Dublin, Nov. 25, 2022 (GLOBE NEWSWIRE) -- The "Liquid Biopsy Market by Product (Assay Kits, Instruments), Circulating Biomarkers (CTC, ctDNA), Technology (NGS, PCR), Application (Cancer (Lung, Breast), Non-Cancer), Sample Type (Blood), End User (Reference Lab, Hospitals) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global liquid biopsy market is projected to reach USD 10.0 billion by 2027 from USD 4.3 billion in 2022, at a CAGR of 18.3% during the forecast period. Market growth is driven by factors such as rising global prevalence of cancers and the growing need for early detection coupled with efficient treatment monitoring and recurrence detection is anticipated to support the growth of the global liquid biopsy market. Liquid biopsy also enables the detection of cancer recurrence at earlier than traditional diagnosis methods. Early diagnosis enabled by liquid biopsy tests help healthcare professionals to improve various cancer treatments. On the other hand, the lower sensitivity of certain liquid biopsies might act as a restraining factor to the growth of this market.
The assay kits segment accounted for the highest growth rate in the liquid biopsy market, by product & service, during the forecast period
The liquid biopsy market is segmented into assay kits, instruments, and services based on product & service. In 2021, the assay kits segment accounted for the highest growth rate in the liquid biopsy market. The accessibility of a wide range of reagents and kits and simple availability to a wide range of assays are the major factors driving the growth of the liquid biopsy assay kits market.
Non-cancer applications segment accounted for the highest CAGR
Based on application, the liquid biopsy market is segmented into cancer and non-cancer applications. In 2021, the non-cancer application segment accounted for the highest growth rate. This can be attributed to the increasing research activities in NIPT, organ transplant diagnosis and infectious diseases.
Asia Pacific: The fastest-growing region liquid biopsy market
The global liquid biopsy market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. The Asia Pacific region is projected to register the highest CAGR during the forecast period.
The Asia Pacific region is projected to register the highest CAGR during the forecast period. Factors such as increased healthcare spending by a larger population base, healthcare infrastructure modernization, and the rising penetration of cutting-edge clinical laboratory technologies (especially in rural areas). These factors are expected to provide significant growth opportunities for liquid biopsy companies operating in this region.
The APAC, which is becoming a medical tourism hub, is considered one of the fastest-growing markets for medical procedures and devices. Low infrastructure & treatment costs and the availability of highly educated physicians have driven medical tourists to APAC countries. This is a major factor driving the growth of the market in this region.
Market Dynamics
Drivers
- Rising Incidence and Prevalence of Cancer
- Cancer Awareness Initiatives Undertaken by Global Health Organizations
- Increasing Preference for Non-Invasive Treatment Procedures
Restraints
- Lower Sensitivity of Certain Liquid Biopsy Procedures
Opportunities
- Growing Significance of Companion Diagnostics
- Growth Opportunities in Emerging Countries
Challenges
- Unclear Reimbursement Scenario
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Liquid Biopsy Market, by Product & Service
7 Liquid Biopsy Market, by Circulating Biomarker
8 Liquid Biopsy Market, by Technology
9 Liquid Biopsy Market, by Application
10 Liquid Biopsy Market, by Clinical Application
11 Liquid Biopsy Market, by Sample Type
12 Liquid Biopsy Market, by End-user
13 Liquid Biopsy Market, by Region
14 Competitive Landscape
15 Company Profiles
16 Appendix
Companies Mentioned
- Agena Bioscience, Inc.
- Angle PLC
- Anpac Bio-Medical Science Co. Ltd.
- Bio-Rad Laboratories, Inc.
- Biocept, Inc.
- Epigenomics AG
- Exact Sciences Corporation
- Exosome Diagnostics, Inc.
- F. Hoffmann-La Roche AG
- Freenome Holdings, Inc.
- Guardant Health, Inc.
- Illumina, Inc.
- Lucence Health Inc.
- Lunglife AI, Inc.
- Mdxhealth
- Medgenome Inc.
- Menarini-Silicon Biosystems
- Myriad Genetics, Inc.
- Neogenomics, Inc.
- Personal Genome Diagnostics, Inc.
- Qiagen N.V.
- Strand Life Sciences
- Sysmex Inostics (Subsidiary of Sysmex Corporation)
- Thermo Fisher Scientific, Inc.
- Vortex Biosciences, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/gwyymm
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