The European Liquid Biopsy Market size is estimated to value USD 1497.66 million by 2027 from USD 566.80 million in 2022, growing at a CAGR of 21.45% during the forecast period.
Europe Liquid Biopsy market led the global liquid biopsy market in 2019. In the coming years, the global liquid biopsy market is expected to undergo significant changes. Currently, the global market is just beginning, but it is still growing at a significant rate. Many start-ups and promising companies are entering the market.
Currently, in Europe Liquid Biopsy Market, research and development on cancer diagnosis focus on liquid biopsy. Market participants and research institutes are conducting extensive clinical trials to develop a sensitive liquid biopsy platform. In May 2018, Grail, a U.S.-based biotechnology company, raised $ 1 billion in venture capital and began early breast cancer research with 120,000 patients. In January 2018, researchers at Johns Hopkins University developed a test called CancerSEEK. The analysis includes more than 1,000 patients with nonmetastatic stage I to III ovary, stomach, liver, pancreas, esophagus, lung, colorectal, and breast cancer. Large-scale liquid biopsy studies aimed at facilitating early cancer diagnosis may lead the market over the forecast period.
With the advantages of liquid biopsy over solid tissue biopsy, the European Liquid Biopsy Market is presumed to show modest growth over the forecast period. In addition, the growing number of cancer patients and increasing awareness of minimally invasive cancer patients are supposed to drive market growth. Furthermore, the increase in pre-screening programs for cancer detection is presumed to provide market expansion opportunities.
The European liquid biopsy market is growing due to the high incidence of cancer and rising medical costs. Therefore, the region is foreseen to multiply concerning the development and use of liquid biopsy techniques.
The market players' increasing investment for growth and adoption of new technologies by hospital providers is expected to drive market growth in the region.
However, alternatives to liquid biopsy, uncertain reimbursement, and regulatory conditions are anticipated to hamper the regional market growth. High testing costs, a shortage of trained professionals, and fewer reimbursement policies can limit the growth of the European liquid biopsy market.
This research report on the European Liquid Biopsy Market has been segmented and sub-segmented market into the following categories:
By Cancer Type:
By Diagnostic Approach:
Regionally, the Europe region is also showing high growth in liquid biopsy in the future. An increase in population, patients who have cancer, increasing awareness within the people, and the need to detect and recover cancer drive the market. Lung cancer is one of the most common diseases in European countries.
The number of cancer patients in the UK is increasing, where around 367,000 new cases are found every year. Most of the patient who dies is because of late detection, and liquid biopsy is used to detect and treat various types of cancer such as lung, breast, prostate, and bowel. The government and non-government organizations are promoting a liquid biopsy, which is likely to bolster the market's demand. Growing expenditure on healthcare, especially in urban areas, is promoting the growth rate of the market. Many clinical trials are going on in the UK to develop an innovative treatment procedure for cancer.
Germany has the highest market in the European region, following the UK. There is a substantial rise in the number of cancer patients in Germany. The government in Germany is collaborating with biotech companies to improve liquid biopsy techniques. Many institutes in Germany are researching liquid biopsy.
In France, the market share is to have a significant growth rate in the coming years. Government funding and growing prevalence to improve healthcare services are fueling the demand of the market. In addition, there is a liquid biopsy online platform called Biobank Cote d’Azur. The launch of new products is also one of the factors for the market to grow.
Over 50% of total death in Spain is caused due to cancer. Thus, liquid biopsy is used on a large scale to detect cancer at an early stage. There is a lab for the treatment of cancer in Spain. The liquid biopsy market is growing at a good rate in Italy.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Europe Liquid Biopsy Market are Janssen Diagnostics, Qiagen, Rarecells SAS, Silicon Biosystems, SRI International, Myriad Genetics, Natera, Personal Genome Diagnostics, Sysmex Inostics, Trovagene, Exosome Diagnostics, Exosome Sciences, and HansaBiomed OU.
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