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Global Virology Specimen Collection Market Size was valued at USD 5.6 Billion in 2022. The Virology Specimen Collection market Product Type is projected to grow from USD 6.2 Billion in 2023 to USD 9.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.40% during the forecast period (2023 - 2032). To reduce the danger of virus transmission, the government is increasing financing, encouraging the use of swabs, approving specimen collection kits from regulatory bodies, and seeing an increase in demand for at-home kits, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The rising prevalence of viral illnesses like AIDS, the flu, SARS-CoV-2, EBOLA, STDs, and the Zika virus is one of the key drivers boosting the demand for effective virology specimen collection. According to predictions from the globe Health Organization (WHO), there will be 37.7 million HIV-positive people in the globe at the end of 2020. Over two-thirds (25.4 million) of these people resided in the WHO African Region. A total of 1.5 million (1.0-2.0 million) persons became ill with HIV in 2020, while 680,000 people died from HIV-related causes. In addition, the World Health Organization (WHO) revealed in July 2021 that there were allegedly 7 million new cases of syphilis globally year 2020. According to data issued by the World Health Organization (WHO) in November 2021, more than 1 million STIs are contracted every day worldwide. After that, it's anticipated that the market for virology specimen collection would continue to grow.
Antigen tests are likely to become more widely used as they overcome timing and capacity gaps in the testing landscape, leading to an increase in the use of nasopharyngeal (NP) swabs. In recent months, the emergence of COVID-19's contagious Delta variant has further increased the demand for tests. For instance, in collaboration with the Department of Health and Human Services (HHS), the US Department of Defence granted a contract of USD 51 million to Puritan Medical Products (US) in August 2020. By March 2021, the business hopes to boost its monthly capacity of flock tip testing swabs to 50 million swabs, which will make coronavirus testing easier.
Additionally, it is projected that the primary forces behind the market's rise would be the increasing prevalence of viral infections and the emergence of novel pathogens. According to predictions from the World Health Organization (WHO), 60% of people worldwide were expected to be impacted by infectious diseases in 2021. The growing prevalence of viral illnesses such the human immunodeficiency virus (HIV), influenza, Ebola, Zika virus, and other STDs has raised the demand for virology specimen collecting. According to a January 2021 update from the World Health Organization (WHO), 38.4 million persons had the HIV virus. Similar to this, a Food and Agriculture Organization (FAO) report published in January 2022 noted that China had 13 new cases of the avian influenza virus while the UK had 5. The rising prevalence of viral diseases and the emergence of new viral infections have raised the demand for virology specimen collections, which will propel the market's growth over the coming years. This is due to the effective identification and treatment of viral illnesses. Thus, driving the Virology Specimen Collection market revenue.
The global Virology Specimen Collection market segmentation, based on Product Type, includes swabs, viral transport media, blood collection kits, and others. Swabs segment dominated the global market in 2022. Small pieces of soft material called swabs are used to clean incisions, collect a small amount of bodily fluid for testing, or both. Sterile swabs can be packaged in bulk or individually to collect upper respiratory specimens, according to the Centers for Disease Control and Prevention (CDC).
The global Virology Specimen Collection market segmentation, based on Application, includes diagnostics and research. Diagnosis segment dominated the global market in 2022. In order to diagnose the ailment based on the patient's symptoms and signs, samples can be obtained from the patient's nose using an authorized self-collection kit that includes nasal swabs and saline.
The global Virology Specimen Collection market segmentation, based on End User, includes hospitals & clinics, diagnostic centers, and others. Laparoscopic cholecystectomy segment dominated the global Virology Specimen Collection market in 2022. This is because there are more patients with respiratory virus infections and there is a greater demand for diagnosis and treatment of viral diseases. The need for virology specimen collection increased as a result of the unanticipated rise in COVID-19 infected cases around the world.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Virology Specimen Collection Market dominated this market in 2022 (45.60%). According to the US Food and Drug Administration (FDA), Laboratory Corporation of America (LabCorp) will be the first diagnostic test developer for an at-home specimen collection kit for COVID-19 in April 2020. This is expected to boost demand for virology specimen collection across the region during the course of the anticipated term. Further, In the North American area, the U.S. Virology Specimen Collection market had the biggest market share, while the Canada Virology Specimen Collection market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe Virology Specimen Collection market accounted for the healthy market share in 2022. According to the WHO's January 2020 report, the World Health Organization (WHO) and the European Centre for Disease Prevention and Control (ECDC) are working closely together to evaluate the laboratory needs and capacities in the European region. Sample collection kits are required for laboratory tests and viral infection detection as a result of the rise in COVID-19 cases and viral infections. This is expected to drive the market for virology specimen collection to grow. Further, In the European region, the German Virology Specimen Collection market had the biggest market share, and the U.K. Virology Specimen Collection market had the quickest rate of growth.
