(I-BusinessNews.Com, March 02, 2021 ) According to the new market research report Breast Cancer Liquid Biopsy Market is expected to reach USD 411.1 million by 2022, at a CAGR of 23.1%.
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The factors driving the growth of this market are the increasing prevalence of cancer, increasing preference for noninvasive procedures, initiatives undertaken by government and global health organizations, technological advancement to augment market revenues, rising emphasis on personalized medicine, and availability of funding for liquid biopsy R&D.
The Liquid Biopsy in Breast Cancer Market is a consolidated market with a large number of companies offering breast cancer liquid biopsy instruments and accessories. In 2016, QIAGEN N.V. (Netherlands), Roche Diagnostics (US), and Illumina, Inc. (US) dominated the breast cancer liquid biopsy market.
QIAGEN was the leading player in the Liquid Biopsy in Breast Cancer Market in 2017. The company is a global provider of sample-to-insight solutions that aids in the transformation of biological samples into molecular insights. The company operates through its two business segments, namely, instruments and consumables & related products. QIAGEN provides solutions to more than 500,000 customers globally, in molecular diagnostics (human healthcare), applied testing (forensics, veterinary testing, and food safety), pharma (pharma and biotech companies), and academia (life sciences research). The company operates in the Liquid Biopsy in Breast Cancer Market through its molecular diagnostics and life science tools customer base segment. .
Roche Diagnostics ranked second in the breast cancer liquid biopsy market in 2017. Roche Diagnostics focuses on the discovery, manufacturing, and marketing of medical devices used to screen, diagnose, and monitor therapies. The company operates in the breast cancer liquid biopsy market through its molecular diagnostics segment. The company geographically operates in Europe, the Middle East and Africa, North America, Asia Pacific, and Latin America.
Illumina ranked third in the Liquid Biopsy in Breast Cancer Market in 2017. The company provides sequencing and array-based solutions for genetic analysis. The company develops, manufactures, and markets integrated systems and life science tools for the analysis of genetic variation and biological function. The company operates in the breast cancer liquid biopsy market through its spinoff company “GRAIL Inc.”.
Some of the major market players in the Liquid Biopsy in Breast Cancer Market are QIAGEN N.V. (Netherlands), Roche Diagnostics (US), Bio-Rad Laboratories (US), Myriad Genetics (US), Menarini Silicon Biosystems (Italy), Illumina (US), Cynvenio Biosystems, Inc. (US) Genomic Health, Inc. (US), Thermo Fisher Scientific Inc. (US), Fluxion Biosciences, Inc. (US), Biodesix, Inc. (US), Guardant Health, Inc. (US), and Isogen Life Science B.V. (Netherlands).
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North America accounted for the largest share of the breast cancer liquid biopsy market in 2017, followed by Europe. A number of factors such as the easy accessibility and high adoption of advanced diagnostic technologies (such as PCR and NGS) among healthcare professionals, rising prevalence of breast cancer in the US and Canada, technological advancements in breast cancer liquid biopsy products, and growing public and private funding to support research activities in the field of liquid biopsy are aiding market growth in the region.
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