The Global Liquid Biopsy Market Evaluated to Acquire $4759.0 Million in Revenue by 2028

According to Triton’s report, the global liquid biopsy market, which reaped $1179.1 million in 2020, is envisioned to register growth at 18.54% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Liquid Biopsy Market’ of the Global Analysis and Forecasts by Clinical Application (Prognosis and Reoccurrence Monitoring, Diagnosis and Screening, Treatment Monitoring, Treatment Selection), Therapeutic Application (Prostate Cancer, Melanoma Cancer, Non-Oncology Application, Lung Cancer, Colorectal Cancer, Breast Cancer, Other Types of Cancer), Industry Verticals (Clinical Diagnostic Laboratories, Physicians’ Office Laboratories, Hospitals), Analysis Purpose (Therapy Guidance, Monitoring, Early Detection/Screening, Diagnosis), Product (Circulating Tumor Cells [CTCS], Extracellular Vesicles and Others, Circulating Tumor DNA [CTDNA], Cell-Free DNA [CFDNA]), Biomarker Type (Extracellular Vesicles, Nucleic Acid, Cells, Protein), Analysis Platform (NGS, Microarray, Proteomics, PCR, Other Analysis Platforms), and by Geography (Asia-Pacific, North America, Latin America, Europe, Middle East and Africa).

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Triton Market Research’s report predicts the global liquid biopsy market to surge at a CAGR of 18.54% during the estimated phase of 2021-2028, garnering revenue worth $4759 million by 2028.

Liquid biopsy, a non-invasion method, helps monitor cancer and other chronic diseases. It is gaining traction across regions as an alternative to tissue biopsy in reproductive health, transplant medicine, and cancer.

Factors such as the high prevalence of cancer in the geriatric population, the rising importance of liquid biopsy testing, and growing government initiatives are supporting the progress of the liquid biopsy market. Several governments are adopting various initiatives to influence people in opting for early cancer detection programs. Here, countries such as Australia, the UK, and the US are among the few developed nations that have made cancer check-ups mandatory for their citizens. However, the unavailability of skilled professionals, high cost of liquid biopsy tests, and lack of reimbursement are negatively impacting the global market’s expansion.

The global liquid biopsy market is segmenting into clinical application, therapeutic application, industry verticals, analysis purpose, product, biomarker type, and analysis platform. Based on clinical application, it is sectioned into prognosis and reoccurrence monitoring, diagnosis and screening, treatment monitoring, and treatment selection. Similarly, the therapeutic application is divided into prostate cancer, melanoma cancer, non-oncology application, lung cancer, colorectal cancer, breast cancer, and other types of cancer. Furthermore, industry verticals are branched into clinical diagnostic laboratories, physicians’ office laboratories, and hospitals. The analysis purpose is subdivided into therapy guidance, monitoring, early detection/screening, and diagnosis.

Additionally, product is categorized into circulating tumor cells [CTCS], extracellular vesicles and others, circulating tumor DNA [CTDNA], and cell-free DNA [CFDNA]. The biomarker type is sub-sectioned into extracellular vesicles, nucleic acid, cells, and protein. Lastly, the analysis platform is further divided into NGS, microarray, proteomics, PCR, and other analysis platforms.

The Asia-Pacific is estimated to become the fastest-growing in the liquid biopsy market over the forecast period 2021-2028. The region’s robust growth can be attributed to the large population base in China and India. This population growth is estimated to support the development of the regional market. Other than this, the surge in healthcare spending, paired with the rise in awareness about the use of liquid biopsy, opens several new opportunities for the market to leverage to reach its anticipated growth across the Asia-Pacific region.

Natera, Menarini-Silicon Biosystems, Illumina Inc, Guardant Health IncGrail, Becton Dickinson and Company (BD), Thermo Fisher Scientific Inc, Personal Genome Diagnostics, Biocept Inc, Angle Plc, MDxHealth SA, Myriad Genetics Inc, Adaptive Biotechnologies, Agilent Technologies Inc, Foundation Medicine, F Hoffmann-La Roche, Qiagen NV, and Bio-Rad Laboratories Inc are distinguished companies in the liquid biopsy market.

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Question & Answer: Liquid Biopsy Market

Question 1: What elements are supporting the progress of the liquid biopsy market?

Answer: Factors such as the high prevalence of cancer in the geriatric population, the rising importance of liquid biopsy testing, and growing government initiatives are supporting the progress of the liquid biopsy market. Several governments are adopting various initiatives to influence people in opting for early cancer detection programs. Here, countries such as Australia, the UK, and the US are among the few developed nations that have made cancer check-ups mandatory for their citizens.

Question 2: What factors are negatively impacting the liquid biopsy market’s expansion?

Answer: The unavailability of skilled professionals, high cost of liquid biopsy tests, and lack of reimbursement are negatively impacting the global market’s expansion.

Question 3: Which region is estimated to become the fastest-growing in the liquid biopsy market?

Answer: The Asia-Pacific is estimated to become the fastest-growing in the liquid biopsy market over the forecast period 2021-2028. The region’s robust growth can be attributed to the large population base in China and India. This population growth is estimated to support the development of the regional market. Other than this, the surge in healthcare spending, paired with the rise in awareness about the use of liquid biopsy, opens several new opportunities for the market to leverage to reach its anticipated growth across the Asia-Pacific region.

Question 4: Which are the distinguished companies in the liquid biopsy market.?

Answer: Natera, Menarini-Silicon Biosystems, Illumina Inc, Guardant Health IncGrail, Becton Dickinson and Company (BD), Thermo Fisher Scientific Inc, Personal Genome Diagnostics, Biocept Inc, Angle Plc, MDxHealth SA, Myriad Genetics Inc, Adaptive Biotechnologies, Agilent Technologies Inc, Foundation Medicine, F Hoffmann-La Roche, Qiagen NV, and Bio-Rad Laboratories Inc are distinguished companies in the liquid biopsy market.

Related Report:

Global Biopsy Device Market

The global biopsy device market is projected to display growth in its revenue during 2019-2027 at a CAGR of 6.81%. It is expected to attain revenue worth $3302.21 million by 2027.

Biopsy devices are becoming increasingly popular as a substitute for conventional screening methods for chronic conditions, including cancer. The biopsy device market is highly dependent on the incidence rate of cancer cases. Hence, the rising number of cancer cases directly enhances the demand for biopsy devices.

Factors such as the high occurrence of chronic diseases, growing public awareness about disease transmission, and surging diagnostics centers are motivating the development of the liquid biopsy market.

However, the shortage of skilled workforce, reimbursement issues, and elevated cost of biopsy techniques are impeding the global biopsy device market’s future growth significantly.

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