liquid bioscopy market is predicted to register a CAGR of 20.50% during the forecast period of 2020 to 2028. The primary factors propelling the market growth are growth in precision medicine, rising government initiatives, the growing pervasiveness of cancer in the older population, increasing potential of liquid biopsies, and technological advancements.
Due to rapid changes in consumer demands, diagnostic testing has been shifted from hospitals and commercial laboratories, to locations closer to the patient’s home.This has resulted in minimizing the overall cost of testing.
Most healthcare services in urban areas are delivered at home with a reduced focus on rural areas.Moreover, developing countries also have a high percentage of people residing in rural areas, with very few diagnostic centers and low accessibility.
Thus, fatalities due to cancer are very high in rural environments.The increasing death toll can be attributed to a lack of awareness of the disease, leading to ignorance of diagnosis and treatment.
Hence, it is anticipated that improved diagnostic tools, faster response times, easy availability of biopsy solutions at an inexpensive rate, and high amounts of research grants would lead to establishing numerous diagnostic centers, especially in rural areas and developing countries in the region. Consequently, the growing number of diagnostic centers are projected to offer a lucrative opportunity for biopsy solution providers and augment market growth.
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