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IMARC Group, a leading market research company, has recently releases report titled“Breast Cancer Liquid Biopsy Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The global breast cancer liquid biopsy market size reached US$ 110.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 326.2 Million by 2028, exhibiting a growth rate (CAGR) of 17.81% during 2023-2028.
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Factors Affecting the Growth of the Breast Cancer Liquid Biopsy Industry:
Advancements in Liquid Biopsy Technology:
Continuous advancements in liquid biopsy technology are leading to the development of more precise and reliable liquid biopsy assays, enabling earlier and more accurate detection of breast cancer-related mutations and alterations. Liquid biopsies allow clinicians to track the evolution of cancer mutations and alterations during treatment, helping them make timely adjustments to therapy when resistance or disease progression is detected. Real-time monitoring contributes to more effective and personalized treatment strategies. Additionally, the integration of liquid biopsy technology with next-generation sequencing (NGS) platforms is improving treatment efficacy.
Growing Emphasis on Precision Medicine:
The growing emphasis on precision medicine is leading to an increase in clinical trials focused on targeted therapies and immunotherapies. Liquid biopsies are instrumental in identifying eligible patients with specific genetic markers for these trials. This accelerates the development of novel treatments and expands the arsenal of therapeutic options available for breast cancer patients. Furthermore, regulatory agencies, such as the U.S. Food and Drug Administration (FDA) are streamlining the approval process for targeted therapies and companion diagnostics, which are often paired with liquid biopsy tests.
Growing Demand for Non-Invasive Diagnostics:
The rising demand for non-invasive and convenient diagnostic methods is strengthening the growth of the market. Liquid biopsies are usually performed through a simple blood draw and aid in eliminating the need for surgical procedures, reducing patient discomfort and anxiety associated with tissue biopsies. In addition, the non-invasive nature of liquid biopsies supports the implementation of breast cancer risk reduction and screening programs. These programs help identify individuals at higher risk of developing breast cancer due to family history or genetic predisposition.
Breast Cancer Liquid Biopsy Market Report Segmentation:
By Product Services:
Reagent Kits Instruments Services
Reagent kits dominate the market due to their ease of use, cost-effectiveness, and consistent performance.
By Circulating Biomarker:
Circulating Tumor Cells (CTCs) Cell-Free DNA (cfDNA) Extracellular Vesicles (EVs) Others
On the basis of circulating biomarker, the market has been segmented into circulating tumor cells (CTCs), cell-free DNA (cfDNA), extracellular vesicles (EVs), and others.
By End User:
Reference Laboratories Hospitals and Physician Laboratories Others
Based on the end user, the market has been classified into reference laboratories, hospitals and physician laboratories, and others.
Regional Insights:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
North America's dominance in the breast cancer liquid biopsy market is attributed to its robust healthcare infrastructure, early adoption of advanced diagnostic technologies, and a high prevalence of breast cancer cases, facilitating extensive market growth in the region.
Global Breast Cancer Liquid Biopsy Market Trends:
The increasing focus on minimal residual disease (MRD) monitoring is creating a positive outlook for the market. Liquid biopsies are widely used for MRD monitoring due to their high sensitivity and ability to detect trace amounts of circulating tumor DNA (ctDNA) in the bloodstream. Along with this, the integration of artificial intelligence (AI) and machine learning algorithms is improving the treatment efficacy. AI algorithms can analyze complex patterns and genetic variations in liquid biopsy data more efficiently than traditional methods. They can identify subtle changes in ctDNA and predict treatment responses with greater precision. Additionally, machine learning models can aid in the interpretation of liquid biopsy results, providing clinicians with actionable information.
Leading Companies Operating in the Global Industry:
Biocept Inc., Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG, Fluxion Biosciences Inc., Guardant Health Inc., Illumina Inc., Menarini Silicon Biosystems (The Menarini Group), NeoGenomics Laboratories Inc., Qiagen and Sysmex Europe SE (Sysmex Corporation).
Other Key Points Covered in the Report:
COVID-19 Impact Porters Five Forces Analysis Value Chain Analysis Strategic Recommendations
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