Breast Cancer Liquid Biopsy Testing Devices Market by Type and Geography - Forecast and Analysis 2022-2026

The breast cancer liquid biopsy testing devices market share is expected to increase to USD 730.4 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 23.58%.

This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (CTCs and circulating nucleic acids and extracellular vesicles) and geography (North America, Europe, Asia, and Rest of World (ROW)). The market report also offers information on several market vendors, including A. Menarini Industrie Farmaceutiche Riunite Srl, Agena Bioscience Inc., Bio Rad Laboratories Inc., Exact Sciences Corp., F. Hoffmann La Roche Ltd., Fluxion Biosciences Inc., Guardant Health Inc., Illumina Inc., Isogen Life Science BV, Myriad Genetics Inc., Natera Inc., NeoGenomics Laboratories Inc., Novogene Corp., OncoDNA SA, Pfizer Inc., QIAGEN NV, SAGA Diagnostics AB, Sysmex Corp., and Thermo Fisher Scientific Inc. among others.

What will the Breast Cancer Liquid Biopsy Testing Devices Market Size be During the Forecast Period?

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Breast Cancer Liquid Biopsy Testing Devices Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing prevalence of breast cancer is notably driving the market growth, although factors such as the high costs associated with liquid biopsy testing may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the breast cancer liquid biopsy testing devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Breast Cancer Liquid Biopsy Testing Devices Market Driver

One of the key factors driving the global breast cancer liquid biopsy testing devices 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.

Key Breast Cancer Liquid Biopsy Testing Devices Market Trend

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.

Key Breast Cancer Liquid Biopsy Testing Devices Market Challenge

One of the key challenges to the global breast cancer liquid biopsy testing devices 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 4,500to 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 forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Breast Cancer Liquid Biopsy Testing Devices Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• A. Menarini Industrie Farmaceutiche Riunite Srl
• Agena Bioscience Inc.
• Bio Rad Laboratories Inc.
• Exact Sciences Corp.
• F. Hoffmann La Roche Ltd.
• Fluxion Biosciences Inc.
• Guardant Health Inc.
• Illumina Inc.
• Isogen Life Science BV
• Myriad Genetics Inc.
• Natera Inc.
• NeoGenomics Laboratories Inc.
• Novogene Corp.
• OncoDNA SA
• Pfizer Inc.
• QIAGEN NV
• SAGA Diagnostics AB
• Sysmex Corp.
• Thermo Fisher Scientific Inc.

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as investment in research and development to compete in the market.

Product Insights and News

• A. Menarini Industrie Farmaceutiche Riunite Srl - The company offers CELLSEARCH CTC Test that is used for detecting and enumerating circulating tumour cells from blood in metastatic breast, prostate, and colorectal cancer patients.
• A. Menarini Industrie Farmaceutiche Riunite Srl - The unified segment of the company develops instruments with high speed and precision for diagnoses in various fields such as clinical chemistry, diabetes, immunology, haematology, histology, and point-of-care. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Breast Cancer Liquid Biopsy Testing Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for the Breast Cancer Liquid Biopsy Testing Devices Market?

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42% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for breast cancer liquid biopsy testing devices in North America. 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.

COVID Impact and Recovery Analysis

In 2020, North America was severely impacted by the COVID-19 pandemic. The rise in the number of COVID-19 cases in countries across North America compelled governments to introduce emergency legislation, which included restrictions on several business activities. However, the market recovered in 2021 due to the lifting of lockdowns and the initiation of large-scale vaccination drives. Moreover, vendors are trying to introduce products in the market that can cater to the specific needs of healthcare facilities triggered by the COVID-19 pandemic. Such factors will increase the demand for breast cancer liquid biopsy testing devices in the region during the forecast period.

What are the Revenue-generating Type Segments in the Breast Cancer Liquid Biopsy Testing Devices Market?

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The market share growth by the CTCs and circulating nucleic acids segment will be significant during the forecast period. 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.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Breast Cancer Liquid Biopsy Testing Devices Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the breast cancer liquid biopsy testing devices industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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