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2024-2033 Liquid Biopsy For Cancer Diagnostics Market: What Growth Rate is Predicted?

The market size for liquid biopsy in cancer diagnostics has experienced swift growth in the past years. Its value is projected to climb from $7.82 billion in 2023 to $9.17 billion in 2024, representing a compound annual growth rate (CAGR) of 17.3%. Factors contributing to this significant growth during the past period include progressive advancements in genomic research, heightened public awareness of the benefits of liquid biopsy, a growing occurrence of cancer, a surge in demand for non-invasive cancer testing solutions, and an expansion of precision medicine initiatives.

Expectations suggest a swift expansion in the liquid biopsy for cancer diagnostics market over the upcoming years. The market is projected to rise to $16.42 billion by 2028, with a compound annual growth rate (CAGR) of 15.7%. The anticipated growth during this forecast period is credited to factors such as the incorporation of liquid biopsy into standard cancer diagnostics, the use of liquid biopsies for early cancer detection, advancements in cancer screening procedures, a heightened focus on individualized medicine in oncology, and the increase in funds designated for liquid biopsy research. Notable trends for the same forecast period include the emergence of multi-omics liquid biopsy techniques, the integration of artificial intelligence into liquid biopsy assessments, the enlargement of liquid biopsy applications beyond the scope of oncology, the invention of blood-specific biomarkers for cancer, and the tailoring of liquid biopsy tests for distinct cancer types.

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What Aspects Are Driving the Expansion of the liquid biopsy for cancer diagnostics Market?

The increasing prevalence of cancer is projected to boost the expansion of the liquid biopsy for cancer diagnostics market in the future. Cancer represents a broad spectrum of diseases that can arise in almost any organ or tissue in the body when rogue cells grow uncontrollably, exceed their normal boundaries, and either metastasize to other organs or invade adjacent body structures. The onset of cancer amplifies the requirement for diagnostic procedures like early cancer or tumor recurrence detection, patient risk assessment, and therapy monitoring. These enable liquid biopsy to provide a comprehensive view of the disease as tumor cells or their products are shed from all metastatic or primary tumor locations, offering in-depth and real-time data on tumor cell development, therapeutic targets, and therapy resistance mechanisms. For example, as per the American Cancer Society, 1.8 million new cancer cases were reported in 2020. In addition, data published by the National Cancer Institute in September 2020, a U.S. government agency affiliated with the National Institutes of Health, revealed that 1,806,590 new cancer cases were reported, pointing out that 43% of all cancer diagnosed in men in the U.S. in 2020, increased from 1,752,735 in 2019. Consequently, the escalating prevalence of cancer is triggering the expansion of the liquid biopsy for cancer diagnostics market.

What Are the Significant Segments of the Liquid Biopsy For Cancer Diagnostics Market?

1) By Type: Product, Services

2) By Sample: Blood, Urine, Saliva

3) By Cancer: Lung Cancer, Breast Cancer, Colon Cancer, Other Cancers

4) By End-User: Hospitals, Diagnostic Centers, Other End-Users

What Trends Are Influencing the Evolution of the Liquid Biopsy For Cancer Diagnostics Market?

The trend of product innovations is rising in prominence in the liquid biopsy for cancer diagnostics market, as major companies focus on developing pioneering products to consolidate their market positions. One example of this is BostonGene, an American biomedical software company that introduced new liquid biopsy solutions in June 2023 for the identification of clinically significant gene alterations. The augmentation of their test portfolio will expedite the development of novel assays, analytical instruments, and pipelines. These will enable the delivery of precision medicine to patients by integrating diverse AI-driven molecular and immunological profiling techniques for tumor, microenvironment, and host immunity analysis. Not only does this aid in immunotherapy treatment but it also provides information about a patient’s immune-related diseases, as well as tracks disease progression and treatment response.

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Which Geographic Areas Are Influencing the Growth of the Liquid Biopsy For Cancer Diagnostics Market?

North America was the largest region in the liquid biopsy for cancer diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the liquid biopsy for cancer diagnostics market report during the forecast period. The regions covered in the liquid biopsy for cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Liquid Biopsy For Cancer Diagnostics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the liquid biopsy for cancer diagnostics market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Liquid Biopsy For Cancer Diagnostics Market Include

1. Liquid Biopsy For Cancer Diagnostics Market Executive Summary

2. Liquid Biopsy For Cancer Diagnostics Market Segments

3. Liquid Biopsy For Cancer Diagnostics Market Size And Template Market Growth Rate

4. Key Liquid Biopsy For Cancer Diagnostics Market Trends

5. Major Liquid Biopsy For Cancer Diagnostics Market Drivers

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25. Key Mergers And Acquisitions In The Liquid Biopsy For Cancer Diagnostics Market

26. Top Liquid Biopsy For Cancer Diagnostics Companies

27. Liquid Biopsy For Cancer Diagnostics Market Opportunities And Strategies

28. Liquid Biopsy For Cancer Diagnostics Market, Conclusions And Recommendations

29. Appendix

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