JERSEY CITY, N.J., Nov. 6, 2020
The initiatives taken by the government and global health organizations along with technological advancements to increase market revenues are some of the factors that are driving the growth of the global liquid biopsy market
JERSEY CITY, N.J., Nov. 6, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Liquid Biopsy Market by Circulating Biomarker (Circulating Tumor Cells (CTCs), Circulating Tumor DNA (ctDNA), Cell-Free DNA (cfDNA), Extracellular Vesicles (EVs)), by End User (Reference Laboratories, Hospitals and Physician Laboratories, Academic and Research Centers), by Application (Cancer Applications, Non Cancer Applications), by Product and Services (Assays Kits, Instruments, Services), by Clinical Application, Geography". According to Verified Market Research, the Global Liquid Biopsy Market was valued at USD 1063.71 million in 2019 and is projected to reach USD 5027.46 million by 2027, growing at a CAGR of 23.12% from 2020 to 2027.
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Global Liquid Biopsy Market Overview
The growth of the global liquid biopsy market is being driven by rapid enhancements in NSG technology. The liquid biopsy will take a prominent position for cancer-related probe and investigation. The liquid biopsy is rapidly substituting conventional tumor biopsies. These are developed out of the need to acquire the most amount of molecular information about cancer. This cancer information is obtained with the least amount of surgical invasion. Furthermore, the clinical trials for the development of these tests have given positive results and have led to larger scaled clinical trials demonstrating efficacy. Moreover, the increasing prevalence of cancer, the increasing preference towards noninvasive procedures are some of the key drivers that are propelling the growth of the global liquid biopsy market.
However, some restraints are expected to limit the growth of the global liquid biopsy market. The issues related to low sensitivity and specificity are expected to hamper the growth of the global liquid biopsy market. Also, the unclear regulatory and reimbursement scenario will create setbacks for the growth of the global liquid biopsy market. Some of the major companies include Biocept, Inc., Qiagen, F. Hoffmann-La Roche AG, Bio-Rad Laboratories Inc., Myriad Genetics, Janssen Diagnostics, LLC, Trovagene Inc., Guardant Health Inc., GRAIL, and MDX Health SA.
Verified Market Research has segmented the Global Liquid Biopsy Market on the basis of Product and Service, Circulating Biomarker, Clinical Application, End-User, Application, and geography.
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