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Liquid Biopsy Market Size To Register A CAGR of 18.9% And Reach A Value Of USD 15.2 billion By 2032 |MRFR

Oct 5, 2023 8:00 PM ET

Liquid Biopsy Market Size To Register A CAGR of 18.9% And Reach A Value Of USD 15.2 billion By 2032 |MRFR

Liquid Biopsy Market Research Report Information By Biomarker Types (Circulating Tumor Cells, Circulating Tumor DNA, Extracellular Vesicles, and Other Biomarker), By Application (Cancer Therapeutic Application, Reproductive Health, and Other Therapeutic), By Sample (Blood Sample, Urine Sample, and Other), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032

Market Overview

The liquid biopsy market size was valued at USD 3.17 billion in 2021 and is projected to grow from USD 3.81 Billion in 2022 to USD 15.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.9% during the forecast period (2023 – 2032).

A precision oncology technology that is quickly evolving is liquid biopsy, which allows for minimally invasive molecular diagnostics and longitudinal monitoring. Quantifying and identifying circulating DNA have become standard clinical practice for treating advanced-stage lung cancer. A new source of cancer biomarkers is now available thanks to liquid biopsy technology, which gives clinical studies fresh perspectives. The federal government’s increased funding will likely be the main factor driving the market’s growth pace. There will be attractive potential for market growth as the healthcare sector grows and expands, fueled by private and public players, particularly in developing economies. Additionally, the market will benefit from the substantial return on investment guaranteed by research efforts. The market is also expanding due to augmented clinical studies to create innovative liquid biopsy assays.

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Due to its growing use as a predictive and diagnostic tool, it has excellent potential for market expansion. Compared to people without cancer, persons with cancer are more likely to become infected with SARS-CoV-2. In recent years, the market CAGR for liquid biopsy has been positively impacted by government initiatives to raise awareness, particularly in developing economies, the rise in personal disposable income, the introduction of technologically advanced products in hospitals, increased investment in the development of cutting-edge medical products and devices, and the rise in demand for minimally invasive surgical procedures. It aids in early cancer detection, the identification of therapeutic resistance mechanisms, and the customization of medications for disease detection, all of which are projected to support market expansion. Due to reasons like the rising prevalence of oncology problems, growing demand for minimally invasive cancer testing, and an aging population, the marketplace for liquid biopsy is expanding.

Market Competitive Landscape:

  • Guardant Health, Inc. (US),
  • MDxHealth SA (Belgium),
  • ANGLE plc (UK),
  • Menarini-Silicon Biosystems (Italy),
  • Hoffmann-La Roche Ltd. (Switzerland),
  • Myriad Genetics, Inc. (US),
  • QIAGEN (Netherlands),
  • Thermo Fisher Scientific, Inc
  • Vortex Biosciences, Inc. (US),
  • Exosome Diagnostics, Inc. (US),
  • Agena Bioscience, Inc. (US),
  • MedGenome Inc. (US),
  • Epigenomics AG (Germany),
  • Personal Genome Diagnostics, Inc. (US),

Market Segmentation

Circulating tumor cells, circulating tumor DNA, and extracellular vesicles are among the liquid biopsy market segments based on biomarker types. Application into cancer therapeutic applications, reproductive health applications, and other therapeutic applications have segmented the market data for liquid biopsies. The liquid biopsy market has been divided into urine samples, blood samples, and other segments based on the sample.

Regional Insights

Due to several essential firms, North America contributed the most to the overall revenue. The development of the liquid biopsy market in North America is supported by the region’s high cancer prevalence and widespread use of innovative liquid biopsy diagnostics. However, Asia-Pacific is anticipated to have the greatest CAGR over the analysis period. An increase in disposable income explains this, government measures to improve the healthcare system, and an increase in healthcare costs. Additionally, agreements between top industry players and strategic approvals that will encourage liquid biopsy technology in this area are anticipated to accelerate market expansion. The liquid biopsy market in Asia-Pacific is anticipated to expand at the quickest CAGR. This is brought on by increasing investments made by major companies in developing innovative devices, the expansion of drug development processes, the strict regulatory environment facing the pharmaceutical industry, and increased studies conducted in this area.

Browse In-depth Market Research Report (171 Pages) on Liquid Biopsy:

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