Global Liquid Biopsy Market Outlook 2028

A liquid biopsy is a non-invasive method to obtain liquid samples from a patient. Most commonly used samples for liquid biopsy are blood, plasma, or serum, but they can also be derived from other biological liquids, such as cerebrospinal fluid and urine among others. The global liquid biopsy market is anticipated to grow with a CAGR of 30.7% during the forecast period, i.e., 2020-2028. Factors such as the growing incidences of cancer, followed by the rise in research and developments in the field of medical sciences, are estimated to drive the market growth. In the year 2020, globally, 19.3 Million cancer cases were registered, according to the statistical report GLOBOCAN 2020, released by the International Agency for Research on Cancer (IARC). Owing to the rise in cancer cases, the need for early diagnostic and treatment is growing at a significant pace, which is anticipated to create opportunities for market growth. Further, growing need for minimally invasive or non-invasive medical processes, and the increasing investments of government of nations to promote advancements in the field of medical sciences are also expected to contribute to the market growth. The global liquid biopsy market attained revenue of close to USD 3160 Million in 2019 and is estimated to garner over USD 25800 Million in 2028.

The market is segmented into numerous segments, which include segmentation by product, biomarker type, sample, clinical application, disease indication, end-user, and by region. Based on product type, the market is segmented into tools, assay kits & reagents, and services. Out of these segments, the tools segment is estimated to hold the highest share of close to 70% in 2021 and further garner around USD 17800 Million by the end of 2028.

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, out of which, the market in the North America is estimated to hold the leading market share of 36% approximately and attain a revenue of over USD 9300 Million by the end of 2028.

Some of the key players in the global liquid biopsy market that are mentioned in our report are Qiagen, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, Inc., Illumina, Inc., Inivata Limited, Agena Bioscience, Inc., Thermo Fisher Scientific, Guardant Health, Inc. and others.