Global Liquid Biopsy Market to Grow with a Moderate CAGR during 2022-2028; Increasing Market in Medical Sciences

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. One of the major factors expected to drive the market growth is the increasing incidences of cancer and the rising concern for deaths caused due to cancer. In the statistical report by International Agency for Research on Cancer (IARC), titled GLOBOCAN 2020, a total of 19.3 Million cancer cases were registered globally in the year 2020, and deaths caused due to cancer was registered to 10 Million in the same year. The global liquid biopsy market accounted for USD 3,167.8 Million in 2019 and is estimated to grow at a CAGR of 30.7% during the forecast period.

The global liquid biopsy market is segmented by disease indication into lung, colorectal, breast, prostate, liver, and head & neck cancers, and others. Among these segments, 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. On the basis of product type, the market is segmented into tools, assay kits & reagents, and services. Amongst these segments, the tools segment is estimated to hold the highest share of 66% in 2021. Further, the segment is expected to garner USD 17835.9 Million by the end of 2028, up from USD 2481.3 Million in 2021.

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Geographically, the global liquid biopsy market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America 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. The growth in this region can be attributed to the increasing focus on preventive healthcare, which is further resulting in a rise in demand for innovative diagnostic solutions for different diseases.

However, misinterpretation of data can occur due to the lack of standardized controls, and the amount of data provided by a test are some of the factors 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 market 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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