PUBLISHER: The Insight Partners | PRODUCT CODE: 1558416
PUBLISHER: The Insight Partners | PRODUCT CODE: 1558416
According to our new research study on "Blood Collection Tubes for Liquid Biopsy Market Forecast to 2031 - Global Analysis - by Product, Application, Material, End User, and Geography," the market is anticipated to grow from US$ 110.13 million in 2023 and is projected to reach US$ 428.66 million by 2031; it is expected to register a CAGR of 18.5% during 2023-2031. An increase in the prevalence of cancer worldwide and the advantages of liquid biopsy over other diagnostic testing techniques are among the most influential factors responsible for the blood collection tubes for liquid biopsy market growth. However, a lack of skilled professionals hinders the market growth. Technological advancements in liquid biopsy are expected to bring new blood collection tubes for liquid biopsy market trends in the coming years.
Blood Collection Tubes for Liquid Biopsy are among the most promising avenues in the pharmaceutical industry, offering a unique approach to treating various diseases and medical conditions. The blood collection tubes for liquid biopsy market is constantly growing because pharma and biotechnology companies enormously invest in improving their production facilities. The increasing number of cases and diagnoses of chronic diseases requires the availability of sophisticated diagnostic and treatment drugs, which has boosted the global blood collection tubes for liquid biopsy market. Furthermore, rising demand, higher acceptance of innovative therapies, and increasing clinical trials are expected to drive market growth. However, approving biosimilars is one of the main aspects limiting the blood collection tubes for liquid biopsy market expansion.
North America accounted for a major share of the global blood collection tubes for liquid biopsy market in 2023. The blood collection tube for liquid biopsy market in North America is segmented into the US, Canada, and Mexico. The burgeoning acceptance of technologically advanced products, a rise in research and development activities, the presence of large-scale healthcare businesses, and the increasing number of approvals from the FDA for liquid biopsy are among the key factors bolstering the blood collection tube for liquid biopsy market in North America. The market for liquid biopsy procedures is growing rapidly in the US with the surging prevalence of cancer, high spending on the development of innovative diagnostics solutions, and the presence of significant market players in the country. The National Cancer Institute estimates that ~2 million new cases of cancer would be registered in the US in 2024, and ~611,720 people are expected to die due to cancer. As per the same source, ~440.5 per 100,000 people are nearly diagnosed with cancer every year. Tissue biopsies are highly invasive techniques employed for lung cancer diagnosis. As the insufficiency of samples may result in nonreliable results in this type of biopsy, researchers focus on the development of liquid biopsy techniques for lung cancer diagnoses. In December 2022, Agilent Technologies Inc. received approval from the US FDA for Agilent Resolution ctDx FIRST as a companion diagnostics (CDx) solution to identify advanced non-small cell lung cancer (NSCLC) patients with KRAS G12C mutations, who may benefit from the KRAZATI (adagrasib) treatment. Such approvals from the US FDA of liquid biopsy tests would propel the demand for blood collection tubes for liquid biopsy in the US.
Use of Liquid Biopsy in Cancer Monitoring to Provide Market Opportunities in Future
There is a growing focus on employing liquid biopsy procedures for monitoring cancer growth, detecting genetic mutations, identifying signs of relapse, and predicting sensitivity to immunotherapy. The early detection of cancer results in better outcomes; for example, patients with early detection show higher remission and survival rates than those with late-stage or malignant cancer. However, it is impractical to perform serial radiological testing or invasive procedures for cancer surveillance to detect cancer in the early stages when symptoms are not evident. Liquid biopsy unlocks the possibility of periodic cancer screening through routine blood draws or urinalyses. It can identify highly specific and circulating markers for early cancer detection.
Liquid biopsy procedures are also employed for post-treatment monitoring of cancer patients. Cancer cells may persist in the body after treatment at levels below the resolution and detection levels of imaging studies; the condition is termed a minimal residual disease. This disease is considered a principal cause of cancer remission. Similar to that in cancer screening and early detection, the clinical application of liquid biopsy is limited by the sensitivity and specificity of current tests. However, due to this sensitivity limitation, liquid biopsy techniques can be used for detecting minimal residual disease for solid tumors than blood cancers. With the help of liquid biopsy, the healthcare professional can monitor the case of reoccurrence of cancer, which can then be treated early with the help of proper diagnosis.
Tumors that are initially susceptible to specific tyrosine kinase inhibitors, including gefitinib, erlotinib, crizotinib, and ceritinib, often mutate and develop resistance to these drugs. Liquid biopsy detects the changes in the tumor status and helps doctors modify the treatment strategies to avoid the development of resistance to any medication in the patient's body. Thus, liquid biopsy allows the early detection of cancer and helps healthcare professionals determine the exact course of action for treatment. In addition, it helps monitor treatments and the condition of the patient after the treatment. Thus, there is an increase in focus on the use of liquid biopsy in the monitoring of cancer patients, which is likely to create a significant demand for blood collection tubes for liquid biopsy procedures during the forecast period.
Product -Based Insights
Based on product, the blood collection tubes for liquid biopsy market is divided into ccfDNA tubes, cfRNA tubes, CTC tubes, gDNA tubes, intracellular RNA tubes, and others. The ccfDNA/cfDNA tubes segment held the largest market share in 2023.
Material -Based Insights
Based on material, the blood collection tubes for liquid biopsy market is divided into glass and plastic.
Application -Based Insights
The global blood collection tubes for liquid biopsy market, based on appplication is segmented into In-Vitro Diagnostics (IVD), and research. In 2023, the in-vitro diagnostics segment is likely to hold a larger share of the market.
End User -Based Insights
Based on end user, the blood collection tubes for liquid biopsy market is divided into genetic diagnostic labs, R&D centers, conventional diagnostic centers, and others.
Blood Collection Tubes for Liquid Biopsy Market: Competitive Landscape and Key Developments
Biocept Inc, F. Hoffmann-La Roche Ltd; Streck Inc; Norgen Biotek Corp; Exact Sciences Corp; MagBio Genomics, Inc; Zymo Research Corporation; Apostle Sciences; QIAGEN NV; and Greiner Bio-One International GmbH are among the key companies operating in the blood collection tubes for liquid biopsy market.
The US Food and Drug Administration, Centers for Disease Control and Prevention (CDC), and Global Burden of Disease Study are among the primary and secondary sources referred to while preparing the blood collection tubes for liquid biopsy market report.