Global Liquid Biopsy Market to Grow at a CAGR of 22% During 2024-2032, Aided by the Growing Incidences of Cancer Worldwide

The global liquid biopsy industry is being driven by the rampant spread of cancer globally. According to WHO, cancer is one of the leading causes of death globally, with breast cancer taking the number 1 spot. In this regard, many studies have shown the promising potential of liquid biopsies in breast cancer cases. Furthermore, the growing demand for non-invasive biopsies is another factor contributing to the market growth, as liquid biopsies are exceedingly efficient non-invasive procedures, wherein a physician can detect and monitor a tumour and accordingly decide appropriate treatment measures. Liquid biopsies require a blood sample or urine sample through which a physician can analyse the tumour based on the presence of circulating DNA of the tumour in the blood.

The growing R&D activities by the leading players to explore the potential of liquid biopsies and enhance their efficiency by utilising advanced technological solutions are expected to significantly catalyse the industry growth in the forecast period. In June 2021, NeoGenomics Laboratories (NASDAQ: NEO) announced its acquisition of Inivata Ltd., a commercial-stage liquid biopsy platform based in Cambridge, England. This acquisition combined the leading biopsy technology, that is, Inivata's highly sensitive RaDaR assay that utilises the NGS technology to detect variations accurately with a prominent community oncology platform, further helping NeoGenomics to establish itself as a technologically leading company in the minimal residue disease testing market. Another leading liquid biopsy manufacturer, Bio-Rad Laboratories Inc (NYSE: BIO), in their press release dated March 2019, announced the demonstration of the clinical utility of Biorad's Droplet Digital PCR powered liquid biopsy at the American Association for Cancer Research Annual Meeting. This technology offers high precision and sensitivity, absolute quantification, increased throughput, and removal of PCR efficiency bias, which could help in the detection of rare sequences of cancers and other diseases. Such developments are expected to aid the market growth in the forecast period.

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Market Breakup by Application, Sample Type, Biomarker, Technology, and Region:

• The market is categorised based on application into therapy selection for metastatic breast cancer, therapy selection for other metastatic cancer, and molecular health monitoring.

• On the basis of sample type, the market can be divided into blood sample based, urine sample-based, and others. 

• Based on biomarker, the industry is segregated into circulating tumour cells, circulating tumour DNA, and exosomes. 

• The industry is bifurcated, on the basis of technology, into multi-gene-parallel analysis using NGS and single-gene analysis using PCR microarrays. 

• Region-wise, the global market for liquid biopsy can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rampant spread of cancer is driving the global market for liquid biopsy.

• The increased demand for non-invasive procedures has significantly contributed to the market expansion. 

• The increased government initiatives in the development of the healthcare infrastructure are also aiding the industry growth. 

• The rising technological advancements and the growing research and development activities in the field of liquid biopsy are further propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for liquid biopsy for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the applications, sample types, biomarkers, technologies, and major regions of liquid biopsy.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global liquid biopsy market are Biocept, Inc., F. Qiagen N.V., Bio-Rad Laboratories, Inc., NeoGenomics Laboratories, Inc., and Guardant Health, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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