Liquid Biopsy Market Study for 2022 to 2028 Providing Information on Growth Drivers, and Industry Analysis
Global Liquid Biopsy Market was valued at USD 1.32 billion in 2021 and is expected to reach USD 4.79 billion by the year 2028, at a CAGR of 20.2%.
A liquid biopsy is a simple and non invasive alternative to surgical biopsies that allows doctors to learn about tumors from a simple blood sample. In 1994, scientists advanced to the point where they could detect specific mutations in cfDNA. Dennis Lo discovered fetal cfDNA in the blood in 1997, and Veridex released the first commercially available liquid biopsy assay, the CELL SEARCH CTC test, in 2000. The FDA approved the first liquid biopsy test, the Cobas EGFR Mutation Test, as a cfDNA test for the EGFR gene mutation in lung cancer patients' blood in June 2016.
The global Liquid Biopsy market report provides comprehensive market information, including classifications, definitions, and market analysis. This also helps with the awareness of various item specifics, the manufacturing cycle, the supply chain, and the cost structure. Along these lines, the understanding of the project's structural squares and key drivers of development is enhanced. To estimate the market size, boundaries such as import and fare, rules in various nations, inflation, legal and political variables, financial elements, and other minor aspects inside organizations have been broken down. The research examines the competitive landscape as well as the most current positions of major rivals in the Liquid Biopsy industry.
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Key Industry Players in the Liquid Biopsy Market:
• F. Hoffmann La Roche Ltd. (Switzerland)
• Myriad Genetics Inc. (US)
• QIAGEN N.V. (Netherlands)
• Thermo Fisher Scientific Inc. (the US)
• Guardant Health Inc. (the US)
• BIOCEPT Inc. (the US)
• Illumina Inc. (the US)
• Angle plc (UK)
• Oncimmune(UK)
• Lucence health Inc. (US)
• FreenomeHoldings Inc. (US) and Other Major Players.
The research study includes an examination of many aspects that contribute to the market's expansion. Market trends, restrictions, and drivers that have a favorable or negative influence on the market are included. This section also discusses the many businesses and applications that may have an impact on the market in the future. The information is based on both recent and historical patterns. The cost structure, market size, Liquid Biopsy Sales, Gross Margin and Market Share, Price, Revenue, Size, Forecast, and Growth Rate are all calculated in the report.
By Cancer Type:
• Lung
• Breast
• Liver
• Others
By Circulating Biomarker:
• Circulating Tumor DNA
• Circulating Tumor Cells
• Others
By End User:
• Hospitals
• Laboratories
• Government Research Centre
By Region:
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
1.4.2
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The coronavirus disease (COVID 19) has spread across the globe. Hence, governments have imposed several rules and lockdowns across the globe, owing to increase in number of
corona virus patients, which has impacted the market growth in the initial phase of the forecast period. This has resulted in the suspension of early diagnosis programs. In addition, there has been a decrease in screenings, visits, therapies, and surgeries related to cancer, with variation by cancer type and site of service globally resulting in increase of cancer morbidity and mortality in 2020. The pandemic has also impacted the logistics and supplies of cancer diagnostic raw materials and components and other essential commodities used in the production of liquid biopsy. These factors limit the growth of the liquid biopsy market during COVID 19 pandemic.
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The liquid biopsy market is experiencing growth due to advancements such as next generation sequencing for advanced cancer patients in liquid biopsies, increase in number of cancer patients, and rise in patient preference for minimally invasive therapies. However, lack of awareness of liquid biopsy in the developing regions restricts to the market growth. On the contrary, increase in healthcare expenditure in the developing countries, such as India and China, and use of liquid biopsy tests to treat rare cancers are expected to present ample opportunities for market growth.
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