Press release
Global Liquid Biopsy Market Size, Industry Analysis Report By Type, By Application, By Route of administration, by End User, By Distribution channel, & Region - Forecasts 2022-2030
The global liquid biopsy market size was valued at USD 7.05 billion in 2022 and is expected to grow at a CAGR of 14.4% during the forecast period. By using a blood sample as a non-invasive substitute for surgical biopsies, liquid biopsy enables medical professionals to learn more about a tumor and tailor the treatment accordingly. It can provide a solid foundation for customized therapy and reflect changes in the tumor gene expression profile. It helps with medication resistance, tumor heterogeneity, and early diagnosis screening. In addition, it finds mutations in the EGFR gene, which are found in patients with non-small cell lung cancer (NSCLC).Growth Factors:
Worldwide, there is an increase in cancer patients as a result of sedentary lifestyles and increased cigarette use. One of the main reasons propelling the market is this, along with the rising public awareness of sophisticated minimally invasive (MI) techniques in cancer diagnostics. Additionally, governments in numerous nations are funding research and development (R&D) initiatives to support the launch of cutting-edge cancer treatments. These institutions also make large investments in the growth of the healthcare sector, which presents profitable prospects for industry participants to expand.
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Market Trends:
• The rising incidence of cancer among the world's population and growing knowledge of the existence of many non-invasive treatments are the main factors driving the global liquid biopsy market.
• Breast cancer is now the most prevalent type of cancer diagnosed worldwide due to the increased prevalence of the disease among females. Around 2.5 million new cases of breast cancer were reported in 2022, with prostate, colorectal, and lung cancers following closely after.
• The new liquid biopsy method has a number of advantages, including quick results, low price, early prognosis, eliminating tumor heterogeneity, low risk, and non-invasiveness.
• As a result of early cancer detection, tumour progression monitoring, and clinical prognosis assessment capabilities, liquid biopsy technology is experiencing market expansion.
Market Key Players:
F. Hoffmann-La Roche Ltd. (Switzerland), Myriad Genetics, Inc. (US), QIAGEN (Netherlands), Thermo Fisher Scientific, Inc. (US), Guardant Health, Inc. (US), MDxHealth SA (Belgium), Exact Sciences Corporation (US), Illumina Inc. (US), Sysmex Inostics (US), Bio-Rad Laboratories, Inc. (US), Biocept, Inc. (US), NeoGenomics, Inc. (US), ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), Vortex Biosciences, Inc. (US), Exosome Diagnostics, Inc. (US), Agena Bioscience, Inc. (US), MedGenome Inc. (US), Epigenomics AG (Germany), and Personal Genome Diagnostics, Inc. (US)
Market Regional Analysis:
The solid system of healthcare facilities, growing investment from major players in the development of advanced devices, an increasing number of processes for drug development, the strict regulatory environment in the pharmaceutical industry, and the increasing number of research activities in this region all contribute to North America's dominance of the liquid biopsy market. Due to the rise in policy measures to raise awareness, an increase in medical tourism, expanding research activities in the region, an increase in cancer cases, and an increase in the demand for high-quality healthcare in the region, Asia-Pacific is predicted to experience significant growth during the forecast period.
North America
Europe
Asia-Pacific
South America
MEA
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Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Reasons to Purchase this Report:
Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
Provision of market value (USD Billion) data for each segment and sub-segment
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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