The Global Liquid Biopsy Market is projected to grow at a CAGR of 26% in the forecast period of 2022-27, cites MarkNtel Advisors in their recent research report. The market is driven by the improper lifestyle of the people, demonstrating high vulnerabilities to disease & illness, augmenting the demand for liquid biopsy to detect health conditions.
Besides, increasing healthcare expenditure, particularly across countries like India & China entwined with the high prevalence of concerns are the other aspects stimulating the use of liquid biopsy tests to treat rare cancers, driving the overall market growth. Moreover, since these biopsy methods are non-invasive method to identify tumor markers, it costs less than tumor tissue biopsy while providing an accurate genomic landscape of a tumor.
Hence, backed by such capabilities, the demand for Liquid biopsy is witnessing increased an upward trajectory and boosting the market growth. The same aspect is also generating growth opportunities for the leading players to increase their service offerings and cater to the burgeoning demands globally, further states the research report, “Global Liquid Biopsy Market Analysis, 2022.”
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Convenience & Quicker Results in Blood Samples to Stimulate in the Liquid Biopsy Market
Based on Sample Type, the Blood sample is expected to acquire a considerable share of the Global Liquid Biopsy Market during the forecast period. This growth attributes to the sample collection being painless, and non-invasive, with no risks to the patient. Besides, these samples also cut down costs & time for diagnoses, offering quicker results.
Moreover, elements like CTCs, cDNAs, exosomes, & microvesicles, among others can be detected in a blood sample, making this sample most preferred for liquid biopsy. Furthermore, as healthcare professionals & researchers are indulged substantially in studying blood-based cancer testing, the blood sample is set to witness the highest popularity for liquid biopsy and cater to the overall market growth in the coming years.
Expanding Health Expenditure in Asia-Pacific to Cater the Market Growth
On the geographical front, Asia-Pacific is anticipated to dominate the Global Liquid Biopsy Market with the largest share during the forecast period. This growth attributes to the improving economic conditions of the people and their inclination toward getting health checkups & treatments, entwined with the advent of various government initiatives to update healthcare infrastructure & maximize the expenditure in the industry.
This aspect is demonstrating the greater use of liquid biopsy and generates lucrative growth opportunities for the leading players to increase their service offering capacities & cater to the demands throughout the region. Besides, the presence of strategic approvals & agreements between major companies to promote liquid biopsy throughout Asia-Pacific is also making a substantial contribution to the overall market expansion.
Furthermore, growing awareness among people about the availability of liquid biopsy techniques alongside the increased adoption of advanced diagnostic solutions across healthcare facilities like clinics, hospitals, & diagnostic laboratories in this region is also triggering the swift expansion of the market in the region.
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The leading players 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., and Qiagen NV, among others.
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