South and Central America Blood Collection Tubes for Liquid Biopsy Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (ccfDNA Tubes, cfRNA Tubes, CTC Tubes, gDNA Tubes, Intracellular RNA Tubes, and Others), Material (Glass and Plas

South and Central America Blood Collection Tubes for Liquid Biopsy Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (ccfDNA Tubes, cfRNA Tubes, CTC Tubes, gDNA Tubes, Intracellular RNA Tubes, and Others), Material (Glass and Plastic), Application (In-Vitro Diagnostics (IVD) and Research), and End User (Genetic Diagnostic Labs, R&D Centres, Conventional Diagnostic Centres, and Others)

The South and Central America blood collection tubes for liquid biopsy market is expected to reach US$ 8,046.87 thousand by 2028 from US$ 2,837.28 thousand in 2021; it is estimated to grow at a CAGR of 16.1% from 2021-2028. The growth of the market is due to increasing prevalence of cancer worldwide and rising demand for minimally invasive diagnostic tests. However, lack of skilled professionals leading to inaccurate blood collection tubes for liquid biopsy analysis is expected to restrict the market growth during the forecast period.

Health systems globally are witnessing a substantial increase in the prevalence of cancer. According to the World Health Organization, cancer is the second-leading cause of mortality worldwide. According to the International Agency for Research on Cancer (IARC), the global cancer burden has increased to 19.3 million cases and 9.96 million cancer deaths by 2020. According to the data published by the World Health Organization (WHO), in 2019, around 9.6 million deaths were caused by cancer globally. Moreover, according to the same data, prostate, lung, colorectal, liver, and stomach cancer are most observed in men, while breast, colorectal, and cervical cancer are the most common among women.

Furthermore, according to a study published by the National Cancer Institute, in 2021, the incidence of cancer in the US likely reached 1.9 million. In addition, around 0.6 million people were anticipated to die in 2021 in the US due to cancer.

Liquid biopsies are used for diagnosing non-small cell lung cancer (NSCLC) and screening or as a companion diagnostic for other types of cancers such as colorectal, breast, gastrointestinal, prostate, and ovarian. Early prognosis, reduced cost, therapy monitoring, acquired drug resistance, detection of tumor heterogeneity, and patient comfort are benefits of liquid biopsy over traditional cancer diagnostics approaches (by eliminating the need for surgery). As a result, the preference for liquid biopsy increases parallelly with the rise in cancer prevalence. As a result, blood collection tubes for liquid biopsy contribute to the organization's strategy to detect cancer early and precisely, allowing for quick treatment and enhancing cancer patients' survival rates, thereby boosting the growth of the South and Central America blood collection tubes for liquid biopsy market. The factors mentioned above boost the growth of the North America blood collection tubes for liquid biopsy market.

In South and Central America, the increased number of COVID-19 cases in Brazil, Peru, Chile, Ecuador, and Venezuela created a negative impact on the market. According to the International Council of Nurses, due to high virus transmission, the number of mortalities among health professionals in Brazil was higher than in other nations. As Brazil had many populated areas and regions with small houses with 6-7 people per house, the virus had spread like wildfire. The South And Central American countries increased their clinical programs to fight against the COVID-19 pandemic.

Hence, the COVID-19 pandemic negatively impacted the market owing to disruptions in the supply chain of medical devices and increased emphasis of medical devices companies to manufacture PPE kits, gloves, masks, and other infection protection kits, which has affected the market growth.

The South and Central America blood collection tubes for liquid biopsy market, based on product, has been classified into ccfDNA tubes, cfRNA tubes, CTC tubes, gDNA tubes, intracellular RNA tubes, and others. The ccfDNA segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR during the forecast period.

The South and Central America blood collection tubes for liquid biopsy market, based on material, is segmented into glass and plastic. In 2021, the plastic segment held a larger share of the market. However, the glass segment is expected to witness growth in demand at a faster CAGR from 2021 to 2028, owing to the rise in the detection and diagnosis of various medical conditions globally.

The South and Central America blood collection tubes for liquid biopsy market, based on application, is segmented into In-vitro diagnostics (ivd), and research. In 2021, the In-Vitro diagnostics segment is likely to hold a larger share of the market. Moreover, the segment is expected to witness growth in demand at a faster CAGR from 2021 to 2028, owing to the rise in the detection and diagnosis of various medical conditions globally.

A few of the primary and secondary sources referred to while preparing the report on the South and Central America blood collection tubes for liquid biopsy market are American Association for Cancer Research (AACR) and Pan American Health Organization (PAHO).

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