At 17.3% CAGR, Middle East & Africa Blood Collection Tubes for Liquid Biopsy Market is Projected to be Worth US$ 9,859.41 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa blood collection tubes for liquid biopsy market was valued at US$ 2,753.47 million in 2023 and is expected to reach US$ 9,859.41 million by 2031, registering a CAGR of 17.3% from 2023 to 2031. Increase in prevalence of cancer and advantages of liquid biopsy over other diagnostic testing techniques are among the critical factors attributed to drive the Middle East & Africa blood collection tubes for liquid biopsy market growth.

Health systems across the world are witnessing an exponential increase in the prevalence of cancer. The World Health Organization (WHO) ranks cancer as the second-leading cause of mortality worldwide. According to data published by the World Cancer Research Fund International, ~20 million new cases of cancer were registered in 2022 globally. Moreover, as per the data published by the World Health Organization (WHO), nearly 10 million deaths were caused by cancer in 2020 across the world. Early prognosis, tumor heterogeneity detection, reduced cost, and patient comfort are a few of the advantages of liquid biopsy over other cancer diagnostics approaches. Thus, the preference for liquid biopsy, allowing for quick treatment and enhancing cancer patients' survival rates, is increasing with the rise in cancer prevalence during the projection period. Blood collection tubes that are used in liquid biopsy play an instrumental role in the early and precise cancer detection strategies of various organizations. Thus, the increasing prevalence of cancer is contributing significantly to the growth of the Middle East & Africa blood collection tubes for liquid biopsy market.

On the contrary, lack of skilled professionals hampers the growth of Middle East & Africa blood collection tubes for liquid biopsy market.

By product, the Middle East & Africa 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 32.7% share of Middle East & Africa blood collection tubes for liquid biopsy market share in 2023, amassing US$ 900.31 million. It is projected to garner US$ 3,295.18 million by 2031 to register 17.6% CAGR during 2023–2031.

In terms of material, the Middle East & Africa blood collection tubes for liquid biopsy market is segmented into plastic and glass. The plastic segment held 64.1% share of Middle East & Africa blood collection tubes for liquid biopsy market share in 2023, amassing US$ 1,764.65 million. It is projected to garner US$ 6,480.06 million by 2031 to register 17.7% CAGR during 2023–2031.

By application, the Middle East & Africa blood collection tubes for liquid biopsy market is segmented into in-vitro diagnostics (IVD) and Research. The in-vitro diagnostics (IVD) segment held 65.9% share of Middle East & Africa blood collection tubes for liquid biopsy market share in 2023, amassing US$ 1,815.23 million. It is projected to garner US$ 6,593.80 million by 2031 to register 17.5% CAGR during 2023–2031.

Based on end user, the Middle East & Africa 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 33.6% share of Middle East & Africa blood collection tubes for liquid biopsy market share in 2023, amassing US$ 925.91 million. It is projected to garner US$ 3,456.49 million by 2031 to register 17.9% CAGR during 2023–2031.

Based on country, the Middle East & Africa blood collection tubes for liquid biopsy market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that South Africa captured 34.6% share of Middle East & Africa blood collection tubes for liquid biopsy market in 2023. It was assessed at US$ 951.60 million in 2023 and is likely to hit US$ 3,559.25 million by 2031, registering a CAGR of 17.9% during 2023–2031.

Key players operating in the Middle East & Africa 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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