The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The liquid biopsy market has experienced a remarkable surge in recent years, demonstrating exponential growth from $6.61 billion in 2023 to an anticipated $8.64 billion in 2024, boasting an outstanding Compound Annual Growth Rate (CAGR) of 30.8%. This growth surge is attributed to significant advances in cancer research, the non-invasiveness of liquid biopsies, personalized medicine trends, regulatory approvals, and the crucial aspect of early cancer detection.

Anticipated Growth: A Glimpse into the Future
The market is poised for continued strength, with projections indicating a meteoric rise to $27.44 billion in 2028, showcasing an even more impressive CAGR of 33.5%. The anticipated growth is fueled by expanding applications, cancer monitoring, emerging technologies, the role of liquid biopsy in companion diagnostics, and the continued exploration of biomarkers. Notable trends in this forecast period include cancer detection and monitoring, therapeutic monitoring, minimal residual disease (MRD) monitoring, and the exploration of liquid biopsy in non-oncological applications.

Growing Prevalence Of Cancer Driving Liquid Biopsy Market Growth

• Rising Cancer Cases: The increasing prevalence of cancer is a key driving force behind the growth of the liquid biopsy market.
• Cancer-Specific Biomarkers: Liquid biopsy detects cancer-specific biomarkers like circulating tumor DNA (ctDNA) and circulating tumor cells (CTCs), enabling non-invasive cancer diagnosis and monitoring.
• Statistics by ACS: According to the American Cancer Society Inc., over 1.9 million new cancer cases are expected to be diagnosed in the USA in 2023.
• Market Leaders: Major players in this market include QIAGEN NV, Roche Diagnostics Ltd., Bio-Rad Laboratories Inc., and others.

Increasing Focus On Introducing Large Liquid Biopsy Panels To Gain A Competitive Edge

• Strategic Innovation: Major companies are strategically developing large liquid biopsy panels to gain a competitive edge.
• Comprehensive Disease Monitoring: Large liquid biopsy panels analyze various biomarkers to detect and monitor a wide range of diseases, with a primary focus on cancer.
• Tempus Labs Inc.’s xF+ Panel: In June 2022, Tempus Labs Inc. launched its largest clinically available liquid biopsy panel, xF+, covering a broader range of genes and incorporating predictive biomarkers for the effectiveness of cancer immunotherapies.

View More On The Liquid Biopsy Market Report 2024 – https://www.thebusinessresearchcompany.com/report/liquid-biopsy-global-market-report

 Strategic Acquisitions: Quest Diagnostics and Haystack Oncology Inc.

• Quest Diagnostics Acquisition: In June 2021, Quest Diagnostics acquired Haystack Oncology Inc., a move aimed at incorporating MRD liquid biopsy technology into Quest Diagnostics’ cancer diagnostics portfolio.
• Early Detection Capability: The acquisition enhances the ability to detect residual or recurring cancer early, providing crucial guidance for treatment choices.
• Liquid Biopsy Pioneer: Haystack Oncology Inc. is recognized for its contribution as a provider of liquid biopsy technology.

Market Segmentation for Comprehensive Insights

• By Product: Assays Kits, Instruments, Services.
• By Clinical Application: Early Cancer Screening, Therapy Selection, Treatment Monitoring, Recurrence Monitoring Orthopedics.
• By End User: Reference Laboratories, Hospitals and Physician Laboratories, Academic and Research Centers.

Regional Dominance: North America Takes the Lead

• North America: Emerging as the largest region in the liquid biopsy market in 2023, showcasing the region’s significant contribution to market growth.

In conclusion, the liquid biopsy market is not only witnessing exceptional growth but is also reshaping the landscape of cancer diagnostics. The emphasis on non-invasiveness, personalized medicine, and the continuous exploration of innovative technologies positions liquid biopsy as a transformative tool in the fight against cancer. As the market continues to evolve, collaborations, strategic acquisitions, and the development of comprehensive panels are expected to drive further advancements, offering new avenues for early detection and personalized treatment strategies.

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