Natera, Inc. (US) and QIAGEN (Netherlands) are Leading Players in the Liquid Biopsy Market
The liquid biopsy market is valued at an estimated USD 6.4 billion in 2024 and is projected to reach USD 11.3 billion by 2029 at a CAGR of 11.9% during the forecast period. Growth in the liquid biopsy market is mainly driven by factors such as the awareness initiatives undertaken by global health organizations and the increased benefits of liquid biopsy over traditional biopsy procedures.
The key players in this market are Natera, Inc. (US), QIAGEN (Netherlands), Myriad Genetics, Inc. (US), Illumina, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Thermo Fisher Scientific Inc. (US), Guardant Health (US), Bio-Rad Laboratories, Inc. (US), Exact Sciences Corporation (US), Sysmex Corporation (Japan), Biocept, In. (US), mdxhealth (US), Personalis, Inc. (US), NeoGenomics Laboratories (US), Epigenomics AG (Germany), ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), Vortex Biosciences (US), Bio-Techne (US), MedGenome (US), Mesa Labs, Inc. (US), Laboratory Corporation of America Holdings (US), Freenome Holdings, Inc. (US), Strand (India), LungLife AI, Inc. (US), and Lucence Health Inc. (US).
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In 2023, Natera, Inc. (US) emerged as the top player in the liquid biopsy market. The company’s success in this market can be attributed to its strong global sales and distribution network, which enables it to effectively market its products in various countries. Additionally, Natera has increased its focus on research & development (R&D) activities to develop more unique and better products than its competitors. Its investments in R&D and capital allocation strategies help fuel its future growth and ability to remain competitive in the market. Furthermore, the company’s strategies, which involve strategic collaborations and acquisitions, aim to further solidify its position in the liquid biopsy market.
In 2023, QIAGEN (Netherlands) commanded a substantial market share within the liquid biopsy market. The company has maintained a strong position in the market through its extensive distribution networks in America, Europe, the Middle East & Africa, and Asia Pacific. The company's marketing approach centers on delivering innovative, distinct, and top-tier products throughout the entire value chain. QIAGEN also invests heavily in research & development and employs organic growth strategies to strengthen its position in the market. To maintain its position in the market, the company employs both organic and inorganic strategies. For instance, in April 2023, QIAGEN launched the QIAseq Targeted cfDNA Ultra Panels, which will enable researchers studying cancer and other diseases to turn cell-free DNA (cfDNA) liquid-biopsy samples into libraries ready for next-generation sequencing (NGS) in less than eight hours.
In 2023, Myriad Genetics, Inc. (US) held a prominent position in the liquid biopsy market. The company has established a strong position in the liquid biopsy market owing to its significant investments in R&D activities. Furthermore, to maintain this position, it mainly adopts inorganic growth strategies, such as collaborations and partnerships to garner a larger market share. For instance, in September 2023, the company announced a collaboration with Memorial Sloan Kettering Cancer Center (MSK) to study the use of minimal residual disease (MRD) testing in breast cancer.
Related Reports:
Liquid Biopsy Market by Product & Service (Kits, Instruments), Circulating Biomarker (CTC, ctDNA, cfDNA), Technology (NGS, PCR), Application (Cancer (Lung, Breast, Prostate), Non-cancer (NIPT, Infectious)), Sample Type (Blood) - Global Forecast to 2029
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