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Liquid Biopsy Market Trends

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

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Liquid Biopsy Market Trends

Increasing preference for non-invasive technologies in disease diagnosis is poised to positively impact the adoption of liquid biopsy. Significant rise in the number of patients suffering from various cancers will create the substantial need for accurate diagnostic methods. Furthermore, growing number of ongoing clinical trials for the development of innovative solutions will accelerate the market expansion. Moreover, several advantages associated with liquid biopsy such as less invasive nature, improved precision and post-treatment monitoring will stimulate the industry demand.

The COVID-19 pandemic has moderately impacted the related product sales due to the disruption in healthcare services. The companies witnessed modest decline in the sales of reagents and kits in some countries. However, continued demand for instruments has reduced the intensity of negative impact. Additionally, with decline in number of COVID-19 cases, the sales of reagents are expected to grow at pre-pandemic pace.

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.