Global Liquid Biopsy Market: Full Year 2015-2027 Results | Estimated To Be Worth USD 791.6 Million In 2019 And Is Projected To Reach USD 2890.6 Million By 2027: Proficient Market
At Proficient Market, Global Liquid Biopsy Market research report presents a comprehensive overview of market size, share, evolution, trends, and forecast, and growth opportunities of liquid biopsy market by product type, application, key manufacturers and key regions and countries. This report offers comprehensive analysis on global liquid biopsy market along with, market trends, drivers, and restraints of the liquid biopsy market. In-depth study of market size with data Tables, Bar & Pie Charts, and Graphs & Statistics which helps easy to understand detailed breakdown of market.
According to the report, Global Liquid Biopsy Market in 2019 stood at USD 791.6 million and is expected to reach USD 2890.6 million by 2027 growing at a CAGR of 20.2% from 2020 to 2027.
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Liquid biopsy is a minimal invasive medical procedure with the ability to detect the presence of molecular cancer biomarkers in the biological fluids. The derived test results help the doctors in deciding the further steps in the treatment of the patient suffering from cancer. The test principally involves the usage of samples of biological fluids, such as blood, urine, serum, and saliva, among others, and then the enrichment of the samples using different techniques, such as Next generation Sequencing (NGS), and Polymerase Chain Reaction (PCR), to detect the mutations known to cause cancer.
Liquid Biopsy Market Key Players: The research study includes profiles of leading companies operating in the global liquid biopsy market. Key players profiled in the report include:
Bio-Rad Laboratories Inc.
Menarini Silicon Biosystems
Thermo Fisher Scientific Inc.
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Biocept & TrovageneRoche Diagnostics (Switzerland), launched AVENIO circulating tumor DNA (ctDNA) Analysis Kits. The kits include all reagents, bioinformatics and software to make ctDNA testing accessible to all NGS laboratories.
Drivers for the Global Liquid Biopsy Market: The key factors driving the growth of this market include increasing prevalence of cancer, increasing preference for noninvasive procedures, and availability of funding for liquid biopsy R&D. Moreover, the increasing prevalence of cancer cases is playing a major role in the growth of the liquid biopsy market. The Americas is the major contributor in the liquid biopsy market partly due to the prevalence of cancer treatment and its research as well as the rising older population in the Americas. The rising older population is playing a key role in the increased adoption of liquid biopsy tests.
Opportunities for the Global Liquid Biopsy Market: The growing demand for noninvasive and easy sample collection and the faster diagnosis of cancer is witnessed to augment the growth of the liquid biopsy market during forecasted period. With huge investments and growing evidence of the uses/applications of liquid biopsy, companies are increasingly looking to move into the liquid biopsy market. The market is witnessing a surge in the number of inorganic developments such as partnerships, collaboration, agreements, mergers, and acquisitions. Companies are focusing on inorganic strategies primarily to obtain access to innovative technologies of other players. Companies are also teaming up with universities and cancer institutes to gain robust R&D expertise.
Restrains for the Global Liquid Biopsy Market: Increased regulations on LDTs by the FDA slower the growth of the molecular diagnostics industry as well as liquid biopsy technologies. This is also likely to increase the costs associated with introducing new tests and delay their introduction in the market. Besides regulatory challenges, reimbursement challenges also exist in the liquid biopsy market. Owing to the lack of desired sensitivity and specificity, physicians and laboratories cannot fully rely on liquid biopsies and have to use tissue biopsies in conjugation with liquid biopsies for diagnosing cancer. This factor is likely to restrain the growth of the market.
Region Wise, Global Liquid Biopsy Market Analysis: Global Liquid biopsy market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, North America leads the global Liquid biopsy market share followed by Asia Pacific & Europe. While the North America leads the global Liquid biopsy market due to the rising older population in the Americas. The rising older population is playing a key role in the increased adoption of liquid biopsy tests. While Growing demand for non-invasive treatment, rising incidence of cancer, and improving healthcare infrastructure are driving the growth of the liquid biopsy market.
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Global Liquid Biopsy Market: Product analysis
On the basis of type, the assay kit accounted for largest share of total revenue generated. Because of the factors such as the increasing demand for liquid biopsy tests, increasing applications of liquid biopsies, and the need for reliable and specific assays are driving the liquid biopsy market. Thus all these factors are boosting this segment which led to the growth of the liquid biopsy market.
Global Liquid Biopsy Market: Application analysis
Hospitals and Physician Laboratories
Academic and Research Centers
The demand of Global Liquid Biopsy Market is highest from Reference laboratories as they form the largest and fastest-growing end-user segment of the liquid biopsy market. The can be attributed to the large volume of tests being outsourced to reference laboratories from oncologists and hospitals. Thus all these factors are boosting this sector which led to the growth of the liquid biopsy market.
Global Liquid Biopsy Market: Region analysis
North America: U.S., Canada, Mexico
Europe: U.K., France, Germany, Spain, Italy, Rest of Europe
Asia Pacific: China, Japan, South Korea, ASEAN, India
Rest of Asia Pacific: Latin America, Brazil, Argentina, Colombia, Rest of L.A.
Middle East and Africa: Turkey, GCC, UAE, South Africa, Rest of Middle East
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