I haven't tried to replicate the math, but at Linked In, Pierre Arsene repors that liquid biopsy stocks generated $50B in market cap this year. He's including companies who's market is partially in liquid biospy, but still.
His article is here:
His market is given as:
- Exact Sciences
- Natera
- Tempus AI
- Guardant Health
- Adaptive Biotechnologies
- Grail
- GeneDx
- BillionToOne
- Caris Life Sciences
"Daniel G" made an interesting remark, quoting in part:
- Over the same period, many liquid biopsy and precision diagnostics companies have either disappeared from public markets, been acquired at distressed valuations, or quietly failed to translate scientific promise into sustainable, reimbursed clinical businesses. [aka survivor bias]
- Capital is not rewarding liquid biopsy per se — it is rewarding reimbursement visibility, guideline inclusion, operating scale, and disciplined execution. The winners built infrastructure, not just technology.
