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Global Liquid Biopsy Market to Attain a Revenue of USD 25874 Million by 2028 Due to Rising Incidences of Cancer Worldwide and the Need for Early Diagnosis of the Disease

Key Companies Covered in the Liquid Biopsy Market Research Report Are Qiagen, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, Inc., Illumina, Inc., Inivata Limited, Agena Bioscience, Inc., Thermo Fisher Scientific, Guardant Health, Inc., and other key market players.

/EIN News/ -- New York, Nov. 15, 2021 (GLOBE NEWSWIRE) -- According to the statistical report titled “Global Action Plan for the Prevention and Control of NonCommunicable Diseases (2013-2020)” of the World Health Organization (WHO), annually over 36 Million people die of noncommunicable diseases (NCDs). Moreover, in the year 2020, deaths caused due to cancer were nearly 10 Million. Furthermore, the number of new cancer cases per year by 2040, according to the statistics by International Agency for Research on Cancer, is expected to rise to 29.5 Million, whereas the number of deaths caused due to cancer is estimated to reach 16.4 Million in the same year.

Research Nester has recently added a market research report titled “Global Liquid Biopsy Market” which is studied for the period 2019-2028. The report provides an in-depth analysis of the latest market trends, and the market dynamics, such as the key growth factors, opportunities, as well as challenges, and also includes detailed information on the leading players that are operating in the market.

Globally, the incidences of cancer are growing. The burden of the disease on the economy is notably high, which is why both private and public players are investing heavily to find a cure for the disease. According to the statistics by the American Cancer Society, the extramural funded amount for early detection, diagnosis & prognosis of cancer, and for cancer control, survivorship & outcome research in the year 2020 in the United States was USD 7,288,000 and USD 23,524,800 respectively. Further, according to the statistics by the World Bank, the current healthcare expenditure per capita grew from USD 479.83 Thousand in 2000 to USD 1,111.082 Thousand in 2018. On the other hand, the rising need to meet the voluntary global targets for the prevention and control of noncommunicable diseases worldwide which states to reduce premature mortality from cardiovascular diseases, cancer, diabetes, or chronic respiratory diseases by 25%, is raising the need to develop advanced diagnostic tools and procedures for such NCDs, which is anticipated to drive the growth of the global liquid biopsy market. The market, which garnered a revenue of USD 3168 Million in 2019 is further projected to reach USD 25,874 Million by the end of 2028 by growing with a CAGR of 30.7% during the forecast period, i.e., 2020-2028.

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The global liquid biopsy market is segmented by region into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Out of the market in these regions, the market in North America is anticipated to hold the largest market share throughout the forecast period and attain market revenue of USD 9,363 Million by 2028, up from a revenue of USD 1220 Million in 2019. Moreover, the market in the region is also anticipated to grow with a significant CAGR of 29.7% during the forecast period. The presence of a strong healthcare network in the region, and the rising incidences of cancer in the United States, are some of the major factors anticipated to drive the market growth in the region. In other statistics by the American Cancer Society, the new cases of cancer in the U.S. in the year 2021 are estimated to reach 1,898,160. Amongst the males, it is expected to reach 970,250, whereas, amongst the females, it is estimated to reach 927,910. The market is segmented by country into the U.S. and Canada. Amongst these, the market in the U.S. is expected to grab highest market share during the forecast period.

In Europe, the global liquid biopsy market is anticipated to hold the second-leading market share during the forecast period and further grab a market revenue of USD 1,229 Million in the year 2021. The market in the region is also anticipated to grow with the highest CAGR of 32.8% during the forecast period. Increasing government support for cancer research, backed by the growing concern for the increasing incidences of cancer in several countries in the region, is one of the major factors anticipated to drive the market growth. According to the statistics by the Global Cancer Observatory (GLOBOCAN) of the World Health Organization (WHO), the number of new cancer cases in Europe in the year 2040 is estimated to grow up to 5,323,141, up from 4,398,443 in 2020.  The market in the region is segmented by country into Germany, France, Spain, Russia, UK, Italy, Netherland, and the Rest of Europe. Amongst these countries, the market in Germany is expected to hold the largest market share of close to 18% during the forecast period, followed by Russia, with a share of about 17% over the same period.

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The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

The global liquid biopsy market is segmented by product into tools, assay kits & reagents, and services. Amongst these segments, the tools segment is anticipated to hold the largest market share of around 66% in 2021. Increasing advancements in the development of new tools for performing liquid biopsy processes in cancer patients is one of the major factors anticipated to drive the growth of the segment during the forecast period. In the year 2021, the segment is expected to garner a revenue of USD 2481.3 Million, and by 2028, it is projected to reach USD 17835.9 Million.

The market is also segmented by disease indication into lung cancer, colorectal cancer, breast cancer, prostate cancer, liver cancer, head & neck cancer, and others. Out of these segments, the breast cancer segment is expected to hold the largest market revenue and reach USD 6703.1 Million by the end of 2028. Further, in 2021, the segment is expected to attain USD 908.3 Million.

The global liquid biopsy market is also segmented on the basis of biomarker type, sample, clinical application, and by end-users.

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Global Liquid Biopsy Market, Segmentation by Biomarker Type

  • Circulating Tumor Cells
  • Circulating Tumor DNA
  • Exosomes
  • Circulating RNA & Proteins
  • Nucleosomes
  • Early Disease Screening
  • Therapy Selection
  • Treatment Response Monitoring

Global Liquid Biopsy Market, Segmentation by Sample

  • Blood
  • Urine
  • Others

Global Liquid Biopsy Market, Segmentation by Clinical Application

  • Early Disease Screening
  • Therapy Selection
  • Treatment Response Monitoring
  • Molecular Health Monitoring
  • Others

Global Liquid Biopsy Market, Segmentation by End Users

  • Hospitals
  • Clinics
  • Research Laboratories
  • Academic Institutes
  • Others

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Some of the leading players in the global liquid biopsy market are Qiagen, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, Inc., Illumina, Inc., Inivata Limited, Agena Bioscience, Inc., Thermo Fisher Scientific, Guardant Health, Inc. and others.

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