At 18.7% CAGR, Europe Blood Collection Tubes for Liquid Biopsy Market is Projected to be Worth US$ 1,21,742.27 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe blood collection tubes for liquid biopsy market was valued at US$ 30,949.00 million in 2023 and is expected to reach US$ 1,21,742.27 million by 2031, registering a CAGR of 18.7% from 2023 to 2031. Use of liquid biopsy in cancer monitoring and advantages of liquid biopsy over other diagnostic testing techniques are among the critical factors attributed to drive the Europe blood collection tubes for liquid biopsy market growth.

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.

On the contrary, lack of skilled professionals hampers the growth of Europe blood collection tubes for liquid biopsy market.

By product, the Europe blood collection tubes for liquid biopsy market is segmented into ccfDNA/cfDNA Tubes, cfRNA Tubes, CTC Tubes, gDNA Tubes, Intracellular RNA Tubes, and others. The ccfDNA/cfDNA Tubes segment held 32.9% share of Europe blood collection tubes for liquid biopsy market share in 2023, amassing US$ 10,193.95 million. It is projected to garner US$ 40,887.57 million by 2031 to register 19.0% CAGR during 2023–2031.

In terms of material, the Europe blood collection tubes for liquid biopsy market is segmented into plastic and glass. The plastic segment held 65.7% share of Europe blood collection tubes for liquid biopsy market share in 2023, amassing US$ 20,336.55 million. It is projected to garner US$ 81,426.24 million by 2031 to register 18.9% CAGR during 2023–2031.

By application, the Europe blood collection tubes for liquid biopsy market is segmented into in-vitro diagnostics (IVD) and Research. The in-vitro diagnostics (IVD) segment held 65.1% share of Europe blood collection tubes for liquid biopsy market share in 2023, amassing US$ 20,157.63 million. It is projected to garner US$ 81,590.11 million by 2031 to register 19.1% CAGR during 2023–2031.

Based on end user, the Europe blood collection tubes for liquid biopsy market is segmented into genetic diagnostic labs, research and development centers, conventional diagnostic centers, and others. The genetic diagnostic labs segment held 35.8% share of Europe blood collection tubes for liquid biopsy market share in 2023, amassing US$ 11,069.09 million. It is projected to garner US$ 45,281.49 million by 2031 to register 19.3% CAGR during 2023–2031.

Based on country, the Europe blood collection tubes for liquid biopsy market is categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 27.7% share of Europe blood collection tubes for liquid biopsy market in 2023. It was assessed at US$ 8,585.25 million in 2023 and is likely to hit US$ 34,971.51 million by 2031, registering a CAGR of 19.2% during 2023–2031.

Key players operating in the Europe blood collection tubes for liquid biopsy market are Biocept Inc; Exact Sciences Corp; F. Hoffmann-La Roche Ltd; Greiner Bio-One International GmbH; MagBio Genomics, Inc; Norgen Biotek Corp; QIAGEN NV; Streck Inc; and Zymo Research Corporation, among others.

• In November 2022: Exact Science Corporation announced a new venture Baltimore, Maryland.-based Haystack Oncology, recently raised $56 million in funding led by New York-based investment firm Catalio Capital Management. Haystack is developing a blood test that its founders say can detect trace amounts of circulating DNA from solid tumors, which can indicate the presence of cancer and its possible recurrence.

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