“Global Liquid Biopsy Market Analysis & Opportunity Outlook 2021”
The global liquid biopsy market is segmented into biomarkers such as circulating tumor cells (CTCs), extracellular vesicles (Exosomes) and cell-free circulating DNA (cfDNA). Among these segments, circulating tumor cells (CTCs) segment is expected to occupy top position in overall liquid biopsy market during the forecast period. Further, ability to detect the cancer outcome predictions through prognostic scoring is driving the growth of the circulating tumor cells (CTCs) segment. Furthermore, advancements by the manufacturing companies such as development of high end systems are envisioned to bolster the growth of circulating tumor cells market during the forecast period.
Global liquid biopsy market is expected to flourish at a CAGR of 25.0% over the forecast period. Moreover, the global liquid biopsy market is anticipated to garner USD 10,850 Million by the end of 2021. Factors such as increasing penetration of cancer, rising awareness regarding the detection of cancer, increasing healthcare expenditure are anticipated to be the dynamic factor behind the growth of liquid biopsy market.
North America dominated the overall market of liquid biopsy in 2016. Further, North America is projected to continue its dominance over the forecast period owing to the rising incidences of cancer in the region. Moreover, rising spending on cancer care is expected to positively impact the growth of the liquid biopsy market. Asia Pacific liquid biopsy market is anticipated to witness robust growth during the forecast period. Factors such as increasing medical tourism, rising number of specialty hospitals are anticipated to garner the growth of liquid biopsy market in the Asia Pacific region.
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Increasing Prevalence of Cancer across the Globe
High growth in the number of new cases of cancer is anticipated to provide robust growth to the liquid biopsy market during the forecast period. According to World Health Organization, new cases of cancer are anticipated to increase by 70% by 2037. Consequently, this factor is anticipated to increase the demand for liquid biopsy kits and systems during the forecast period.
Rising Awareness about Early Detection of Cancer
Different awareness programs by Government of various countries and initiatives to reduce the cancer mortality rate are expected to trigger the growth of liquid biopsy market over the forecast period. Further, rising awareness among people is increasing the demand for early diagnosis and screening programs which further, is anticipated to drive the growth of liquid biopsy market. However, high cost of clinical procedures and absence of reimbursement schemes are likely to inhibit the growth of the Global Liquid Biopsy Market in the near future.
The report titled “Global Liquid Biopsy Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global liquid biopsy market in terms of market segmentation by biomarkers, by sample type, by cancer type and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global liquid biopsy market which includes company profiling of Allergan Inc., Cutera Inc., Alma Lasers Ltd., Johnson & Johnson, IRIDEX Corporation, Genesis Biosystems, Inc, Lumenis Ltd., Merz Pharma and Karl Leibinger Medizintechnik GmbH & Co. KG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global liquid biopsy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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