Global Breast Cancer Liquid Biopsy Market Size is Estimated to Reach USD 474.62 million by 2031, Growing at a CAGR of 18.50%: Straits Research

New York, United States, Dec. 11, 2023 (GLOBE NEWSWIRE) — Breast cancer liquid biopsy, a non-invasive blood test, can detect circulating tumor cells and DNA fragments released into the blood from primary tumors and metastatic sites. Breast cancer liquid biopsy is a rapid and precise replacement for surgical biopsy methods that enable medical professionals to detect and treat breast cancer at an early stage and gather tumor information using blood samples. Liquid biopsy for breast cancer is crucial because it helps medical professionals understand molecular and breast cancer dynamics. Additionally, prompt liquid biopsy techniques for breast cancer are anticipated to help understand breast cancer recurrence.

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Increased Desire for Non-Invasive and Safe Techniques Drives the Global Market

According to Straits Research, “The global breast cancer liquid biopsy market size was valued at USD 103.03 million in 2022. It is projected to reach USD 474.62 million by 2031, growing at a CAGR of 18.50% during the forecast period (2023-2031).” In industrialized countries, lung cancer liquid biopsy testing has increased frequently, prompting interventions in numerous cancer therapeutic fields. Both medical professionals and patients favor a breast cancer diagnosis that involves a liquid biopsy examination. As they are simple, minimally invasive, and more advantageous than conventional imaging and cancer detection modalities like radiographic and tomographic tests, computerized tomography (C.T.) scans, positron emission tomography (PET) scans, and others, breast cancer liquid biopsy tests are gaining popularity.

Patients are not exposed to radiation risks during breast cancer liquid biopsies, unlike during more conventional testing methods. Breast cancer liquid biopsy only a minimal amount of blood, making it significantly less invasive than other tissue biopsy methods like solid conventional tissue biopsy. Breast cancer liquid biopsy testing is beneficial, increasing demand for it in clinical settings and propelling market growth.

Advantages of Breast Cancer Liquid Biopsy Methods Over Conventional Diagnostics Creates Tremendous Opportunities

Breast cancer liquid biopsy testing has revolutionized cancer diagnosis since it offers substantial advantages over traditional diagnostic methods. Breast cancer liquid biopsy tests are a low-risk, cost-effective, and safe technique to identify malignancies. Compared to breast cancer liquid biopsy, radiographic and tomographic tests are more expensive. Therefore, breast cancer liquid biopsy enables continuous breast cancer disease monitoring at frequent time intervals, such as once per week, unlike computed tomography (C.T.), positron emission tomography (PET), and other traditional tomographic and radiographic cancer diagnostic procedures.

Traditional testing can be repeated only three to six months after the initial test. Breast cancer liquid biopsy can assess tasks such as patient response to therapy, treatment resistance assessment, and quick adjustment of prognosis course while continually monitoring a sick condition (if needed). Due to the advantages liquid biopsy testing for breast cancer provides over traditional tests, the market is growing.

Regional Analysis 

North America’s Breast Cancer Liquid Biopsy Industry Share is anticipated to expand at a CAGR of 18.80% over the period of 2023 to 2031. In 2019, North America’s largest revenue source was the United States developed market. Significant players like Biocept Inc., Fluxion Biosciences Inc., Myriad Genetics Inc., NeoGenomics Laboratories Inc., and Thermo Fisher Scientific Inc. are present in the market, driving the breast cancer liquid biopsy industry in North America. In addition, the critical factor that significantly supports the market’s expansion is the rise in breast cancer prevalence. As an illustration, Globocon 2018 estimates that there were roughly 262,347 new breast cancer cases in North America in 2018. Due to the rise in frequency, there has been an increase in the region’s need for liquid biopsies for breast cancer.

Europe is anticipated to grow at a CAGR of 19.40% during the forecast period. The market for breast cancer liquid biopsy in European countries is expected to expand gradually throughout the projected period due to the demand for these products. The dominance of major players such as Qiagen N.V., Menarini Group, and F. Hoffmann-La Roche Ltd. Additionally, patients in these countries are increasingly using breast cancer liquid biopsy tests. The European Code Against Cancer (ECAC) continues increasing public awareness of the illness, all of which are positive market drivers.

Key Highlights

• Based on product and service, the global breast cancer liquid biopsy market is bifurcated into reagent kits, instruments, and services. The reagent kits segment is the highest contributor to the market and is estimated to boost at a CAGR of 19.50% during the forecast period.
• Based on circulating biomarkers, the global breast cancer liquid biopsy market is bifurcated into circulating tumor cells, extracellular vesicles, and circulating tumor DNA. The circulating tumor cells segment is the highest contributor to the market and is estimated to go up at a CAGR of 19.40% during the forecast period.
• Based on application, the global breast cancer liquid biopsy market is bifurcated into diagnostics, prognostics, and risk assessment. The diagnostics segment is the highest contributor to the market and is estimated to grow at a CAGR of 19.70% during the forecast period.
• North America is the major revenue contributor and is expected to grow at a CAGR of 18.80% during the forecast period.

Competitive Players

The global breast cancer liquid biopsy market’s major key players are Biocept Inc., F. Hoffmann-La Roche Ltd. (Foundation Medicine, Inc.), Fluxion Biosciences, Inc., Menarini Group (Menarini Silicon Biosystems, Inc.), Myriad Genetics, Inc., NeoGenomics Laboratories, Inc., Qiagen N.V., Sysmex Corporation, Thermo Fisher Scientific Inc., and Guardant Health, Inc.

Market News

• In March 2023, REVEAL GENOMICS, S.L., a Barcelona-based biotechnology start-up seeking to revolutionize precision oncology through biomarker innovation, announced a new addition to its pipeline consisting of a novel biomarker approach in liquid biopsy for patients with advanced cancer.

Global Breast Cancer Liquid Biopsy Market: Segmentation

By Product and Service

• Reagent Kits
• Instruments
• Services

By Circulating Biomarker

• Circulating Tumor Cells
• Extracellular Vesicles
• Circulating Tumor DNA

By Applications

• Diagnostics
• Prognostics
• Risk assessment

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA

Get Detailed Market Segmentation @ https://straitsresearch.com/report/breast-cancer-liquid-biopsy-market/segmentation

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