Global Liquid Biopsy Market TOC
Growth Drivers
Challenges
Regionally, the global market is segmented into five major regions, which include North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Among the markets in these regions, the North American liquid biopsy market is estimated to hold the leading market share of 36.19% and attain a revenue of USD 9363.1 Million by the end of 2028. The market in the region is further expected to grow at a CAGR of 29.7% during the forecast period. On the other hand, the Europe liquid biopsy market is projected to hold second leading stance by garnering a revenue of USD 1228.8 Million in 2021. The growth of the market in the region can be attributed to the rising healthcare expenditure in the major countries of Europe, such as Germany, UK, Spain, and Russia.
Furthermore, in the North American region, the United States is projected to generate significant growth opportunities for market growth by attaining a revenue of 1284.3 USD Million in 2021, while Canada is projected to reap 154.4 USD Million in revenue during the same year. The North American market presently captures the larger share due to the region's robust healthcare infrastructure. Additionally, the growing prevalence of cancer in the region is also expected to generate massive demand for liquid biopsy over the forecast period. Moreover, the increasing initiatives by the U.S. government to upgrade the facilities in cancer care is also expected to favor the market's growth in the coming years. Furthermore, improved research infrastructure and increasing investments in R&D in the healthcare industry alongside the initiatives taken by the U.S. government are some of the other factors expected to contribute to the growth of the market. Over the years, government spending on healthcare resources has significantly increased the regulatory landscape, which is also a prominent factor driving the market's growth.
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
12.3% |
Base Year Market Size (2024) |
USD 6.69 billion |
Forecast Year Market Size (2037) |
USD 30.22 billion |
Regional Scope |
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Author Credits: Radhika Pawar
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