Dublin, Nov. 25, 2022 (GLOBE NEWSWIRE) — The “Liquid Biopsy Market by Product (Test Kits, Instruments), Circulating Biomarkers (CTC, ctDNA), Technology (NGS, PCR), Application (Cancer (Lung, Breast) , Non-Cancer), Specimen Type (Blood), End User (Reference Laboratory, Hospitals) – Global Forecast to 2027” report has been added to ResearchAndMarkets.com offer.
The global liquid biopsy market is projected to reach USD 10.0 billion by 2027 from USD 4.3 billion in 2022, at a CAGR of 18.3% during the forecast period. The growth of the market is being driven by factors such as the increasing global prevalence of cancers and the growing need for early diagnosis coupled with efficient treatment monitoring and recurrence detection. They are expected to sustain the growth of the global liquid biopsy market. The liquid biopsy also makes it possible to detect cancer recurrence earlier than traditional methods of diagnosis. Early diagnosis made possible by liquid biopsy tests helps healthcare professionals improve various cancer treatments. On the other hand, the lower sensitivity of some liquid biopsies could curb the growth of this market.
Test kits segment accounted for the highest growth rate in the liquid biopsy market, by product and service, during the forecast period
The liquid biopsy market is segmented into test kits, tools, and services based on product and service. In 2021, the test kit segment accounted for the fastest growth rate in the liquid biopsy market. The accessibility of a wide range of reagents and kits and the simple availability for a wide range of assays are the major factors driving the growth of the liquid biopsy test kit market.
The non-oncology applications segment accounted for the highest CAGR
Based on the application, the liquid biopsy market is segmented into oncology and non-oncology applications. In 2021, the non-oncology applications segment accounted for the fastest growth rate. This can be attributed to the growing research activity in NIPT, organ transplant diagnosis and infectious diseases.
Asia Pacific: Fastest growing liquid biopsy market in the region
The global liquid biopsy market is segmented into North America, Europe, Asia Pacific and Rest of the World. The Asia-Pacific region is expected to experience the highest CAGR during the forecast period.
The Asia-Pacific region is expected to register the highest CAGR during the forecast period. Factors such as increased healthcare spending by a larger population base, modernization of healthcare infrastructure, and increasing penetration of cutting-edge clinical laboratory technologies (especially in rural areas). These factors are expected to provide significant growth opportunities for liquid biopsy companies operating in this region.
APAC, which is becoming a hub of medical tourism, is considered one of the fastest growing markets for medical procedures and devices. Low infrastructure and treatment costs and the availability of highly trained doctors have driven medical tourists to APAC countries. This is an important factor driving the growth of the market in this region.
- Increased incidence and prevalence of cancer
- Cancer awareness initiatives undertaken by global health organizations
- Increasing preference for non-invasive treatment procedures
- Less sensitive than some liquid biopsy procedures
- Growing importance of complementary diagnostics
- Growth opportunities in emerging countries
- Refund scenario unclear
Main topics covered:
2 Research methodology
3 Executive Summary
4 premium insights
5 Market overview
6 Liquid Biopsy Market, by Product and Service
7 Liquid biopsy market, circulating biomarkers
8 Liquid Biopsy Market, by Technology
9 Liquid Biopsy Market, by Application
10 Liquid Biopsy Market, By Clinical Application
11 Liquid Biopsy Market, by Specimen Type
12 Liquid Biopsy Market , by End User
13 Liquid Biopsy Market, by Regions
14 Competitive landscape
15 company profiles
- Agena Bioscience, Inc.
- Angular PLC
- Anpac Bio-Medical Science Co. Ltd.
- Bio-Rad Laboratories, Inc.
- Biocept, Inc.
- Epigenomics AG
- Society of Exact Sciences
- Exosome Diagnostics, Inc.
- F. Hoffmann-La Roche AG
- Freenome Holdings, Inc.
- Guardian Health, Inc.
- Illumina, Inc.
- Lucence Health Inc.
- Lunglife AI, Inc.
- Medgenome Inc.
- Menarini-Silicon biosystems
- Myriad Genetics, Inc.
- Neogenomics, Inc.
- Personal Genome Diagnostics, Inc.
- Qiagen NV
- Philosophy of life sciences
- Sysmex Inostics (Subsidiary of Sysmex Corporation)
- Thermo Fisher Scientific, Inc.
- Vortex Biosciences, Inc.
For more information about this report, please visit https://www.researchandmarkets.com/r/gwyymm
Global liquid biopsy market