July 13, 2020
As per the report titled ’ Global Liquid Biopsy Market: Analysis By Biomarkers (C-Tumor Cells, C-Tumor DNA, Vesicles), Cancer Type, By Product, By Region, By Country (2019 Edition): Opportunities and Forecast (2017-2024)’, available with Market Study Report LLC, global liquid biopsy market share was valued at USD 899.55 million in the year 2018, and is poised to record substantial growth by 2024.
Increasing focus towards immunotherapy for treating cancer, growing preference for precision medicines, rising healthcare expenditure, and widespread adoption of advanced diagnostic test by oncologists are adding significant momentum to the growth of global liquid biopsy market. Additionally, increasing awareness pertaining to early detection of cancer and high prevalence of the disease are further enhancing the market scenario.
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Rising R&D activities along with surging number of clinical trials are anticipated to add significant traction to the market growth. However, revenue generation for liquid biopsy depends on third-party buyers, which in turn may hamper the market growth.
Based on circulating biomarker, global liquid biopsy market is segmented into C-Tumor Cells, C-Tumor DNA, and vesicles. Among these, the report states that C-Tumor DNA segment is anticipated to showcase remunerative growth during the forecast period. This biomarker is extensively used during post and pre-cancerous stage since it provides an in-depth overview of tumor genomic status. Moreover, ongoing clinical trials suggest that exosomes and nucleosomes will allow for more efficient diagnostic results, which in turn is fueling the segmental share.
As per cancer type, the industry is bifurcated into prostate, colorectal, breast and lung segments. Elaborating on product types, the market is classified into reagents and instruments.
From the regional point of view, worldwide liquid biopsy market is split into Asia-Pacific, Europe, North America and Rest of the World, with key focus on regions such as Japan, France, Germany and U.S. among others.
Guardant Health, Thermo Fisher Scientific Inc., Roche Holding AG, and Qiagen among others are the major companies operating in global liquid biopsy market.