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Global Liquid Biopsy Market to Grow on Account of Rising Investments in Research and Development for Diagnosis & Treatment of Cancer; Market to Grow by a CAGR of 30.7% over 2020 – 2028

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Research Nester published a report titled Liquid Biopsy Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global liquid biopsy market in terms of market segmentation by product, biomarker type, sample, clinical application, disease indication, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global liquid biopsy market is anticipated to grow with a CAGR of 30.7% during the forecast period, i.e., 2020-2028. The market is segmented by product type into tools, assay kits & reagents, and services, out of which, the tools segment is estimated to hold the highest share of 66% in 2021 and further garner USD 17835.9 Million by the end of 2028. In the year 2021, the segment is expected to reach a revenue of USD 2481.3 Million. The market is also segmented on the basis of disease indication into lung, colorectal, breast, prostate, liver, and head & neck cancers, and others, out of which, the breast cancer segment is estimated to garner the highest market revenue by the end of 2028 and attain a revenue of USD 6703.1 Million in the same year.

The growth of the global liquid biopsy market can be attributed to the growing progress in cancer research to develop devices that can detect and characterize tumors through a minimally invasive approach. Moreover, increasing investments in various governmental and autonomous bodies dedicated to cancer research, diagnostics, and treatment is also expected to contribute to the market growth. In 2017, an estimated USD 161.2 billion was spent on cancer research in the US. In 2019-20, Cancer Research UK spent around USD 558 Million on research-related projects. Effective use of the investments has been in the early detection and diagnosis of cancer. In 2019, the global liquid biopsy garnered USD 3,167.8 Million, and by 2028, the market is estimated to touch USD 25,874.4 Million by growing at a CAGR of 30.7% over the forecast period.

The global liquid biopsy is segmented into five major regions comprising North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American liquid biopsy market is estimated to hold the leading market share of 36.19% and attain a revenue of USD 9363.1 Million by the end of 2028 on account of improved research infrastructure and increasing investments in R&D in the healthcare industry.

Increasing Focus for Advancements in Cancer Research to Boost Growth of Liquid Biopsy Market Globally

In all domains of medicine, diagnostic and curative, the global healthcare system has undergone considerable breakthroughs. The advancement of non-invasive or minimally invasive treatments, more accurate diagnostics using artificial intelligence, and telemedicine advancements are paving the way for a better infrastructure that has composite solutions for various ailments at an affordable price, prodded by the development of non-invasive or minimally invasive treatments, more accurate diagnostics using artificial intelligence, and telemedicine advancements. Hence, the increasing investments for advancement in medical research is expected to drive the market growth during the forecast period.

However, due to the lack of regulatory standards in various developing countries and other regulations that discourage the usage of liquid biopsy in hospitals. As a result, their use is limited to a few hospitals and research institutions, which is anticipated to hamper the market growth.

This report also provides the existing competitive scenario of some of the key players of the global liquid biopsy which includes company profiling of Qiagen, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, Inc., Illumina, Inc., Inivata Limited, Agena Bioscience, Inc., Thermo Fisher Scientific, Guardant Health, Inc. and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global liquid biopsy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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