Liquid Biopsy Market 2030: How China is Shaping the Future of Cancer Diagnostics

The global liquid biopsy market was valued at USD 10.42 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 11.60% from 2024 to 2030. The market's growth is primarily driven by several key factors, including the rising prevalence of cancer worldwide, continuous technological advancements in cancer diagnostics, and an increasing preference for minimally invasive diagnostic methods for cancer detection. Additionally, ongoing research into liquid biopsy assays and tests, along with the growing adoption and development of multi-cancer early detection tests, is expected to create further opportunities for market expansion.

The COVID-19 pandemic had a significant impact on cancer diagnoses, leading to delays in diagnostic services and screening programs due to restrictions and overburdened healthcare systems. Cancer patients also faced numerous challenges during this period, including increased vulnerability to severe infections and disruptions in their regular cancer treatments or other necessary medical care. These challenges were particularly pronounced in low- and middle-income countries, where poor healthcare infrastructure, limited resources, a shortage of medical supplies and personal protective equipment, and a lack of adequately trained healthcare providers and organized care teams hampered the ability to deliver essential medical services, further intensifying the impact of the pandemic on cancer care.

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

Regional Insights

North America Liquid Biopsy Market Trends

North America held the largest share of the global liquid biopsy market, accounting for 50.76% of the revenue in 2023. This dominance can be attributed to several factors, including the high prevalence of cancer in the region, rapid advancements in medical technology, and strong government support for cancer research and diagnostics. The United States leads this market, driven by substantial investments and the presence of numerous biotechnology companies that are focused on the development of innovative diagnostic tests. In addition, prominent organizations such as the American Society of Clinical Oncology (ASCO) are actively promoting the adoption of liquid biopsy, which is expected to contribute to revenue growth in this segment. Furthermore, the market is anticipated to continue expanding over the forecast period due to increasing competition among biotechnology firms and the growing investments from governments into healthcare systems, aimed at advancing the development of more sophisticated diagnostic tests.

Asia Pacific Liquid Biopsy Market Trends

In the Asia Pacific region, the liquid biopsy market is projected to grow at the highest compound annual growth rate (CAGR) of 13.09% during the forecast period. Several factors are driving this rapid growth, including ongoing healthcare reforms that are improving access to medical services, as well as the rising population and increasing cancer prevalence in the region. According to Global Cancer Statistics, there were an estimated 10.5 million new cases of cancer in Asia in 2022, highlighting the region's significant cancer burden. In response to this, various governments in Asia are implementing initiatives such as free cancer screening programs for breast, cervical, and lung cancers, which are making liquid biopsy tests more accessible. Additionally, collaborations between governments, research institutes, and private companies are improving the distribution and availability of these tests for cancer screening, further fueling market growth. The entry of new players into the market is also helping to expand the availability of advanced diagnostic tools and drive innovation in the region.

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Key Companies & Market Share 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.

Key Liquid Biopsy Companies: