According to a new report published by Allied Market Research, titled, “Liquid Biopsy Market by Product & Service, Circulating Biomarker, Cancer Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the global liquid biopsy market size accounted for $1,204.20 million in 2020, and is estimated to reach at $6,804.90 million by 2028, registering a CAGR of 20.9% from 2021 to 2028.
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Liquid biopsy tests prove to be an easy and non-invasive method to access molecular information about the tumor genome. Moreover, these tests facilitate early detection of cancer recurrence, and characterization of tumor dynamics. Safety and efficiency of cancer treatment is improved by the use of these tests, owing to their ability to characterize the new lesions, implement therapeutic targets, and predict the treatment outcome.
The liquid biopsy market is experiencing growth owing to rise in advancements in liquid biopsies. In addition, surge in prevalence of cancer cases and patient preference for minimally invasive therapies are anticipated to fuel the market growth. Rise in healthcare expenditure in the developing countries, such as India and China, and use of liquid biopsy tests to treat rare cancers are expected to present ample opportunities for the market growth. However, the market growth is restricted due to lack of awareness of cancer in the developed regions.
Prominent players operating in the global liquid biopsy market include 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.
Key Findings Of The Study
- By region, Europe occupied 26.4% share of the global liquid biopsy market in 2020.
- By region, Asia-Pacific is anticipated to grow with the highest CAGR throughout the forecast period.
- By cancer type, the breast cancer segment accounted for 7.2% share of the market in 2020.
- By product & service, the platforms & instruments application segment is anticipated to grow at the highest rate during the analysis period.
Key Market Segments
By Product & Service
- Kits & Reagents
- Platforms & Instruments
By Circulating Biomarker
- Circulating Tumor Cells
- Extracellular Vesicles
- Circulating Tumor DNA [ctDNA]
- Other Biomarkers
By Cancer Type
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Liver Cancer
- Other Cancers
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