Press release
Liquid Biopsy Market Massive Growth opportunity Ahead | Biocept, Roche Diagnostics, Trovagene
Liquid Biopsy Market
Market Snapshot
The liquid biopsy market is a segment of the healthcare and biotechnology industry that involves the development, manufacturing, and commercialization of non-invasive diagnostic tests designed to detect biomarkers and genetic material, typically in bodily fluids, with a primary focus on blood. These tests are used for disease detection, monitoring, and profiling, particularly in the field of oncology.
The Global Liquid Biopsy market was valued at USD 4.31 Billion in 2023 and is expected to reach USD 11.31 Billion by 2028, growing at a CAGR of 17.4 % during 2023-2028.
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Market Scope / Segment Breakdown
Global Liquid Biopsy market has been analyzed on various dimensions that includes market sizing and share analysis in dollar term as well as by volume* and price. The segments included in the market study are mentioned below which has been reviewed both qualitatively and quantitatively.
Based on the type, the market is bifurcated as Assays Kits, Instruments, Services, and On the basis of application, the market is divided as Oncology (Lung Cancer. Breast Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer and Other Cancer. The Services segment accounted for highest market share in 2022 and is hence expected to be the next fastest growing segment throughout the forecast period.
The report covers information regarding competitive outlook including the market share and company profiles of the key participants operating in the global Liquid Biopsy market. Some of the players that are profiled in the study are Biocept Inc. (United States), Qiagen N.V. (Netherlands), Roche Diagnostics (Switzerland), Bio-Rad Laboratories Inc. (United States), Myriad Genetics Inc (United States), Menarini-Silicon Biosystems (Italy), Trovagene Inc. (United States), Guardant Health Inc. (United States), Mdxhealth SA (Belgium), Genomic Health Inc. (United States) etc.
By Geography: North America, Europe, Southeast Asia, China, Japan, India, Middle East, Africa, LATAM, Others
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Qualitative Insights from Study
Liquid Biopsy Market Trends
• Early Cancer Detection: Liquid biopsies are increasingly being used for the early detection of cancer, potentially enabling the diagnosis of cancer at its earliest, most treatable stages.
• Companion Diagnostics: The development of targeted therapies and immunotherapies has led to an increasing demand for companion diagnostics that can identify patients who are most likely to benefit from specific treatments.
Liquid Biopsy Market Drivers
• Rising Incidence of Cancer: The growing prevalence of cancer cases, along with the need for non-invasive and convenient diagnostic methods, is driving demand for liquid biopsies.
• Minimally Invasive Nature: Liquid biopsies offer a less invasive and more patient-friendly alternative to traditional tissue biopsies, making them more appealing to patients and healthcare providers.
Liquid Biopsy Market Opportunity
• Regulatory Approvals: Obtaining regulatory approvals for liquid biopsy tests offers a significant opportunity for companies, as it allows them to commercialize their products for clinical use.
• Standardization and Quality Control: Opportunities exist for developing and promoting standardized procedures and quality control measures to ensure the reliability and consistency of liquid biopsy results.
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Research Objective
• To define and describe the Liquid Biopsy segmented by product & service, by application, by end-user, and by region.
• To estimate and forecast the Liquid Biopsy by value in USD Billion.
• To estimate and forecast the market size for various segments with regard to Region Name.
• To profile key players and comprehensively analyze their market position in terms of ranking and core competencies.
• To analyze the markets situation with regard to industry trends, prospects, and contribution to the total market by identifying the high-growth segments of the Liquid Biopsy and provide the competitive landscape.
• To provide industry attractiveness with help of various tools such as the Porter's five force analysis and the PESTEL analysis.
Market Size Estimation
Top-down and bottom-up approaches are used to validate the Global Liquid Biopsy Market size market and estimate the market size for Manufacturers, Type and Regions.
The market estimations in this report are based on the marketed sale price of Liquid Biopsy excluding any discounts provided by the manufacturer, distributor, wholesaler or traders. The percentage splits, market shares, and breakdowns of the product segments are derived based on weightages assigned to each of the segments based on their utilization rate and average sale price. The regional splits of the overall Liquid Biopsy market and its sub segments are based on the percentage adoption or utilization of the given product in the respective region or country.
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand Liquid Biopsy market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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sales@htfmarketintelligence.com
About Us:
HTF Market Intelligence is a leading market research company providing end-to-end syndicated and custom market reports, consulting services, and insightful information across the globe. HTF MI integrates History, Trends, and Forecasts to identify the highest value opportunities, cope with the most critical business challenges and transform the businesses. Analysts at HTF MI focuses on comprehending the unique needs of each client to deliver insights that are most suited to his particular requirements.
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