At 19.9% CAGR, Global Breast Cancer Liquid Biopsy Market Size & Share to Surpass USD 357.05 Million by 2028 | Industry Trends, Growth, Value, Opportunities, Statistics, Analysis & Forecast Report by Zion Market Research
NEW YORK, June 20, 2022 /PRNewswire/ -- As per Zion Market Research study, The global breast cancer liquid biopsy market achieved revenue growth of USD 87.64 million in 2021 and it is expected to grow at a CAGR of 19.9 percent to reach USD 357.05 million by 2028.
Key Industry Insights & Finding of the Breast Cancer Liquid Biopsy Market Reports:
- As per the analysis shared by our research analyst, the Breast Cancer Liquid Biopsy Market is expected to grow annually at a CAGR of around 19.9 % (2022-2028).
- Through the primary research, it was established that the Breast Cancer Liquid Biopsy Market was valued approximately USD 87.64 Million in 2021 and is projected to reach to roughly USD 357.05 Million by 2028.
- Healthcare infrastructure and the rising prevalence of cancer, the breast cancer liquid biopsy market in Asia Pacific is predicted to grow at the fastest CAGR over the forecast period.
- The growing demand for minimally invasive surgeries in the region is fueling market expansion by reducing hospital stays and total medical costs.
- North American region is also known to follow pursuit, due to increasing cases of breast cancer and preference for non-intrusive cancer treatments.
Zion Market Research published the latest report titled as "Breast Cancer Liquid Biopsy Market By Product (Assay Kits, Instruments, & Services), By Application (Cancer Diseases, Non-Cancer Disease, & Others), By End User (Hospitals, Laboratories, Research Centers, & Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
Breast Cancer Liquid Biopsy Market : Overview
A non-invasive blood test for breast cancer detects tumor DNA fragments and circulating tumor cells (CTCs), which are discharged into the blood from primary tumors and metastatic sites. It is the process of detecting tumor cells in a liquid blood sample taken from the malignant site of interest. Breast cancer liquid biopsy is a straightforward and precise alternative to surgical biopsy procedures that allows doctors and surgeons to diagnose and treat breast cancer early and collect tumor information from blood samples. It aids doctors in comprehending the molecular alterations and dynamics of breast cancer. Furthermore, breast cancer recurrence is predicted to be comprehended using well-timed liquid biopsy procedures for breast cancer.
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Industry Dynamics:
Breast Cancer Liquid Biopsy Market : Growth Drivers
- Surge in the global occurrence of breast cancer to drive the global market.
The recent upsurge in cases of breast cancer is one of the primary reasons driving the market growth. Breast cancer is the most common type of cancer among women worldwide, as per the WHO. Breast cancer affects over 2.1 million women each year, and it is the leading cause of cancer-related death in women. Breast cancer claimed the lives of an estimated 627,000 women in 2018, accounting for over 15% of all cancer mortality in women worldwide. The high incidence of breast cancer and the growing desire for better minimally invasive therapy are the primary drivers of the global breast cancer liquid biopsy market.
Breast Cancer Liquid Biopsy Market : Restraints
- Low sensitivity of liquid biopsy procedure for breast cancer to restrain the market growth.
Liquid biopsy providers are concerned about the procedure's sensitivity, which could lead to misdiagnosis due to tiny levels of circulating genetic material. Specificity is also a concern, as false-positive results might lead to patients being treated needlessly. Because liquid biopsy results lack the desired specificity and sensitivity, physicians and researchers must rely on tissue biopsies instead. To some extent, this is impeding market revenue growth.
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Global Breast Cancer Liquid Biopsy Market : Opportunities
- Preference for noninvasive procedures to provide opportunities for growth of the global market.
The general trend is toward increasing their preferences for various types of non-invasive healthcare services, whether treatments or diagnosis, which are the major drivers driving the growth of the breast cancer liquid biopsy market during the forecast period. Furthermore, with the introduction of liquid biopsy, personalized medicine adoption & availability have never been easier, and the growing trend of producing personalized treatments will boost the market's overall growth throughout the forecast period.
