The Global Liquid Biopsy Market size is estimated to be USD 34.3 million in 2019 and is predicted to reach USD 130.1 million by 2030 with a CAGR of 12.9% from 2020-2030. Liquid biopsy or fluid biopsy or fluid phase biopsy is the diagnostic testing involves the sampling and analyzing of non-solid biological tissue, such as blood. This technique is majorly used as a diagnostic and monitoring tool for cancer. This technique track tumors and mutations effectively than another process over a duration of time. Many major pharmaceutical and research organization are trying to improve the liquid biopsy procedure.
Market Dynamics and Trends:
The major driving factors for the global liquid biopsy market are the rising incidence of cancer, increasing the need for better diagnostic options and increasing government support for research and development. According to the report published by American Cancer Society, by end of 2018, over 1.7 million new cancer cases are expected to be diagnosed in U.S. Increasing spending on research and development activities has supported the growth of the global liquid biopsy market. The Cancer Research UK have spent over 518 million USD on cancer research across the U.K to accelerate progress and increase cancer surviving rate by 75% by 2034. Moreover, reimbursement policies, increasing per capita income of the people, and raising awareness about the availability of diagnostic methods have supported the growth of the market. On the other hand, availability of the alternative diagnostic methods, and long approval time for the drug/devices may slow the growth of the global liquid biopsy market.
Market Segmentations and Scope of the Study:
The global liquid biopsy market share is analyzed on the basis of product & services, cancer type, circulating biomarker, and end user. On the basis of product & service, the market is segmented into instruments, reagents, and service. On the basis of cancer type, the market is segmented into lung, colorectal, breast, liver, prostate, and others. On the basis of circulating biomarker, the market is segmented into circulating tumor cells, circulating tumor DNA, extracellular vesicles, and other. On the basis of the end user, the market is categorized into hospitals & laboratories, research centers, and other. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.
North America leads the global liquid biopsy markets across owing to the increasing prevalence of various cancers in the region such as breast cancer, lung cancer, and ovarian cancer, among others. Moreover, to meet the upcoming demand and grab the major share of the liquid biopsy market, most of the key players are heavily investing in research and development activities and using modern technologies in R&D in this region which has supported the growth of the market. Increasing government support and growing expenditure on R&D are projected to drive the Europe liquid biopsy market.
Major players in the liquid biopsy market are: Bio-Rad Laboratories Inc., Biocept, Inc., F. Hoffmann-La Roche AG, Qiagen, Janssen Diagnostics, LLC., Myriad Genetics, Trovagene Inc., Guardant Health Inc., GRAIL, Exosome Sciences, MDX Health SA., Fraunhofer-Gesellschaft, Horizon Discovery, Cynvenio, Diagnologix, Illumina, Inc., CyoTrack, and others.
Being a competitive market a many major players have adopted the organic strategy of acquisition and collaboration for the expansion of the company market. Whereas, local players are offering their product and services at low cost to increase the brand identity and grab the local market.
- The study provides an in-depth analysis of the Global Liquid Biopsy market with current and future trends to elucidate the imminent investment pockets in the market.
- Current and future Global Liquid Biopsy markettrends are outlined to determine the overall attractiveness and to single out profitable trends to gain a stronger foothold.
- The Global Liquid Biopsy marketreport provides information regarding key drivers, restraints and opportunities with impact analysis.
- Quantitative analysis of the current market and estimations through 2019-2030 are provided to showcase the financial caliber of the market.
- Porters Five Forces model and SWOT analysis of the industry illustrates the potency of the buyers & suppliers participating in the Global Liquid Biopsy market.
- Value chain analysis in the Global Liquid Biopsy marketreport provides a clear understanding of the roles of stakeholders involved in the value chain.
KEY MARKET SEGMENTS:
- Global Liquid Biopsy market – By Product & Service
- Global Liquid Biopsy market – By Cancer Type
- Lung Cancer
- Liver Cancer
- Breast Cancer
- Prostate Cancer
- Colorectal Cancer
- Global Liquid Biopsy market – By Circulating Biomarker
- Circulating Tumor Cells
- Circulating Tumor DNA
- Extracellular Vesicles
- Global Liquid Biopsy market – By End User
- Hospitals & Laboratories
- Research Centers
- Global Liquid Biopsy market – By Geography
- North America
- Rest of the Europe
- South Korea
- Rest of the Asia Pacific
- Latin America
- Middle East
- North America