Expansion in rates and commonness of different disease types, ascend popular for protected and non-intrusive methodology, and benefits of liquid biopsy dispatches and innovation drive the development of the global liquid biopsy market.
Expansion in rates and commonness of different disease types, ascend popular for protected and non-intrusive methodology, and benefits of liquid biopsy dispatches and innovation drive the development of the global liquid biopsy market.
The global liquid biopsy market size accounted for $1.20 billion in 2020, and is estimated to reach at $6.80 billion by 2028, registering a CAGR of 20.9% from 2021 to 2028.
Liquid biopsy tests end up being a simple and non-obtrusive strategy to get to sub-atomic data about the tumor genome. Also, these tests work with early identification of malignancy repeat, and portrayal of tumor elements. Security and effectiveness of malignancy treatment is improved by the utilization of these tests, attributable to their capacity to describe the new injuries, execute remedial targets, and anticipate the treatment result.
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Covid-19 Scenario:
- The market has suspended early diagnosis programs owing to the lockdown imposed by government bodies. In addition, there has been a decrease in screenings, visits, therapies, and surgeries related to cancer.
- The pandemic has also affected the logistics and supplies of cancer diagnostic raw materials and components and other essential commodities required for the production of liquid biopsy.
The liquid biopsy market is encountering development inferable from ascend in progressions in liquid biopsies. What’s more, flood in predominance of malignancy cases and patient inclination for negligibly intrusive treatments are expected to fuel the market development. Ascend in medical care consumption in the agricultural nations, like India and China, and utilization of liquid biopsy tests to treat uncommon diseases are relied upon to introduce plentiful freedoms for the market development. Nonetheless, the market development is confined because of absence of familiarity with malignancy in the created locales.
The report offers detailed segmentation of the global liquid biopsy market based on cancer type, end user, and region.
Based on cancer type, the lung cancer segment held the highest market share, accounting for nearly one-third of the total share in 2020, and is projected to maintain its lead position during the forecast period. However, the breast cancer segment is estimated to register the highest CAGR of 26.0% from 2021 to 2028.
Based on end user, the hospitals and laboratories segment accounted for the largest market share in 2020, contributing to 94% of the global Liquid biopsy market, and is estimated to continue its leadership status during the forecast period. However, the government and academic research center segment is projected to witness the largest CAGR of 21.9% from 2021 to 2028.
Based on region, North America contributed to the largest market share in 2019, holding more than two-fifths of the total share, and is expected to maintain its dominant share in terms of revenue by 2028. However, Asia-Pacific is estimated to portray the highest CAGR of 22.7% during the forecast period. Other provinces covered in the report include LAMEA and Europe.
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The Major Key Players Are:
Bio-Rad Laboratories, Inc, Biocept Inc., Guardant Health Inc., Illumina, Inc., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Laboratory Corporation of America Holdings, MDxHealth SA, Qiagen N.V., and Thermo Fisher Scientific, Inc.
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