Liquid Biopsy Global Market To Reach Value Of About $8 Billion In 2025
15 Nov, 2021
The liquid biopsy market consists of sales of liquid biopsy services and related products used to detect cancer at an early stage. Liquid biopsy is an easy and minimally invasive technology which involves test done on a blood sample to detect the DNA from tumor cells in the blood. Unlike surgical biopsies it allows medical doctors to find a tumor through a blood test. The liquid biopsy helps in planning further treatment for cancer.
Global Liquid Biopsy Market Size And Drivers:
The global liquid biopsy market is expected to grow from $3.40 billion in 2020 to $3.87 billion in 2021 at a compound annual growth rate (CAGR) of 13.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The liquid biopsy market is expected to reach $7.57 billion in 2025 at a CAGR of 18%. Government funds for refining cancer detection drive the growth of the liquid biopsy market.
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Trends In The Global Liquid Biopsy Market
Companies are rapidly adopting new market dynamics and focusing primarily on new product launches, to meet the ever-increasing need for liquid biopsy products and services, to increase their revenue and also for gaining a competitive edge over their rivals. For instance, In August 2020, Personalis, Inc., a USA based advanced cancer genomics company, revealed the introduction of NeXT Liquid Biopsy, a high-performance, exome-scale, tumor-profiling device that uses blood samples from innovative solid tumor cancer patients. NeXT Liquid Biopsy, combined with Personalis' leading immunoid NeXT tissue profiling tool, allows a more detailed immuno-genomics image of the tumor which can now be tracked over time from blood samples. These abilities can enable biopharmaceutical businesses improve their knowledge of tumor biology, specifically resistance mechanisms, to help create next-generation cancer therapies. Thus, companies are investing in the development of new products in the liquid biopsy market.
Global Liquid Biopsy Market Segments:
The global liquid biopsy market is further segmented –
By Product: Assays Kits, Instruments, Services
By End User: Reference Laboratories, Hospitals and Physician Laboratories, Academic and Research Centers
By Clinical Application: Early Cancer Screening, Therapy Selection, Treatment Monitoring, Recurrence Monitoring Orthopedics
By Geography: The global liquid biopsy market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Liquid Biopsy Market At:
https://www.thebusinessresearchcompany.com/report/liquid-biopsy-market-global-reportLiquid Biopsy Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides liquid biopsy market overviews, analyzes and forecasts market size and growth for the global liquid biopsy market, liquid biopsy market share, liquid biopsy market players, liquid biopsy market segments and geographies, liquid biopsy market’s leading competitors’ revenues, profiles and market shares. The liquid biopsy market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.