Breast cancer liquid biopsy is a procedure that identifies tumor cells in a liquid blood sample taken from the target malignant spot. In general, this biopsy method aids in the early identification of malignant biomarkers to aid in better therapies and healthcare services.
The market worth of breast cancer liquid biopsy in 2021 was USD 124.46 million, and it will be worth USD 604.71 million by 2030, growing at a 19.2% CAGR during the forecast period.
The main drivers of the breast cancer liquid biopsy market’s expansion are the rise in the incidence of the disease, rising patient awareness of minimally invasive breast cancer liquid biopsy procedures, rising preference for noninvasive procedures, technological advancements in breast cancer liquid biopsy instruments, advantages over solid tumor biopsy, and rise in the prevalence of breast cancer.
Market Dynamics
Drivers
The market is growing due to the rising preference for non-invasive procedures, more knowledge of early detection and treatment, and an increase in the incidence of breast cancer. According to the World Health Organization, 685,000 women died from breast cancer in 2020, with 2.3 million women affected. For the early detection of breast cancer, liquid biopsies have been proposed as a novel method, which encourages acceptance and propels growth. The need for appropriate diagnostic techniques for early cancer detection and treatment has increased due to the rising incidence of breast cancer. To meet the growing demand, there has been an increase in R&D in the diagnostics sector.’
Restraints
The development of the market is severely constrained by the lack of accessibility to and awareness of breast cancer in developing nations. Additionally, there is a shortage of qualified doctors, and late-stage diagnosis occurs occasionally.
Opportunity
The market growth will probably be aided by more regulatory approvals from governmental organizations around the world. Additionally, liquid biopsy is a clinically useful alternative to traditional methods for detecting breast cancer. According to a survey, patients with identifiable circulating tumor cells in their blood samples have a low risk of developing breast cancer again after receiving a liquid biopsy. All of these elements support several future chances for market expansion.
Market Segmentation
By Indicators
On the basis of indicators, the market is segmented into Circulating tumor cells, extracellular vesicles, cell-free DNA, and others. Circulating free DNA segments ruled the market in 2022 due to the non-invasive methods offered by cfDNA to diagnose recurrence or progression, simplify prognosis, and discover new genetic anomalies. Many businesses provide cfDNA-based products for use in scientific research. Several cfDNA-based cancer detection tests are now under development.
By end-user
On the basis of end-user, the market is segmented into research institutes, hospitals, public health laboratories, physician laboratories, small molecular laboratories, reference laboratories, and pathology laboratories.
The reference laboratories segment ruled the entire global market for breast cancer liquid biopsy. A lab that accepts a sample from another lab and runs one or more tests on it is referred to as a “Reference laboratory.” Physician offices, private practitioners, hospitals, and other healthcare facilities like nursing homes refer patients for the majority of the tests that are carried out.
Regional Insights
North America will account for a sizable portion of the global liquid biopsy market. The factors include the region’s increased prevalence of breast cancer and the rising demand for non-invasive therapies, cutting-edge diagnostic tools, and improved health infrastructure. While breast cancer survival rates are over 80% in North America, according to the National Cancer Institute, they can be as low as 40% in some low-income nations. The absence of early detection programs in LMICs is responsible for this difference between countries.
Key Players
- Bio-Rad Laboratories
- Johnson & Johnson (Janssen Diagnostics)
- F. Hoffmann-La Roche Ltd
- BioceptInc
- Guardant Health Inc.
- Myriad Genetics
- Qiagen
- Janssen Diagnostics
- Adaptive Biotechnologies
- Biodesix
- Epic Sciences
- Fluxion Biosciences Inc.
- Illumina Inc.
The market worth of breast cancer liquid biopsy in 2021 was USD 124.46 million, and it will be worth USD 604.71 million by 2030, growing at a 19.2% CAGR during the forecast period. Factors driving market expansion in the near future are increasing rates of breast cancer in the general population, improved knowledge of early detection and treatment, and increased consumer demand for minimally invasive procedures. Additionally, rising endeavors from major industry participants and technological advancements foster market expansion.