BANGALORE, India, July 20, 2021 /PRNewswire/ -- Liquid Biopsy Market by Product & Service (Kits & Reagents, Platforms & Instruments, and Services), Circulating Biomarker (Circulating Tumor Cells, Extracellular Vesicles, Circulating Tumor DNA [ctDNA], and Other Biomarkers), Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer, and Other Cancers), and End User (Hospitals & Laboratories and Government & Academic Research Centers). It is published in Valuates Reports under Medical Facilities & Services Category.
The global Liquid Biopsy Market size accounted for USD 1,204.2 Million in 2020 and is estimated to reach USD 6,804.9 Million by 2028, registering a CAGR of 20.9% from 2021 to 2028.
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Major factors driving the growth of the liquid biopsy market are:
- Advancements such as next-generation sequencing for advanced cancer patients in liquid biopsies are expected to drive the market.
- An increase in the number of cancer patients and a rise in patient preference for minimally invasive therapies is fuelling the liquid biopsy market.
- Furthermore, an increase in healthcare expenditure in developing countries, such as India and China, and the use of liquid biopsy tests to treat rare cancers are expected to present ample opportunities for market growth.
TRENDS INFLUENCING LIQUID BIOPSY MARKET
An increase in the number of cancer patients is driving the liquid biopsy market. A liquid biopsy could aid in the detection of cancer at an early stage. It can also be used to aid in treatment planning, as well as to determine how well treatment is working and whether cancer has returned. The ability to take many blood samples over time may also aid doctors in determining what molecular alterations are occurring in a tumor.
Furthermore, an increase in preference for minimally invasive therapies is also fuelling the growth of the liquid biopsy market size. A liquid biopsy is a simple and non-invasive technology that allows scientists to track all genetic and epigenetic changes in solid tumors using a simple blood sample. As a result, all molecular parameters of thyroid cancers can be considered for liquid biopsy.
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LIQUID BIOPSY MARKET SHARE ANALYSIS
Based on product & service, due to the need for reagents to perform liquid biopsy tests and their applicability, the kits & reagent segment produced the most revenue in 2020.
Based on end-user, the liquid biopsy market share is projected to be dominated by the hospital and laboratory segment. This is due to the widespread use of liquid biopsy testing for cancer diagnosis in hospital settings.
Based on region, North America accounted for the largest share of the liquid biopsy market in 2020. The expansion of the North American liquid biopsy market is fueled by factors such as a high cancer prevalence rate, widespread use of novel liquid biopsy tests, the availability of improved healthcare infrastructure, and high healthcare expenditure. However, due to rising disposable income, increased government initiatives to upgrade healthcare infrastructure, and rising healthcare expenditure, Asia-Pacific is expected to have the greatest CAGR during the projection period.
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Key Market Segments
By Product & Service
- Kits & Reagents
- Platforms & Instruments
- Services
By Circulating Biomarker
- Circulating Tumor Cells
- Extracellular Vesicles
- Circulating Tumor DNA [ctDNA]
- Other Biomarkers
By Cancer Type
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Liver Cancer
- Other Cancers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Taiwan
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Turkey
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Companies:
- Bio Rad Laboratories
- Biocept
- GUARDANT HEALTH, INC
- Illumina Inc
- F Hoffmann La Roche Ltd
- Johnson & Johnson
- Laboratory Corporation of America Holdings
- MDxHealth SA,
- QIAGEN N V
- Thermo Fisher Scientific Inc
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SIMILAR REPORTS :
- The global breast cancer liquid biopsy market was valued at USD 87,641 thousand in 2019, and is projected to reach USD 357,051 thousand by 2027, registering a CAGR of 19.2% from 2019 to 2027.
- Global Liquid Biopsy IVD Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Circulating Tumor Cells, Circulating Tumor DNA, Extracellular Vesicles, Others, Application: Blood Sample Based, Urine Sample Based, Other Bio Fluids Based.
- Global Blood Collection Tubes for Liquid Biopsy Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Plastic, Glass, Application: IVD, Research Use.
- Global Cancer Biopsy Market Research Report contains Market Size, Market Share, Market Dynamics, Potter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product: Cancer Biopsy, Product-Type: Tissue Biopsies, Liquid Biopsies, Others, Application: Breast Cancer, Colorectal Cancer, Cervical Cancers, Lung Cancers, Prostate Cancers, Skin Cancers, Blood Cancers, Kidney Cancers, Others.
- The global biopsy devices market size was valued at USD 2,728 Million in 2018 and is expected to reach USD 4,310 Million by 2026, registering a CAGR of 5.9% during the forecast period.
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