The burgeoning prevalence of cancer cases globally, rising preference for non-invasive procedures, along with the significant rise in the funding by public and private companies to support research activities in the field of liquid biopsy, and introduction of several favorable government initiatives are some of the factors propelling the growth of Global Liquid Biopsy market in the forecast period. Moreover, a robust changing lifestyle of people, increasing consumption of alcohol and tobacco products and increasing inclination of oncologists and physicians to opt for non-invasive diagnostic procedures are also projected to fuel the growth of the market in the forthcoming years.
According to MarkNtel Advisors’ research report titled “Global Liquid Biopsy Market Analysis, 2020”, the Global Liquid Biopsy market is anticipated to grow at a CAGR of around 26% during 2021-26F. Based on Sample Test, the Blood sample test segment acquired the highest market share in 2019. Liquid biopsies tests are majorly conducted on blood samples for cancer diagnosis by examining biomarkers shed by tumors, such as cancer cells or pieces of tumor DNA. Thus, this helps doctors learn about a patient-specific type of cancer.
“Global Liquid Biopsy Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Liquid Biopsy providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Dominated the Market
North America dominated the Liquid Biopsy market in 2020 and the trend is expected to remain the same over the forecast period. The US acquired the majority market share in the North American market owing to the factors such as the rising number of cancer patients, burgeoning demand for non-invasive treatment, and surging government investments in the healthcare sector. Moreover, growth in pre-screening programs for cancer detection, extensive awareness among people regarding minimal invasive methods, and increasing funding on research on cancer biomarkers are anticipated to bolster the growth of the Liquid Biopsy Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Liquid Biopsy Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Liquid Biopsy market are Bio-Rad Laboratories, Biocept Inc, Abcodia Ltd, Chronix Biomedical, Epic Sciences Inc, Hoffmann-La Roche AG, Cynvenio Biosystems, Inc., GUARDANT HEALTH, INC, Illumina, Inc., NeoGenomics Laboratories, Inc., Menarini Silicon Biosystems, Inc., Qiagen N.V., Thermo Fisher Scientific, Personal Genome Diagnostics, Inc., Qiagen N.V., etc.
Key questions answered in the study: