Report : Europe Liquid Biopsy Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product & Services (Equipment, Reagents & Kits and Services); Sample (Blood Based, Urine Based and Other samples); Circulating Biomarker (Circulating Tumor Cells (CTC), Exosomes and Free Nucleic Acid); Application (Noninvasive Prenatal Testing (NIPT), Oncology, Transplant Diagnostics and Other Applications); End User (Academic & Research Institutes, Hospitals, Reference Laboratories and Other End Users); and, Country
Reagents & Kits Segment to Grow at Faster Pace During Forecast Period
According to The Insight Partners market research study of “Europe Liquid Biopsy Market Forecast to 2027 - Covid-19 Impact and Regional Analysis by Product & Service, Sample, Circulating Biomarker, Application and End User,” the Europe liquid biopsy market is projected to reach US$ 3,531.44 million by 2027 from US$ 1,097.82 million in 2019. The market is estimated to grow at CAGR of 9.5% from 2020 to 2027. The report highlights trends prevailing in the Europe liquid biopsy market and the factors driving market along with those that act as hindrances.
The Europe liquid biopsy market, based on product & service, is further segmented into equipment, reagents & kits and services. The reagents & kits segment held a larger share of the market in 2019, and the similar segment is estimated to register a higher CAGR during the forecast period owing to the availability of complete set of kits for liquid biopsy is likely to drive the growth for liquid biopsy market during the forecast period.
The Europe liquid biopsy market is expected to grow owing to government and global health organizations initiatives in the region. However, low sensitivity of liquid biopsy is likely to restrain the growth of the market during the forecast period.
Moreover, the European Society for Medical Oncology (ESMO) is the leading professional organization for medical oncology, is continuing to help oncology professionals by helping them to deliver optimal care to their cancer patients in such situations. The impact of the COVID-19 pandemic on cancer patients is high in terms of anxiety, fear, and psychological distress. However, due to growing COVID-19, the supply of diagnostics kits and assays are delayed because of growing quarantine time and shutting down all business operations. Europe is facing the massive impact of an outbreak due to exponential growth of infections in the region. As per data published by public sources, till March 26, Europe had an estimated 250,000 number of infected patients in the region. The outbreak badly hits countries such as Italy, Spain, Germany, France, and the UK.
Leading companies operating in the liquid biopsy market are F. Hoffmann-la Roche ltd, Inivata Ltd, LungLife AI, Inc., Exosome Diagnostics, MDxHealth among others.
The report segments Europe Liquid Biopsy Market as follows:
By Product & Service
By Circulating Biomarker
By End User