SAN FRANCISCO, Nov. 11, 2020 /PRNewswire/ -- The global bacterial and viral specimen collection market size is expected to reach USD 38.8 billion by 2027, expanding at a CAGR of 14.0%, according to a new report by Grand View Research, Inc. The advent of high-throughput methods, such as next-generation sequencing, multiplex PCR, and matrix-assisted laser desorption/ionization time-of-flight mass spectrometry, allows rapid and affordable microbial identification and thus facilitates robust diseases diagnosis. This is increasing the demand for bacterial and viral specimen collecting products, thereby driving the market revenue.
Key suggestions from the report:
- The viral specimen collection segment is expected to witness a significant growth rate during the forecast period
- This is primarily driven by an increase in demand for viral transport media and swabs due to the COVID-19 pandemic and a rise in influenza cases, especially influenza A(H1N1)pdm09 subtype
- Diagnostics application dominated the market in terms of revenue share in 2019 owing to substantial demand for rapid diagnostic services globally
- A paradigm shift from conventional tests to rapid diagnostic tests have resulted in faster, accurate, and improved medical outcomes
- Numerous medical visits, high burden of infections particularly in older adults, and an increase in the risk of hospital-associated infections result in the dominant share of hospitals and clinics
- In June 2020, the King's College Hospital London and Mediclinic Middle East introduced FDA-approved COVID-19 serology tests for the public in UAE. Such efforts undertaken by hospitals boost segment growth
- Asia Pacific is expected to register a lucrative growth throughout the forecast period due to several initiatives undertaken by regional and local players for collecting the specimen
- There are over 100 companies in China that are engaged in exporting coronavirus testing kits to Europe, which accelerates the regional revenue generation
- Similarly, in March 2020, Singapore-based Lucence Diagnostics Pte Ltd. introduced a SAFER-Sample collection kit for more accessible coronavirus testing.
Read 195 page research report with ToC on "Bacterial & Viral Specimen Collection Market Size, Share & Trends Analysis Report By Product (Swabs, Blood Collection Kits, VTM), By Application (Diagnostics, Research), By End Use, By Region, And Segment Forecasts, 2020 – 2027" at: https://www.grandviewresearch.com/industry-analysis/bacterial-viral-specimen-collection-market
A rise in the prevalence of infectious diseases has encouraged diagnostic companies to offer rapid and easy-to-use tests, which propels the market growth. As per the Centers for Disease Control and Prevention (CDC), there were around 8,920 new Tuberculosis (TB) cases in the U.S. In regard to this, in July 2020, Cepheid, Inc. and the Foundation for Innovative New Diagnostics launched a rapid molecular test, Xpert MTB/XDR test for drug-resistance TB profiling. The test spurs the usage of specimen collection products.
Operating end-users such as clinical laboratories follow standardized protocols to streamline the usage of these products. This is because erroneous results while collecting samples affect patient care, hospital infection control, laboratory efficiency, and costs. The Texas Department of State Health Services is one of the regulatory agencies which is engaged in establishing guidelines for appropriate collecting and processing of samples, thus positively influencing the market growth.
Grand View Research has segmented the global bacterial and viral specimen collection market on the basis of product, application, end-use, and region:
- Bacterial & Viral Specimen Collection Product Outlook (Revenue, USD Million, 2016 - 2027)
- Bacterial Specimen Collection
- Bacterial Transport Media
- Blood Collection Kits
- Other Consumables
- Viral Specimen Collection
- Viral Transport Media
- Blood Collection Kits
- Other Consumables
- Bacterial & Viral Specimen Collection Application Outlook (Revenue, USD Million, 2016 - 2027)
- Bacterial & Viral Specimen Collection End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Hospitals & Clinics
- Home Test
- Research Laboratories
- Bacterial & Viral Specimen Collection Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- The U.K.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- South Africa
List of Key Players of Bacterial & Viral Specimen Collection Market
- Puritan Medical Products
- COPAN Diagnostics
- Becton, Dickinson and Company
- Thermo Fisher Scientific, Inc.
- Quidel Corporation
- Longhorn Vaccines and Diagnostics, LLC
- Pretium Packaging
- Trinity Biotech
- Medical Wire & Equipment
- HiMedia Laboratories
- Hardy Diagnostics
- Nest Scientific
- VIRCELL S.L.
- Titan Biotech.
Find more research reports on Clinical Diagnostics Industry, by Grand View Research:
- Primary Care POC Diagnostics Market – The global primary care POC diagnostics market size was estimated at USD 6.3 billion in 2016. The rapid evolution of point-of-care testing (POCT) holds enormous potential for the growth of both primary and secondary care settings.
- Influenza Diagnostics Market – The global influenza diagnostics market size was valued at USD 1.91 billion in 2015.with an increasing number of individuals being susceptible to the disease, the demand for influenza diagnostics products has been rising fueling market growth.
- Pharmaceutical Sterility Testing Market – The global pharmaceutical sterility testing market size was valued at USD 733.7 Million in 2016. It is estimated to register a CAGR of 11.8% over the forecast period.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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