According to the research report titled ‘Liquid Biopsy Market Size By Biomarkers (Circulating Tumor Cells [CTC], Circulating Tumor DNA [ctDNA]), By Product (Kits & Reagents, Assay & Panels), By Application (Lung Cancer, Breast Cancer, Colorectal cancer, Prostate Cancer), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global liquid biopsy market is estimated to garner sizeable returns over the forecast period 2021-2027.

As per report findings, rising incidence of cancer cases, ongoing technological advancements in cancer diagnostics, growing preference for non-invasive diagnosis methods, and increasing awareness about early testing & diagnosis are primarily driving global liquid biopsy market growth.

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For the unversed, a liquid biopsy is a blood test that searches for cancer cells from tumors circulating in blood or from DNA fragments from tumor cells. The process has been known to help in the detection of cancer at very early stage, and is also used to create treatment plans, track treatment effectivity, and find out if the cancer has returned.

Despite the positive outlook, lack of skilled professionals, and stringent regulatory frameworks across many jurisdictions are likely to restrict market development in the upcoming years.

Based on biomarker type segmentation of worldwide liquid biopsy industry, circulating tumor cells sub-segment is expected to surge at 29.7% CAGR over 2021-2027, driven by factors such as increased risk of metastatic conditions, high specificity of CTC, and increasing organizational efforts to improve service accessibility.

Considering product gamut, others sub-segment is estimated to record a notable growth rate over the forecast duration, propelled by growing efforts towards developing specific instruments for easing complex procedures and efficiently managing the workflow.

Moving on to application scope, the prostate cancer sub-segment captured nearly 9% share of the market in 2020 and is touted to record similar trends over the forecast period. High prevalence of prostate cancer in developing countries is paving the way for adoption of advanced diagnostic methods, which is likely to boost segmental share in the upcoming years.

From a regional frame of reference, Latin America liquid biopsy market is estimated to deliver a healthy CAGR of 29.4% over the stipulated timeframe. Growing emphasis of leading players on business expansion strategies to broaden product reach in LATAM region is anticipated to fuel regional market growth.

Prominent companies in the industry sphere include Menarini Silicon Biosystems S.p.A., Bio-Rad Laboratories Inc., MDxHealth S.A., Freenome Holdings Inc., Lucence Health Inc., EPIGENOMICS AG, Oncimmune, ANGLE plc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche AG, Illumina Inc., Guardant Health Inc., Myriad Genetics Inc., BIOCEPT Inc., and QIAGEN N.V.