Liquid Biopsy Market Size, Share & Trends Analysis Report By Biomarker (Exosomes, CTC), By Technology, By Sample Type, By Application, By Clinical Application, By End-use, By Product, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global liquid biopsy market size was estimated at USD 8.94 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.46% from 2023 to 2030. The market for liquid biopsy is witnessing growth due to factors such as the rising burden of oncology disorders, increasing preference for minimally invasive cancer diagnostics, and the growing geriatric population. In addition, a surge in the total number of clinical trials for the development of novel liquid biopsy assays is further driving market growth. It offers great opportunities for market expansion with its rising use as a prognostic and diagnostic tool. Patients with cancer are at a higher risk of SARS-CoV-2 infection, compared to those without cancer. Furthermore, morbidity and mortality from COVID-19 are increased in patients with cancer. As per a report by the American Society of Clinical Oncology in March-July 2020, in comparison with 2019, there was a considerable decrease in biopsies, cancer screenings, office visits, therapies, and surgeries. At the peak of the pandemic in April 2020, screenings for prostate, lung, breast, and colon reduced by 74%, 56%, 85%, and 75% respectively.

An increasing number of industry players are receiving funding from investors for the development of new tests. For instance, in July 2022, Delfi Diagnostics, Inc. received funding of USD 225 million for the development of an accessible and high-performance MCED test. The company is working on reducing the cost of the test to make it more accessible to the general population. Liquid biopsy technologies have made considerable headway in recent years, showing a significant boom in adoption in clinical applications.

Liquid biopsy is a rapidly evolving tool of precision oncology, enabling longitudinal monitoring and minimally invasive molecular diagnostics for treatment purposes. For the management of advanced-stage lung cancer, quantification and detection of circulating DNA are now commonly adopted as clinical practice. Liquid biopsy technology is delivering a new source for cancer biomarkers and is adding new dimensions to clinical trials. It helps in diagnosing cancer at an early stage, identifying mechanisms of therapies resistance, and customizing treatment for disease detection, which is expected to contribute to market growth.

Although conventional tissue biopsies involve invasive methods for the detection of tumor cells, liquid biopsies involve the usage of peripheral blood, which is easily accessible, allowing for more common use, mostly in patients who cannot undergo surgery. As a result, it takes less time for treatment based on tumor detection, enhancing staff & resource efficiency, and is used to screen other diseases. It can also help avoid potential complications associated with conventional biopsies, as it removes the risk of tumor spread, severe bleeding, and injury to surrounding tissues.

Thus, liquid biopsy is widely accepted, which is expected to drive market growth in the coming years. However, the advent of the COVID-19 pandemic has significantly affected the overall cancer diagnostics market. Small biopsy procedures, cancer resection surgeries, appointments, and consultations ceased in most countries, morbidity and mortality from COVID-19 increased in patients with cancer, and the rate of the virus transmission was deemed to be high.

Technology Insights

The multi-gene-parallel analysis (NGS) segment held the highest market revenue share of 75.17% in 2022. Recently, significant developments in NGS technology are enhancing the accuracy and making the tests more cost-effective. For a liquid biopsy, NGS has been used to sequence circulating tumor DNAs. NGS technology is utilized for the detection of multiple mutations in multiple genes. It is based on the principle of massively parallel sequencing of millions of different DNA molecules.

On the other hand, several companies are introducing various innovative products in the single gene analysis segment. For instance, in March 2020, the therascreen PIK3CA RGQ PCR Kit was launched by QIAGEN in Europe for enhancing breast cancer precision medicine usage. This kit is applicable in the detection of specific mutations present in ctDNAs in the blood. Moreover, in July 2021, Stilla Technologies launched a 6-Color-Digital PCR Access Program for the first six-color digital system to provide the highest multiplexing and capacity available on the market.

Biomarker Insights

The Circulating Tumor Cells (CTC) biomarker segment held the largest market share of 36.25% in 2022, owing to its use in molecular assays as a prominent biomarker in the detection of cancer. The presence of novel products that detect CTC is expected to drive revenue generation in the market. For instance, CELLSEARCH CTC is an FDA-approved test for the detection of breast cancer CTC.

ctDNA detection offers great potential for monitoring, diagnosis, and prediction of the survival of patients. As per the Cancer Research Journal in 2022, the major advantages of the segment include early detection of cancer, early detection of relapse, and real-time monitoring of therapeutic efficacy. However, false positive tests diminish the overall potential of the segment.

Application Insights

The cancer application segment dominated the overall market with a revenue share of 86.21% in 2022, owing to the rising prevalence of cancer globally, leading to the increasing use of liquid biopsy in screening its various forms. According to WHO, cancer is a leading cause of death worldwide and accounted for 10 million deaths in 2020. The most common of these, lung cancer, was responsible for the death of 1.80 million people in 2020. With increasing prevalence rates, the adoption of liquid biopsy is on the rise, leading to the growth of the overall market.

Due to the promising R&D in the field of liquid biopsy being taken into consideration for treating and maintaining reproductive health, the reproductive application segment is predicted to experience lucrative growth over the forecast period. Additionally, collaborations and partnerships among market participants in the field of reproductive health foster segment expansion. For instance, in 2021, Bionano Genomics and NuProbe Global collaborated on reproductive health and oncology liquid biopsy testing to provide an alternative for the detection of variants that cannot be detected by NGS.

