Global Liquid Biopsy Market Size, Share, Forecast Report

The Liquid Biopsy Global Market Report 2023 by The Business Research Company, provides liquid biopsy market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Liquid Biopsy Global Market Report 2023, the market size will grow from $5.17 billion in 2022 to $6.68 billion in 2023 at a compound annual growth rate (CAGR) of 29.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global liquid biopsy is expected to grow to $20.39 billion in 2027 at a CAGR of 32.2%.

Government funds for refining cancer detection drive the growth of the liquid biopsy market. Government funds help researchers in drug discovery, diagnosis, and treatment of diseases such as Cancer.

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The liquid biopsy market is segmented:

1) By Product: Assays Kits, Instruments, Services

2) By End User: Reference Laboratories, Hospitals and Physician Laboratories, Academic and Research Centers

3) By Clinical Application: Early Cancer Screening, Therapy Selection, Treatment Monitoring, Recurrence Monitoring Orthopedics

Companies are rapidly adopting new market dynamics and focusing primarily on new product launches, to meet the ever-increasing need for liquid biopsy products and services, to increase their revenue, and also for gaining a competitive edge over their rivals. For instance, In August 2020, Personalis, Inc., a USA-based advanced cancer genomics company, revealed the introduction of NeXT Liquid Biopsy, a high-performance, exome-scale, tumor-profiling device that uses blood samples from innovative solid tumor cancer patients. NeXT Liquid Biopsy, combined with Personalis’ leading immunoid NeXT tissue profiling tool, allows a more detailed immuno-genomics image of the tumor which can now be tracked over time from blood samples. These abilities can enable biopharmaceutical businesses to improve their knowledge of tumor biology, specifically resistance mechanisms, to help create next-generation cancer therapies. Thus, companies are investing in the development of new products in the liquid biopsy market.

The liquid biopsy market report table of contents includes: