The global liquid biopsy market is projected to reach USD 10.0 billion by 2027 from USD 4.3 billion in 2022, at a CAGR of 18.3% during the forecast period. Growth in the liquid biopsy market is mainly driven by factors such as the rising incidence and prevalence of cancer, awareness initiatives undertaken by global health organizations, and the increasing preference for noninvasive treatment procedures. However, the lower sensitivity of certain liquid biopsies might act as a restraining factor to the growth of this market.
The key players in the liquid biopsy market are F. Hoffmann-La Roche Ltd. (Switzerland), Myriad Genetics, Inc. (US), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific, Inc. (US), Guardant Health, Inc. (US), MDxHealth SA (Belgium), Exact Sciences Corporation (US), Illumina Inc. (US), Sysmex Inostics (US), Bio-Rad Laboratories, Inc. (US), Biocept, Inc. (US), NeoGenomics, Inc. (US), ANGLE plc (UK), Menarini-Silicon Biosystems (Italy), Vortex Biosciences, Inc. (US), Exosome Diagnostics, Inc. (US), Agena Bioscience, Inc. (US), MedGenome Inc. (US), Epigenomics AG (Germany), and Personal Genome Diagnostics, Inc. (US).
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In 2021, QIAGEN N.V. (Netherlands) held the leading position in the liquid biopsy market. QIAGEN has 35 subsidiaries in over 25 countries and has a global distribution partner network in more than 60 countries and provides expertise and service to customers in nearly every corner of the globe. The company adopted inorganic growth strategies to increase its market share. For instance, it collaborated with Novartis AG (Switzerland) to develop a companion diagnostic to guide the treatment of patients with PIK3CA-mutated advanced breast cancer. The company intends to partner with new businesses to complement its existing business segments. Such developments enable the company to add innovative technologies and products to its portfolio, which, in turn, will strengthen its presence in the market.
In 2021, F. Hoffmann-La Roche Ltd. (Switzerland) accounted for the second-largest share of the liquid biopsy market. Roche is a major player owing to its vast product portfolio. The company focuses on innovation for maintaining its market share and significantly invests in R&D activities for this purpose. This investment is used for developing new and innovative products. The company’s position in this market can also be attributed to its strong sales and distribution network across the globe, enabling it to market its products in various countries effectively. The company works in partnerships with third parties to offer integrated solutions. It has a wide geographic presence across 180 countries throughout the Americas, Europe, Asia, and the Middle East & Africa.
In 2021, Myriad’s leading position in this market can be attributed to its strong sales and distribution network across the globe. The company significantly invests in R&D activities. This investment is used
Liquid Biopsy Market by Product (Assay Kits, Instruments), Circulating Biomarkers (CTC, ctDNA), Technology (NGS, PCR), Application (Cancer (Lung, Breast), Non-Cancer), Sample Type (Blood), End User (Reference Lab, Hospitals) - Global Forecast to 2027
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