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How has the liquid biopsy market grown in recent years?

In recent times, the liquid biopsy market has seen substantial growth. The market size is expected to increase from $1.25 billion in 2024 to $1.46 billion in 2025, marking a compound annual growth rate (CAGR) of 16.4%. The historical growth in this market is attributed to various factors including progress in cancer research, the non-invasive nature of the procedure, the rise of personalized medicine, regulatory approvals, and the capacity for early cancer detection.

How is the liquid biopsy market size expected to evolve during the forecast period?

In the coming years, the market size for liquid biopsy is projected to experience rapid expansion. It is predicted to reach $2.76 billion by 2029, with a compound annual growth rate (CAGR) of 17.2%. The predicted growth during this period is due to increasing applications, cancer monitoring, emerging technologies, partner diagnostics, and biomarker discovery. Key trends expected during this time frame include cancer detection and monitoring, therapeutic monitoring, monitoring of minimal residual disease (mrd), and the application of liquid biopsy in non-oncological areas.

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Which key drivers are propelling the liquid biopsy market’s growth?

The liquid biopsy market is propelled by governmental funding aimed at enhancing cancer detection techniques. These funds are instrumental in aiding researchers with drug discovery, along with the diagnosis and treatment of medical conditions like Cancer. For example, in 2022, the US-based medical research organization, National Institute of Health (NIH), received a funding of $46.6 billion. Out of this, the National Cancer Institute (NCI), an American agency specializing in cancer research, was granted $6.9 billion for furthering research on cancer. As a result, such governmental funding profoundly influences the growth trajectory of the liquid biopsy market.

What are the market segments in the liquid biopsy industry?

The liquid biopsy market covered in this report is segmented –

1) By Product: Assays Kits, Instruments, Services

2) By Clinical Application: Early Cancer Screening, Therapy Selection, Treatment Monitoring, Recurrence Monitoring Orthopedics

3) By End User: Reference Laboratories, Hospitals and Physician Laboratories, Academic and Research Centers

Subsegments:

1) By Assays Kits: cfDNA Assays, ctDNA Assays, Exosome-based Assays, RNA-based Assays, Protein-based Assays

2) By Instruments: PCR Instruments, Next-Generation Sequencing (NGS) Instruments, Microarray Instruments, Mass Spectrometry Instruments

3) By Services: Testing Services, Data Analysis Services, Laboratory Services, Custom Assay Development Services

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Which leading companies are shaping the growth of the liquid biopsy market?

Major companies operating in the liquid biopsy market include QIAGEN NV, Roche Diagnostics Ltd., Bio-Rad Laboratories Inc., Myriad Genetics Inc., Guardant Health Inc., Thermo Fisher Scientific Inc., Menarini Silicon Biosystems, Biocept Inc., Janssen Diagnostics LLC, Trovagene Inc., Fraunhofer-Gesellschaft, MDX Health SA, Agilent Technologies Inc., Illumina Inc., Oxford Nanopore Technologies Ltd., Quantum Biosystems Inc., Menarini Silicon Biosystems Inc., Pathway Genomics Corporation, Sysmex Corporation, Janssen Global Services LLC, Natera Inc., ANGLE Plc, Bio Techne Corp, Biodesix Inc., CellMax Inc., CIRCULOGENE, Exact Sciences Corporation, Epic Sciences Inc., Exosome Diagnostics Inc., GRAIL Inc., Guardant Health AMEA, Inivata Ltd., NIPD Genetics, Oncocyte Corporation, Personal Genome Diagnostics Inc., RainDance Technologies Inc., Thrive Earlier Detection Corp.

What key trends are currently impacting the liquid biopsy market’s development?

In order to cater to the growing demand for liquid biopsy products and services, companies are swiftly adapting to newer market dynamics and prioritizing the launch of innovative products. These strategies are aimed at driving their revenue growth and acquiring a competitive advantage over other market players. For illustration, Laboratory Corporation of America Holdings, a healthcare company based in the US, introduced Labcorp Plasma Focus, a liquid biopsy test, in June 2023. The test is designed to identify cancer-linked biomarkers in patients suffering from advanced or metastatic solid tumors. It involves studying the cell-free DNA (cfDNA) found in a patient’s blood sample to build a genomic profile of their tumor. This information assists oncologists in improving patient healthcare management through the formulation of individualized, highly targeted therapeutic approaches. Thus, the development of advanced products in the liquid biopsy industry is attracting substantial investment from companies.

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Which geographic areas are influencing the growth of the liquid biopsy market?

North America was the largest region in the liquid biopsy market in 2023. Western Europe was the second largest region in the liquid biopsy market. The regions covered in the liquid biopsy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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