Liquid Biopsy Market Aims to Expand at Double-Digit Growth Rate | Johnson & Johnson, Laboratory Corporation of America Holdings

The global liquid biopsy market accounted for $1,204.20 million in 2020, and is estimated to reach at $6,804.90 million by 2028, registering a CAGR of 20.9% from 2021 to 2028. Liquid biopsies are non-invasive blood tests that detect tumor DNA & RNA fragments and circulating tumor cells (CTCs), which are released into the blood from the primary tumors and metastatic sites. This results in liquid biopsy to be potentially less expensive as compared to surgical biopsies.

Liquid biopsy is a simple and precise alternative to surgical biopsies, which allows physicians & surgeons to detect & treat cancer at an early stage and acquire tumor information through blood samples. Liquid biopsy also enables the detection of cancer recurrence at earlier than traditional diagnosis methods. Early diagnosis enabled by liquid biopsy tests help healthcare professionals to improve various cancer treatments.

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Currently, there are several liquid biopsies in development for oncology. These technological applications and services are being developed for various purposes from research to screening & early detection, assessing biomarker, and providing insights on prognosis & treatment selection. Moreover, some of these tests focus on specific cancer and others are being developed as screening tool for multiple solid tumor cancers.

Rise in incidences and prevalence of various cancer types, advantages of liquid biopsy technology, surge in demand of non-invasive procedures, and favorable government initiatives supplement the market growth. However, lack of awareness about cancer and its risk factors, along with limited access to advanced cancer diagnostics technologies in developing regions are expected to hinder the market growth. Furthermore, advantages of liquid biopsy over traditional invasive diagnostics methods is expected to present lucrative growth opportunities for the market.

The liquid biopsy market is categorized on the basis of product & service, cancer type, circulating biomarker, end user, and region. By product & service, it is divided into kits & reagents, platforms & instruments, and services. By cancer type, it is classified into lung cancer, breast cancer, colorectal cancer, prostate cancer, liver cancer, and other cancers. By circulating biomarker, it is categorized into circulating tumor cell, extracellular vesicle, circulating tumor DNA [ctDNA], and other biomarkers. By end user, it is classified into hospital & laboratory and government & research centers. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Prominent players operating in the global liquid biopsy market include Bio-Rad Laboratories, Inc, Biocept Inc., Guardant Health Inc., Illumina, Inc., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Laboratory Corporation of America Holdings, MDxHealth SA, QIAGEN N.V., and Thermo Fisher Scientific Inc. Product development is the key strategy adopted by the market players to establish their foothold in the market.

List of the other key players (not included in the report) includes ArcherDX, Inc., CellMax Life, Epigenomics AG, GRAIL Inc., Freenome Holdings Inc, and others.

KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global liquid biopsy market with current trends and future estimations from 2021 to 2028 to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
- Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the market.

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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
o North America
? U.S.
? Canada
? Mexico
o Europe
? UK
? Germany
? France
? Italy
? Spain
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? Australia
? South Korea
? Taiwan
? Rest of Asia-Pacific
o LAMEA
- Brazil
- Turkey
- Saudi Arabia
- South Africa
- Rest of LAMEA

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This release was published on openPR.