Articles

Liquid Biopsy and Other Non-Invasive Cancer Diagnostics: Current and Future Market Opportunities

by Crescendo Global Crescendo Global Leadership hiring

Given the invasive nature of tissue biopsies, there is a significant unmet need for safer and more patient-friendly cancer diagnostics that are capable of offering highly accurate, and actionable insights related to the disease. Within the field of cancer diagnostics, liquid biopsies have emerged as a powerful diagnostic solution, especially in cases where conventional tests are inconclusive, or the clinical condition is related to an organ that is not amenable to biopsy access.

 

Our estimates suggest that, in 2019, the market is likely to be worth USD 2,894 million and this value is projected to be USD 21,412 million by 2030, growing at an annualized rate of 20%. In the optimistic scenario, we expect the market to reach USD 26,109 million by 2030, while according to our conservative forecast scenario, the market is likely to be valued at USD 17,482 million by 2030. Further details related to the aforementioned scenarios are provided in the appendices.

 

The revenues in 2019, are expected to be dominated by tests being developed for the diagnosis of colorectal cancer (20%), followed by lung cancer, breast cancer, and ovarian cancer. This trend is likely to persist in the future as well.

 

Further, diagnostics being developed for the early detection of disease are likely to capture the maximum market share (61%), followed by diagnostics for patient monitoring and recurrence monitoring.

 

 

In terms of geography, as per our estimates, in 2019, the major contribution to the market is expected to be made by US (35%), followed by China (16%), Germany (9%), and India (9%). In 2030 as well, US (35%) is likely to contribute towards majority share of the market, followed by China (15%), India (10%), and Germany (9%).


 


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About Crescendo Global Freshman   Crescendo Global Leadership hiring

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Joined APSense since, December 19th, 2019, From Ludhiana, India.

Created on Jun 24th 2020 09:52. Viewed 237 times.

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