Liquid biopsy is a non-invasive and simple alternative of conventional surgical biopsies that enable medical professionals to detect cancer causing tumours just by taking the blood sample of the patient. In this manner, liquid biopsy assists the doctors in selecting the correct treatment procedure for patients at right time.
The global liquid biopsy market is anticipated to witness a substantial compound annual growth rate (CAGR) of 25.0% from 2016 to reach USD 10, 850 Million by 2021. Regionally, the global liquid biopsy market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row).
Market Size and Forecast
Regionally, North America dominates the global liquid biopsy market. It is projected that by 2016 end, 1.7 million new cancer cases would be detected in the U.S. alone, making the country a major market for liquid biopsy in North America.
Western Europe liquid biopsy market is also expected to witness a promising growth sparked by rising cases of lung cancer, which is responsible for 21.5 %of all cancer mortalities in the European region.
Asia-Pacific liquid biopsy market is likely to behold the highest CAGR during the forecast period i.e. 2015-2021. Rising per capita income and increasing investments on healthcare infrastructure are some of the major factors which are projected to bolster liquid biopsy market in countries such as India and China.
By Sample Type
By Cancer Type
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Growth Drivers and challenges
Rising number of cancer patients in the world coupled with innovation in liquid biopsy technology is anticipated to drive the global liquid biopsy market over the forecast period.
In addition to that rising government initiatives to create awareness about cancer detection and treatments is also expected to bolster the global liquid biopsy market in future.
However, expensive medical procedures & cost intensive research process involved in liquid biopsy is anticipated to restrain the development of the global liquid biopsy market over next few years.
Global liquid biopsy market includes some of the top players such as NeoGenomics, Biocartis, Guardant Health, Trovagene, Pathway Genomics, Biocept Inc., Exosome Diagnostics, QIAGEN N.V. Roche Molecular Diagnostics Inc. Bio-Rad Laboratories Inc.
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