A new report by Reports and Data predicts that the size of the global Liquid Biopsy Market will reach USD 122.76 billion by 2032. The report reveals that the market size was USD 29.88 billion in 2022 and is projected to experience a revenue CAGR of 17% during the forecast period. Cancer is the second leading cause of death worldwide, responsible for 9.6 million deaths in 2018, according to the World Health Organization (WHO). Liquid biopsy, a less invasive and more efficient method of detecting and monitoring cancer, involves searching for cancer biomarkers in bodily fluids like blood or urine. The Liquid Biopsy Market is experiencing growth due to the demand for personalized treatment and targeted therapy. By identifying the type and stage of cancer through biopsy samples, the most appropriate treatment can be selected for patients, resulting in better patient outcomes.
The market for cancer biopsies is experiencing revenue growth, which is being driven by the introduction of non-invasive biopsy techniques, such as liquid biopsy, due to improvements in diagnostic and imaging technology. Cancer is the second leading cause of death worldwide, responsible for 9.6 million deaths in 2018, according to the World Health Organization (WHO). Liquid biopsy, which involves the examination of cancer biomarkers in bodily fluids like blood or urine, has the potential to offer a less invasive and more effective way to detect and monitor cancer.
The demand for personalized medicine and targeted therapy is another factor contributing to the revenue growth of the Liquid Biopsy Market. By accurately identifying the type and stage of cancer through biopsy samples, it becomes possible to select the most suitable treatment for patients, leading to better patient outcomes.However, the high cost of cancer biopsy procedures is a major factor that could restrain revenue growth of the market. Additionally, the lack of trained healthcare workers and a lack of awareness regarding cancer screening and diagnosis in underdeveloped nations may also hinder the growth of the market.
Key Highlights :
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Some major companies operating in the global Liquid Biopsy Market are:
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There have been several notable innovations in the Liquid Biopsy Market in recent years. Here are a few examples:
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