The Asia Pacific Virology Specimen Collection market is expected to register significant growth from 2023 to 2032. In response to the COVID-19 virus outbreak, the Asian Development Bank (ADB) announced in April 2021 a USD 31.6 billion aid package for the Asia and Pacific region in 2020 to treat the epidemic and promote green and sustainable recovery. As a result, it is projected that increased government funding will lead to an expansion in the market for collecting virology specimens. Moreover, In the Asia-Pacific region, the Indian Virology Specimen Collection market had the quickest rate of growth while China's Virology Specimen Collection market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Virology Specimen Collection market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Virology Specimen Collection sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Virology Specimen Collection industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Virology Specimen Collection sector. Major players in the Virology Specimen Collection market, including Hardy Diagnostics, Puritan Medical Products, COPAN Diagnostics, Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., BNTX Inc., Formlabs, Medline Industries, Inc., Laboratory Corporation of America Holdings, VIRCELL S.L., Lucence Diagnostics Pte Ltd., and HiMedia Laboratories, are attempting to increase market demand by investing in research and development operations.
For genomic and proteomic research, the company Covaris, LLC develops sophisticated sample preparation technologies. The company offers technologies for instruments, kits, tubes and vials, reagents, and accessories so that clients can learn new things, develop new assays, and improve the results of bioanalytical procedures. For the extraction of viral RNA from nose or throat swab sample collecting devices, Covaris, LLC announced two new kits in February 2020: the truXTRAC viral RNA extraction kit and the truXTRAC-PCR direct viral RNA extraction kit.
Rhinostics produces sample collection kits for exams like COVID-19 to increase lab efficiency, precision, and security. The company's patient-centric sample collection offers efficiencies to the laboratory that remove expenses and save time, allowing labs to save time and labor costs, boost safety, reduce sample contamination, and lower mistake rates in comparison to traditional sample collection techniques. In July 2022, Rhinostics made a big development in automated sample collection technology with the release of the VERIstic collection equipment specifically developed for micro volume blood collection.
· Hardy Diagnostics
· Puritan Medical Products
· COPAN Diagnostics
· Becton, Dickinson and Company
· Thermo Fisher Scientific, Inc.
· BNTX Inc.
· Formlabs
· Medline Industries, Inc.
· Laboratory Corporation of America Holdings
· VIRCELL S.L.
· Lucence Diagnostics Pte Ltd.
· HiMedia Laboratories
March 2022: Thermo Fisher Scientific developed and launched the InhibiSURE Viral Inactivation Medium in Europe. This new viral transport medium, which also stabilizes viral RNA for transit and use in in vitro diagnostic testing procedures, can be used to get the SARS-CoV-2 virus and swiftly render it inactive.
· Swabs
· Viral Transport Media
· Blood Collection Kits
· Others
· Diagnostics
· Research
· Hospitals & Clinics
· Diagnostic Centers
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 5.6 Billion |
|
Market Size 2023 |
USD 6.2 Billion |
|
Market Size 2032 |
USD 9.4 Billion |
|
Compound Annual Growth Rate (CAGR) |
5.40% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Product Type, Application, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Hardy Diagnostics, Puritan Medical Products, COPAN Diagnostics, Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., BNTX Inc., Formlabs, Medline Industries, Inc., Laboratory Corporation of America Holdings, VIRCELL S.L., Lucence Diagnostics Pte Ltd., and HiMedia Laboratories |
|
Key Market Opportunities |
Rise in demand for rapid diagnostic tests |
|
Key Market Dynamics |
Approval of specimen collection kits by regulatory authorities, large volume and usage rate of swabs, increase in government funding, and rise in the demand for at-home kits for reducing the risk of virus transmission |
The global Virology Specimen Collection market size was valued at USD 5.6 Billion in 2022.
The global market is projected to grow at a CAGR of 5.40% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Hardy Diagnostics, Puritan Medical Products, COPAN Diagnostics, Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., BNTX Inc., Formlabs, Medline Industries, Inc., Laboratory Corporation of America Holdings, VIRCELL S.L., Lucence Diagnostics Pte Ltd., and HiMedia Laboratories
The Swabs Product Type dominated the market in 2022.
The Diagnostics Application had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65228
Published on :
Sep 2023
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