Pune, India, March 10, 2022 (GLOBE NEWSWIRE) -- The global liquid biopsy market size is set to experience dynamic growth in the forthcoming years owing to the increasing prevalence of different types of cancers across the world, finds Fortune Business Insights™ in its report, titled “Liquid Biopsy Market, 2021-2028”.
In recent years, there has been an increasing prevalence of various types of cancers such as lung cancer, stomach cancer, and others among the majority of world population, which has resulted in the rising importance for the medical procedures such as liquid biopsy that proves useful in finding a variety of information about cancer diseases with the use of blood samples. Thus, this is a crucial factor responsible for the growth of this market.
Industry Development:
November 2019: Biocept, Inc. announced the commercial availability of its Target Selector pan-TRK assay, a liquid biopsy test to detect TRK biomarkers in the blood of patients diagnosed with cancer.
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Market Growth Drivers:
There have been an increasing research and development activities in liquid biopsy in order to ease the procedure of the treatment of cancer diseases. This is a major factor responsible for the growth of this market.
- Introduction of Technologically Advanced Systems to Propel Liquid Biopsy Market Growth
- Extensive Distribution Network, Strong Portfolio, and Stout Brand Presence to Boost the Market
- Rapid Shift towards Latest Technology in Developed and Emerging Countries
- Launch of Innovative and Advanced Products is Propelling the Growth of the Market
- Clinical Efficiency of New Products to Boost its Adoption during 2021-2028
- Higher Demand in COVID-19 Pandemic to Propel Liquid Biopsy Market Growth
- Product Innovations and Regional Expansions to Augment Market Growth
- Growing Research & Development Investments and Increasing New Product approvals to Drive Market Growth
- Robust Product Offerings by Key Players to Propel Industry Growth
- Strategic Partnerships Coupled with Strong Brand Presence to Foster Company Growth
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Market Segmentation:
On the basis of product, this market is categorized into kits and consumables, instruments, and services. Based on end-user, the market is divided into hospitals and physician laboratories, specialty clinics, academic and research centers, and others. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Insights:
- North America region is anticipated to witness substantial growth in the liquid biopsy market share on account of the increasing application of liquid biopsy and rising research and development activities in liquid biopsy in this region.
- Europe is projected to grow at a decent pace in this market owing to the increasing prevalence of cancer disease and the rising awareness about liquid biopsy among the people in this region.
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List of Key Players Covered in the Liquid Biopsy Market Report:
- Biocept, Inc.
- MDxHealth
- F. Hoffmann-La Roche Ltd
- Genomic Health, Inc.
- Bio-Rad Laboratories, Inc.
- ExoDx.
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