DUBLIN–(BUSINESS WIRE)–The “Global Non-Invasive Liquid Biopsy Market: Focus on Offering, Sample, Application, Technology, End Users, Country Data (16 Countries), and Competitive Landscape – Analysis and Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
Global Non-Invasive Liquid Biopsy Market to Reach $9.47 Billion by 2031
Non-invasive liquid biopsy industry to be one of the most rapidly evolving and dynamic markets, and the global market for non-invasive liquid biopsy is predicted to grow at a CAGR of 20.38% over the forecast period 2021-2031.
The market is driven by certain factors, which include a global increase in cancer prevalence, increasing government funding for healthcare, rise in patient preference for non-invasive cancer diagnosis, and growing prominence of precision medicine in the oncology ecosystem.
The market is favored by the developments in the field of cancer molecular diagnostic testing and its attributes such as non-invasive liquid biopsy. Currently, the non-invasive liquid biopsy industry is witnessing an upsurge due to the global increase in cancer prevalence, increasing government funding for healthcare, rise in patient preference for non-invasive cancer diagnosis, and growing prominence of precision medicine in the oncology ecosystem.
Furthermore, biotechnology companies are focusing on the development of robust non-invasive liquid biopsy solutions for a wide range of applications, including oncology, reproductive health, metabolic disorders, to support clinicians to unravel insights pertaining to the analysis of genetic alterations present in the circulating biomarkers in samples such as stool, urine, and saliva. The development of non-invasive liquid biopsy products and services enabled clinicians to offer early cancer screening and diagnosis to patients, further improving survival rates.
Within the research report, the market is segmented on the basis of offering, sample, application, technology, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
Competitive Landscape
The exponential rise in the number of cases associated with cancer has created a buzz among the biotechnology companies to further invest in the development of innovative cancer diagnostics, including non-invasive liquid biopsy, further aiding physicians to offer value-based clinical outcomes to patients. Due to the established presence of Exact Sciences Corporation in the U.S. market, offering its proprietary Cologuard test, the company has been the leading player in the non-invasive liquid biopsy ecosystem.
On the basis of region, North America holds the largest share of the non-invasive liquid biopsy market due to high infusion of funding from the government organizations for conducting cancer research, increasing prevalence of cancer, presence of market juggernauts in the region, growing awareness about non-invasive liquid biopsy products, and increasing awareness about early cancer screening. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period 2021-2031.
Key Questions Answered in the Report
- How is non-invasive liquid biopsy revolutionizing the field of oncology, reproductive health, and metabolic disorders?
- What are the major market drivers, challenges, and opportunities in the global non-invasive liquid biopsy market?
- What are the underlying structures resulting in the emerging trends within the global non-invasive liquid biopsy market?
- How did the COVID-19 pandemic impact the global non-invasive liquid biopsy ecosystem?
- What are the key development strategies that are being implemented by the major players in order to sustain themselves in the competitive market?
- What are the key regulatory implications in developed and developing regions pertaining to the use of non-invasive liquid biopsy?
- What are the potential entry barriers, which are expected to be faced by the companies willing to enter a particular region?
- How is each segment of the market expected to grow during the forecast period 2021-2031, and what is the anticipated revenue to be generated by each of the segments?
- What are the growth opportunities for the non-invasive liquid biopsy companies in the region of their operation?
- Who are the leading players with significant offerings in the global non-invasive liquid biopsy market?
- Which companies are anticipated to be highly disruptive in the future, and why?
Market Report Coverage – Non-Invasive Liquid Biopsy Market Segmentation
- Offering- Products (Kits and Assays) and Services
- Sample – Stool, Urine, Saliva, and Other Samples
- Application – Oncology, Reproductive Health, Metabolic Disorders, and Other Applications
- Technology – Polymerase Chain Reaction (RT-PCR and dPCR), Sequencing (NGS and Sanger Sequencing), Microarray, and Other Technologies
- End User – Hospitals and Diagnostic Laboratories, Academic and Research Institutions, and Other End Users
Market Dynamics
Market Growth Drivers
- Global Increase in Cancer Prevalence
- Increasing Government Funding for Healthcare
- Rise in Patient Preference for Non-Invasive Cancer Diagnosis
- Growing Prominence of Precision Medicine in the Oncology Ecosystem
Market Challenges
- False Negatives and Positives
- Lack of Favorable Reimbursement Policies
- Existing Diagnostic Confidence on Conventional Tissue-Based Biopsies
Market Opportunities
- Amalgamation of Artificial Intelligence (AI) with Non-Invasive Liquid Biopsy
- Massive Scope for the Adoption of Non-Invasive Liquid Biopsy Tests in the Emerging Markets
Key Companies Profiled
- Bio-Techne Corporation
- Endress + Hauser Group
- Exact Sciences Corporation
- Lonza Group AG
- MDxHealth
- Merck KGaA
- MutantDx
- Norgen Biotek Corp
- Nucleix Ltd.
- Oasis Diagnostics Corporation
- OraSure Technologies, Inc.
- PerkinElmer Inc.
- Predicine, Inc.
- QIAGEN N.V.
- Thermo Fisher Scientific Inc.
- Zymo Research Corporation
For more information about this report visit https://www.researchandmarkets.com/r/9y5g0y
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