Liquid Biopsy Market Size, Share, Growth, Analysis, Report, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Global Liquid Biopsy Market Share, Price, Trends, Growth, Report and Forecast 2023-2028, gives an in-depth analysis of the Liquid Biopsy, assessing the market based on its segments like application, sample type, biomarker, technology, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 1,250 Million
• Forecast CAGR (2023-2028): 22%
The cases of cancers are increasing worldwide. As per the World Health Organisation, around 10 million mortalities and more than 19 million new cases of cancer were registered in 2020 all across the world. Due to this, liquid biopsy is gaining recognition for tumour analysing. Many cancer patients can be cured using liquid biopsy in the early diagnosis/early stages. Therefore, initiatives to implement and develop liquid biopsy have been introduced by the government globally.
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Industry Definition and Major Segments
Liquid biopsy is an efficient method for the early diagnosis of cancer in a person. It is a non-invasive method, as opposed to surgical biopsy in which the tumour is obtained directly. In place of this, physicians can analyse the biomarkers, that is, circulating tumour cells and circulating cell-free tumour DNA present in the blood drawn from a person’s arm or a urine sample to detect and characterise tumours. It is a useful method in the early detection of cancer and aids to monitor the tumour growth and assess the clinical approach to be taken in terms of treatment.
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By Application, the market is segmented into:
• Therapy Selection for Metastatic Breast Cancer
• Therapy Selection for Other Metastatic Cancer
• Molecular Health Monitoring
By Sample Type, the market can be segmented into:
• Blood Sample Based
• Urine Sample Based
Based on Biomarker, the market is segmented into:
• Circulating Tumor Cells
• Circulating Tumor DNA
On the basis of technology, the market is divided into:
• Multi-Gene-Parallel Analysis Using NGS
• Single Gene Analysis Using PCR Microarrays
The regional markets for the Global Liquid Biopsy Market can be separated into:
• North America
o United States of America
o United Kingdom
• Asia Pacific
• Latin America
• The Middle East and Africa
o Saudi Arabia
o United Arab Emirates
o South Africa
North America is expected to hold a significant market share during the forecast period. It is owing to high healthcare spending by the government, well-developed infrastructure for cancer diagnosis, significant research funding, and awareness of the people towards cancer treatments. Asia-Pacific is expected to witness considerable growth owing to increasing cases of cancer in the region as well as rising awareness related to cancer.
Moreover, the circulating tumour DNA segment of the biomarker type is estimated to hold a considerable share. It is due to the rapid technological advancements, such as the application of next-generation sequencing technologies in the liquid biopsy process for the circulating tumour DNA biomarker analysis.
Key Market Players
The major players in the market include Biocept, Inc., F. Qiagen N.V., Bio-Rad Laboratories, Inc., NeoGenomics Laboratories, Inc., Guardant Health, Inc., and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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