The Global Bacterial & Viral Specimen Collection Market, by Product Type (Bacterial Specimen Collection (Swabs, Bacterial Transport Media, Sample Collection Kits, and Others) and Viral Specimen Collection (Swabs, Viral Transport Media, Sample Collection Kits, and Others), by Application (Diagnostics and Research), by End User (Hospitals, Diagnostic Laboratories, Academic and Research Institution, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 17,667.8 Million in 2021 and expected to exhibit a CAGR of 13.6% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Increasing research and development activities is expected to drive the global bacterial & viral specimen collection market growth over the forecast period. For instance, in April 2020, researchers from the Centre for Materials for Electronics Technology (C-MET), a Pune-based (India) government research organization, developed a low cost polymer swab for the collection of nasal secretions to diagnose COVID-19.
Global Bacterial & Viral Specimen Collection Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and its consequent lockdown in various countries have negatively impacted the financial status of businesses across all sectors. The COVID-19 pandemic has also impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions.
However, the demand for bacterial and viral specimen collection products is expected to increase during the COVID-19 pandemic, owing to rising number of COVID-19 cases and increasing focus of market players on launching and receiving regulatory approvals for developing safe and effective COVID-19 specimen collection kits and others. For instance, in May 2020, Innovation Lab of the Aga Khan University, Pakistan, an innovation center, developed a low cost, indigenous, 3-D printed prototype of nasal swab for detecting SARS-CoV-2. This development would aid the country in meeting the growing demand for innovative diagnostics for COVID-19 amidst a surge in coronavirus cases. The clinical trials for this 3-D printed nasal swab were completed in November 2021 and showed positive outcomes for its safety and efficacy.
Browse 41 Market Data Tables and 30 Figures spread through 228 Pages and in-depth TOC on “Bacterial & Viral Specimen Collection Market” - Global Forecast to 2028, Global Bacterial & Viral Specimen Collection Market, by Product Type (Bacterial Specimen Collection (Swabs, Bacterial Transport Media, Sample Collection Kits, and Others) and Viral Specimen Collection (Swabs, Viral Transport Media, Sample Collection Kits, and Others), by Application (Diagnostics and Research), by End User (Hospitals, Diagnostic Laboratories, Academic and Research Institution, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Bacterial & Viral Specimen Collection Market, click the link below:
The increasing adoption of inorganic strategies such as acquisitions and collaborations by the key players is expected to aid in the global bacterial and viral specimen collection market growth over the forecast period. For instance, in September 2021, Pretium Packaging L.L.C., a U.S.-based supplier of rigid packaging solutions, entered into an acquisition agreement with Alpha Consolidated Holdings, Inc., a U.S.-based plastic bottle manufacturer providing packaging solutions to customers in various sectors such as home and personal care, health and wellness, specialty food and beverage, and others.
Key Takeaways of the Global Bacterial & Viral Specimen Collection Market:
- The global bacterial & viral specimen collection market is expected to exhibit a CAGR of 13.6% during the forecast period, due to increasing product approvals by regulatory bodies. For instance, in December 2021, HiGenoMB, HiMedia’s molecular biology division, received CE-IVD certification from the regulatory authority body European Economic Area (EEA) for its two COVID-19 detection kits: Hi-PCR COVID-19 Triplex Probe PCR Kit (MBPCR255) and Hi-PCR COVID-19 Detection Kit-Dry Swab method (MBT189).
- Among end users, the hospital segment is estimated to account for the largest market share in the global bacterial & viral specimen collection market in 2021, owing to the increasing prevalence of bacterial infections and hospital admissions for its treatment. For instance, according to the data published by the World Health Organization (WHO) in October 2021, around 1.5 million people died from TB in 2020 (including 214,000 people with HIV) worldwide. According to the same source, in 2020, an estimated 10 million people suffered from tuberculosis (TB) worldwide, including 5.6 million men, 3.3 million women, and 1.1 million children.
- On the basis of regions, North America is estimated to account for the largest market share in the global bacterial & viral specimen collection market in 2021, owing to increasing approvals for bacterial & viral specimen collection transport medium by regulatory bodies. For instance, in November 2021, Wuxi NEST Biotechnology Co., Ltd., a research-based manufacturer of cell culture vessels, PCR consumables, general laboratory consumables, plastic consumables, and others, received the U.S. Food and Drug Administration (FDA) 510k clearance for its disposable sampler Inactivated Transport Media, available in two volumes: 5 ml and 10 ml.
- Major players operating in the global bacterial & viral specimen collection market include Thermo Fisher Scientific Inc., Quidel Corporation, Puritan Medical Products, Becton, Dickinson and Company, COPAN Diagnostics Inc., Longhorn Vaccines and Diagnostics LLC, Medical Wire & Equipment, Trinity Biotech PLC, HiMedia Laboratories Pvt. Ltd., Hardy Diagnostics, Wuxi NEST Biotechnology Co., Ltd., VIRCELL S.L., DiaSorin S.P.A., Titan Biotech Ltd., Pretium Packaging L.L.C., and Spectrum Solutions L.L.C.
