Rising Patient Pool Expected To Boost Growth Of COVID-19 Sample Collection Kits Market
The global COVID-19 sample collection kits market is anticipated to reach a value of about USD 3.8 billion by 2027, growing at a CAGR of around 4.7% during the forecast period.
The sample collection is the most critical phase in the laboratory diagnosis of a number of infectious diseases, comprising the ongoing coronavirus infection. Inaccurate and Improper collection of sample might result in negative or false test results. Thus, the Centers for Disease Control and Prevention (CDC) has suggested a standard sample collection method for collection and transport of sample with reference to testing of SARS-CoV-2. These regulatory norms have assisted in rationalizing the use of COVID-19 sample collection kits, thereby boosting the market growth.
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In recent times, a substantial surge is witnessed in the figure of COVID-19 cases along with insufficient lab-based molecular testing capability, which have stimulated numerous firms to build easy-to-use and rapid tests. This is expected to drive the growth of the global COVID-19 sample collection kits market growth during the forecast period. Further, authorization of synthetic swabs to be used in the coronavirus infection diagnosis and the succeeding rise in its production are anticipated to boost the market expansion. Also, the implementation of 3D printing technology is projected to improve the production methods of the kits. The introduction of 3D printed swabs helps cope with the emergency shortages confronted during the coronavirus infection testing, thus fueling the market growth. Regulatory bodies are inspiring the development of effective tests to certify reliable and accurate diagnosis. Also, numerous funding programs are projected to surge the kit production boosting the global COVID-19 sample collection kits market expansion.
The global COVID-19 sample collection kits market is divided based on application, product, end-user, and region. Based on product type, the market is divided into swabs, blood collection kits, viral transport media, and others. Among these, swabs segment is projected to hold the biggest market share as according to WHO’s recommendations, the preferred option of specimen collection is nasopharyngeal swabs for upper respiratory tract infections. On the basis of application, the market is divided into research and diagnostics. On the basis of end-user, the market is categorized into diagnostic centers, hospitals & clinics, and others. Among these, hospitals & clinics segment is expected to hold the biggest share on account of an elevated requirement for coronavirus infection testing in communities. Local regulatory bodies and government are busy in improving patient admission capacities at hospices, making ventilators & diagnostic tests, and escalating the digit of medical professionals accessible for dealing with the COVID-19 crisis.
Regionally, global COVID-19 sample collection kits market is anticipated to be governed by Europe during the forecast period. This regional growth can be attributed to the high digit of coronavirus cases within the European regions together with high number of swabs verified in Germany. In addition, Asia Pacific is also projected to observe substantial expansion in the years to come owing to attempts made by home-grown firms to magnify their offerings, like the release of enhanced sample collection kit in March 2020 by Singapore-based Lucence Diagnostics Pte Ltd, to deal with the effect of COVID-19. Additionally, government has been preemptive in disease management within the region. To cite, a COVID-19 sample collection booth was introduced by DRDO (Defense Research and Development Organization), in order to lessen the dependence of healthcare professionals on PPEs (Personal Protection Equipment), thus boosting the regional market.
The key market players in the global COVID-19 sample collection kits market include Lucence, Thermo Fisher Scientific, Abbott, QIAGEN, Siemens Healthineers, Shimadzu, Cepheid, Assay Genie, Bosch Healthcare, COPAN Diagnostics Inc, Vazyme, Liferiver Bio-Tech, BD, Zhuhai Livzon Diagnostics Inc, Roche, BGI, Sansure, Wondfo, Geneodx, Everlywell, Jiangsu Bioperfectus Technologies, Bestnovo, Wuhan Easy Diagnosis Biomedicine Co, Biology and Science, Maccura Biotechnology Co, Da An Gene Co, and Shanghai BioGerm Medical Biotechnology Co, among others.
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- CDN Newswire