Press release
Liquid Biopsy Market was valued at USD 2.55 Bn. in 2023. Global Liquid Biopsy Market size is expected to grow at a CAGR of 20.9 percentage
Liquid Biopsy Market
Liquid Biopsy Market was valued at USD 2.55 Bn. in 2023. Global Liquid Biopsy Market size is expected to grow at a CAGR of 20.9 percentage through the forecast period.
Liquid Biopsy Market Overview:
The global liquid biopsy market, valued at USD 2.55 billion in 2023, is anticipated to grow at a robust CAGR of 20.9% through 2030. Liquid biopsy offers a non-invasive, efficient, and repeatable method for cancer detection, monitoring, and personalized treatment, distinguishing itself from traditional tissue biopsy. This technique has gained traction for its ability to detect early cancer stages, track tumor progression, assess therapy responses, and identify recurrent or refractory cancers. The market's growth is driven by advancements in technology and increasing interest in liquid biopsy as a viable alternative to invasive procedures, particularly in the wake of the COVID-19 pandemic, which has highlighted the need for effective cancer diagnostics.
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Drivers in the Liquid Biopsy Market:
The surge in global cancer incidence and prevalence significantly propels the liquid biopsy market. Environmental factors, lifestyle changes, and infectious diseases have contributed to the rising number of cancer cases, making early and accurate detection crucial. Liquid biopsy offers numerous advantages over traditional diagnostic methods, such as lower costs, non-invasive procedures, and the ability to monitor tumor heterogeneity and drug resistance, enhancing its appeal among patients and healthcare providers alike.
Liquid Biopsy Market Trends:
Recent trends in the liquid biopsy market include the dominance of next-generation sequencing (NGS) technologies, which account for a substantial share of the market. NGS enables the detection of a wide array of genetic mutations with high precision, driving its adoption in cancer diagnostics. Additionally, advancements in biomarkers like circulating tumor DNA (ctDNA) are expanding the applications of liquid biopsy, offering new avenues for cancer detection and monitoring. The market is also witnessing increased interest in exosome-based assays, which are emerging as promising tools for early cancer detection.
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Liquid Biopsy Market Opportunities:
The growing prominence of companion diagnostics presents a significant opportunity for the liquid biopsy market. Companion diagnostics, which help tailor treatments based on individual responses, are becoming increasingly important in oncology. The integration of liquid biopsy with companion diagnostics can enhance drug development and personalized treatment strategies, thereby expanding market opportunities. Additionally, the ongoing advancements in technology and increasing demand for efficient cancer diagnostics are likely to drive further growth in this sector.
What is Liquid Biopsy Market Regional Insight?
North America leads the global liquid biopsy market, capturing a significant share due to substantial investments and the presence of numerous biotechnology firms. The United States, in particular, benefits from strong support from organizations like the American Society of Clinical Oncology (ASCO) and extensive FDA-approved testing options. Canada is also advancing in this field with notable government funding and investments aimed at developing liquid biopsy assays. The competitive landscape and regulatory support in these regions are expected to continue driving market growth throughout the forecast period.
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Segmentation Analysis of the Liquid Biopsy Market
by Product
Assay Kits
Instruments
by Technology
Multi-gene-parallel Analysis (NGS)
Single Gene Analysis (PCR Microarrays)
by Application
Cancer
Non- Cancer
by End User
Reference Lab
Hospitals
Who is the largest manufacturers of Liquid Biopsy Market worldwide?
1. F. Hoffmann-La Roche Ltd. (Switzerland)
2. Myriad Genetics, Inc. (US)
3. QIAGEN N.V. (Netherlands)
4. Thermo Fisher Scientific, Inc. (US)
5. Guardant Health, Inc. (US)
6. MDxHealth SA (Belgium)
7. Exact Sciences Corporation (US)
8. Illumina Inc. (US)
9. Sysmex Inostics (US)
10. Bio-Rad Laboratories, Inc. (US)
11. Biocept, Inc. (US)
12. NeoGenomics, Inc. (US)
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Key Offerings:
Past Market Size and Competitive Landscape
Liquid Biopsy Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Liquid Biopsy Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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