Market Size of Fluid Biopsy Industry
Study Period | 2021 - 2029 |
Market Size (2024) | USD 6.11 Billion |
Market Size (2029) | USD 13.05 Billion |
CAGR (2024 - 2029) | 16.40 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Fluid Biopsy Market Analysis
The Fluid Biopsy Market size is estimated at USD 6.11 billion in 2024, and is expected to reach USD 13.05 billion by 2029, growing at a CAGR of 16.40% during the forecast period (2024-2029).
COVID-19 had a significant impact on the fluid biopsy market during the pandemic period. The increasing developments of fluid biopsy in the diagnosis of COVID-19 are expected to contribute to the growth of the market. For instance, the article published in the JAMA network in March 2021 mentioned that researchers at Cornell University developed a "liquid biopsy" that detected and quantified injury to internal organs from the COVID-19 virus. This liquid biopsy test profiled epigenetic changes in circulating cell-free DNA-small fragments of genetic material from dead cells, including those killed off by infection or immune-related injury. Thus, such developments in liquid biopsy for the COVID-19 infection had a notable impact on the growth of the market during the pandemic period. Also, the demand for fluid biopsy is expected to remain intact during the post-pandemic period due to the increasing focus on various chronic and infectious diseases, thereby contributing to the growth of the market over the forecast period.
The market is expected to grow because there are more cases of cancer around the world and more people want non-invasive diagnostic procedures.
As per the World Health Organization fact sheet published in February 2022, in 2021, there were an estimated 1.9 million new cancer cases diagnosed in the United States. The report also mentioned that each year, approximately 400,000 children worldwide develop cancer estimated 1.9 million new cancer cases diagnosed in the United States. The report also mentioned that each year, approximately 400,000 children worldwide develop cancer. Cervical cancer is the most common in 23 countries, such as Eswatini, India, South Africa, Latin America, and others. The most common cancers are breast, lung, colon, rectum, and prostate cancers. Thus, the higher cases of cancer are generating demand for fluid biopsy due to its non-invasive diagnostic procedure, thereby contributing to the growth of the market.
Also, the market players' initiatives, such as partnerships, mergers, product launches, and product developments, are expected to boost the growth of the market. For instance, in December 2021, Epic Sciences Inc. launched DefineMBC, a novel metastatic breast cancer (MBC) test that includes both cell-based and cell-free analysis from a single blood draw. Define MBC provides comprehensive MBC profiling when a tissue biopsy result is not available. Additionally, in March 2021, Sysmex Europe GmbH, in partnership with Sysmex Inostics GmbH, launched Plasma-SeqSensei liquid biopsy Research Use Only (RUO) kits for colorectal cancer, non-small cell lung cancer, melanoma, and thyroid cancer.
Thus, the rising cases of cancer across the world and innovative product developments are expected to contribute to the growth of the market. Over the next few years, however, the growth of the market is likely to be slowed by the growing popularity of alternative technologies like optical biopsies.