The global breast cancer liquid biopsy market is projected to reach USD 411.2 million by 2022 from USD 145.4 million in 2017, at a CAGR of 23.1%.
The factors driving the growth of Breast Cancer Liquid Biopsy Market are the increasing prevalence of 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.
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In this report, the Breast Cancer Liquid Biopsy Market is segmented on the basis of circulating biomarker, end user, and region. Based on circulating biomarkers the market is categorised into circulating tumor cells (CTCs), cell-free DNA (cfDNA), extracellular vesicles (EVs), and other circulating biomarkers.
The cfDNA is the largest and fastest-growing segment in the circulating biomarkers market during the forecast period. The growing research in the field of breast cancer using cfDNA as a means of disease diagnosis and therapeutic monitoring is the major factor contributing to the fast growth and large share of this marlet.
Based on end user, the breast cancer liquid biopsy market is segmented into reference laboratories, hospitals and physician laboratories, and other end users (public health laboratories, pathology laboratories, small molecular laboratories, and research institutes). The reference laboratories segment is expected to register the highest CAGR during the forecast period. The high growth can be attributed to the increasing volume of liquid biopsy test samples outsourced to reference laboratories.
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.
