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Liquid Biopsy Market Analysis

Report ID: GMI3775
Published Date: Nov 2021
Report Format: PDF

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Liquid Biopsy Market Analysis

Liquid Biopsy Market Size

Circulating tumor DNA segment in the liquid biopsy market valued at USD 550 million in 2020. Well-developed technology providing accuracy in tumor detection has significantly contributed to the industry revenue. High sensitivity in detection of early stage and advanced cancer, specifically breast cancer, will offer growth opportunities to the segment. In addition, the ctDNA biomarkers are used to study tumor progression among patients during clinical studies. Further, ctDNA provides an alternative pathway for the molecular profiling of tumor DNA in biopsy procedures.

Kits & reagents segment dominated more than 50% of the market share in 2020 led by the increasing acceptance of liquid biopsy in reference laboratories and research institutes. Several companies are involved in the development of innovative products to enhance the precision in liquid biopsy testing during diagnosis. Further, the integration and practice of liquid biopsy in clinical facilities will boost the product demand in the coming years.

Lung cancer segment is predicted to showcased 29.7% growth rate through 2027 impelled by the high incidence rate owing to the adoption of unhealthy lifestyle including smoking and tobacco consumption. In addition, the high risk of metastatic conditions among patients with lung cancer will support the acceptance of advanced biomarkers testing. The development of innovative tests specific to targets will further strengthen the segment expansion.

North America Liquid Biopsy Market

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North America liquid biopsy market captured 31% of revenue share in 2020 on account of the availability of advanced products along with the presence of leading industry players. Further, rising incidence of cancer, faster adoption of advanced methods and highly advanced infrastructure will augment the regional growth. Accelerating demand for non-invasive disease diagnosis and continuous product launches with high focus on R&D by the market players will offer unprecedented growth opportunities to the industry.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Market size of liquid biopsy surpassed USD 1.2 billion in 2020 and is expected to expand at a CAGR of 29.7% from 2021 to 2027 with increasing awareness regarding the causes and diagnosis of cancer.

The kits & reagents accounted for over 50% of the revenue share in 2020 and will grow with soaring adoption of liquid biopsy in research institutes and reference laboratories.

The lung cancer is poised to exhibit a growth rate of 29.7% up to 2027 owing to the growing adoption of unhealthy lifestyle, comprising tobacco consumption and smoking, and a subsequent increase in the incidence rate.

North America market size recorded 31% of the global industry revenue in 2020 and will rise with the availability of highly advanced infrastructure and faster adoption of advanced methods.

Major players across the industry comprise Guardant Health, Inc., F. Hoffmann-La Roche Ltd., Lucence Health Inc., Genetics, Inc., BIOCEPT, Inc., and others.