EMEA Liquid Biopsy Market Forecast 2028: Key Players and Emerging Trends
Future of EMEA Liquid Biopsy Market: Key Dynamics, Size & Share Analysis
The EMEA Liquid Biopsy Market is projected to grow at a CAGR of around 13.98% during the forecast period, 2023-28. The market noticed consistent growth since the past few years, owing to the increasing prevalence of cancer patients coupled with a surge in demand for minimally invasive & fast diagnostic tests for detection. The rising prevalence of cancer has affected patients in the EMEA region, owing to the sedentary lifestyle, harmful carcinogenic elements in the environment, etc. According to the World Health Organisation (WHO), there were around 4 million cancer cases in Europe in 2020, of which nearly 2.4 million cases were in men & over 2.1 million in women.
Top Challenges Impacting the EMEA Liquid Biopsy Market Growth
Ascending Accuracy Concerns with Rise in the Number of False Negative Results – The detection of tumor cells in the sample for the precise diagnosis requires skilled professionals as the number of ctDNA in any particular cancer mutation is low in the blood of the cancer patient, especially after any treatment or surgery, which makes the detection of ctDNA in liquid biopsy difficult. According to sampling statistics, there may be fewer detectable cancer mutations containing ctDNA in the patient’s blood sample. As a result, ctDNA was present in the sample but at a low level, and thus couldn’t be detected in the test. This affects the test result of the liquid biopsy testing for cancer by producing false negative results where ctDNA is present but not identified. False negatives can occasionally result in a tumor's recurrence not being discovered at an early stage. Therefore, these create accuracy concerns in the results, which generates doubt in clinicians & can cause impediments in the growth of the EMEA Liquid Biopsy Market.
Understanding the Core Segments in the EMEA Liquid Biopsy Market
EMEA Liquid Biopsy Market Size, Share & Industry Trends Analysis- By Product and Services (Equipment, Assay Kits, Services), By Circulating Biomarker (Circulating Tumour Cell (CTC), Circulating Tumour DNA (ctDNA), Cell Free DNA (cfDNA), Extracellular Vesicle (EVS)), By Technology (Multi gene analysis by Next Generation Sequencing (NGS), Single gene analysis by Polymer chase reaction (PCR)), By Sample Type (Blood Urine Others (Cerebrospinal Fluid, Plasma, Saliva, etc.)), By Application (By Cancer Application, By Non Cancer Application, By Clinical Application), By End User (Hospital and Physician laboratories, Reference Laboratories, Academic & Research Centre.
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Geographical Analysis of the EMEA Liquid Biopsy Market
- Germany
- The UK
- France
- Italy
- Spain
- Saudi Arabia
- The UAE
- Egypt
- South Africa
Germany is expected to account for the majority of market share during the forecast period 2023-28, as the country has the highest adoption rate of liquid biopsy due to various healthcare companies such as Roche, Qiagen N.V.
Who Dominates the EMEA Liquid Biopsy Market Insights on Key Industry Players?
Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d
- Thermofisher Scientific
- Hoffmann-La Roche Ltd
- Sysmex Corporation
- Qiagen N.V.
- Guardant Health
- Bio Rad
- Neo Genomics
- Epigenomics
- Menarini-Silicon Biosystems
- Agena Bioscience Inc.
- Silicon Biosystems
- Pathway Genomics Corporation
- Others (Myraid Genetics, Illumina Inc.,etc)
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