LONDON–(BUSINESS WIRE)–Technavio estimates the global liquid biopsy market is expected to grow by USD 4.02 billion, progressing at a CAGR of almost 38% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is driven by increasing funding for liquid biopsy. However, the limitations of liquid biopsy might challenge growth.
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Liquid Biopsy Market: Technology Landscape
Based on technology, the market saw maximum growth in the CTC and ctDNA segment in 2019. ctDNA test is the most preferred procedure due to its highly sensitive nature. Also, it allows timely and dynamic monitoring of tumor progression and can decrease the diagnosis bias from tumor heterogeneity. These factors are crucial in driving the growth of the segment. The market growth in the segment will be significant over the forecast period.
Liquid Biopsy Market: Geography Landscape
64% of the market’s growth originated from North America in 2019. Factors such as the increasing number of cancer cases, increasing adoption of technologically advanced biopsy tests, growing older population, high expenditure on the screening of various types of cancers, and the increasing number of biotechnology and pharmaceutical companies are fueling the growth of the liquid biopsy market in North America.
The US and Canada are the key markets for liquid biopsy in North America. Market growth in this region will be faster than the growth of the market in other regions.
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Major Three Liquid Biopsy Market Vendors:
ANGLE Plc
ANGLE Plc operates its business through the Unified segment. The company offers liquid biopsy systems for CTC capture, for both epithelial and mesenchymal phenotypes, alongside antibodies for the identification of full range of cancer cells, and bioview imaging solutions for detection and enumeration of the CTCs.
Biocept Inc.
Biocept Inc. operates its business through the Unified segment. The company offers Target Selector liquid biopsy. It is a patented platform that helps to characterize tumor cells and evaluate changes in protein expression. It enables both CTC and ctDNA analysis. The company also offers EmpowerTC. It offers cancer biomarker testing by using CTC and ctDNA.
Bio-Techne Corp.
Bio-Techne Corp. operates its business through segments such as Protein Sciences and Diagnostics and Genomics. ExoDx Prostate or EPI and ExoDx Lung are the key offerings of the company.
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Related Reports on Healthcare Include:
Global Prostate Biopsy Market – Global prostate biopsy market is segmented by product (prostate needle biopsy and prostate liquid biopsy), end-user (hospitals, ASCs, and diagnostic centers), and geography (North America, Europe, Asia, and ROW). Get a free sample report to know more
Global Breast Biopsy Devices Market – Global breast biopsy devices market is segmented by product (biopsy needles and systems, biopsy image-guided systems, and others), end-user (hospitals, ASCs, breast cancer specialty centers and clinics, and others), modality (stereotactic X-ray guided breast biopsy, ultrasound-guided breast biopsy, and MRI-guided breast biopsy), and geography (Asia, Europe, North America, and ROW). Get a free sample report to know more
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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