Colorectal Cancer Liquid Biopsy Market Projected to Reach $1.2 Billion by 2030, says MarkWide Research
According to a new report published by MarkWide Research, titled, “Colorectal Cancer Liquid Biopsy Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2030”, the global colorectal cancer liquid biopsy market is anticipated to achieve significant growth and reach a value of $1.2 billion by the year 2030. The report provides a comprehensive analysis of the current market trends, potential opportunities, challenges, and overall market landscape.
Liquid biopsy has emerged as a groundbreaking diagnostic tool in the field of oncology, enabling non-invasive detection of cancer-specific biomarkers through the analysis of various bodily fluids, such as blood or urine. Colorectal cancer is one of the leading causes of cancer-related deaths worldwide, and the demand for accurate and early detection methods is on the rise. The adoption of liquid biopsy techniques for colorectal cancer screening is gaining momentum due to its potential to provide real-time insights into the disease’s progression and treatment response.
The report highlights that factors such as the increasing prevalence of colorectal cancer, advancements in liquid biopsy technology, and the growing emphasis on personalized medicine are driving the growth of the colorectal cancer liquid biopsy market. Additionally, the non-invasive nature of liquid biopsy procedures compared to traditional tissue biopsies is further boosting its adoption among patients and healthcare providers.
Key findings from the report include:
- Market Size and Growth: The global colorectal cancer liquid biopsy market is projected to expand at a compound annual growth rate (CAGR) of 15.3% during the forecast period from 2023 to 2030. The market is expected to reach a value of $1.2 billion by 2030, indicating substantial growth prospects.
- Technology Insights: The report segments the market based on technology into polymerase chain reaction (PCR), next-generation sequencing (NGS), microarrays, and others. Among these, the NGS segment is anticipated to witness the highest growth rate, owing to its ability to analyze multiple genetic alterations simultaneously.
- End-user Analysis: The market is categorized by end-users, including hospitals & clinics, diagnostic laboratories, and research institutes. The hospital & clinics segment holds a significant share due to the increasing adoption of liquid biopsy procedures for routine cancer screenings.
- Regional Landscape: Geographically, North America leads the colorectal cancer liquid biopsy market, attributed to the region’s advanced healthcare infrastructure, high healthcare spending, and increasing awareness about early cancer detection. Europe and the Asia Pacific are also expected to contribute significantly to the market growth during the forecast period.
The report provides a comprehensive overview of key players operating in the global colorectal cancer liquid biopsy market. Some of the prominent players in the market include companies like Guardant Health, Freenome Holdings, Exact Sciences Corporation, and GRAIL, Inc. These companies are focusing on strategic collaborations, partnerships, and product launches to enhance their market presence and expand their product offerings in the liquid biopsy space.
In conclusion, the colorectal cancer liquid biopsy market is poised for remarkable growth in the coming years, driven by technological advancements, increasing investments in research and development, and rising demand for non-invasive cancer screening methods. The report by MarkWide Research offers valuable insights and analysis to help stakeholders, industry players, and investors make informed decisions in the evolving landscape of colorectal cancer diagnostics.