NEWARK, Del, Oct. 30, 2023 (GLOBE NEWSWIRE) -- It is anticipated that the value of the worldwide liquid biopsy market will increase from US$ 1,538.3 million in 2023 to US$ 10,938.6 million in 2033. The forecasted expansion in the worldwide liquid biopsy market over the following ten years is anticipated to be driven by an astounding CAGR of 21.7%.
Several biomedical research centers and the pharmaceutical industry aim to enhance treatments' efficacy and detect a pathological condition at its early stage. Since clinical genetic analyses and cancer diagnosis require sampling via tumor biopsy, the increasing cases of cancer across the globe are creating an optimistic outlook for the sales of liquid biopsy over the next decade.
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Presently, tumor tissue is a gold standard source for cancer characterization and diagnosis. Key players are working on the current barriers associated with its usage to extend its applicability in the future.
Several studies have also come to light that discover the potential of liquid biopsy approaches to determine the genetic profiles of cancer in cancer patients. The studies also consider the responses to monitor treatment and latch on to the inception of therapy resistance. In recent years, the demand for personalized treatment options has propelled the use of liquid biopsy.
Liquid biopsy is also rising due to its availability in numerous labs, even in emerging economies, and its affordability. For instance, liquid biopsy tests can be found in several labs in India. 4baseCare is one of the leading companies that offer affordable and advanced comprehensive genetic testing solutions in the country.
“Key players are bringing cost reductions in liquid biopsy tests and partnering with local product distributors to strengthen their network base in target markets. Currently, a trend toward emerging economies has been spotted, as cancer cases are particularly on the rise, and a large population base provides significant opportunities in these markets,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).
Key Takeaways:
- The North America liquid biopsy market is expected to account for a leading share of 50.84%. The United States is predicted to account for 43.8%, enjoying a dominant share in the global and regional markets.
- The Europe market is anticipated to acquire a market share of 19.6% in 2023. Germany holds a prominent share of the region. In 2023, the country is predicted to amass a 6.6% share of the global market.
- In Europe, the United Kingdom is predicted to expand at a robust CAGR of 26.4% through 2033.
- In Asia Pacific, China and India display a remarkable percentage of growth, i.e., 29.7% and 24.4%, respectively, through 2033.
- CTC (Circulating Tumor Cells) is projected to obtain a significant market share of 56.9% by biomarker type in 2023.
- By sample type, blood sample type holds prominence in the liquid biopsy market.
Liquid Biopsy Market Report Coverage:
| Report Attribute | Details | ||
| Growth Rate | CAGR of 21.7% from 2023 to 2033 | ||
| Expected Market Value (2023) | US$ 1,538.3 million | ||
| Anticipated Forecast Value (2033) | US$ 10,938.6 million | ||
| Base Year for Estimation | 2022 | ||
| Historical Data | 2018 to 2022 | ||
| Forecast Period | 2023 to 2033 | ||
| Quantitative Units | Revenue in US$ million and CAGR from 2023 to 2033 | ||
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis | ||
| Segments Covered |
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| Regions Covered |
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Liquid Biopsy Market Segmentation:
By Biomarker Type:
- CTCs (Circulating Tumour Cells)
- ctNA (Circulating tumor Nucleic Acids)
- Exosomes
By Sample Type:
- Blood Liquid Biopsy
- Urine Liquid Biopsy
- Other (Plasma, Saliva, CSF) Liquid Biopsy
By Application Type:
- Liquid Biopsy for Lung Cancer
- Liquid Biopsy for Gastrointestinal Cancer
- Liquid Biopsy for Prostate Cancer
- Liquid Biopsy for Breast Cancer
- Liquid Biopsy for Colorectal Cancer
- Liquid Biopsy for Leukemia
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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