Global Liquid Biopsy Market Analysis and Industry Outlook
The global liquid biopsy market accounted for $ 1,574 million in 2017 and is projected to reach $ 11,524 million by 2025. North America was the highest contributor to the liquid biopsy market due to the presence of leading bio-tech companies and highly equipped research facilities. Asia-Pacific is anticipated to witness highest growth rate in the analysis period owing to rapid adoption and growth in awareness regarding non-invasive liquid biopsy test.
Liquid biopsies provide valuable insight regarding the presence of tumor DNA and fragments in the patient by testing patients’ blood sample. These tests can provide efficient disease monitoring as well as early detection of various types of cancer which can allow health-care providers to eradicate or neutralize the disease before it can become life-threatening
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Prevalence of cancer and surge in the incidence of various types of cancer are expected to drive the liquid biopsy market. In addition, advantages of liquid biopsy over solid tissue biopsy techniques are one of the major drivers of this market. However, unfavorable reimbursement scenario in many countries and alternatives to liquid biopsy can impede market growth.
By-product and services, the assay segment is expected to lead the liquid biopsy market due to growth in liquid biopsy test in many developed regions. Lung cancer is likely to dominate the cancer type segment owing to the global prevalence of lung cancer.
In 2017, North America dominated the liquid biopsy market due to the presence of modern health-care infrastructure and well equipped research facilities in the countries such as U.S. and Canada. However, Asia-Pacific is likely to have the highest growth rate in the market owing to huge patient population pool and rapid adoption of modern health-care techniques.
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Global Liquid Biopsy Market Key Findings
Hospital & laboratory accounted for the highest revenue in the analysis period. In Asia-Pacific region, China is projected to grow at the highest CAGR. The instruments segment is expected to grow at the highest rate in the product and services segment. Government & academic research center segment is expected to develop at the highest rate during the study period.
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