Liquid Biopsy Market is expected to reach US$ 7.64 Billion in 2028, growing at a CAGR of 18% during 2022- 2028, reports Stratview Research.
Raipur, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Liquid Biopsy Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Liquid Biopsy Market is driven by a host of factors, some of which are noted below:
Increasing cancer patients,
Rising demand for non-invasive treatment procedures,
Growing awareness about the benefits of liquid biopsy,
Advantages of liquid biopsy, such as low cost, rapid and accurate results, and early detection of diseases.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Liquid Biopsy Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Application Type (cancer and non-cancer applications)
By Technology Type (multi-gene parallel analysis using NGS and single-gene analysis using PCR microarrays)
By End-User Type (laboratories, hospitals and physician laboratories, academic & research centers, and others)
Region (North America, Europe, Asia-Pacific, and Rest of the World)
Liquid Biopsy Market Insights
Market Trends by Application Type
The market is segmented as 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.
Market Trends by Technology Type
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 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.
Market Trends by End-User Type
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 centres, and others. The outsourcing of liquid biopsy tests to reference laboratories is expected to drive the market growth over the forecast period.
Which region offers the best opportunity and growth?
Among these regions, Asia-Pacific is expected to be the fastest-growing region in the market during the forecast period.
In 2021, North America had the highest revenue share of over 50%. Due to higher investments and the existence of numerous biotechnology businesses developing the tests in the U.S., this region dominates the most.
The market is segmented as North America, Europe, Asia-Pacific, and 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.
COVID-19 Impact on the Liquid Biopsy Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
F. Hoffmann-La Roche Ltd.
Guardant Health Inc.
Johnson & Johnson
Laboratory Corporation of America Holdings
Thermo Fisher Scientific Inc.
What deliverables will you get in this report?
In-depth analysis of the Liquid Biopsy Market
Detailed market segmentation.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
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