End-use Insights

The hospitals and laboratories end-use segment dominated the liquid biopsy market with a revenue share of 46.21% in 2022. The dominance of the segment is attributed to the wide range of applications of liquid biopsy in hospitals for early screening and diagnosis of cancer patients. Hospitals serve as the most preferred healthcare facility for patients, which further increases their adoption across the patient pool. Moreover, increasing outsourcing activities for tests is further propelling the demand for laboratories.

With ongoing research in the field of cancer detection, there has been a substantial rise in the number of research and academic centers. With increasing funding and research activities, the development of liquid biopsy products in research centers fuels segment growth.

Clinical Application Insights

The therapy selection segment dominated the overall market in 2022 with a revenue share of 33.83%, owing to the choice of treatment plans that can be influenced by liquid biopsies to improve patient outcomes. Liquid biopsies can help in the enhancement of cancer treatments, enabling early intervention, improving treatment control, and shifting decision-making away from reactive acts and toward more proactive early interventions. The usefulness of early detection is further enabling market growth.

The early screening segment is expected to show the fastest growth over the forecast period. The growth of the segment is attributed to the rise in the prevalence of cancer and the need to provide efficient methods to detect cancer at early stages, to provide appropriate treatment. There is ongoing research to develop and commercialize early screening tests by adopting the liquid biopsy technique. For instance, in 2021, GRAIL, LLC launched its Galleri blood test to detect various cancers.

Product Insights

The instruments product segment dominated the market for liquid biopsy in 2022 with a revenue share of 46.21%. The dominance of the segment is 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 up of 523 genes, a brand-new non-invasive test that focuses on pathogenic mutations in cfDNA, to its array of comprehensive genomic profiling services.

The kits and reagents product segment is expected to be the fastest-growing segment during the forecast period, owing to the increasing research and development activities by key market players for the development of advanced forms of kits and reagents. For instance, in 2021, Sysmex Inostics GmbH along with Sysmex Europe GmbH launched the Plasma-SeqSensei liquid biopsy kits forthyroid, 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 growth of the market segment.

Sample Type Insights

The blood sample segment held the largest market share of 71.95% in 2022 and is projected to maintain its dominance over the forecast period. The presence of FDA-approved products such as Guardant360 CDx and FoundationOne Liquid CDx that require blood samples for testing is expected to further propel the growth of the segment. These tests have an enhanced demand owing to their use in prescribing treatments and high accuracy.

Urine-based biopsy is an emerging type of sample for conducting a liquid biopsy. Novel tests are being launched in this segment, which is expected to propel the market growth in the coming years. For instance, in March 2022, miR Scientific, LLC announced the availability of its urine-sample-based liquid biopsy tests in South East Asia and Singapore. This was followed by the commercial launch of this test in the U.S. in July 2022.

Regional Insights

The North America market for liquid biopsy led with a revenue share of 50.93% in 2022, owing to high cancer prevalence, rapid technological advancements, and growing government initiatives. Moreover, rapid advancements in technology and intense competition between biotechnology companies aided by recent FDA approvals for liquid biopsy tests are among the factors expected to boost regional market growth over the forecast period. For instance, in November 2020, the FDA approved the liquid biopsy NGS-based FoundationOne Liquid CDx test for multiple cancers and biomarkers.

On the other hand, Asia Pacific is projected to exhibit the fastest CAGR over the forecast period. Some of the factors contributing to the market growth are improving healthcare infrastructure, a growing population, and a rising number of companies entering the market. Asia Pacific has a large population, along with a high prevalence of cancer. According to Global Cancer Statistics 2020, an estimated one-half of all cases and around 58.3% of deaths occurred in Asia in 2020.

Thus, usage of screening tests for cancer has increased in the past few years, owing to growing government initiatives such as free screening for cervical, breast, & lung cancer, and increased collaborations between governments, research institutes, & companies for the distribution and supply of these tests.

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. For instance, in July 2022., Nanostics Inc. announced the launch of its validation study for its Nanostics’ ClarityDX diagnostic platform clinical study, which is a bladder cancer noninvasive liquid biopsy test. Some of the key players in the global liquid biopsy market include:

• ANGLE plc

• Oncimmune

• Guardant Health, Inc.

• 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

Liquid Biopsy Market Report Scope

Global Liquid Biopsy Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global liquid biopsy market report based on sample type, biomarker, technology, application, end-use, clinical application, product, and region:

• Sample Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • Blood Sample

  • Others

• Biomarker Outlook (Revenue, USD Billion, 2018 - 2030)

  • Circulating Tumor Cells (CTCs)

  • Circulating Tumor DNA (ctDNA)

  • Extracellular Vesicles (EVs)

  • Others

• Technology Outlook (Revenue, USD Billion, 2018 - 2030)

  • Multi-gene-parallel Analysis (NGS)

  • Single Gene Analysis (PCR Microarrays)

• Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Cancer

    • Lung Cancer

    • Prostate Cancer

    • Breast Cancer

    • Colorectal Cancer

    • Leukemia

    • Gastrointestinal Cancer

    • Others

  • Reproductive Health

  • Others

• End-use Outlook (Revenue, USD Billion, 2018 - 2030)

  • Hospitals and Laboratories

  • Specialty Clinics

  • Academic and Research Centers

  • Others

• Clinical Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Therapy Selection

  • Treatment Monitoring

  • Early Cancer Screening

  • Recurrence Monitoring

  • Others

• Product Outlook (Revenue, USD Billion, 2018 - 2030)

  • Instruments

  • Consumables Kits and Reagents

  • Software and Services

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait