Covid-19 Impact on Liquid Biopsy Market is Expected to Grow at an Impressive CAGR by 2028

The market research report on the Liquid Biopsy Market aims to help users discover detailed information regarding trends in the market. The report also throws light on the overview of the thorough analysis of the correlated key players active in the market, covering their competitive landscape, supply chain analysis, and latest developments like investments, expansion, technological growth, etc.

Market Forecast:

The liquid biopsy market was estimated at USD 2.4 billion in 2021 and is expected to grow at a CAGR of 18% during 2022–2028 to reach USD 7.64 billion in 2028.

What is a liquid biopsy?

Liquid biopsy, also known as fluid biopsy or fluid phase biopsy, is the sampling and analysis of non-solid biological tissue, mainly blood. This technique is mainly used as a diagnostic and monitoring tool for diseases such as cancer, with the added benefit of being largely non-invasive.

COVID-19 IMPACT

The impact of the global pandemic Covid-19 was felt across all industries in every field. However, the liquid biopsy market managed to escape the pandemic with minimum damage. The liquid biopsy market witnessed a slight decline in the year 2020 during the pandemic and is likely to rebound at a healthy rate in the forecast period.

Market Drivers

The growth of the liquid biopsy market is primarily driven by-

• Increase in the number of cancer patients,
• Increasing demand for non-invasive treatment procedures,
• Growing awareness about the benefits of liquid biopsy,
• Advantages such as low cost, rapid and accurate results, and early detection of diseases.

Here are the key players mentioned in the report –

• Biocept Inc.
• Bio-Rad Laboratories
• F. Hoffmann-La Roche Ltd.
• Guardant Health Inc.
• Illumina, Inc.
• Johnson & Johnson
• Laboratory Corporation of America Holdings
• MDxHealth SA
• QIAGEN N.V.
• Thermo Fisher Scientific Inc.

Segment Analysis:

Market segmentation included in this report divides the Liquid Biopsy Market into subgroups based on demographics, needs, priorities, shared interests, and other behavioral characteristics that help to better understand the target audience. The user can be from benefitted by using this targeting in product, sales, and marketing strategies.

As per the report, the market is segmented by:

The liquid biopsy market is segmented into cancer and non-cancer applications. Cancer application is further sub-segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, melanoma, and others. The cancer segment is likely to grow significantly at an exponential CAGR, during the forecast period, largely due to the increasing number of cancer cases and increasing demand for liquid biopsy for diagnosis. In addition, the increasing number of research studies on liquid biopsy for cancer applications is further expected to drive the growth of the market during the forecast period.

The market is segmented as multi-gene parallel analysis using NGS and single-gene analysis using PCR microarrays. Between these two technology types, the single-gene analysis using the PCR microarrays segment is expected to be dominant in the market over the forecast period. The segment’s growth can be attributed to the use of PCR, which is increasing due to its increasing use for various purposes, including detecting fungal infections, bacterial infections, gene mapping, and other genomic applications. PCR tests’ quick and real-time diagnostic results are accurate, and they can guide targeted therapies for cancer treatment. PCR is rapidly gaining popularity and is expected to grow at a rapid pace in the coming years.

Reference laboratories are expected to be the dominant segment of the market during the forecast period.

The market is segmented as reference laboratories, hospitals and physician laboratories, academic & research centers, and others. The outsourcing of liquid biopsy tests to reference laboratories is expected to drive market growth over the forecast period.

Among these regions, Asia-Pacific is expected to be the fastest-growing region in the market during the forecast period.

In 2021, North America had the highest revenue share of over 50%. Due to higher investments and the existence of numerous biotechnology businesses developing tests in the U.S., this region dominates the most.

The market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. The region is distinguished by rising disposable income, increasing healthcare expenditure, growing awareness of liquid biopsy techniques, and rising adoption of advanced diagnostic techniques in hospitals, clinics, and diagnostic laboratories. The growing penetration of hospitals and diagnostic centers in the region is likely to bolster the growth of the market over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

COVID-19 IMPACT

The coronavirus pandemic affected almost all the sectors of the economy in 2020. Many businesses across the globe saw their supply chains interrupted, demand for their products and services decline, scarcities in supplies and inputs, etc.

While the majority of organisations had to face losses due to the pandemic, there are a few that have remained stable during this period and are projected to expand gradually in the future. The study on the Liquid Biopsy Market by Stratview Research provides a sneak peek into its business success in 2020 to upcoming 5 years.

Sneak peek into the Report:

This report focuses on the various types, segments, and growth in the Liquid Biopsy Market. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions.

The report also benchmarks the major parameters like -

• Industry Outlook
  • Market Segmentation & Value Chain Analysis
  • Industry Dynamics
  • Drivers
  • Restraints
  • Growth Opportunities
  • Regional Outlook
  • Country-level Analysis
  • Competitive Landscape
  • Company Market Share Analysis
  • Key Company Profiles/ Market Players

Need a detailed report? Get in touch with us:

Stratview Research

E-mail: sales@stratviewresearch.com

Direct: +1–313–307–4176

Know more about Stratview Research:

Stratview Research is a global market research company and is known to provide custom research reports in varied fields such as aerospace & Defense, Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas, etc. The veteran market experts and research team makes sure to have deep research about the topics so that the most useful insights can be delivered to the professionals.