An overview of conceptual frameworks, analytical approaches of the Liquid Biopsy market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Liquid Biopsy market is expected to grow with a significant rate in the near future. The global Liquid Biopsy Market in 2020 is estimated for more than US$ 1,013.6 Mn and expected to reach a value of US$ 2,563.9 Mn by 2028 with a significant CAGR of 12.3%. The base year considered for the study is 2019, and the market size is projected from 2020 to 2028.
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Liquid Biopsy Market Definition
The liquid biopsy is a largely non-invasive clinical test performed in order to identify the cancer cells from the tumor that are flowing in the blood or in the DNA from tumor cells that are mixed in blood. The liquid biopsy is a medical procedure performed on the sample of blood of a patient, in order to diagnose cancer at an initial stage or it may help in monitoring the efficiency of the treatment provided to the patients as well as in planning the further treatment.
Also, if the liquid biopsy procedure is performed multiple times by regularly taking blood samples over time, it is also likely to assist the healthcare professionals to monitor the molecular changes taking place in the tumor of the patient.
Owing to all such factors, the liquid biopsy considerably has numerous benefits which elevates its demand all across the world. Attributing to which, the global liquid biopsy market is projected to witness significant growth in the forthcoming years.
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Liquid Biopsy Market Dynamics
The growing prevalence of cancer among the population is one of the major aspects that is projected to boost the growth of the global liquid biopsy market in the near future. For example, In 2018, around 18.1 million new cases and 9.6 million fatalities were recorded due to cancer globally, as per the World Health Organization.
In addition, the liquid biopsy is the medical procedure with a massive number of benefits, which is why it is preferred excessively, thereby fueling the growth of the global liquid biopsy market. One of the most beneficial aspect of the liquid biopsy is that it is a non-invasive procedure and thus, it prevent the painful extraction of the sample of tissues and therefore eradicate the pain affiliated with the process, which in turn is expected to further accelerate the growth of the global liquid biopsy market in the upcoming future.
By the same token, there is a substantial number of favorable trials of liquid biopsy owing to the constant advancements, which is also acting as a positive factor in order to further augment the growth of the global liquid biopsy market during the forecast timeframe.
However, the constant research and development activities has resulted in other alternatives for liquid biopsy, which may hold back the growth of the global liquid biopsy market in the coming years.
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Liquid Biopsy Market Key Players
Some of the key participating players in the liquid biopsy market are Biocept, Inc., Qiagen N.V., Roche Diagnostics, Bio-Rad Laboratories, Inc., Myriad Genetics, Inc., Menarini-Silicon Biosystems, Trovagene, Inc., Guardant Health, Inc., Mdxhealth SA, Genomic Health, Inc., Raindance Technologies, Inc., Thermo Fisher Scientific Inc., and Illumina, Inc.
Liquid Biopsy Market Segmentation
The liquid biopsy market is segmented on the basis of circulating biomarker, cancer type, end user, product type, and by region.
On the basis of circulating biomarker, the global liquid biopsy market is segmented into
- Circulating Tumor Cells
- Circulating Tumor DNA (CTDNA)
- Cell-Free DNA
- Extracellular Vesicles (Evs)
- Other Circulating Biomarkers
While on the basis of cancer type the market can be segmented into
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Liver Cancer
- Other Cancers
On the basis of Clinical Application the market can be segmented into
- Early Cancer Screening
- Therapy Selection
- Treatment Monitoring
- Recurrence Monitoring
On the basis of Product the market is segmented into
- Assay Kits
On the basis of End User the market is segmented into
- Reference Laboratories
- Hospitals and Physician Laboratories
- Academic and Research Centers
On the basis of Region, the global liquid biopsy market is segmented into
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Europe (U.K., Germany, Italy, France, Spain, Russia, Poland, BENELUX, NORDIC)
- Asia Pacific (China, India, Japan, Australia and New Zealand, South Korea, ASEAN, Rest of Asia)
- Middle East (GCC Countries, Israel, Oman, Rest of Middle East)
- Africa (South Africa, Egypt, North Africa, Rest of Africa)
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