The increasing preference for noninvasive treatment procedures, the rising incidence and prevalence of cancer, and awareness initiatives undertaken by global health organizations are the major factors driving the liquid biopsy market growth.
According to research report the global liquid biopsy market size is projected to reach $5.8 billion by 2026 from $2.5 billion in 2021, at a CAGR of 18.1% during the forecast period.
In 2020, the cancer application segment accounted for the largest share of the liquid biopsy market. Based on application, the liquid biopsy market is segmented into cancer and non-cancer applications. The large share of this segment can be mainly attributed to factors such as the increasing prevalence of cancer and the growing number of research studies on liquid biopsy for cancer applications.
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In 2020, the assay kits segment accounted for the largest share of the liquid biopsy market. Based on product service, the liquid biopsy market is segmented into assay kits, instruments, and services. The standard purchase requirement of assay kits makes them a recurrent cost which is a key factor attributing to the growth of this segment.
North America accounted for the largest share of the liquid biopsy market. The global liquid biopsy market has been segmented into four major regions—North America, Europe, the Asia Pacific, and the Rest of the World. The large share of this regional segment can be attributed to highly developed healthcare systems in the US and Canada, many leading national clinical laboratories, and the easy accessibility to technologically advanced instruments.
Report Highlights
- More Refined Presentation of the Market Dynamics: The current edition of the report consists of the impact of COVID-19 on the liquid biopsy market. Additional points in the market overview section have been added, keeping in mind the impact of COVID-19 on the market.
- More Refined Presentation of the Competitive Landscape and Recent Market Developments: We have added market shares for top players. Recent developments are helpful to know the market trends and growth strategies adopted by players in the market. The report provides updated developments in product launches, collaboration, acquisitions, and partnerships.
- Additional Information: The current edition of the report covers pricing analysis, value chain analysis, supply chain analysis, ecosystem analysis, patent analysis, trade analysis, regulatory landscape, technology analysis, ranges/scenarios, trends/disruptions impacting the business of customers, and Porter’s five forces analysis in the market overview chapter. This edition also covers the product and geographical footprint of the key players in the competitive landscape chapter.
- Recent Market Developments: Recent developments are important to understand the market trends and growth strategies adopted by players operating in the global liquid biopsy market. The current edition of this report provides updated developments of profiled players from January 2018 to November 2021, indicating a continuation of the previous version. Product launches, collaborations, partnerships and acquisitions are the principal growth strategies adopted by market players in this period.
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This study involved four major activities in estimating the current size of the liquid biopsy market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate segments and subsegments’ market size.
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