Portland, OR, April 01, 2021 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “Breast Cancer Liquid Biopsy Market by Product & Service (Reagent Kits, Instruments, and Services), Circulating Biomarker (Circulating Tumor Cells, Extracellular Vesicles, and Circulating Tumor DNA), and Application (Diagnostics, Prognostics, and Risk Assessment): Global Opportunity Analysis and Industry Forecast, 2019–2027”. As per the report, the global breast cancer liquid biopsy industry was pegged at $87.64 million in 2019, and is projected to reach $357.05 million by 2027, growing at a CAGR of 19.2% from 2019 to 2027.
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Major determinants of the market growth
Rise in demand for safe and non-invasive procedures, advantages of breast cancer liquid biopsy tests over traditional tests, and increase in the global prevalence rate of breast cancer have boosted the growth of the global breast cancer liquid biopsy market. However, lack of access and awareness in underdeveloped countries hinders the market growth. On the contrary, high growth potential in developing markets is expected to open lucrative opportunities for the market players in the future.
Covid-19 scenario:
- The outbreak of Covid-19 and followed pandemic hampered the growth of the industry across the globe. However, the breast cancer liquid biopsy industry has been affected by Covid-19 to a limited extend.
- The rise in the Covid-19 infection among healthcare workers has created a short supply for the R&D activities of breast cancer liquid biopsy.
The circulating tumor cell segment dominated the market
By circulating biomarker, the circulating tumor cell segment held the lion’s share in 2019, accounting for nearly three-fifths of the global breast cancer liquid biopsy market. In addition, the segment is expected to manifest the highest CAGR of 20.0% during the forecast period, as it could help understand tumor biology and metastatic process of an individual patient’s tumor. The report includes an in-depth analysis of other segments such as extracellular vesicle and circulating tumor DNA.
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The diagnostics segment to manifest the highest CAGR through 2027
By application, the diagnostics segment is estimated to register the highest CAGR of 20.2% during the forecast period. Moreover, the segment held the largest share in 2019, contributing to more than half of the global breast cancer liquid biopsy market. This is due to rise in number of patients suffering from breast cancer, technological advancements in liquid biopsy systems, and increase in patient awareness toward safe and non-invasive liquid biopsy testing procedures. The report includes a detailed analysis of other segments such as prognostics and risk assessment.
North America held the lion’s share
By region, the market across North America dominated the market in 2019, accounting for more than two-fifths of the market. This is due to increase in prevalence of breast cancer, rise in preference of physicians & patients for minimally invasive procedures, and availability of advanced healthcare facilities with trained medical professionals. However, the global breast cancer liquid biopsy market across Asia-Pacific is estimated the highest CAGR of 20.7% during the forecast period, owing to increase in number of breast cancer patients, advantages of breast cancer liquid biopsy tests over traditional tests, and improvement in healthcare facilities.
Major market players
- F. Hoffmann-La Roche Ltd. (Foundation Medicine, Inc.)
- Biocept, Inc.
- Menarini Group (Menarini Silicon Biosystems, Inc.)
- Fluxion Biosciences, Inc.
- NeoGenomics Laboratories, Inc.
- Myriad Genetics, Inc.
- Sysmex Corporation
- Qiagen N.V.
- Thermo Fisher Scientific Inc.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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