Market Insights

The liquid biopsy market was estimated at USD 2.83 billion in 2022 and is expected to grow at a CAGR of 17.99% during 2023-2028 to reach USD 7.64 billion in 2028.

The report estimates the current and future demand for Liquid Biopsy Market at the global, regional, as well as country-level. The report also studies all the major suppliers of the market located across the globe. The vital data/information offered in the report can play an important role for the market participants in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies in order to expedite their growth process. This exclusive report is the outcome of an exclusive research methodology including primary research and secondary research.

The following are the key features of the report:

·       Market structure: Overview, industry life cycle analysis, supply chain analysis.

·       Market environment analysis: Growth drivers and constraints.

·       Market segment trend and forecast.

·       Competitive landscape and dynamics.

·       Attractive market segments and associated growth opportunities.

·       Emerging trends.

·       Key success factors.

Key Players

• Biocept Inc.
• Bio-Rad Laboratories
• F. Hoffmann-La Roche Ltd.
• Guardant Health Inc.
• Illumina, Inc.
• Johnson & Johnson
• Laboratory Corporation of America Holdings
• MDxHealth SA
• QIAGEN N.V.
• Thermo Fisher Scientific Inc.

Market Dynamics

The liquid biopsy market is driven by several factors, including the increasing prevalence of cancer and other diseases, the need for non-invasive diagnostic methods, and the growing demand for personalized medicine. Here are some of the key drivers of the liquid biopsy market:

• Cancer Prevalence: The rising incidence of cancer is one of the main drivers of the liquid biopsy market. As cancer rates continue to increase, there is a growing need for non-invasive and accurate methods of diagnosing and monitoring the disease.
• Non-Invasive Diagnostic Methods: Liquid biopsy provides a non-invasive alternative to traditional tissue biopsies, which can be invasive and painful for patients. This is particularly important for patients with advanced cancer or other conditions that make traditional biopsies difficult or risky.
• Personalized Medicine: Liquid biopsy provides doctors with a wealth of information about a patient's disease, including the specific mutations and biomarkers that may be driving the disease. This information can help doctors tailor treatment plans to the individual patient, leading to better outcomes.
• Technological Advancements: Advances in liquid biopsy technology, including improvements in sensitivity and specificity, are driving the adoption of this approach in clinical practice.
• Research Funding: Increased funding for research into liquid biopsy is fuelling innovation in this field, leading to new technologies and applications that are driving the market growth.

Segment Analysis

The liquid biopsy market is segmented into cancer and non-cancer applications. Cancer application is further sub-segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, melanoma, and others. The cancer segment is likely to grow significantly at an exponential CAGR, during the forecast period, largely due to the increasing number of cancer cases and increasing demand for liquid biopsy for diagnosis. In addition, the increasing number of research studies on liquid biopsy for cancer applications is further expected to drive the growth of the market during the forecast period.

The market is segmented as multi-gene parallel analysis using NGS and single-gene analysis using PCR microarrays. Between these two technology types, the single-gene analysis using the PCR microarrays segment is expected to be dominant in the market over the forecast period. The segment's growth can be attributed to the use of PCR, which is increasing due to its increasing use for various purposes, including detecting fungal infections, bacterial infections, gene mapping, and other genomic applications. PCR tests' quick and real-time diagnostic results are accurate, and they can guide targeted therapies for cancer treatment. PCR is rapidly gaining popularity and is expected to grow at a rapid pace in the coming years.

Reference laboratories are expected to be the dominant segment of the market during the forecast period.

The market is segmented as reference laboratories, hospitals and physician laboratories, academic & research centers, and others. The outsourcing of liquid biopsy tests to reference laboratories is expected to drive market growth over the forecast period.

Among these regions, Asia-Pacific is expected to be the fastest-growing region in the market during the forecast period.

In 2022, North America had the highest revenue share of over 50%. Due to higher investments and the existence of numerous biotechnology businesses developing tests in the U.S., this region dominates the most.

The market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. The region is distinguished by rising disposable income, increasing healthcare expenditure, growing awareness of liquid biopsy techniques, and rising adoption of advanced diagnostic techniques in hospitals, clinics, and diagnostic laboratories. The growing penetration of hospitals and diagnostic centers in the region is likely to bolster the growth of the market over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Frequently Asked Questions (FAQs)

-        What will be the size of the Liquid Biopsy Market in the coming years?

-        Who are the key players in the Liquid Biopsy Market and what are their market shares?

-        Which region is expected to remain the largest Liquid Biopsy Market?

-        Which region is expected to witness the highest growth in the Liquid Biopsy Market?

-        What are the key strategies adopted by the major vendors to lead in the Liquid Biopsy Market?

Report Customization Options

With this detailed report, Stratview Research offers customization options to the clients. This includes detailed company profiling of additional market players, Competitive Benchmarking of key players on the parameters like: Product portfolio, geographical reach, regional presence, and strategic alliances.

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