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(Medical-NewsWire.com, July 28, 2020 ) The key factors driving the growth of this market include increasing prevalence of cancer, initiatives undertaken by government and global health organizations, increasing preference for non-invasive procedures, technological advancement to augment market revenues, rising emphasis on personalized medicine, and availability of funding for liquid biopsy R&D.
According to the new market research Liquid Biopsy Market is expected to reach $2,047.9 Million by 2022 from an estimated $715.7 Million in 2017, at a CAGR of 23.4%.
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•Based on product and service, the liquid biopsy market is segmented into assay kits, instruments, and services. Among these, the assay kits segment is expected to be the fastest-growing segment in the product and services market during the forecast period.
•Based on application, the liquid biopsy market is segmented into cancer and non-cancer applications (which include reproductive health and organ transplant diagnostics). The non-cancer application segment is expected to be the fastest-growing segment in the market during the forecast period.
•Based on circulating biomarkers, the market is categorized into circulating tumor cells (CTCs), circulating tumor DNA (ctDNA), cell-free DNA (cfDNA), extracellular vesicles (EVs) and other circulating biomarkers. The circulating tumor DNA segment is expected to be the fastest-growing segment in the circulating biomarkers market during the forecast period.
North America is expected to account for the largest share of the liquid biopsy market in 2017, followed by Europe. A number of factors such as the easy accessibility and high adoption of advanced diagnostic technologies (such as PCR and NGS) among healthcare professionals, rising prevalence of cancer in the US and Canada, technological advancements in liquid biopsy products, and growing public and private funding to support research activities in the field of liquid biopsy are aiding market growth in the region.
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The key players in the global liquid biopsy market are QIAGEN N.V. (Netherlands), Roche Diagnostics (US), Bio-Rad Laboratories Inc. (US), Myriad Genetics, Inc. (US), Menarini Silicon Biosystems (Italy), Genomic Health, Inc. (US), Thermo Fisher Scientific Inc. (US), Illumina, Inc. (US), Biocept, Inc. (US), Trovagene, Inc. (US), Guardant Health, Inc. (US), RainDance Technologies, Inc. (US), and MDx Health SA (US).
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