High preference for non-invasive procedures, rising demand for diagnosis of cancer, increasing investments in research and development activities, and improving healthcare infrastructure are some key factors expected to fuel market revenue growth.
High preference for non-invasive procedures, rising demand for diagnosis of cancer, increasing investments in research and development activities, and improving healthcare infrastructure are some key factors expected to fuel market revenue growth
Market Size – USD 1.21 Billion in 2020, Market Growth – at a CAGR of 20.8%, Market Trend – Rapid advancements in biopsy treatment
Vancouver, B.C. February 28, 2022- Emergen Research has published its latest report titled, “Liquid Biopsy Market Size, Share, Trends, By Product (Assays Kits, Instruments, Services), By Circulating Biomarkers, By Sample Type (Blood, Urine, Other biofluids), By Disease (Oncology, Non-cancer Disease), By Application (Early Cancer Screening, Therapy Selection, Treatment Monitoring, Recurrence Monitoring Orthopedics), By End Use, and By Region Forecast to 2028”
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According to Emergen Research, the global liquid biopsy market size was USD 1.21 billion in 2020 and is expected to reach USD 5.53 billion in 2028 and register a revenue CAGR of 20.8% during the forecast period, 2021-2028.
Market Dynamics:
Liquid biopsy is a non-invasive diagnostic alternative to surgical biopsies that involves isolation and analysis of non-solid biological tissues, primarily blood, along with urine, saliva, and cerebrospinal fluid. It is a convenient and non-invasive diagnostic approach that can reflect modifications in tumor gene expression and provide an accurate diagnosis of cancer at an early stage. One of the key factors driving global market revenue growth is the increasing prevalence of cancer of lung, breast, prostate, colorectal, and melanoma worldwide.
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Various public and private sectors are heavily investing in R&D activities in order to support the development of advanced procedures and liquid biopsy techniques. Other factors such as rising awareness about early cancer diagnosis and treatments, increasing funds for research-based activities, and constant demand for assay kits and instruments in hospitals and clinics are expected to fuel market growth during the forecast period. However, low sensitivity for certain liquid biopsies, high cost of treatment, and limited awareness about the benefits of liquid biopsy procedures in developing economies are expected to hamper market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Instruments Segment to Register Steady Revenue Growth:
The instruments segment is expected to register a steady revenue growth over the forecast period. Increasing demand for latest liquid biopsy instruments and devices in hospitals and clinical laboratories, rapid advancements in PCR techniques, and increasing focus on developing advanced liquid biopsy instruments are expected to drive revenue growth of the segment over the forecast period.
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Oncology Segment to Account for Largest Revenue Share:
The oncology segment is expected to account for largest revenue share during the forecast period. This can be attributed to factors such as increasing prevalence of types of cancer across the globe, high demand for advanced cancer treatment, rising awareness about early cancer diagnosis and treatment, and growing number of cancer-based research studies.
North America to Lead in Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period owing to factors such as high prevalence of cancer, presence of leading players, and rapid advancements in liquid biopsy procedures. In addition, increasing awareness about early diagnosis and treatment, presence of highly developed healthcare systems, and increasing number of diagnostic laboratories across the region are expected to fuel North America market growth going ahead.
Major Companies in the Market Include:
- Bio-Rad Laboratories Inc.
- Thermo Fisher Scientific Inc.
- Adaptive Biotechnologies
- NeoGenomics Laboratories
- Guardant Health, Inc.
- RainDance Technologies, Inc.
- Biocept, Inc.
- Qiagen N.V.
- Trovagene, Inc.,
- F. Hoffmann-La Roche Ltd.
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For the purpose of this report, Emergen Research has segmented the global liquid biopsy market on the basis of product, circulating biomarkers, sample type, disease, application, end use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
- Assays Kits
- Instruments
- Services
Circulating Biomarkers Outlook (Revenue, USD Billion; 2018–2028)
- Circulating Tumor DNA (ctDNA)
- Circulating Tumor Cells (CTCs)
- Extracellular Vesicles (EVs)
- Cell-Free DNA (cfDNA)
- Other Circulating Biomarkers
Sample Type Outlook (Revenue, USD Billion; 2018–2028)
- Blood Sample based
- Urine Sample based
- Other Bio Fluids based
Disease Outlook (Revenue, USD Billion; 2018–2028)
- Oncology
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Colorectal Cancer
- Melanoma Cancer
- Others
- Non-cancer diseases
Application Outlook (Revenue, USD Billion; 2018–2028)
- Early Cancer Screening
- Therapy Selection
- Treatment Monitoring
- Recurrence Monitoring Orthopedics
End Use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals and Physician Laboratories
- Reference Laboratories
- Academic and Research Centers
- Others
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Regional Outlook (Revenue in Billion USD; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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