Liquid Biopsy Market Will Escalate Rapidly in the Near Future
Transparency Market Research has published a newest report that gives out in-detail information about the working dynamics of the global liquid biopsy market. According to the research analysts, the global liquid biopsy market will exhibit a healthy double digit CAGR of 10.1% during the mentioned projection period of 2018 to 2026. With this strong growth rate, the market is expected to touch a mark of US$9071.7 mn by the end of 2026. Initially, the market valuation was recorded at US$3,883.2 mn back in 2017.
Liquid Biopsy Market to Experience Fragmentation with Rise in Number of Participants
The global liquid biopsy market is projected to undergo a considerable transformation in the coming few years. Currently, the global market is at its nascent stage, yet growing at a considerable pace. Numerous emerging and promising companies are entering in the market space. This has led to the fragmentation of the competitive landscape. However, the leading companies in the market are opting aggressive marketing strategies such as mergers and takeovers in order to maintain their brand position in the market.
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Several research institutes are trying to invest more in the activities of research and development due to which the global liquid biopsy market is projected to experience massive diversification and growth in the next few years. Some of the leading companies operating in the global liquid biopsy market include names such as Myriad Genetics Inc., Thermo Fisher Scientific Inc., Genomic Health Inc., Bio-Rad Laboratories, and MDxHealth among others.
Leading Firms are Moving their Bases to Get Away from Strict Regulations in North America
In terms of geographical segmentation, the global liquid biopsy market is divided into five major regional segments. These are North America, Asia Pacific, Middle East and Africa, Europe, and Latin America. Currently, the region of Asia Pacific is showing a great potential for the development of liquid biopsy market.
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China in particular is being targeted by several leading biotechnological firms. These firms have already started their clinical trials in the country owing to flexible trial mandates and regulations. This has encouraged several leading firms to shift their bases from America to Europe and Asia Pacific. This movement is also stimulated by the fact that clinical and research trials are highly expensive in America. Moreover, these clinical trials need strict approvals from the regulatory bodies and detailed reimbursement policies.
