Liquid Biopsy Market: Driving Innovation in Healthcare

Liquid Biopsy Industry Overview

The global liquid biopsy market size was estimated at USD 10.42 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 11.60% from 2024 to 2030. The market for liquid biopsy is witnessing growth due to factors such as the growing prevalence of cancer, technological advancements in cancer diagnostics, and rising preference for minimally invasive cancer diagnostics. Moreover, ongoing research for liquid biopsy assays and tests, aided with the rising adoption and development of multi-cancer early detection tests, provides opportunity for growth of overall market.

With the onset of COVID-19 pandemic, cancer diagnoses were delayed due to reduced diagnostic services and screening programs. Cancer patients are facing many challenges amid the pandemic, such as susceptibility to severe infection and interruption of cancer or usual medical care. The negative impact is likely to be stronger in low- and middle-income countries with poor infrastructure, limited resources, scarcity of medical supplies & personal protective equipment, and shortage of healthcare providers & organized care teams, resulting in a lack of ability to provide & deliver critical care.

Gather more insights about the market drivers, restrains and growth of the Liquid Biopsy Market

For various applications, such as breast, colorectal, ovarian cancer, non-small-cell lung cancer, and prostate cancer, liquid biopsy is used for diagnostics & screening, making it a vital tool. After various studies and speculations, it has been derived that liquid biopsy technique could provide an improved diagnostic outcome. Data suggests the use of screening techniques on high-risk patients who have an ancestral history of cancer. Moreover, over the past several years, studies have shown positive outcomes of liquid biopsy platforms. The government and various regulatory bodies have also shown interest in the area by promoting multiple breakthrough devices for rapid development of the technology.

However, amid the pandemic, several companies have adopted various strategic initiatives for providing safe & easy in-home access for liquid biopsy tests. For instance, in November 2020, NeoGenomics, Inc. announced the launch of a mobile phlebotomy service for liquid biopsy tests, including InvisionFirst and NeoLAB. The company offers its service through two phlebotomy companies, Metro Health Staffing LLC and ExamOne, for broad geographic coverage to ensure tests are performed efficiently.

Key Companies profiled:

• 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

Key Liquid Biopsy Company 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.

Browse through Grand View Research's Clinical Diagnostics Industry Research Reports.

• The global liver disease diagnostics market size was valued at USD 35.37 billion in 2022 and is anticipated to grow at a CAGR of 6.5% from 2023 to 2030. One of the key factors anticipated to propel the market for liver disease diagnostics is the increasing number of acute and chronic liver illnesses.

• The global cancer diagnostics market size was estimated at USD 107.45 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.16% from 2024 to 2030. The growth of this industry is attributed to the growing prevalence of cancer, technological advancements in diagnostics procedures, and rising initiatives undertaken by private and public organizations.

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