Liquid Biopsy Market Trend – Industry Forecast 2021-2026

The increasing preference for noninvasive treatment procedures, the
rising incidence and prevalence of cancer, and awareness initiatives
undertaken by global health organizations are the major factors driving
the liquid biopsy market growth.

According
to research report the global liquid biopsy market size is projected to
reach $5.8 billion by 2026 from $2.5 billion in 2021, at a CAGR of
18.1% during the forecast period.In 2020, the cancer application segment
accounted for the largest share of the liquid biopsy industry.
The market is segmented by Product (Assay Kits, Instruments, Service),
Circulating Biomarkers (CTC, ctDNA), Technology (NGS, PCR), Application
(Cancer (Lung, Breast, Prostate), Non-Cancer), End User (Reference Lab,
Hospitals) Geography

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• Based
  on product service, the liquid biopsy market is segmented into assay
  kits, instruments, and services. In 2020, the assay kits segment
  accounted for the largest share of the liquid biopsy industry. The
  standard purchase requirement of assay kits makes them a recurrent cost
  which is a key factor attributing to the growth of this segment.
• Based
  on application, the liquid biopsy market is segmented into cancer and
  non-cancer applications. In 2020, the cancer application segment
  accounted for the largest share of the liquid biopsy industry. The large
  share of this segment can be mainly attributed to factors such as the
  increasing prevalence of cancer and the growing number of research
  studies on liquid biopsy for cancer applications.
• Based
  on clinical application, the liquid biopsy market is segmented into
  therapy selection, treatment monitoring, recurrence monitoring, and
  early cancer screening. The therapy selection segment accounted for the
  largest share of the global liquid biopsy industry in 2020. The benefits
  of noninvasiveness, assessing tumor heterogeneity, real-time treatment
  monitoring, and detecting recurrence before significant tumor formation
  or metastasis are factors expected to drive the market for therapy
  selection.
• Based on end user, the market has been
  segmented into reference laboratories, hospitals and physician
  laboratories, academic research centers, and other end users. In 2020,
  the reference laboratories segment accounted for the largest share of
  the market. The large share of the reference laboratories segment can be
  attributed to the increasing outsourcing of liquid biopsy tests to
  reference laboratories.
• The global liquid biopsy market
  has been segmented into four major regions—North America, Europe, the
  Asia Pacific, and the Rest of the World. North America accounted for the
  largest share of the market. The large share of this regional segment
  can be attributed to highly developed healthcare systems in the US and
  Canada, many leading national clinical laboratories, and the easy
  accessibility to technologically advanced instruments.

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This study involved four major activities in estimating the current size of the liquid biopsy market.
Exhaustive secondary research was carried out to collect information on
the market, its peer markets, and its parent market. The next step was
to validate these findings, assumptions, and sizing with industry
experts across the value chain through primary research. Both top-down
and bottom-up approaches were employed to estimate the complete market
size. After that, market breakdown and data triangulation procedures
were used to estimate segments and subsegments’ market size.

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