Rising Demand for Highly Precise Diagnostic Assay Products Surging Growth of Blood Collection Tubes for Liquid Biopsy Manufacturers
Published : 10 Mar 2021 Industry: Healthcare
Blood collection tubes for liquid biopsy are essential diagnostic products for laboratory biopsy testing. These liquid biopsy tubes provide accuracy and precision, safety, speed, and ease-of-use in diagnostic processes. These tubes offer a complete, efficient, and streamlined workflow to empower liquid biopsy research. From collection through analysis, these tubes and associated kits help gain deep insights into cfDNA, CTCs, and exosomes in blood samples.
Rising advancements in the field of biotechnology have enabled the establishment of several non-invasive approaches for disease diagnosis. Increasing surgical procedures across the world is creating huge opportunity for revenue growth of the blood collection tubes market. According to a UN report, the geriatric population in 2019 was 702.9 Mn, with Eastern and South-Eastern Asia having the highest numbers, followed by Europe and North America. This huge rise in the geriatric population is leading to a rise in the number of surgeries, thereby catalysing demand for blood collection tubes for liquid biopsy.
The global blood collection tubes for liquid biopsy market is estimated to be valued at US$ 25.8 Mn in 2020, with the market expected to exhibit a CAGR of around 12% over the forecast period (2020-2030).
Key Takeaways from Market Study
- ccfDNA isolation kits are anticipated to gain maximum revenue share over the forecast period, and the segment is projected to expand at a CAGR of 10.5% during the forecast period.
- By material, the plastic segment is expected to hold a share of 68% in 2020, and expand at a significant CAGR of around 15% through 2030.
- By application, the IVD segment is expected to hold maximum revenue share of 73.4% in 2020.
- Among the end users, genetic diagnostic labs were the dominant segment in in 2020.
- The market in China is expected to surge ahead at a mammoth CAGR of over 22% from 2020 to 2030.
- Europe and North America are leading regions in the global blood collection tubes for liquid biopsy market, with a revenue share of approximately 76%. The COVID-19 pandemic has had a slight adverse impact on the market, majorly due to halt in research & development activities across the globe.
“Increasing research & development activities are expected to boost demand for blood collection tubes for liquid biopsy. On the other hand, there is rising population of cancer patients, and therefore, requirement for highly sensitive and precise diagnostic for better treatment solutions is increasing,” says a Fact.MR analyst.
New Product Launches - Key Strategy by Market Players
New product launches and strategic collaborations are key strategies expected to be followed by major players to expand globally. New product launches at comparative lower cost in emerging countries are expected to surge demand. Increasing R&D by key players is expected to grow the product line in the market.
Key Market Participants
Key market players covered by Fact.MR in the report are is Roche, Streck, Preanalytix, Norgen Biotek, Biocept, Biomatrica, and INVITEK MOLECULAR GMBH (NUVISAN GmbH/STRATEC GROUP). Strategies adopted by these key players for global expansion are largely product launches and mergers & acquisitions. There have been a few strategic partnerships among leading players to enhance the supply chain and logistics.
- For instance, in July 2018, Diversigen Incand and Norgen Biotek Corp. announced that they have entered into a strategic partnership, through which, industry and academic researchers will benefit from comprehensive end-to-end logistical, sequencing, and analytical solutions, to meet the growing need for microbiome analyses.
Also, there have been collaborations among leading players to gain FDA approval of products.
- For example, in January 2020, Biodesix, Inc. and Streck, Inc. announced a Regulatory Cooperation Agreement that will further enable both companies in their pursuit of FDA approval for diagnostic testing services and specimen collection products.
Looking for more information?
Fact.MR brings a comprehensive research report on forecast revenue growth at global, regional, and country levels, which provides an analysis of the latest industry trends in each of the segments and sub-segments from 2015 to 2030. The global blood collection tubes for liquid biopsy market is segmented in detail to cover every aspect of the market, and present a complete market intelligence approach to the reader. The study provides compelling insights on the basis of a product (ccfDNA tubes, ccfDNA isolation kits, cfRNA Tubes, ccfRNA isolation kits, CTC tubes, gDNA tubes, gDNA isolation kits, intracellular RNA tubes, intracellular RNA kits, and NIPT), material (glass and plastic), application (IVD and research) and end user (R&D centres, genetic diagnostic labs, and conventional diagnostic centres), across seven major regions of the world.
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Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Shambhu Nath Jha
Sr. Consultant – Healthcare