The Global Liquid Biopsy Market is Expected to Grow at a CAGR of 22.97% Between 2018 and 2026
“According to a new market research report published by Inkwood Research, “the Global Liquid Biopsy is expected to grow at a CAGR of 22.97% between 2018 and 2026.”
“Browse 34 Market Data Tables and 66 Figures spread over 276 pages, along with an in-depth TOC of Global Liquid Biopsy Market Forecast 2018-2026.”
Liquid Biopsy, a non-invasive alternative to tissue biopsy and is also used as a diagnostic tool for diseases like cancer. A process that analyses biomarkers, liquid biopsy is rapidly gaining a strong foothold in the global market. The rising clinical data supporting liquid biopsy and the tissue-agnostic labelling strategy for cancer drugs are considered to be the two primary factors that propel the growth of liquid biopsy market. The rising initiatives by the governments all over the world, an increase in the number of cancer cases in older people, the growth of precision medicine, and rising number of diagnostic centres are considered to be the principal drivers of this market.
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Rising Consumer Demands Propel the Liquid Biopsy Market
The ever-changing consumer demands and technological developments have culminated in shifting the diagnostic tests from hospitals and facilities to patients’ homes. At the same time, the delivering of healthcare services at home takes place more in urban areas rather than in rural areas in many countries. In the case of the developing countries, where the rural population is high, the accessibility becomes low. This results in an increased number of cancer deaths in rural areas due to ignorance or delayed diagnosis. Improved diagnostic tools, better treatment monitoring, faster response time, increased availability of over-the-counter tests, access to cheaper biopsy solutions, huge research grants and project funding, will aid in establishing multiple diagnostic centres all over the world including rural areas, thereby helping the biopsy testing solution providers high market opportunities.
Hospitals Influence End-Users Segment in the Global Liquid Biopsy Market
Hospitals are the key end-users that influence the growth of the market. The multi-speciality hospitals, private and public hospitals comprise more than five hundred beds, which help in creating revenue since they can provide both inpatient and outpatient services. The bulk procurement of medical products, close engagement with suppliers, reimbursement authorities, government organizations, and advanced infrastructures aids in looking after the needs of the patients. Thus, all of these factors boost the sale of liquid biopsy products due to the rising number of cancer patients.
APAC is witnessing fast growth in the Liquid Biopsy Market
The fastest-growing liquid biopsy market is recorded in the Asia-Pacific (APAC). The easy availability of labour, access to large patient market, cheaper land and material, compels the markets to leverage in the region, which will help them provide services at lower costs to end-users.
The number of cancer deaths has increased in Japan post World War II. and soon became the top cause of death in Japan. Sysemax, a company based in Japan, collaborated with Clearbridge Biomedics and developed liquid biopsy assays. China has exploding cancer rates with an increased number of lung cancer cases in industrial provinces. The Cancer Institute and Hospital in central Beijing face difficulties due to the rising number of caseloads. India has high women mortality cases of cancer due to ignorance and delayed detection of the disease.
The new paradigm shift in cancer care, technological advancement, and the rising number of cancer patients has resulted in acquisitions, competition, innovation, and research among budding companies. The major players in the market include Ad-Tech Medical Instrument Corp, Agilent Technologies, Inc., Boston Scientific Corporation, Cintec Medical Ltd., Fischer Medical Technologies LLC.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.
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