The Global Liquid Biopsy Market was valued at USD 2.4 Bn in 2020 and expected to reach USD 7.1 Bn by 2027, with a growing CAGR of 19.9% during the forecast period
The enhancement of Next-Generation Sequencing methods permitted the cancer researchers and scientists to detect tumor sub clones, rare somatic variants, and the free circulating DNA fragments. The development of new novel technologies and molecular tools intend to accelerate the market. Nevertheless, the increasing prevalence of cancerous fragments in the genetic compositions, surgical invasions and tumorous cases depending on the geography are some of the factors that promote the growth of the liquid biopsy market.
The increasing prevalence of various tumors and clinical trials are expected to propel the liquid biopsy market. The high adoption rate of liquid biopsy is one of the prominent driving factors of it. Many key players are on the verge of product launches and various acquisitions leading to promote the liquid biopsy market value of molecular detection assay. The awareness for healthy lifestyle, increase in awareness regarding various genetic disorders and breast cancers, drives the growth of liquid biopsy market.
Moreover, growing alertness regarding healthy and disease free, increase in organized retail marketing, rise in diseased population are considerably the major factors that boost the growth of liquid biopsy market.
Liquid Biopsy Market Segmentation:
By Sample Type
Based on sample type, blood sample segment has gained tremendous market shares in 2020
Based on sample type, blood sample segment has gained tremendous liquid biopsy market shares in 2020 and is predicted to gain more during forecast period. This is due to the increase in increasing rate of diagnosis and detection propel the growth of industry in this segment.
Based on application, therapy selection for metastatic breast cancer (MBS) segment is expected to show high market shares in 2020 and expected to gain more during forecast period
Based on application, therapy selection for metastatic breast cancer (MBS) segment is expected to show high market shares in 2020 and expected to gain more during the forecast period. According to WHO- World health organization, in the year 2020 an estimate study was conducted by the organization which confirmed that 2.3 million women who were diagnosed with breast cancer. The other factors like rising demand for breast cancers, its diagnostics procedures, and the increasing continuous research in laboratories account for its growth in the liquid biopsy market.
According to CDC, an estimated of 1,806,590 new cancers are diagnosed in the United States and 606,520 number of people died from it in 2020. The mortality of cancer is 158.3 per 100,000 men and women per year.
Based on biomarker, the circulating tumor DNA (ctDNA) segment has gained tremendous market shares in 2020
Based on biomarker, the circulating tumor DNA (ctDNA) segment has gained tremendous market share in 2020 and expected to gain more during forecast period. The segment is expected to grow owing to the increase in research, the on-going genome project on going and the other genetic disorders combined with the rising prevalence of various tumors across the globe.
Based on technology, the multi-gene-parallel analysis (NGS) segment has gained tremendous market shares in 2020 and expected to gain more during forecast period
Based on technology, the multi-gene-parallel analysis (NGS) segment has gained tremendous market shares in 2020 and expected to grow furthermore. The usage and popularity of NGS and its accurate interpretation is expected to be the main reason behind the segment growth. The segment in the market is growing due to increasing need of easy, early, and accurate detection and diagnostic rate of genetic and congenital diseases. Late detection can be life threatening and so hence, techniques like NGS and others are preferred for clarity in the diagnosis.
Based on end-user, diagnostic laboratories segment has gained tremendous market shares in 2020 and expected to gain more during forecast period
Based on end-user, diagnostic laboratories segment has gained tremendous market shares in 2020 and expected to grow furthermore propel. The Increasing population and the prevalence of pharmacological treatments drive the rate of diagnosis of the Liquid Biopsy. The increasing clinical trials and ongoing research in the key industries are also expected to drive the segment in the liquid biopsy market during the forecast period. The research taking place for the drug production in concern with various cancers. The factors driving the liquid biopsy market include an increase in manufacturing units and research along with development by the key players and the product launches.
Based on region, North America has gained tremendous market shares in 2020 and expected to gain more during forecast period
Based on region, North America dominated the liquid biopsy market in 2020. This region has eventually promoted the use and demand for liquid biopsy and technologies to detect the cancer and genetic disorders. Further, increase in research and development centres, the high birth rate, creates an opportunity for the key players to develop for development of more high-quality products and enhance the growth of market in this region. Highly established infrastructures and machineries enhance the research and development.
Further, an increase in research and development centres and the high birth rate creates an opportunity for key players for development of high-quality products which enhances the growth of liquid biopsy market in this region.
Company Profiles and Competitive Intelligence
The key players operating in the Liquid Biopsy Market are:
The report also provides in-depth analysis of Liquid Biopsy Market dynamics such as drivers, restraints, and opportunities.
COVID-19 Impact on the Liquid Biopsy Market Analysis
The Covid-19 outbreak had experienced a positive impact on the liquid biopsy industry as it has highly affected the industries in terms of growth, economy, health, and mental wellbeing of every individual. Many molecular detections assay was used for the vaccine production for the COVID-19. This created an opportunity for the retailers and manufactures to increase their sale of liquid biopsy during the pandemic time. There was a disruption in manufacturing, supply chain facilities and consumer spending due to financial crisis.
According to World Health Organization and European Centre for Disease Prevention and Control, there are about 200 million confirmed cases of COVID-19 which have been reported globally. According to WHO-World Health Organization, the data submitted on 13 August 2021, there have been 205,338,159 confirmed cases of COVID-19, 4,333,094 deaths and 4,428,168,759 vaccine doses have been given. The region of Americas is affected mainly with about 79,622,691 confirmed cases.
The report also provides in-depth analysis of key trends in Liquid Biopsy Market
The report also provides in-depth analysis of recent news developments and investments
The unique insights provided by Liquid Biopsy Market report also includes the following:
Ask for free product review call with the author
Share your specific research requirements for a customized report
Request for due diligence and consumer centric studies
Request for study updates, segment specific and country level reports