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Liquid Biopsy Market Analysis
- Report ID: GMI3775
- Published Date: Nov 2021
- Report Format: PDF
Liquid Biopsy Market Analysis
Circulating tumor DNA segment in the liquid biopsy market valued at USD 550 million in 2020. Well-developed technology providing accuracy in tumor detection has significantly contributed to the industry revenue. High sensitivity in detection of early stage and advanced cancer, specifically breast cancer, will offer growth opportunities to the segment. In addition, the ctDNA biomarkers are used to study tumor progression among patients during clinical studies. Further, ctDNA provides an alternative pathway for the molecular profiling of tumor DNA in biopsy procedures.
Kits & reagents segment dominated more than 50% of the market share in 2020 led by the increasing acceptance of liquid biopsy in reference laboratories and research institutes. Several companies are involved in the development of innovative products to enhance the precision in liquid biopsy testing during diagnosis. Further, the integration and practice of liquid biopsy in clinical facilities will boost the product demand in the coming years.
Lung cancer segment is predicted to showcased 29.7% growth rate through 2027 impelled by the high incidence rate owing to the adoption of unhealthy lifestyle including smoking and tobacco consumption. In addition, the high risk of metastatic conditions among patients with lung cancer will support the acceptance of advanced biomarkers testing. The development of innovative tests specific to targets will further strengthen the segment expansion.
North America liquid biopsy market captured 31% of revenue share in 2020 on account of the availability of advanced products along with the presence of leading industry players. Further, rising incidence of cancer, faster adoption of advanced methods and highly advanced infrastructure will augment the regional growth. Accelerating demand for non-invasive disease diagnosis and continuous product launches with high focus on R&D by the market players will offer unprecedented growth opportunities to the industry.
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Liquid Biopsy Market Scope
