Liquid Biopsy Market Analysis
The global liquid biopsy market is likely to touch USD 17,372.28 million at a whopping 28.0% CAGR between 2014- 2022, according to the new report by Market Research Future (MRFR). Liquid biopsy, simply put, is a minimally invasive test used to assess the cancer genetic status resting on the analysis of the circulating biomarker, which is present in the blood’s plasma component. Some of its wide applications include reproductive health, cancer, and others.
Various factors are adding to the global liquid biopsy market growth. According to the new MRFR report, such factors include growing awareness regarding the diagnosis of different types of cancer, multiple benefits of liquid biopsy such as less labor required, low cost, identification of specific mutations, and quick analysis, and extensive R&D in the diagnosis and treatment of cancer. Besides, the rising prevalence of cancer and burgeoning demand for non-invasive testing are also adding market growth.
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On the contrary, tumor heterogeneity being the biggest challenge in cancer research may limit the global liquid biopsy market growth over the forecast period. Besides, the production process in its entirety being adversely impacted due to the temporary shutdown of industries and complete lockdown following the COVID-19 pandemic that has limited the overall blood collection tubes for the global liquid biopsy market is also hindering the market growth.
Liquid Biopsy Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global liquid biopsy market report based on end user, samples, application, and types.
By types, the global liquid biopsy market is segmented into extracellular vesicles (EVS), circulating tumor DNA (CTDNA), circulating tumor cells (CTCS), and others. Of these, the circulating tumor cells segment will lead the market over the forecast period.
By application, the global liquid biopsy market is segmented into reproductive health, cancer, and others.
By sample, the global liquid biopsy market is segmented into forensic, urine sample, blood sample, and others. Of these, the blood sample segment will dominate the market over the forecast period.
By end user, the liquid biopsy market is segmented into academic & research centers, hospitals and laboratories, and others. Of these, the hospitals and laboratories segment will have a major share in the market over the forecast period.
Liquid Biopsy Market Regional Analysis
Based on the region, the global liquid biopsy market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. Improving healthcare infrastructure, increasing prevalence of cancer, and surging demand for non-invasive treatment is adding to the global liquid biopsy market growth in the region. The US has the maximum share in the region.
The global liquid biopsy market in the APAC region is predicted to grow at a fast pace over the forecast period. The government’s focus on healthcare facilities, growing cancer cases, increased urbanization, and rising income are adding to the liquid biopsy market growth in the region.
The global liquid biopsy market in Europe is predicted to hold the second-largest share over the forecast period. Rising geriatric population, growing prevalence of cancer, and a huge base of research & academic institutes & biopharmaceutical companies are adding to the liquid biopsy market growth in the region.
The global liquid biopsy market in the MEA is predicted to have sound growth over the forecast period.
Liquid Biopsy Market Key Players
Eminent players profiled in the global liquid biopsy market report include Exosome Diagnostics (Massachusetts), SAGA Diagnostics AB (Sweden), Inivata Ltd (UK), Circulogene Theranostics (Alabama), Biocept, Inc. KGaA (US), Admera Health (US), Agena Bioscience Inc. (California), RainDance Technologies, Inc. (US), Trovagene, Inc. (California),and Guardant Health, Inc. (US).
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