The key factors driving the growth of this market include increasing prevalence of breast cancer, increasing preference for noninvasive 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 liquid biopsy in breast cancer market is expected to reach USD 411.1 million by 2022 from USD 145.4 million in 2017, at a CAGR of 23.1%.
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North America accounted for the largest share of the liquid biopsy in breast cancer 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.
Based on end user, the liquid biopsy in breast cancer 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.
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 liquid biopsy in breast cancer 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 liquid biopsy in breast cancer market.
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The key players in the global liquid biopsy in breast cancer 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).
Mr. Aashish Mehra
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