Surge in number of cancer patients and rise in preference for minimally invasive procedures are some key factors driving liquid biopsy market revenue growth
VANCOUVER, BC, CANADA, April 14, 2022 /EINPresswire.com/ — The Global Liquid Biopsy Market size is expected to reach USD 5.53 Billion in 2028 and register a steady revenue CAGR of 20.8% during the forecast period, according to latest analysis by Emergen Research. Rise in demand for early detection of cancer is a key factor driving global liquid biopsy market revenue growth.
Liquid biopsy is a safe and popular procedure carried out during examination of cancer. The procedure is easy and minimally invasive, allows early detection and diagnosis of cancer, and helps in identification of cancer treatment. Surge in preference for non-invasive procedures is driving private and public funding to support research activities in the liquid biopsy field. Liquid biopsies allow medical professional to discover various aspects of a tumor through a patient’s blood sample. It facilitates medical professionals to understand which treatments are suitable for which patients.
Development of liquid biopsy has led to a better understanding of molecular diagnostics of circulating tumor DNA. Increased adoption of liquid biopsy in cancer is due to its potential of non-invasive detection of targeted genomic alteration in correspondence to targeted therapy. Non-cancerous application of liquid biopsy includes diagnosis of heart attack, and atherosclerosis. Advancements in next-generation sequencing for patients with advanced stages of cancer is also driving market growth.
Top competitors of the Liquid Biopsy Market profiled in the report 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., and F. Hoffmann-La Roche Ltd.
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Research on liquid biopsy has expanded recently, generating an entirely new field of study. Both industry and academic researchers from various areas of expertise are working on developing, refining, and establishing clinical uses for liquid biopsy tests. For instance, InterVenn Biosciences announced completion of USD 201 million Series C financing in August 2021. The funding will be used to speed up development and commercialization of InterVenn’s Dawn, which is a liquid biopsy assay for immune checkpoint inhibitor response prediction.
Some Key Highlights from the Report:
Assay Kits segment accounted for largest revenue share in 2020 due to increasing demand for liquid biopsy tests. High demand for these assays in hospitals and cancer clinics for early diagnosis is driving revenue growth of this segment.
Circulating Tumor DNA (ctDNA) segment accounted for a significantly large revenue share in 2020 as liquid biopsy based on ctDNA analysis has shed new light on monitoring of cancer and molecular diagnostics. Liquid biopsy based ctDNA testing opens doors to potential uses such as analysis of effectiveness of cancer treatment, early detection and screening of primary cancer or recurrence, and identification of treatment-resistant genetic variations.
Hospitals and physician laboratories segment accounted for largest revenue share in 2020 due to high number of cancer cases registered in hospitals. Emergence of cancer specialty hospitals in developing countries with availability of advanced procedures such as liquid biopsy are driving revenue growth of this segment. Wide application of liquid biopsy across physician laboratory settings is also contributing to growth of this segment.
Market in North America accounted for a significantly large revenue share in 2020 owing to presence of key players such as NeoGenomics Laboratories, Bio-Rad Laboratories Inc., and Thermo Fisher Scientific Inc., among others. Increased investment in research & development in liquid biopsy is further driving growth of the market. Continuous increase in number of cancer patients in the U.S. is also driving growth of the North America liquid biopsy market.
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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)
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)
Application Outlook (Revenue, USD Billion; 2018–2028)
Early Cancer Screening
Recurrence Monitoring Orthopedics
End-use Outlook (Revenue, USD Billion; 2018–2028)
Hospitals and Physician Laboratories
Academic and Research Centers
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Regional Outlook (Revenue, USD Billion; 2018–2028)
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The research report on the Liquid Biopsy market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Liquid Biopsy business sphere.
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Key Objectives of the Report:
Analysis and estimation of the Liquid Biopsy market size and share for the projected period of 2020-2027
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Liquid Biopsy market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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