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Surge in number of cancer patients and rise in preference for minimally invasive procedures are some key factors driving liquid biopsy market revenue growth

VANCOUVER, BC, CANADA, February 21, 2022 /EINPresswire.com/ -- Liquid Biopsy Market size is expected to reach USD 5.53 Billion in 2028 and register a steady revenue CAGR of 20.8% during the forecast period, according to latest analysis by Emergen Research. Rise in demand for early detection of cancer is a key factor driving global liquid biopsy market revenue growth.

Liquid biopsy is a safe and popular procedure carried out during examination of cancer. The procedure is easy and minimally invasive, allows early detection and diagnosis of cancer, and helps in identification of cancer treatment. Surge in preference for non-invasive procedures is driving private and public funding to support research activities in the liquid biopsy field. Liquid biopsies allow medical professional to discover various aspects of a tumor through a patient’s blood sample.

The report provides valuable data on key driving forces, prominent players, emerging trends, gross margin, customer preference and profit across various regions for the forecast period, 2021-2028. To help product owners design a robust plan the study takes a closer look at the product pricing, technology innovation, key competitors, product launches, product pipeline and major driving forces.

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The all-encompassing study pertaining to the market share, growth and size equip stakeholders, business owners, and field marketing personnel to obtain a unique knowledge about the current business environment to offer a competitive advantage over the giants. Deep dive into past, present, and future industry trends include in the market intelligence report reveals a lot about the strategic capabilities business owners can leverage to gain a strong foothold in the business world. 

 key findings

Assay Kits segment accounted for largest revenue share in 2020 due to increasing demand for liquid biopsy tests. High demand for these assays in hospitals and cancer clinics for early diagnosis is driving revenue growth of this segment.

Circulating Tumor DNA (ctDNA) segment accounted for a significantly large revenue share in 2020 as liquid biopsy based on ctDNA analysis has shed new light on monitoring of cancer and molecular diagnostics. Liquid biopsy based ctDNA testing opens doors to potential uses such as analysis of effectiveness of cancer treatment, early detection and screening of primary cancer or recurrence, and identification of treatment-resistant genetic variations.

Hospitals and physician laboratories segment accounted for largest revenue share in 2020 due to high number of cancer cases registered in hospitals. Emergence of cancer specialty hospitals in developing countries with availability of advanced procedures such as liquid biopsy are driving revenue growth of this segment. Wide application of liquid biopsy across physician laboratory settings is also contributing to growth of this segment.

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The report also discusses the key players involved in the market such as Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Adaptive Biotechnologies, NeoGenomics Laboratories, Guardant Health, Inc., RainDance Technologies, Inc., Biocept, Inc., Qiagen N.V., Trovagene, Inc., and F. Hoffmann-La Roche Ltd. well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.

The report analyses the market based on different categories such as product types, end-user applications, and leading geographical regions. It offers key insights into the factors that are expected to influence the growth of the segments and sub-segments.

Major regions include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report studies the market in these regions on the basis of demand and trends, consumer behaviour and preferences, government initiatives and regulatory framework, economic growth, technological developments, supply and demand, production and consumption patterns, import/export, and presence of key players in each region.

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Emergen Research has segmented the global liquid biopsy market on the basis of product, circulating biomarkers, sample type, disease, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2018–2028)

Assays Kits

Instruments

Services

Circulating Biomarkers Outlook (Revenue, USD Billion; 2018–2028)

Circulating Tumor DNA (ctDNA)

Circulating Tumor Cells (CTCs)

Extracellular Vesicles (EVs)

Cell-Free DNA (cfDNA)

Other Circulating Biomarkers

Sample Type Outlook (Revenue, USD Billion; 2018–2028)

Blood Sample based

Urine Sample based

Other Bio Fluids based

Disease Outlook (Revenue, USD Billion; 2018–2028)

Oncology

Breast Cancer

Lung Cancer

Prostate Cancer

Colorectal Cancer

Melanoma Cancer

Other Cancers

Non-cancer disease

Application Outlook (Revenue, USD Billion; 2018–2028)

Early Cancer Screening

Therapy Selection

Treatment Monitoring

Recurrence Monitoring Orthopedics

End-use Outlook (Revenue, USD Billion; 2018–2028)

Hospitals and Physician Laboratories

Reference Laboratories

Academic and Research Centers

Others

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