Arizton publishes the latest research report, the liquid biopsy market to grow at a CAGR of 23.19% during 2022-2028.
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The global liquid biopsy market has witnessed rapid expansion, with further growth anticipated in the coming years. This growth can be attributed to several key factors, including the rising prevalence of cancer, advancements in liquid biopsy technologies, and the increasing demand for personalized medicine.
As of 2022, the global liquid biopsy market was valued at $3.48 billion, and it is projected to reach $12.16 billion by 2028, exhibiting a robust compound annual growth rate (CAGR) of approximately 23.29%, as reported by Arizton. This substantial growth is primarily driven by the growing adoption of liquid biopsy techniques in clinical settings and sustained research and development endeavors in this field.
Government initiatives and funding play a pivotal role in advancing liquid biopsy technology, which holds the potential to revolutionize disease detection and treatment paradigms. It is imperative that government support and funding remain integral to ensure the continued development and success of liquid biopsy technology. This comprehensive report offers an in-depth analysis of the global liquid biopsy market, encompassing aspects such as market size, segmentation, key industry players, and future prospects.
The global liquid biopsy market is on the brink of experiencing significant growth and innovation, primarily propelled by technological advancements, a surge in clinical acceptance, and collaborative efforts among key industry stakeholders. The market’s segmentation based on technology, sample type, product, biomarker type, application, and end-user underscore its dynamic and multifaceted character. Liquid biopsy holds substantial promise for elevating patient outcomes and enhancing diagnostic capabilities, reshaping the landscape of disease detection, monitoring, and personalized medicine. Nevertheless, addressing challenges associated with technical constraints, regulatory considerations, reimbursement policies, and standardization is pivotal to fully unlocking the market’s potential.
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North America’s Dominance in the Global Liquid Biopsy Market
In 2022, North America asserted its dominance in the global liquid biopsy market, commanding a substantial share of over 48%. This region’s increasing embrace of liquid biopsy technology is a response to the rising incidence of cancer in both the United States and Canada, coupled with a growing awareness of the early diagnostic advantages offered by this innovative approach. Liquid biopsies can furnish intricate insights into disease presence, type, and progression within the body, often well ahead of traditional diagnostic methods and procedures.
Within Europe, the growth of the global liquid biopsy market represents a highly disruptive development in the realm of cancer treatments. The non-invasive nature of liquid biopsy testing holds tremendous promise, particularly for elderly or medically fragile patients, as it mitigates the risks associated with invasive tissue sampling. This makes liquid biopsy an exceptionally efficient option for early cancer cell detection in such patients, prompting significant investments by numerous European governments in its research and development. Moreover, owing to its heightened accuracy compared to conventional tissue biopsies, liquid biopsy testing has gained broader acceptance among healthcare professionals in several European nations.
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Key Company Profiles
- Agilent Technologies
- F. Hoffmann-La Roche
- Guardant Health
- Thermo Fisher Scientific
- Agena Bioscience
- Bio-Rad Laboratories
- Caris Life Sciences
- Freenome Holdings
- Invitae Corporation
- Laboratory Corporation of America
- Lucence Health
- LungLife AI
- Menarini Silicon Biosystems
- NeoGenomics Laboratories
- Sysmex Corporation
- Kits & Reagents
- Instruments & Platforms
- Cell-free DNA (cfDNA) & Circulating Tumor DNA (ctDNA)
- Circulating Tumor Cells (CTCs)
- Extracellular Vesicles (EVs)
- Next-generation Sequencing (NGS)
- Polymerase Chain Reaction (PCR)
- Diagnostic Laboratories
- North America
- The US
- The UK
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
Key Questions Answered in the Report:
- How big is the liquid biopsy market?
- What is the growth rate of the global liquid biopsy market?
- Which region dominates the global liquid biopsy market share?
- What are the significant trends in the liquid biopsy industry?
- Who are the key players in the global liquid biopsy market?
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