Global Breast Cancer Liquid Biopsy Market : Challenges
- Lack of awareness and access to liquid biopsy in developing and underdeveloped countries.
Several developing countries especially in the Asia Pacific region lack awareness of breast cancer as well as other diagnostic biopsy techniques. With great difficulty, the government was successful in introducing traditional biopsy methods, and bringing forward new methods such as liquid biopsy is difficult. Secondly, these methods are costlier than traditional methods causing significant challenges in the global breast cancer liquid biopsy market.
Global Breast Cancer Liquid Biopsy Market : Segmentation
- The global market is segmented based on product, application, end-user, and region.
By product, the market is segregated into assay kits, instruments, and services. Among these, assay kits are now the leading revenue contributor by product and are expected to expand significantly during the forecast period. The introduction of novel liquid biopsy reagents that perform circulating biomarker analysis and target enrichment, as well as an increase in the count of breast cancer liquid biopsy test procedures, rise in reagent kits' demand, rise in approval of breast cancer liquid biopsy reagent kits, and advent of novel liquid biopsy reagents that perform circulating biomarker analysis & target enrichment are the major drivers that boost the segment's growth.
By application, the market is divided into cancer diseases, non-cancer disease, and others. Due to technological developments in liquid biopsy systems and increased patient knowledge of safe and non-invasive liquid biopsy testing processes, the diagnostics segment for cancer is the largest stakeholder in the global breast cancer liquid biopsy market, depending on the application.
By end-user, the market is bifurcated into hospitals, laboratories, research centers, and others. Laboratories top the market in the end-user segment since even hospitals tend to send test samples and patients to laboratories for testing and treatment. The increase in collaborations between hospitals and test centers attribute to this.
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List of Key Players of Breast Cancer Liquid Biopsy Market :
- Myriad Genetics Inc.
- Sysmex Corporation
- Fluxion Biosciences Inc.
- Biocept Inc.
- Qiagen N.V.
- Thermo Fisher Scientific Inc.
- Biodesix Inc.
- Isogen Life Science B.V.
Key questions answered in this report:
- What are the growth rate forecast and market size for Breast Cancer Liquid Biopsy Market ?
- What are the key driving factors propelling the Breast Cancer Liquid Biopsy Market forward?
- What are the most important companies in the Breast Cancer Liquid Biopsy Market Industry?
- What segments does the Breast Cancer Liquid Biopsy Market cover?
- How can I receive a free copy of the Breast Cancer Liquid Biopsy Market sample report and company profiles?
Report Scope:
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Recent Developments
- In 2020, Personalis, Inc. released the NeXT Liquid Biopsy, which uses blood samples from advanced-stage solid tumor cancer patients.
- In 2021, Elio Plasma Complete was launched by Personal Genome Diagnostics Inc. The kit is suitable for examining genetic fingerprints & gene mutations in a variety of cancer types.
Regional Dominance:
· Asia Pacific to hold a large market share for the forecast period.
Due to an increase in the number of government initiatives to modernize healthcare infrastructure and the rising prevalence of cancer, the breast cancer liquid biopsy market in Asia Pacific is predicted to grow at the fastest CAGR over the forecast period. The growing demand for minimally invasive surgeries in the region is fueling market expansion by reducing hospital stays and total medical costs. North American region is also known to follow pursuit, due to increasing cases of breast cancer and preference for non-intrusive cancer treatments.
Global Breast Cancer Liquid Biopsy Market is segmented as follows:
Breast Cancer Liquid Biopsy Market : By Product Outlook (2022-2028)
- Assay Kits
- Instruments
- Services
Breast Cancer Liquid Biopsy Market : By Application Outlook (2022-2028)
- Cancer Diseases
- Non-Cancer Diseases
- Others
Breast Cancer Liquid Biopsy Market : By End User Outlook (2022-2028)
- Hospitals
- Laboratories
- Research Centers
- Others
Breast Cancer Liquid Biopsy Market : By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Press Release For Breast Cancer Liquid Biopsy Market : https://www.zionmarketresearch.com/news/global-breast-cancer-liquid-biopsy-market
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