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The breast cancer liquid biopsy testing devices market size is estimated to grow by USD 1.16 billion at a CAGR of 31.34% between 2023 and 2028. The market is experiencing significant growth due to several key factors. The increasing prevalence of breast cancer worldwide necessitates early and accurate diagnosis, driving demand for advanced testing technologies. Additionally, there is a growing preference for non-invasive procedures over traditional biopsies, making liquid biopsy testing an attractive option. Furthermore, the market is fueled by the rising number of new product launches and FDA approvals, introducing innovative solutions and expanding the competitive landscape. These trends are expected to continue, ensuring robust growth for the Breast Cancer Liquid Biopsy Testing Devices market in the coming years.
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The market encompasses various health organizations' offerings of noninvasive procedures for detecting and monitoring breast cancer. These tests utilize circulating biomarkers, such as Circulating Tumor Cells (CTCs), Cell-free DNA (cfDNA), Extracellular Vesicles (EVs), and Circulating Tumor DNA (ctDNA). Molecular laboratories, Pathology laboratories, physician laboratories, and reference laboratories provide these services using advanced technologies like Polymerase Chain Reaction (PCR) and Next-generation Sequencing (NGS). Breast cancer liquid biopsy testing devices market includes Limitations associated with these tests, such as shutdowns due to short supply of reagent kits and instruments. Despite these challenges, the market continues to grow due to the importance of Personalized Medicine and the role of these tests in diagnostics and prognostics. Circulating biomarkers' Specificity and ability to provide real-time information on breast cancer make them essential tools in cancer care. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the global industry growth is the increasing prevalence of breast cancer. According to the IARC, in December 2020, breast cancer overtook lung cancer as the world's most commonly diagnosed cancer. The increasing incidence of breast cancer is also associated with the growth of the geriatric population. A mutation in the BRCA1 and BRCA2 genes is primarily responsible for breast cancer among people. In early 2022, approximately 287,850 new cases of invasive breast cancer were diagnosed in women in the US, along with 51,400 new cases of non-invasive breast cancer. Healthcare professionals recommend and perform a liquid biopsy as a suitable and cost-effective treatment option when compared with other breast biopsy procedures for the early detection of breast cancer among patients. This will drive the growth of the market during the forecast period.
Technological advances is one of the key market trends that is expected to impact the industry positively in the forecast period. The emergence of NGS in liquid biopsy procedures for breast tumours has led to a significant reduction in the cost of the procedures and, at the same time, enhanced and improved their accuracy. For instance, in December 2020, Biocept, Inc. announced results from a prospective study that showed Target Selector was highly accurate in monitoring HER2 alterations in patients with metastatic breast cancer. Most of the prominent vendors are focusing on developing solutions and assays for NGS to detect breast cancers. For instance, Thermo Fisher Scientific focuses on the development of sample preparation solutions for cell-free nucleic acids and liquid biopsy assays for NGS to help in the identification of cancer drivers, serial monitoring, and recurrence detection. Similarly, QIAGEN has developed the GeneReader NGS System to perform NGS assays. Such developments will further drive market growth in the coming years.
One of the key challenges to the global industry growth is the costs associated with liquid biopsy testing. Liquid biopsy is used as a widely accepted alternative to core needle and surgical biopsy procedures. NGS and PCR are the most common technologies used in liquid biopsy. The cost of the liquid biopsy procedure mostly comprises the devices used in the diagnostic process and the fees charged by the professionals. The average cost of the multigene panels used during the liquid biopsy procedure is USD 4,500 to USD 10,500. In addition, the unfavourable reimbursement scenario for liquid biopsy and the diagnostic procedures involved, increase the burden on healthcare providers and patients. Such factors may limit the growth of the market during the market forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Exact Sciences Corp. - The company offers the Oncotype DX Breast DCIS Score test.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The CTCs and circulating nucleic acids segment is estimated to witness significant growth during the forecast period. In the realm of breast cancer diagnostics, noninvasive procedures such as liquid biopsy have emerged as a significant tool for health organizations in the pursuit of personalized medicine. This approach allows for the identification and analysis of circulating biomarkers, including Circulating Tumor Cells (CTCs) and cell-free DNA (cfDNA), which are majorly found in breast cancer cases.
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Detection of CTCs and ctDNA is majorly preferred by healthcare professionals for early detection of breast cancers owing to its sensitivity and specificity. Easy identification of the presence of breast cancer, increasing opportunity of getting an accurate snapshot of the genomic landscape of the tumour, and increasing demand among healthcare professionals to understand the chances of mutations causing metastases are the major factors driving the growth of the CTCs and circulating nucleic acids in market.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. However, market growth in this region will be slower than the growth of the market in other regions.
The adoption of advanced technologies, increasing healthcare expenditure, rising prevalence of breast cancer, and growing awareness among people about screening and diagnostic procedures for breast cancer will facilitate the market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market is witnessing significant growth due to the increasing prevalence of breast cancer and the advancements in diagnostic technologies. One such technology gaining traction is Liquid Biopsy Testing for Breast Cancer. This non-invasive approach allows for the detection of cancer cells in the blood, providing valuable information for diagnosis, prognosis, and treatment monitoring. Breast Cancer Liquid Biopsy Testing Devices are essential tools in this process. These devices facilitate the isolation and analysis of circulating tumor cells (CTCs) and circulating tumor DNA (ctDNA) from blood samples. The use of these devices offers several advantages, including early detection, minimal invasiveness, and real-time monitoring of cancer progression. The market is expected to grow substantially due to the rising demand for accurate and early breast cancer diagnosis. Additionally, the ongoing research and development in this field are expected to drive innovation and improve the overall efficiency and accuracy of these devices. Key applications include diagnosis, prognosis, and treatment monitoring. The devices are also used for personalized medicine, enabling tailored treatment plans based on individual patient needs. In conclusion, the Breast Cancer Liquid Biopsy Testing Devices market is poised for growth due to the increasing demand for accurate and early breast cancer diagnosis, minimal invasiveness, and real-time monitoring capabilities. The ongoing research and development in this field are expected to further drive innovation and improve the overall efficiency and accuracy of these devices.
Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 31.34% |
Market growth 2024-2028 |
USD 1164 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
23.41 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 43% |
Key countries |
US, Germany, Canada, France, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A. Menarini Industrie Farmaceutiche Riunite Srl, Bio Rad Laboratories Inc., Cell Microsystems Inc., Exact Sciences Corp., F. Hoffmann La Roche Ltd., Guardant Health Inc., Illumina Inc., Isogen Life Science BV, Mesa Laboratories Inc., Myriad Genetics Inc., Natera Inc., NeoGenomics Laboratories Inc., Novogene Co. Ltd., OncoDNA, Pfizer Inc., QIAGEN NV, SAGA Diagnostics AB, Sysmex Corp., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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