Press release
Medical Billing Outsourcing Market Size Projected To Reach $31.58 Billion By 2034 With A Cagr Of 13.6%
Medical Billing Outsourcing
What Is the Projected Growth of the Liquid Biopsy Market?
The liquid biopsy market has experienced rapid growth in recent years. It is set to rise from $1.25 billion in 2024 to $1.46 billion in 2025, at a CAGR of 16.4%. This is due to advancements in cancer research, the appeal of non-invasive testing, the rise of personalized medicine, regulatory approvals, and early cancer detection efforts.
The liquid biopsy market is projected to see rapid growth in the next few years. It will grow to $2.76 billion in 2029, at a compound annual growth rate (CAGR) of 17.2%. The growth is attributed to expanding applications, cancer monitoring, emerging technologies, companion diagnostics, and biomarker discovery. Key trends include cancer detection, therapeutic monitoring, MRD monitoring, and liquid biopsy in non-oncological applications.
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What Are the Different Liquid Biopsy Market Segments?
The liquid biopsy market covered in this report is segmented -
1) By Product: Assays Kits, Instruments, Services
2) By Clinical Application: Early Cancer Screening, Therapy Selection, Treatment Monitoring, Recurrence Monitoring Orthopedics
3) By End User: Reference Laboratories, Hospitals and Physician Laboratories, Academic and Research Centers
Subsegments:
1) By Assays Kits: cfDNA Assays, ctDNA Assays, Exosome-based Assays, RNA-based Assays, Protein-based Assays
2) By Instruments: PCR Instruments, Next-Generation Sequencing (NGS) Instruments, Microarray Instruments, Mass Spectrometry Instruments
3) By Services: Testing Services, Data Analysis Services, Laboratory Services, Custom Assay Development Services
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What Are the Primary Drivers Shaping the Liquid Biopsy Market?
Government funding focused on enhancing cancer detection technologies is supporting the growth of the liquid biopsy market. These funds aid research in early cancer diagnosis and treatment. In 2022, the National Institutes of Health received $46.6 billion in funding, with $6.9 billion allocated to the National Cancer Institute. Such investments are accelerating advancements in liquid biopsy technologies.
Which Companies Are Leading in the Liquid Biopsy Market?
Major companies operating in the liquid biopsy market include QIAGEN NV, Roche Diagnostics Ltd., Bio-Rad Laboratories Inc., Myriad Genetics Inc., Guardant Health Inc., Thermo Fisher Scientific Inc., Menarini Silicon Biosystems, Biocept Inc., Janssen Diagnostics LLC, Trovagene Inc., Fraunhofer-Gesellschaft, MDX Health SA, Agilent Technologies Inc., Illumina Inc., Oxford Nanopore Technologies Ltd., Quantum Biosystems Inc., Menarini Silicon Biosystems Inc., Pathway Genomics Corporation, Sysmex Corporation, Janssen Global Services LLC, Natera Inc., ANGLE Plc, Bio Techne Corp, Biodesix Inc., CellMax Inc., CIRCULOGENE, Exact Sciences Corporation, Epic Sciences Inc., Exosome Diagnostics Inc., GRAIL Inc., Guardant Health AMEA, Inivata Ltd., NIPD Genetics, Oncocyte Corporation, Personal Genome Diagnostics Inc., RainDance Technologies Inc., Thrive Earlier Detection Corp.
What Trends Are Expected to Dominate the Liquid Biopsy Market in the Next 5 Years?
Businesses in the liquid biopsy market are focusing on advanced product launches to meet rising demand and maintain a competitive edge. In June 2023, Laboratory Corporation of America Holdings launched Labcorp Plasma Focus, a liquid biopsy test for detecting cancer biomarkers in patients with advanced tumors, helping doctors create personalized treatment plans.
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What Are the Top Revenue-Generating Geographies in the Liquid Biopsy Market?
North America was the largest region in the liquid biopsy market in 2023. Western Europe was the second largest region in the liquid biopsy market. The regions covered in the liquid biopsy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Liquid Biopsy Market?
2. What is the CAGR expected in the Liquid Biopsy Market?
3. What Are the Key Innovations Transforming the Liquid Biopsy Industry?
4. Which Region Is Leading the Liquid Biopsy Market?
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