Future Outlook of Liquid Biopsy Market by 2029

Sonia Lewis

Research Nester published a report titled Liquid Biopsy Market: Global Demand Analysis & Opportunity Outlook 2029″ which delivers detailed overview of the global liquid biopsy market in terms of market segmentation by type of biomarker, application, sample collection type, product type, technology, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global liquid biopsy market is segmented by end-user into academic & research centers, hospitals & laboratories, and others, out of which, the hospitals & laboratories segment is projected to hold the largest market share by the end of 2021 owing to the increasing number of tests being done in in-house hospital laboratories and external laboratories.

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Increasing Prevalence of Cancer and the Need for Early Diagnosis

The World Health Organization (WHO), in one of its statistics, stated that globally, the second leading cause of death is cancer. Additionally, deaths caused due to cancer in the year 2018, registered to around 9.6 million cases.

The statistics portray the growing prevalence of cancer globally and therefore the increasing need amongst individuals for its early detection. Increasing preferences of medical practitioners for minimally invasive and non-invasive methods of sample collection for the detection of cancer is leading to the increase in adoption of liquid biopsy procedures. This procedure further allows the healthcare practitioners to gain more information on the cancer type and also allows real-time analysis. Moreover, increasing advancements in clinical research is further anticipated to drive the growth of the market during the forecast period.

The global liquid biopsy market is anticipated to grow with a significant CAGR during the forecast period, i.e., 2021-2029, owing to the numerous advantages of liquid biopsy over the conventional tumor biopsy, such as low risks, enhanced monitoring for drug response and resistance, and others, along with the rising awareness about minimally invasive procedures.

Regionally, the global liquid biopsy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions, out of which, the market in North America is anticipated to hold the largest market share by the end of 2021, backed by the growing healthcare infrastructure in the region, and the increasing advancements in research for the development of different analytical techniques for cancer.

However, the low specificity and sensitivity of liquid biopsy for the detection of cancer biomarkers is expected to operate as key restraint to the growth of the global liquid biopsy market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global liquid biopsy market which includes company profiling of OmeCare Inc. (Pathway Genomics), Biocept, Inc. (NASDAQ: BIOC), Exosome Diagnostics, Inc., QIAGEN GmbH (NYSE: QGEN), Roche Diagnostics (OTCMKTS: RHHBY), Bio-Rad Laboratories, Inc. (NYSE: BIO), NeoGenomics Laboratories, Inc. (NASDAQ: NEO), Biocartis NV (EBR: BCART), Guardant Health, Inc. (NASDAQ: GH), and Trovagene, Inc. (Cardiff Oncology) (NASDAQ: CRDF).

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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global liquid biopsy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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