According to a new report published by Allied Market Research, titled, “Breast Cancer Liquid Biopsy Market by Product & Service, Circulating Biomarker, and Application: Opportunity Analysis and Industry Forecast, 2019–2027,” the global breast cancer liquid biopsy market was valued at $87,641 thousand in 2019, and is projected to reach $357,051 thousand by 2027, registering a CAGR of 19.2% from 2019 to 2027.
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Covid – 19 impact on Breast Cancer Liquid Biopsy Market
COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. This COVID-19 pandemic has affected breast cancer liquid biopsy reagent kits production and import & export of raw material and finished goods, owing to shutdowns in various COVID-19-affected countries. Temporary disruptions of inputs or production might stress some companies, particularly those with inadequate liquidity. Moreover, delayed shipments & production schedules create financial problems for companies with heavy debts. This, in turn, has limited the impact of COVID-19 on the market.
Key Findings Of The Study
- By product & service, the reagent kits segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
- On the basis of circulating biomarker, the circulating tumor cell segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
- According to application, the diagnostics segment exhibits fastest growth, and is expected to grow at a CAGR of 20.2% from 2019 to 2027.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 20.7% during the forecast period.
North America accounted for the largest share of the global breast cancer liquid biopsy market in 2019, and is expected to remain dominant throughout the forecast period. This was attributed to increase in prevalence of breast cancer and higher number of R&D activities to develop novel breast cancer liquid biopsy reagent kits. Moreover, large number of target population with higher health awareness, availability of trained medical professionals, and rise in investments by leading market players and hospitals are other factors that fuel growth of the market.
Key Market Segments
- By Application
- Risk assessment
- By Circulating Biomarker
- Circulating Tumor Cells
- Extracellular Vesicles
- Circulating Tumor DNA
- By Product Services
- Reagent Kits
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