Dublin, June 22, 2022 (GLOBE NEWSWIRE) — The “Middle East Liquid Biopsy Market – Country Analysis: Focus on Product, Technology, Indication, Sample, Workflow, Circulating Biomarker, Usage, and Country Data – Analysis and Forecast, 2022-2032” report has been added to ResearchAndMarkets.com’s offering.
In 2021, the Middle East liquid biopsy market was valued at $43.7 million, and it is expected to reach $175.2 million by 2032, growing at a CAGR of 13.68% during the forecast period 2022-2032.
The Middle East liquid biopsy market is expected to witness high growth due to the rising incidence of cancer, the increasing fund infusions for conducting research to discover novel biomarkers, and the growing emphasis on the use of non-invasive methodologies for performing a liquid biopsy.
The constant significant investments by healthcare companies to meet industry demand and the increasing adoption of liquid biopsy among major end users are significant factors propelling the growth of the Middle East liquid biopsy market.
The presence of major service providers of liquid biopsy products in the Middle East region has a significant impact on the market. For instance, Illumina, Inc. provides NovaSeq 6000 S2, Reagent Kit, NovaSeq 6000 S4 reagent kit, and NovaSeq Xp 4-lane kit in the Middle East.
Companies such as F. Hoffmann-La Roche Ltd offer FoundationOne Liquid. It is a U.S. Food and Drug Administration-approved product that assesses guideline-recommended genes from a simple blood draw method. It is the only FDA-approved blood-based test that analyzes more than 300 genes. The presence of such products has a positive impact on market growth.
Impact of COVID-19
The COVID-19 pandemic had a high impact on the growth and revenue generated from the market. The current market assessment has considered information provided by key opinion leaders in the market from both supply and demand sides. Although manufacturers have witnessed low-scale losses due to decreased demand, the losses incurred for the first two quarters of FY2020-2021 are anticipated to be compensated by higher demands in the following two quarters in FY2021.
However, the industry is still expected to be impacted significantly during the period 2020-2022. The low influx of cancer patients in hospitals and diagnostic laboratories has massively impacted the sales of Exact Sciences’ Cologuard test. In 2020, Exact Sciences Corporation was the market leader in the non-invasive liquid biopsy ecosystem, having a 74.31% share in the Middle East liquid biopsy market.
Some respondents also stated that they had to delay their product launches due to the ensuing restrictions, which massively impacted market growth. Nevertheless, they are still planning to launch the respective products within theFY2021. As of the current situation, strategies to bolster sales in the last two quarters in order to negate the impact of the COVID-19 pandemic invariably include aggressive marketing and discounted prices offered for existing portfolios.
It is expected that, with the restrictions gradually being removed from several regions around the world, coupled with research activities resuming normalcy, the market will face a low impact on the annual revenue generation.
Technology (Polymerase Chain Reaction (PCR), Next-Generation Sequencing (NGS), Fluorescence In-Situ Hybridization (FISH), Other Technologies)
The Middle East liquid biopsy market (by technology) was dominated by the next-generation sequencing (NGS) segment in 2021. The highest share of NGS can be attributed to an increase in demand for oncology assessment. This is due to the increasing prevalence of cancer, and due to this, the major share of liquid biopsy is expected to be held by NGS.
Workflow (Sample Preparation, Library Preparation, Sequencing, Data Analysis)
In 2021, the library preparation segment dominated the Middle East liquid biopsy market (by workflow) due to an increasing number of patients suffering from cancer. According to the data published by the World Health Organization, cancer is a leading cause of death, with nearly 10 million deaths reported in 2020.
Usage (Research Use Only (RUO), Clinical)
The Middle East liquid biopsy market (by usage) was dominated by the research use only segment in 2021. This growth was attributed to the academic research and industry collaboration in the Middle East region. Moreover, the technological advancement in RUO products is boosting the growth of the Middle East liquid biopsy market.
Sample (Blood, Urine, Saliva, Cerebrospinal Fluid)
In 2021, the Middle East liquid biopsy market (by sample) was dominated by the blood segment owing to an increasing number of patients suffering from different cancers.
Circulating Biomarker (Circulating Tumor Cells (CTCs), Cell-Free DNA (cfDNA), Circulating Cell-Free RNA, Exosomes and Extracellular Vesicles, Other Circulating Biomarkers)
The Middle East liquid biopsy market (by circulating biomarker) in 2021 was dominated by the cell-free DNA segment due to an increasing number of research studies pertaining to liquid biopsy segment.
Product (Tests/Services, Kits and Consumables, Instruments)
The tests/services segment dominated the Middle East liquid biopsy market (by product) in 2021 due to the continued significant investments by healthcare companies to meet industry demand for tests/services, and the growing adoption of liquid biopsy tests among major end users were the key factors propelling the growth of the segment.
Country (K.S.A., Israel, Egypt, U.A.E., Iran, Qatar, Rest-of-the-Middle East)
The K.S.A. generated the highest revenue of $13.5 million in 2021, which is attributed to the R&D advancements in the field of single-cell analysis and the presence of dominating players operating in the Middle East liquid biopsy market.
How Can This Report Add Value to An Organization?
Growth/Marketing Strategy: The Middle East liquid biopsy market has been dominated significantly by companies such as QIAGEN N.V., PerkinElmer, Inc., F. Thermo Fisher Scientific Inc., and Hoffmann-La Roche Ltd., due to their expansive portfolio and strong geographical presence across the world.
Many companies such as Agilent Technologies, Inc., Thermo Fisher Scientific Inc., PerkinElmer, Inc., Beckman Coulter, Inc. (Danaher Corporation), Illumina, Inc., and Bio-Rad Laboratories, Inc. lie in the low growth and low market share segment.
Most key market players in the Middle East liquid biopsy market are categorized under the low growth and low market share segment. The low market share of these companies is primarily due to limited products with respect to the Middle East liquid biopsy market in comparison to other segments of these companies. Also, the lack of synergistic activities with respect to the market is responsible for the low growth of these companies.
- Liquid Biopsy Demand Inclined by Rising Prevalence of Cancer
- Rise in Patient Preference for Non-Invasive Cancer Diagnosis
- Potential of Liquid Biopsy
- False Negatives and Positives
- Existing Diagnostic Confidence in Conventional Tissue-Based Diagnosis Practices
- Potential Cost Savings
- Amalgamation of Artificial Intelligence (AI) with Non-Invasive Liquid Biopsy
Key Market Players and Competition Synopsis
- Bio-Rad Laboratories, Inc.
- Bioscience Institute S.p.A.
- Eurofins Scientific
- F. Hoffmann-La Roche Ltd
- Guardant Health
- Illumina, Inc.
- Natera, Inc.
- NeoGenomics Laboratories, Inc.
- PerkinElmer Inc.
- QIAGEN N.V.
- Sysmex Corporation
- Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/st5pv1
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager <a href="mailto:email@example.com">firstname.lastname@example.org</a> For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900