Liquid Biopsy Market by Technology and Geography - Forecast and Analysis 2022-2026

The liquid biopsy market share is expected to increase to USD 1.74 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.77%.

This liquid biopsy market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The liquid biopsy market report offers vendor details for AccuraGen Holdings, Adaptive Biotechnologies Corp., ANGLE Plc, Bio Rad Laboratories Inc., Biocept Inc., CellMax Inc., Epigenomics AG, F. Hoffmann La Roche Ltd., GeneFirst Ltd., Guardant Health Inc., HansaBioMed Life Sciences Ltd., Illumina Inc., MDNA Lfe Sciences Inc., MDxHealth Group, NeoGenomics Laboratories Inc., QIAGEN NV, Rarecells Inc., SAGA Diagnostics AB, Siemens Healthcare GmbH, and Thermo Fisher Scientific Inc. among others.

This report further entails liquid biopsy market segmentation, including:

• Technology - CTC and ctDNA and Exosome and RNA
• Geography - North America, Europe, Asia, and Rest of World (ROW)

What will the Liquid Biopsy Market Size be During the Forecast Period?

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Liquid Biopsy Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post-COVID-19 era. The increasing incidence of cancer is notably driving the liquid biopsy market growth, although factors such as limited reimbursement may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the liquid biopsy industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Liquid Biopsy Market Driver

One of the key factors driving growth of the liquid biopsy market is the increasing incidence of cancer. Cancer is one of the leading causes of morbidity globally. Globally, the older population is growing rapidly and at a high risk of getting cancer, owing to the rise in average life expectancy. End-users are increasingly preferring liquid biopsy over tissue biopsy as it is non-invasive and can detect the presence of various cancers more effectively using the individual's blood sample. The increasing incidence of cancers will subsequently increase the diagnosis using the liquid biopsy method.

Key Liquid Biopsy Market Trend

The increasing funding/investment for fluid biopsy is a liquid biopsy market trend that is expected to have a positive impact in the coming years. Fluid biopsy gained momentum in the last few years, both as a research tool and as sophisticated diagnostics technology. Hence, the market attracted investors to fund the R&D of new technologies and the development and commercialization of fluid biopsy products. Many vendors, such as GRAIL, Guardant Health, Exosome Diagnostics, Pathway Genomics, and Inivata, received funding from various investors. In May 2019, Blood-based cancer detection firm Thrive Earlier Detection announced its launch, supported by $110 million in funding. The firm also announced plans to commercialize a circulating tumor DNA and protein testing method initially developed at Johns Hopkins University and undergoing validation in a 10,000-person trial with Pennsylvania's Gesinger Health system.

Key Liquid Biopsy Market Challenge

The limited reimbursement will be a major challenge for the liquid biopsy market during the forecast period. Currently, the reimbursement and treatment monitoring for fluid biopsy is limited, and it is performed in a few laboratories. Moreover, reimbursement for fluid biopsy tests in oncology is not guaranteed even after approval, as it is still considered a novel and unproven technique. The reimbursement coverage depends on the type of cancer, early or late screening procedure, and the type of therapy selected. Reimbursement for fluid biopsy is either low in developed countries or not available in a few countries. A fluid biopsy is a new technology in the market, which is highly adopted in developed countries. In developing countries, though there is a high market opportunity, technology is not much adopted. In developing countries such as China and India, a tissue biopsy is mostly preferred over a fluid biopsy. Lack of reimbursement and awareness about fluid biopsy can decline its adoption, which can hinder market growth.

This liquid biopsy market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global fluid biopsy market in North America as a part of the global healthcare supplies market that primarily covers manufacturers of medical products, including all categories of supplies such as consumables and disposables like safety needles, syringes, and catheters. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the liquid biopsy market during the forecast period.

Who are the Major Liquid Biopsy Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• AccuraGen Holdings
• Adaptive Biotechnologies Corp.
• ANGLE Plc
• Bio Rad Laboratories Inc.
• Biocept Inc.
• CellMax Inc.
• Epigenomics AG
• F. Hoffmann La Roche Ltd.
• GeneFirst Ltd.
• Guardant Health Inc.
• HansaBioMed Life Sciences Ltd.
• Illumina Inc.
• MDNA Lfe Sciences Inc.
• MDxHealth Group
• NeoGenomics Laboratories Inc.
• QIAGEN NV
• Rarecells Inc.
• SAGA Diagnostics AB
• Siemens Healthcare GmbH
• Thermo Fisher Scientific Inc.

This statistical study of the liquid biopsy market encompasses successful business strategies deployed by the key vendors. The liquid biopsy market is fragmented and the vendors are deploying growth strategies such as aiming to differentiate their products based on device quality, the accuracy of results, and associated value-added services to compete in the market.

Product Insights and News

• Bio Rad Laboratories Inc. - Bio Rad Laboratories Inc. is a public company headquartered in the US. It is a global company generating $2,922.54 million in revenues and has around 7,900 employees. Its revenue from the global fluid biopsy market is a key component of its overall revenues. 
• Bio Rad Laboratories Inc. - The company offers fluid biopsy such as in the form of fluid which used for the diagnosis and monitoring of disease states, including cancer.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The liquid biopsy market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Liquid Biopsy Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the liquid biopsy market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Liquid Biopsy Market?

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55% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for liquid biopsy in North America. Market growth in this region will be slower than the growth of the market in the European and Asian regions.

The increasing number of cancer cases, increasing adoption of technologically advanced biopsy tests, growing older population, high expenditure on the screening of various types of cancers, and the increasing number of biotechnology and pharmaceutical companies pushing demand for anti-cancer drug development will facilitate the liquid biopsy market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had a slight negative impact on the fluid biopsy market in the region. A rise in the number of COVID-19 cases in Q1 2021 led to the imposition of partial lockdowns in several countries, including Canada and Mexico. However, by H2 2020, lockdown restrictions in various countries were lifted to some extent which allowed the movement of people. This led to an increase in the number of people visiting diagnostic centers and hospitals.

What are the Revenue-generating Technology Segments in the Liquid Biopsy Market?

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The liquid biopsy market share growth by the CTC and ctDNA segment will be significant during the forecast period.  ctDNA test is most preferred, as it is highly sensitive and allows analysis of DNA sequence and methylation. Also, it allows timely and dynamic monitoring of tumor progression and can decrease the diagnosis bias from tumor heterogeneity. Vendors are focusing on the development of novel methods for capturing CTCs and ctDNAs to detect a vast array of cancers before the physical manifestation of symptoms and to track the progression of tumors throughout treatment. Companies are also working to explore ctDNA fluid biopsy to detect the emergence of resistant clones, which limits the remission times achieved in patients treated with targeted therapies and to correlate findings from ctDNA with patient outcomes.

This report provides an accurate prediction of the contribution of all the segments to the growth of the liquid biopsy market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Liquid Biopsy Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive liquid biopsy market growth during the next five years
• Precise estimation of the liquid biopsy market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the liquid biopsy industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of liquid biopsy market vendors

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