The global liquid biopsy market accounted for $1,204.20 million in 2020, and is estimated to reach at $6,804.90 million by 2028, registering a CAGR of 20.9% from 2021 to 2028. Liquid biopsies are non-invasive blood tests that detect tumor DNA & RNA fragments and circulating tumor cells (CTCs), which are released into the blood from the primary tumors and metastatic sites.
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This results in liquid biopsy to be potentially less expensive as compared to surgical biopsies. Currently, there are several liquid biopsies in development for oncology. These technological applications and services are being developed for various purposes from research to screening & early detection, assessing biomarker, and providing insights on prognosis & treatment selection. Moreover, some of these tests focus on specific cancer and others are being developed as screening tool for multiple solid tumor cancers. Liquid biopsy is a simple and precise alternative to surgical biopsies, which allows physicians & surgeons to detect & treat cancer at an early stage and acquire tumor information through blood samples. Liquid biopsy also enables the detection of cancer recurrence at earlier than traditional diagnosis methods. Early diagnosis enabled by liquid biopsy tests help healthcare professionals to improve various cancer treatments.
Rise in incidences and prevalence of various cancer types, advantages of liquid biopsy technology, surge in demand of non-invasive procedures, and favorable government initiatives supplement the market growth. However, lack of awareness about cancer and its risk factors, along with limited access to advanced cancer diagnostics technologies in developing regions are expected to hinder the market growth. Furthermore, advantages of liquid biopsy over traditional invasive diagnostics methods is expected to present lucrative growth opportunities for the market.
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The liquid biopsy market is categorized on the basis of product & service, cancer type, circulating biomarker, end user, and region. By product & service, it is divided into kits & reagents, platforms & instruments, and services. By cancer type, it is classified into lung cancer, breast cancer, colorectal cancer, prostate cancer, liver cancer, and other cancers. By circulating biomarker, it is categorized into circulating tumor cell, extracellular vesicle, circulating tumor DNA [ctDNA], and other biomarkers. By end user, it is classified into hospital & laboratory and government & research centers. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
– The study provides an in-depth analysis of the global liquid biopsy market with current trends and future estimations from 2021 to 2028 to elucidate the imminent investment pockets.
– Comprehensive analysis of factors that drive and restrict the market growth is provided
– Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
– Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
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Key Market Segments
List of key players profiled in the report
– Bio-Rad Laboratories, Inc
– Biocept Inc.
– Guardant Health Inc.
– Illumina, Inc.
– F. Hoffmann-La Roche Ltd.
– Johnson & Johnson
– Laboratory Corporation of America Holdings
– MDxHealth SA
– QIAGEN N.V
– Thermo Fisher Scientific Inc. ArcherDX, Inc., CellMax Life, Epigenomics AG, GRAIL Inc., Freenome Holdings Inc, and others.
BY PRODUCT & SERVICE
– Kits & Reagents
– Platforms & Instruments
– Services
BY CIRCULATING BIOMARKER
– Circulating Tumor Cells
– Extracellular Vesicles
– Circulating Tumor DNA [ctDNA]
– Other Biomarkers
BY CANCER TYPE
– Lung Cancer
– Breast Cancer
– Colorectal Cancer
– Prostate Cancer
– Liver Cancer
– Other Cancers ?
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BY REGION
o North America
? U.S.
? Canada
? Mexico
o Europe
? UK
? Germany
? France
? Italy
? Spain
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? Australia
? South Korea
? Taiwan
? Rest of Asia-Pacific
o LAMEA
– Brazil
– Turkey
– Saudi Arabia
– South Africa
– Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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