Liquid Biopsy Market Size Worth USD 13.81 Billion by 2030 at 20.20% CAGR – Report by Market Research Future (MRFR)
New York, USA, March 09, 2023 (GLOBE NEWSWIRE) — Liquid Biopsy Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Liquid Biopsy Market Information by Biomarker Types, Application, Sample and Region – Forecast till 2030“, the market size was valued at USD 3.17 billion in 2021 and is projected to grow from USD 3.81 Billion in 2022 to USD 13.81 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 20.20% during the forecast period (2022 – 2030).
Market Dynamics
Surging demand for advanced diagnosing equipment coupled with the rising number of research laboratories in the developing economies are the key market drivers enhancing the market growth. The federal government’s increased support will likely accelerate market expansion. Public and private actors, particularly in developing nations, will drive the growth and expansion of the healthcare sector, opening up attractive market expansion potential. Additionally, the market will benefit from the high return on investment that research efforts are guaranteed to produce. The introduction of technologically advanced products in hospitals, increased investment in the development of cutting-edge medical products and devices and rising demand for minimally invasive surgery have all contributed to a positive increase in the liquid biopsy market CAGR globally in recent years. This is especially true of government initiatives to raise awareness, particularly in developing economies.
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Liquid Biopsy Market Segmentation
Circulating tumor cells, circulating tumor DNA, extracellular vesicles, and other biomarkers are included in the market of liquid biopsy segmentation based on biomarker categories. The liquid biopsy market revenue was dominated in 2021 by the circulating tumor DNA segment. Recent advancements in ctDNA-based liquid biopsy analysis have opened up new possibilities for cancer molecular diagnosis and surveillance. It can accurately predict tumor development, the prognosis, and help with targeted therapy. The fastest-growing category is other biomarkers, nevertheless, as a result of the increasing use of exosomes as liquid biopsies in oncology clinical diagnosis together with the launch of new products.
The market data for liquid biopsies has been segmented into therapeutic applications for cancer, reproductive health, and other diseases. During the projection period, 2022–2030, the fastest-growing category is anticipated to be the cancer therapeutic segment, which dominated the market in 2021.
The liquid biopsy market has been divided into blood sample, urine sample, and other segments based on sample. In 2021, the blood sample sector had the biggest market share. However, since liquid biopsy tests employ a single urine sample to diagnose a variety of cancers, urine samples are the category with the quickest growth.
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Liquid Biopsy MarketRegional Analysis
Due to the growing number of research projects for the discovery and development of novel cancer biomarkers, as well as the existence of numerous pharmaceutical businesses, the European Union accounts for the second-largest market share for liquid biopsy. Additionally, the UK market of liquid biopsy had the quickest rate of growth in the European region, while the Germany market of liquid biopsy had the greatest market share.
From 2022 to 2030, the market of liquid biopsy in Asia-Pacific is anticipated to experience the fastest CAGR growth. This is brought on by increasing investments made by major companies in the development of innovative devices, the expansion of drug development processes, the strict regulatory environment facing the pharmaceutical industry, and an increase in research activities in this area. Additionally, the highest market share was maintained by the liquid biopsy market in China.
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