Global Liquid Biopsy Market TOC
Liquid Biopsy Market size was valued at USD 5.96 billion in 2023 and is expected to reach USD 26.93 billion by 2036, expanding at around 12.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of liquid biopsy is evaluated at USD 6.55 billion.
The growth of the liquid biopsy market can be attributed to the increasing advancements in medical research, as well as the rising concern for the increasing prevalence of chronic diseases worldwide. Global cancer incidences are on the rise, with breast cancer being the most prevalent among all cancers. The increase in cancer occurrences drives technological advances for diagnostic and treatment fields to ensure cancer detection and treatment and decrease the mortality rates. All cancers release various cells, genetic material, and other cellular components into the bloodstream that can be used to detect specific markers to diagnose them. Liquid biopsy has seen significant advancements in technology and a rise in its clinical and research application. While tissue biopsy remains the gold standard in cancer diagnosis and treatment, liquid biopsy in conjunction with other diagnostic approaches can be vital in diagnosing cancers as treatment at an early stage has a higher probability of cure. According to the statistical report GLOBOCAN 2020 released by the International Agency for Research on Cancer (IARC), stated that in the year 2020, a total of 19.3 Million cancer cases were registered globally. Moreover, a total of 10 Million deaths caused due to cancer was also registered in the same year.
Furthermore, tremendous progress has been made in all medicine sectors, both diagnostic and curative, in the global healthcare system. The advancement of non-invasive or minimally invasive therapies, more precise diagnostics employing artificial intelligence, and telemedicine breakthroughs are paving the way for better infrastructure with composite solutions for diverse conditions at an accessible price. However, due to a lack of regulatory standards in particular developing countries and other policies that prohibit the use of liquid biopsy in hospitals, liquid biopsy remains minimal. As a result, only a few hospitals and research institutions utilize liquid biopsy, which is expected to hamper the liquid biopsy market growth during the forecast period.
Author Credits: Radhika Pawar
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