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25
Jul-2019
Global Liquid Biopsy Market Size To Worth USD 4300.5 Mn By 2026
Global Liquid Biopsy Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report - Segmented By Cancer Type, Sample Type, Diagnostic Approach, End Users and Region - Industry Forecast (2021 to 2026)
Liquid Biopsy Market Size (2021 to 2026)
The size of the global liquid biopsy market is estimated to be growing at a CAGR of 24.3% from 2021 to 2026 and worth USD 4300.5 million by 2026.
Impact of COVID-19 on the global liquid biopsy market:
COVID-19, a coronavirus disease, has spread throughout the world. As a result of the rise in coronavirus patients, governments worldwide have enacted several regulations and restrictions, limiting market growth in the early stages of the projected period. Early diagnostic initiatives have been stopped as a result of this. However, there has been a decline in cancer screenings, visits, treatments, and surgeries, with variations by cancer type and appointed under the section worldwide, resulting in a rise in cancer morbidity and death in 2020. The pandemic has also influenced the logistics and supply of cancer diagnostic raw materials and components and other essential commodities needed in liquid biopsy manufacturing. During the COVID-19 pandemic, these issues are limiting the expansion of the liquid biopsy market.
KEY DRIVING FACTORS:
The global market for liquid biopsy is expected to be driven by the rising prevalence of cancer, increasing prevalence of non-invasive minimal surgical procedures, and the increasing demand for healthcare centers. In addition, due to technical advancements in feasibility and turnaround time, liquid biopsy has recently gained considerable interest as a non-invasive alternative to tissue biopsy in cancer patients.
Furthermore, the organizations like the American Society of Clinical Oncology (ASCO) are working to promote liquid biopsy, which is expected to drive market growth. In addition, ongoing research and development in biotechnology to launch advanced products into the market is expected to influence market growth. CTC quantitation is currently the only clinical use of isolation and detection technology, although the quantity of CTCs has been proven strongly correlated with disease severity. As a result, the market is expected to grow in the future years.
On the other hand, the market is expected to increase as more people become aware of the benefits of multiple gene analyses with the aid of NGS. Moreover, the increasing investment and funding by the government and private organizations for the development of healthcare sectors are expected to encourage market growth.
RESTRAINING FACTORS:
However, there is a lack of understanding of liquid biopsy in developing countries, which limits the market growth. On the contrary, rising healthcare spending in emerging nations like India and China and the usage of liquid biopsy testing to treat uncommon cancers are projected to drive global liquid biopsy market growth.
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KEY MARKET INSIGHTS:
- Based on the cancer type, the lung cancer segment is expected to account for the market share due to the rising awareness about the availability of treatments procedures for various cancer. Also, the increasing prevalence of useful diagnostics and treatment procedures is propelling market growth.
- Based on the diagnostic approach, the first such entities on the liquid biopsy scene, CTCs (Circulating Tumour cells), have accounted for a significant market share. The largest end-user segment in terms of revenue is the cancer institution, which is projected to create significant opportunities in the global liquid biopsy market throughout the forecast period.
- Based on the sample type, the blood sample segment is the fastest-growing segment, and it is anticipated to have significant growth during the forecast period. The demand for this market is increasing as the number of diagnostic centers with the latest equipment grows worldwide. Also, people's interest in early disease diagnosis, where there is a permanent cure for diseases when treated at the earliest stages, favorable influences market growth.
- Geographically, the North American liquid biopsy market is expected to account for the largest share of the global market during the forecast period. The high prevalence of cancer rate, availability of advanced healthcare sector, and favorable reimbursement policies in the region are propelling the market growth. The U.S. liquid biopsy market dominated the North American market owing to the high healthcare expenditure. The Asia Pacific is the second largest shareholding region in the worldwide liquid biopsy market, with a dominating market share. The rise in the elderly population is accelerating the market's growth pace. Increasing support from both private and governmental entities is also driving the market. India and China are the two most significant nations in the Asia Pacific, contributing to the majority of the market share. The European liquid biopsy market is anticipated to record a significant share in the market. The medical sector's increased focus on decreasing the cost of treatment and diagnostics applications is driving up market demand. Increased pharmaceutical sector training institutes are also indicating future market growth rates. Also, large countries such as Germany, France, the UK, Italy, and Spain are expanding regional market growth.
- Janssen Diagnostics, Qiagen, Rarecells SAS, and Silicon Biosystems are noteworthy companies operating in the global liquid biopsy market.
The report can be customized as per requirements; ask for it @ https://www.marketdataforecast.com/market-reports/liquid-biopsy-market/customization
MARKET SEGMENTATION:
By Cancer Type:
- Lung Cancer
- Pancreatic Cancer
- Leukemia
- Visceral Cancers
By Diagnostic approach:
- Circulating Tumour cells (CTC)
- Circulating Tumour DNA (ctDNA test)
- RNA in exosomes
- Extra-Cellular Vesicles
By Sample Type:
- Blood
- Urine
- Plasma
- Saliva
- Cerebrospinal Fluid
By End User:
- Reference Laboratories
- Hospital/Physician Laboratories
- Academic and Research Centres
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
KEY MARKET LEADERS PROFILED IN THIS REPORT:
- Janssen Diagnostics
- Qiagen
- Rarecells SAS
- Silicon Biosystems
- SRI International
- Myriad Genetics
- Natera
- Personal Genome Diagnostics
- Sysmex Inostics
- Trovagene
- Exosome Diagnostics
- Exosome Sciences
- HansaBiomed OU
BROWSE REGIONAL REPORTS:
WRITTEN BY: Disha Bhatt
Disha Bhatt is a management student at RIIM Pune. She worked as a Research Associate (intern) in Market Data Forecast, One of the world’s leading research and consulting for various business domains, individuals and corporate clients.
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