Liquid biopsy is a non-invasive technology that identifies molecular biomarkers using liquid sample instead of using costly or invasive procedures. These tests have great potential for primary detection of cancer, treatment and recurrence monitoring, recognition of genetic abnormalities in foetus, and graft rejection in transplantation patients.
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The global liquid biopsy market was USD 1074.73 million in 2018 and is estimated to reach USD 2832.96 million by 2025 at a CAGR of 14.85% during the forecast period
Growth by Region
North America leads the market owing to the innovative technological improvements, and increasing occurrence of cancer rates in the Canada and U.S. The markets in developing countries are likely to grow at a rapid pace during the forecast period owing to the rising disease prevalence, healthcare awareness, and healthcare spending.
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Drivers and Restraints
Growth in research & developments and clinical trials for diagnostics, technological enhancements, growing occurrence of cancer, and growing awareness about liquid biopsy are the major factors fostering the market growth. However, huge costs and complex regulations are restraining the market growth.
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Industry Trends and Updates
According to the study of World Health Organization, nearly 14 million new cancer cases were diagnosed and is anticipated to grow by about 70% over the next 2 decades.