Liquid Biopsy Market Share, Lower Cost, Wide Range of Potential Uses & Aging Population Driving Growth by 2028

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Surge in number of cancer patients and rise in preference for minimally invasive procedures are some key factors driving liquid biopsy market revenue growth

VANCOUVER, BC, CANADA, March 28, 2022 /EINPresswire.com/ -- Surge in number of cancer patients and rise in preference for minimally invasive procedures are some key factors driving liquid biopsy market revenue growth

Emergen Research’s latest document, titled ‘Global Liquid Biopsy Market - Forecast to 2027¹,’ is one of the most sought-after market reports involving an in-depth analysis of the global Liquid Biopsy market. The report’s authors have offered necessary details on the latest Liquid Biopsy market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Liquid Biopsy industry entails useful insights into the estimated Liquid Biopsy market size, revenue share, and sales & distribution networks.

The global liquid biopsy market size is expected to reach USD 5.53 Billion in 2028 and register a steady revenue CAGR of 20.8% during the forecast period, according to latest analysis by Emergen Research. Rise in demand for early detection of cancer is a key factor driving global liquid biopsy market revenue growth.

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Liquid biopsy is a safe and popular procedure carried out during examination of cancer. The procedure is easy and minimally invasive, allows early detection and diagnosis of cancer, and helps in identification of cancer treatment. Surge in preference for non-invasive procedures is driving private and public funding to support research activities in the liquid biopsy field. Liquid biopsies allow medical professional to discover various aspects of a tumor through a patient’s blood sample. It facilitates medical professionals to understand which treatments are suitable for which patients.

Leading Players Profiled in the Report:
Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Adaptive Biotechnologies, NeoGenomics Laboratories, Guardant Health, Inc., RainDance Technologies, Inc., Biocept, Inc., Qiagen N.V., Trovagene, Inc., and F. Hoffmann-La Roche Ltd.

Development of liquid biopsy has led to a better understanding of molecular diagnostics of circulating tumor DNA. Increased adoption of liquid biopsy in cancer is due to its potential of non-invasive detection of targeted genomic alteration in correspondence to targeted therapy. Non-cancerous application of liquid biopsy includes diagnosis of heart attack, and atherosclerosis. Advancements in next-generation sequencing for patients with advanced stages of cancer is also driving market growth.

Research on liquid biopsy has expanded recently, generating an entirely new field of study. Both industry and academic researchers from various areas of expertise are working on developing, refining, and establishing clinical uses for liquid biopsy tests. For instance, InterVenn Biosciences announced completion of USD 201 million Series C financing in August 2021. The funding will be used to speed up development and commercialization of InterVenn’s Dawn, which is a liquid biopsy assay for immune checkpoint inhibitor response prediction.

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Some Key Highlights from the Report:
Assay Kits segment accounted for largest revenue share in 2020 due to increasing demand for liquid biopsy tests. High demand for these assays in hospitals and cancer clinics for early diagnosis is driving revenue growth of this segment.
Circulating Tumor DNA (ctDNA) segment accounted for a significantly large revenue share in 2020 as liquid biopsy based on ctDNA analysis has shed new light on monitoring of cancer and molecular diagnostics. Liquid biopsy based ctDNA testing opens doors to potential uses such as analysis of effectiveness of cancer treatment, early detection and screening of primary cancer or recurrence, and identification of treatment-resistant genetic variations.
Hospitals and physician laboratories segment accounted for largest revenue share in 2020 due to high number of cancer cases registered in hospitals. Emergence of cancer specialty hospitals in developing countries with availability of advanced procedures such as liquid biopsy are driving revenue growth of this segment. Wide application of liquid biopsy across physician laboratory settings is also contributing to growth of this segment.
Market in North America accounted for a significantly large revenue share in 2020 owing to presence of key players such as NeoGenomics Laboratories, Bio-Rad Laboratories Inc., and Thermo Fisher Scientific Inc., among others. Increased investment in research & development in liquid biopsy is further driving growth of the market. Continuous increase in number of cancer patients in the U.S. is also driving growth of the North America liquid biopsy market.

Emergen Research has segmented the global liquid biopsy market on the basis of product, circulating biomarkers, sample type, disease, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
Assays Kits
Instruments
Services

Circulating Biomarkers Outlook (Revenue, USD Billion; 2018–2028)
Circulating Tumor DNA (ctDNA)
Circulating Tumor Cells (CTCs)
Extracellular Vesicles (EVs)
Cell-Free DNA (cfDNA)
Other Circulating Biomarkers

Sample Type Outlook (Revenue, USD Billion; 2018–2028)
Blood Sample based
Urine Sample based
Other Bio Fluids based

Disease Outlook (Revenue, USD Billion; 2018–2028)
Oncology
Breast Cancer
Lung Cancer
Prostate Cancer
Colorectal Cancer
Melanoma Cancer
Other Cancers
Non-cancer disease

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Application Outlook (Revenue, USD Billion; 2018–2028)
Early Cancer Screening
Therapy Selection
Treatment Monitoring
Recurrence Monitoring Orthopedics

End-use Outlook (Revenue, USD Billion; 2018–2028)
Hospitals and Physician Laboratories
Reference Laboratories
Academic and Research Centers
Others

Regional Outlook (Revenue, USD Billion; 2018–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Israel
Rest Of MEA

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Key questions addressed in the report:
What are the key factors driving the global Liquid Biopsy market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global Liquid Biopsy market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?

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¹ https://www.emergenresearch.com/industry-report/liquid-biopsy-market