The market research report, entitled Liquid Biopsy Market aims to help the stakeholders discover more information regarding trends in the Liquid Biopsy Market. The report will give an overview of the detailed analysis of the correlated key players in the market, covering their competitive landscape, capacity, and latest developments like investments, expansion of capacity, technological growth, etc. Also, it covers different market segments and other factors affecting the market.

Global Liquid Biopsy Market Forecast:

The liquid biopsy market was estimated at USD 2.83 billion in 2022 and is expected to grow at a CAGR of 17.99% during 2023-2028 to reach USD 7.64 billion in 2028.

What is a liquid biopsy?

A liquid biopsy is a minimally invasive medical procedure that involves analyzing a blood sample or other bodily fluids to detect and monitor various diseases, including cancer. Unlike traditional biopsies, which require invasive surgical procedures, liquid biopsies offer a non-invasive alternative that can be performed more frequently and with less risk to the patient. Liquid biopsies can detect various biomarkers, such as circulating tumour cells (CTCs), cell-free DNA (cfDNA), and exosomes, providing valuable information on the existence and progression of cancer and other diseases. Liquid biopsies have the potential to revolutionize cancer diagnosis and treatment, as they enable doctors to monitor patients more closely and make more informed decisions about their care.

COVID-19 IMPACT

The impact of the global pandemic Covid-19 was felt across all industries in every field. However, the liquid biopsy market managed to escape the pandemic with minimum damage. The liquid biopsy market witnessed a slight decline in the year 2020 during the pandemic and is likely to rebound at a healthy rate in the forecast period.

Some existing key players in the market are:

• Biocept Inc.

• Bio-Rad Laboratories

• F. Hoffmann-La Roche Ltd.

• Guardant Health Inc.

• Illumina, Inc.

• Johnson & Johnson

• Laboratory Corporation of America Holdings

• MDxHealth SA

• QIAGEN N.V.

• Thermo Fisher Scientific Inc.

Market Dynamics

The liquid biopsy market is driven by several factors, including the increasing prevalence of cancer and other diseases, the need for non-invasive diagnostic methods, and the growing demand for personalized medicine. Here are some of the key drivers of the liquid biopsy market:

• Cancer Prevalence: The rising incidence of cancer is one of the main drivers of the liquid biopsy market. As cancer rates continue to increase, there is a growing need for non-invasive and accurate methods of diagnosing and monitoring the disease.

• Non-Invasive Diagnostic Methods: Liquid biopsy provides a non-invasive alternative to traditional tissue biopsies, which can be invasive and painful for patients. This is particularly important for patients with advanced cancer or other conditions that make traditional biopsies difficult or risky.

• Personalized Medicine: Liquid biopsy provides doctors with a wealth of information about a patient's disease, including the specific mutations and biomarkers that may be driving the disease. This information can help doctors tailor treatment plans to the individual patient, leading to better outcomes.

• Technological Advancements: Advances in liquid biopsy technology, including improvements in sensitivity and specificity, are driving the adoption of this approach in clinical practice.

• Research Funding: Increased funding for research into liquid biopsy is fuelling innovation in this field, leading to new technologies and applications that are driving the market growth.

Liquid Biopsy Market Segment Analysis:

Stratview Research’s proposed market report on Liquid Biopsy Market contains the segment-wise current market condition. Also, it offers an estimation of future growth opportunities.

As per the report, the market is segmented by:

·       By Products & Services Type (Assay Kits, Instruments, and Services),

·       By Application Type (Cancer {Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, and Others} and Non-Cancer),

·       By Clinical Application Type (Therapy Selection, Treatment Monitoring, Recurrence Monitoring, and Early Cancer Screening),

·       By Circulating Biomarkers Type (Circulating Tumor Cells, Cell-Free DNA, Circulating Tumor DNA, Extracellular Vesicles, and Others),

·       By Technology Type (Multi-Gene Parallel Analysis Using NGS and Single-Gene Analysis Using PCR Microarrays),

·       By End-User Type (Reference Laboratories, Hospitals and Physician Laboratories, Academic & Research Centers, and Others),

·       By Region (North America, Europe, Asia-Pacific, and Rest of the World).

Sneak peek into the Report:

This report discusses about the various challenges, segments, and growth in the Liquid Biopsy Market. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions.

The report also benchmarks the major parameters like -

• Industry Outlook
• Market Segmentation & Value Chain Analysis
• Industry Dynamics
• Drivers
• Restraints
• Key Opportunities
• Application Outlook
• Technology Outlook
• Regional Outlook
• Country-level Analysis
• Competitive Landscape
• Company Market Share Analysis
• Key Company Profiles/ Market Players

Segment Analysis

The liquid biopsy market is segmented into 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. In addition, the increasing number of research studies on liquid biopsy for cancer applications is further expected to drive the growth of the market during the forecast period.

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 the 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. PCR tests' quick and real-time diagnostic results are accurate, and they can guide targeted therapies for cancer treatment. PCR is rapidly gaining popularity and is expected to grow at a rapid pace in the coming years.

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 centers, and others. The outsourcing of liquid biopsy tests to reference laboratories is expected to drive market growth over the forecast period.

Among these regions, Asia-Pacific is expected to be the fastest-growing region in the market during the forecast period.

In 2022, North America had the highest revenue share of over 50%. Due to higher investments and the existence of numerous biotechnology businesses developing tests in the U.S., this region dominates the most.

The market is segmented into North America, Europe, Asia-Pacific, and the 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.

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Stratview Research also provides solutions to custom research requirements for market evaluation, competitive benchmarking, sourcing and procurement, target screening, and other services across sectors with this thorough review.

Research Methodology

Stratview Research's report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

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