Market Overview:
Liquid biopsy involves using blood samples to detect cancer DNA and proteins rather than using invasive surgical procedures like tumors. It has advantages like being non-invasive, allowing for repeated sampling, early detection and monitoring of disease progression and response to therapies. With advancements in genomic and proteomic techniques, liquid biopsy provides crucial information that helps in detecting and treating cancer at an early stage.
Market key trends:
One of the major trends in the market is the increased adoption of cloud computing. Cloud computing services allow users to access advanced bioinformatics tools and data storage capacity through the cloud without upfront investment in local servers and data storage hardware. This frees up resources that can be used elsewhere, improves collaboration between research teams globally and aids in faster research and development. Cloud computing has played a vital role in accelerating research in liquid biopsy by making large volumes of genomic and proteomic data generated from patient samples accessible through the cloud.
Segment Analysis
The global Liquid Biopsy Market Share is segmented based on products, circulating biomarkers, applications, end-users and region. Based on products, the market is segmented into instruments and consumables. The consumables segment dominated the global market in 2023 and is expected to continue its dominance over the forecast period due to increasing utilization of assays, kits and enzymes for biomarker analysis. Based on circulating biomarkers, the market is categorized into circulating tumor cells, circulating tumor DNA, and cell-free DNA. The circulating tumor DNA segment captured the largest share of the market in 2023 due to its higher sensitivity as a biomarker for cancer detection.
Key Takeaways
The global liquid biopsy market is expected to witness high growth, exhibiting CAGR of 16.% over the forecast period, due to increasing prevalence of cancer and rising preference for non-invasive diagnostic techniques.
Regional analysis: North America captured the largest share in the global liquid biopsy market in 2023 owing to increasing R&D investments, rising prevalence of cancer and advanced healthcare infrastructure in this region. Asia Pacific is anticipated to witness fastest growth during forecast period due to growing awareness regarding advanced cancer diagnostic tools and increasing healthcare expenditure.
Market size: The global liquid biopsy market size was valued at US$ 5.25 Bn in 2023 and is projected to reach US$ 17.50 Bn by 2030 as more hospitals and diagnostic centers are adopting this technique for real-time cancer monitoring during treatment.
Key players: Key players operating in the liquid biopsy market are Bio-Rad Laboratories, Guardant Health, Horizon Discovery, Qiagen NV and LungLife AI Inc. Bio-Rad Laboratories captured the largest market share in 2023 due to its diverse product portfolio and strong geographical presence across major markets.
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