Liquid Biopsy Market Is Estimated To Witness High Growth Owing To Detection Of Circulating Tumor Cells
Liquid Biopsy Market
The Liquid Biopsy Market is estimated to be valued at Us$ 13,220 Mn in 2022 and is expected to exhibit a CAGR Of 4.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Liquid biopsy is a non-invasive blood test for detecting various types of
cancer in the body. It allows doctors to obtain sample of tumor DNA circulating
in the bloodstream. This technology is useful for monitoring cancer
progression, detecting recurrence and determining the best treatment options.
It provides safer and cost-effective alternative to surgical biopsy.
Market Dynamics:
Rising adoption for non-invasive detection of cancer is a major driver of
growth for the liquid biopsy market. Liquid biopsies offer a seamless
alternative to surgical tissue biopsies, which are more complex and invasive
procedures. Additionally, ongoing advancements in liquid biopsy technologies
such as newly developed assays, next-generation sequencing, and rapid detection
kits are also fueling market growth. Researchers are using liquid biopsies to
identify new biomarkers and develop new therapies, thus increasing the clinical
applications of liquid biopsy.
Market key trends:
One of the major trend fueling the growth of liquid biopsy market is its
ability to detect circulating tumor cells (CTCs). CTCs are tumor cells that
shed from primary tumor sites and circulate through blood. Detection of CTCs is
considered as one of the promising approach for early cancer screening and
metastasis monitoring. Liquid biopsy can detect the presence of CTCs using
technologies like PCR, immunoaffinity capture and microfluidics. This allows
physicians to identify cancers at early stages and monitor therapeutic
responses. Researchers are also exploring new approaches like isolation and
characterization of CTCs to gain more insights about metastatic cancer and
develop new treatments. Advancements in CTC detection technologies using liquid
biopsy are expected to drive significant market growth over the forecast
period.
Key Takeaways
The global Liquid Biopsy Market is expected to
witness high growth, exhibiting a CAGR of 4.5% over the forecast period, due to
increasing prevalence of cancer cases globally.
North America dominated the global market in 2022 and is expected to continue
its dominance over the forecast period. This is attributed to increasing
healthcare expenditure and presence of advanced healthcare infrastructure in
the region. Asia Pacific is expected to exhibit fastest growth over the
forecast period owing to growing initiatives by public and private
organizations to spread awareness about early cancer detection.
The global liquid biopsy market size was valued at US$ 13,220.0 Mn in 2022. The
market size is projected to reach US$ 20,432.9 Mn by 2028.
Key players operating in the liquid biopsy market are Guardant Health, F.
Hoffmann-La Roche Ltd, Exact Sciences Corporation, Myriad Genetics, Bio-Rad
Laboratories Inc., Qiagen N.V., Menarini Silicon Biosystems, Thermo Fisher
Scientific Inc., Illumina Inc. and MDxHealth SA.
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