asia Pacific is expected to grow at the fastest CAGR of 13.09% over the forecast period due to various factors, such as improving healthcare reforms. Other factors contributing to market growth are increasing population, improving healthcare infrastructure, and entry of new players. Asia Pacific has a large population and a high prevalence of cancer. According to Global Cancer Statistics, estimated number of new cases of cancer in Asia in 2022 was 10.5 million. Government initiatives, such as free screening for breast, cervical, & lung cancer and improved collaborations between the government, research institutes, & companies for distribution & supply of these tests for screening cancers, have increased in the past few years.

Global Liquid Biopsy Market Revenue, By Region, 2022-2032 (USD Million)

Key Companies & Market Share Insights

The presence of pipeline products in the liquid biopsy segment that are expected to launch in the coming years is anticipated to drive the market growth over the forecast period.

• In November 2023, Illumina Inc. announced the new TruSight Oncology 500 ctDNA v2, a new generation of its liquid biopsy assay for genomic profiling.
• In January 2023, Agilent Technologies, Inc. acquired Avida Biomed. This initiative is expected to provide it with rapid growth in the diagnostics and clinical research markets.

Key Liquid Biopsy Companies:

• 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.
• Epigenomics AG

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Liquid Biopsy market.

By Sample Type

• Blood Sample
• Others

By Technology

• NGS
• PCR
• FISH
• Other

By Workflow

• Sample Preparation
• Library Preparation
• Sequencing
• Data Analysis

By Usage

• RUO
• Clinical

By Types of Sample

• Blood
• Urine
• Saliva
• CerebroSpinal Fluid

By Circulating Biomarker

• Circulating Tumor Cells
• Cell-free DNA
• Circulating Cell-Free RNA
• Exosomes and Extracellular Vesicles
• Others

By Products

• Test/Services
• Kits and Consumable
• Instruments

By Indication Type

• Lung Cancer
• Breast Cancer
• Prostate Cancer
• Colorectal Cancer
• Melanoma
• Other cancers
• Non-Oncology Disorders

By Clinical Application

• Treatment Monitoring
• Prognosis and Recurrence Monitoring
• Treatment Selection
• Diagnosis and Screening

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

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