The Europe liquid biopsy market is expected to reach US$ 2,251.12 Mn in 2027 from US$ 1,017.60 Mn in 2018. The market is anticipated to grow with a CAGR of 9.5% from 2019-2027. Factors driving the market growth include government and global health organizations initiatives. However, low sensitivity of liquid biopsy is likely to have a negative impact on market growth.
Europe liquid biopsy market Introduction
Europe liquid biopsy market is a transformative technology that enables the isolation and detection of circulating tumor cells (CTCs), circulating tumor DNA (ctDNA), and exosomes. This process yields valuable genomic information from cancer patients. Liquid biopsies are crucial in cancer diagnosis, particularly for studying treatment response and resistance.
The European Society for Medical Oncology (ESMO) plays a vital role in supporting oncology professionals in delivering optimal care. The COVID-19 pandemic has significantly impacted cancer patients, increasing their anxiety, fear, and psychological distress. The pandemic has also disrupted the supply of diagnostic kits and assays due to quarantine measures and business closures. Europe has been severely affected by the pandemic, with countries like Italy, Spain, Germany, France, and the UK experiencing substantial outbreaks. Public sources indicate that Europe had approximately 250,000 infected patients by March 26th.
Europe liquid biopsy market Strategic Insights
Strategic insights for the Europe liquid biopsy market offer data-driven analysis of the industry, including current trends, key players, and regional characteristics. These insights provide actionable recommendations, helping stakeholders differentiate themselves from competitors by identifying new market segments or developing unique value propositions. By leveraging data analytics, industry participants can anticipate market shifts and position themselves for long-term success. These strategic insights empower informed decision-making, driving profitability and business objectives within the European market.
Europe Liquid Biopsy Regional Insights
The geographic scope of the Europe liquid biopsy market encompasses the specific areas where businesses operate and compete. Understanding local nuances, such as varying consumer preferences, economic conditions, and regulatory environments, is essential for tailoring market strategies. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus enables more effective resource allocation, targeted marketing campaigns, and improved competitive positioning, ultimately driving growth in specific regions.
Key Market Segments
The European liquid biopsy market can be segmented as follows:
Product & Services: Reagents and kits held the largest market share in 2018.
Sample: Blood-based samples are projected to hold the largest market share by 2027.
Circulating Biomarker: Circulating tumor cells (CTCs) held the largest market share in 2019.
Application: Oncology is projected to hold the largest market share by 2027.
End User: Reference laboratories are projected to hold the largest market share by 2027.
Segmentation
Europe liquid biopsy market By Product & Service
Equipment
Reagents & Kits
Services
Europe liquid biopsy market By Sample
Blood Based
Urine Based
Other samples
Europe liquid biopsy market By Circulating Biomarker
Circulating Tumor Cells (CTC)
Exosomes
Free Nucleic Acid
Europe liquid biopsy market By Application
Noninvasive Prenatal Testing (NIPT)
Oncology
Transplant Diagnostics
Other Applications
Europe liquid biopsy market By End User
Academic & Research Institutes
Hospitals
Reference Laboratories
Other End Users
Europe liquid biopsy market By Geography
Europe
UK
Germany
France
Italy
Spain
Company Profiles
F. Hoffmann-la Roche ltd
Inivata Ltd
LungLife AI, Inc.
Exosome Diagnostics
MDxHealth
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights