Report : Liquid Biopsy Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Product and 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 Geography
The Reagents & Kits Segment by Product & Services is Expected to Dominate the Market Over the Forecast Period
According to the latest study on ‘Liquid Biopsy Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Product & Services, Sample, Circulating Biomarker, Application, and End User.’ The global liquid biopsy market was valued at US$ 3,861.49 million in 2019 and is projected to reach US$ 8,123.85 million by 2027; it is expected to grow with a CAGR of 9.9% during 2020–2027.The report provides trends prevailing in the global liquid biopsy market and the factors driving market along with those that act as hindrances.
Based on product & services, the liquid biopsy market is segmented into equipment, reagents & kits and services. The reagents & kits segment held the largest share of the market in 2019 and the same segment is anticipated to register the highest CAGR of 10.3% in the market during the forecast period. The growth of reagents & kit segment is attributed to the enhancement of solution to improve staining results and unique antibodies with fluorescent staining markers. There are various reagent & kits available in market for the detection of cancerous cell. For instance, MagMAX cell-free total nucleic acid isolation kit used to isolate and purify cfRNA and cfDNA from serum, plasma, or urine samples with the help of magnetic bead-based technology.
The increasing prevalence of cancer is the major factor driving the growth of the market. However, low sensitivity of liquid biopsy is likely to restrain the growth of the market during the forecast years.
Biocept, inc., Bio-Rad Laboratories, Inc., Lunglifeai, inc, Exosome Diagnostics, F. Hoffmann-la Roche ltd, Inivata ltd,Exact sciences corporation, Mdxhealth, Qiagen, and Thermo fisher scientific inc. are among the key players present in the liquid biopsy market. The companies are focused on following organic strategies such as product launches and business expansions to sustain their position in the dynamic market. For instance, in November 2019, Thermo Fisher Scientific launched a product namely Oncomine Precision Assay, which is innovative pan-cancer panel for the Genexus platform. It is likely to perform, genomic profiling from formalin-fixed, paraffin-embedded (FFPE) tissue and liquid biopsy samples with a single assay.
The report segments global liquid biopsy market as follows:
Liquid Biopsy Market - By Geography