By GlobeNewswire – Press Releases
Westford, USA, July 05, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the liquid biopsy market will attain a value of USD 24.14 billion by 2031, with a CAGR of 11.21% during the forecast period (2024-2031). This market has received great momentum due to increased incidence of cancer on a global scale, alongside the greater need for fast and minimally invasive modalities of diagnosis. Due to increasing focus on early diagnosis and personalized modes of treatment in the modern concept of health care, the liquid biopsy market is expected to show continuous growth, fueled by innovative technological developments, wider research activities, and rising awareness levels in health care professionals as well as patients.
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Browse in-depth TOC on “Liquid Biopsy Market”
- Pages – 219
- Tables – 61
- Figures – 75
Liquid Biopsy Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 10.32 Billion |
| Estimated Value by 2031 | $ 24.14 Billion |
| Growth Rate | Poised to grow at a CAGR of 11.21% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product & Services, Circulating Biomarkers, Clinical Application, Application, Technology, Sample Type, End User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Increasing Adoption of Next-Generation sequencing (NGS) Technology |
| Key Market Drivers | Increasing Prevalence of Cancer |
Reagents and Kits Segment Leads the Market through Early Detection and Personalized Treatment
The reagents and assay kits segment is expected to hold the largest share of the overall market. This is attributed to the rising trends in demand for liquid biopsy tests, especially in applications for the diagnosis of cancer. Convenience, versatility, cost-effectiveness, and continuous technology updates result in the largest market share of the assay kits. The factors driving demand for liquid biopsy reagents and kits include the rising incidence of cancer across the globe, and the need for early diagnosis and efficient treatment modalities at an individual level.
Need for Efficient Liquid Autopsy Instruments makes the Instruments the Fastest Growing Segment
The instruments segment is the fastest-growing segment in the liquid biopsy market. It is chiefly attributed to the rising awareness and demand for automated, high-throughput liquid biopsy systems. The latter permits processing many samples in a shorter amount of time. Besides, advancement in technology has resulted in the development of NGS and dPCR among other methods. These advances have made it possible to develop efficient and accurate liquid biopsy instruments.
Presence of Several Data–Intensive Industries Makes North America a Leading Consumer
The dominance of this region globally is majorly attributed to the high prevalence of cancer in North American region along with increasing adoption of advanced diagnostic technologies. The US is the major contributor to the North American market. Lung cancer is the biggest cause of deaths due to cancer, especially in the US, hence, the use of liquid biopsy tests is gaining traction for early detection of cancer, proving beneficial in the region.
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Liquid Biopsy Market Insights:
Drivers
- Increasing Prevalence of Cancer
- Advantages Over Traditional Biopsy Methods
- Growing Trend of Personalized Medicinal Treatment
Restraints
- High Cost on Liquid Biopsy Testing
- Lack of Standardization and Regulatory Guidelines
- Limitations in Sensitivity and Specificity in Current Biopsy Technologies
Prominent Players in Liquid Biopsy Market
The following are the Top Liquid Biopsy Companies
- F. Hoffmann-La Roche Ltd
- Thermo Fisher Scientific Inc.
- QIAGEN N.V.
- Illumina, Inc.
- Guardant Health, Inc.
- Biocept, Inc.
- Sysmex Corporation
- Menarini Silicon Biosystems
- Natera, Inc.
- GRAIL, Inc.
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Key Questions Answered in Liquid Biopsy Market Report
- Which segment leads the Liquid Biopsy Market?
- What are the key drivers of the Liquid Biopsy Market?
- What are the key market trends in the Liquid Biopsy Market?
This report provides the following insights:
- Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of gas cleaning technologies systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of liquid biopsy market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the liquid biopsy market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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Source: GlobeNewswire – Press Releases