The Liquid Biopsy For Cancer Diagnostics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Liquid Biopsy For Cancer Diagnostics Global Market Report 2024, The liquid biopsy for cancer diagnostics market size has grown rapidly in recent years. It will grow from $7.82 billion in 2023 to $9.17 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to advancements in genomic research, growing awareness of liquid biopsy benefits, increased prevalence of cancer, rise in demand for non-invasive cancer testing, expansion of precision medicine initiatives.
The liquid biopsy for cancer diagnostics market size is expected to see rapid growth in the next few years. It will grow to $16.42 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to integration of liquid biopsy in routine cancer diagnostics, adoption of liquid biopsy for early cancer detection, expansion of cancer screening programs, growing focus on personalized medicine in oncology, increased funding for liquid biopsy research. Major trends in the forecast period include emergence of multi-omics liquid biopsy approaches, integration of artificial intelligence in liquid biopsy analysis, expansion of liquid biopsy applications beyond oncology, development of blood-based biomarkers for cancer, customization of liquid biopsy assays for specific cancer types.
The rising incidence of cancer is expected to propel the growth of the liquid biopsy for cancer diagnostics market going forward. Cancer is a broad category of illnesses that can develop in nearly any organ or tissue in the body when aberrant cells proliferate uncontrollably, cross their usual boundaries, and either spread to other organs or invade neighboring body parts. Cancer increases the need for diagnostic procedures such as early cancer or tumor recurrence detection, risk assessment for each patient, and therapy monitoring to enable liquid biopsy to depict the full scope of the disease as tumor cells or tumor cell products are released from all metastatic or primary tumor sites, providing thorough and real-time information on tumor cell evolution, therapeutic targets, and mechanisms of therapy resistance. For instance, in 2021, According to the American cancer society, 1.8 million new cancer cases diagnosed in 2020. Furthermore, according to September 2020 data published by the National Cancer Institute, a US-based government agency part of the National Institutes of Health, 1,806,590 new cancer cases were recorded, indicating that 43% of all cancer diagnosed in men in the United States in 2020, up from 1,752,735 in the previous year, i.e., 2019. Therefore, the rising incidence of cancer is driving the growth of the liquid biopsy for cancer diagnostics market.
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The liquid biopsy for cancer diagnostics market covered in this report is segmented –
1) By Type: Product, Services
2) By Sample: Blood, Urine, Saliva
3) By Cancer: Lung Cancer, Breast Cancer, Colon Cancer, Other Cancers
4) By End-User: Hospitals, Diagnostic Centers, Other End-Users
Product innovations have emerged as a key trend gaining popularity in the liquid biopsy for cancer diagnostics market. Major companies operating in the liquid biopsy for cancer diagnostics market are concentrating on creating innovative products to strengthen their position in the market. For instance, in June 2023, BostonGene, a US-based biomedical software company, launched new liquid biopsy solutions to help identify clinically relevant gene alterations. The increased test portfolio will hasten the creation of new assays, analytical tools, and pipelines to provide patients with precision medicine. It will combine several artificial intelligence-driven molecular and immunological profiling methodologies to analyze tumors, microenvironments, and host immunity. Additionally, it supports immunotherapy treatment, gives data on a patient’s immune-related disorders, and monitors the progression of the disease and the response to treatment.
The liquid biopsy for cancer diagnostics market report table of contents includes:
1. Executive Summary
2.Liquid Biopsy For Cancer Diagnostics Market Characteristics
3.Liquid Biopsy For Cancer Diagnostics Market Trends And Strategies
4.Liquid Biopsy For Cancer Diagnostics market analysis
5.Liquid Biopsy For Cancer Diagnostics Market Size And Growth
6.Liquid Biopsy For Cancer Diagnostics Segmentation
7.Liquid Biopsy For Cancer Diagnostics Regional And Country Analysis
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27.Liquid Biopsy For Cancer Diagnostics Competitive Landscape And Company Profiles
28.Liquid Biopsy For Cancer Diagnostics Key Mergers And Acquisitions
29. Liquid Biopsy For Cancer Diagnostics Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- F. Hoffman La Roche Ltd.
- Thermo Fisher Scientific Inc.
- Agilent Technologies Inc.
- Illumina Inc.
- The Menarini Group
- Bio-Rad Laboratories Inc.
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