(PharmaNewsWire.Com, December 10, 2019 ) The factors driving the growth of this market are the increasing prevalence of cancer, increasing preference for non-invasive procedures, initiatives undertaken by government and global health organizations, technological advancement to augment market revenues, rising emphasis on personalized medicine, and availability of funding for liquid biopsy R&D.
According to the new market research report Breast Cancer Liquid Biopsy Market is expected to reach USD 411.1 million by 2022, at a CAGR of 23.1%.
Geographically, the breast cancer liquid biopsy market in the APAC region is expected to register the highest CAGR during the forecast period. Rising disposable incomes in middle-class populations have led to an increase in healthcare spending in India and China. This, along with infrastructural developments and rising penetration of cutting-edge diagnostic technologies in these countries, is a major factor providing significant growth opportunities for manufacturers and distributors of breast cancer liquid biopsy products in this region.
North America dominated the market in 2017 North America accounted for the largest share of the breast cancer liquid biopsy market in 2017, followed by Europe. A number of factors such as the easy accessibility and high adoption of advanced diagnostic technologies (such as PCR and NGS) among healthcare professionals, rising prevalence of breast cancer in the US and Canada, technological advancements in breast cancer liquid biopsy products, and growing public and private funding to support research activities in the field of liquid biopsy are aiding market growth in the region.
The key players in the global breast cancer liquid biopsy market are QIAGEN N.V. (Netherlands), Roche Diagnostics (US), Bio-Rad Laboratories Inc. (US), Myriad Genetics, Inc. (US), Menarini Silicon Biosystems (Italy), Genomic Health, Inc. (US), Thermo Fisher Scientific Inc. (US), Illumina, Inc. (US), Biocept, Inc. (US), Trovagene, Inc. (US), Guardant Health, Inc. (US), RainDance Technologies, Inc. (US), and MDx Health SA (US).
By circulating biomarkers, cell-free DNA (cfDNA) is expected to account for the largest market share in 2017 Based on circulating biomarkers, the market is categorized into circulating tumor cells (CTCs), cell-free DNA (cfDNA), extracellular vehicles (EVs), and other circulating biomarkers. In 2017, the cfDNA segment is expected to account for the largest share of the breast cancer liquid biopsy market. The ability of cfDNA for easy and early assessment of patient prognosis and occurrence in other body fluids along with blood is driving the growth of the cfDNA segment in the breast cancer liquid biopsy market.
By end user, the reference laboratories segment accounted for the largest market share in 2017 Based on end user, the breast cancer liquid biopsy market is segmented into reference laboratories, hospitals and physician laboratories, and other end users (research institutes, public health laboratories, pathology laboratories, and small molecular laboratories). Reference laboratories form the largest and fastest-growing end-user segment of the liquid biopsy market. The large share of this segment is attributed to the increasing volume of liquid biopsy test samples outsourced to reference laboratories owing to their well-equipped set up for genetic testing.
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