Swab Market To Find Better Growth with US$ 1.02 Billion by 2026 | CAGR: 6.6%: Coherent Market Insights

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Global Swab Market, by Test Type (Blood, Urine, Saliva, and Others), by Product Type (Alcohol Swab, Cotton Swab, Dry Swab, and Gauze Swab), by Shaft Type  (Aluminum, Propylene, and Others), by End User (Hospitals, Clinics, Microbiology Laboratories, and Academia and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 578.6 million in 2017, and is estimated to exhibit a CAGR of 6.6% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.

Increasing research and development by market players to augment the market growth

Major market players are engaged in research and development to develop novel products and also focuses on gaining regulatory product approvel, in order to address the critical unmet needs of patients. For instance, Meridian Bioscience Inc. received approval from the Food and Drug Administration (FDA) for Alethia CMV Assay Test System, in November 2018, which is used in the detection of cytomegalovirus in newborn babies under age of 21 days by using saliva swab.

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Moreover, rising geriatric population is expected to increase incidence of chronic diseases, which is further expected to propel the market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), in May 2016, around 19% of the population in the U.S. is estimated to fall in the geriatric category by 2030. Furthermore, in the U.S., around 40 million individuals age above 65 years are affected by cardio vascular diseases.

Browse 21 Market Data Tables and 25 Figures spread through 147 Pages and in-depth TOC on ‘Swab Market’- Global Forecast to 2026, by Test Type (Blood, Urine, Saliva, and Others), by Product Type (Alcohol Swab, Cotton Swab, Dry Swab, and Gauze Swab), by Shaft Type  (Aluminum, Propylene, and Others), By End User (Hospitals, Clinics, Microbiology Laboratories, and Academia and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the swab market press release, click the link below: https://www.coherentmarketinsights.com/press-release/swab-market-to-surpass-us-102-billion-by-2026-1301

Additionally, increasing number of government initiatives for free diagnostic test is the factor that is expected to propel the market growth over the forecast period. For instance, in union budget 2014 -2015, the Government of India announced free drug service and free diagnostic test initiative under the National Health Mission (NHM). Moreover, in July 2015, the Ministry of Health and Family Welfare (MoHFW) formulated guidelines and shared it to states and union territories.

Key Takeaways of the Swab Market:

• The global swab market is expected to exhibit a CAGR of 6.6% over the forecast period. The market growth is attributed to rising incidence of surgical procedures, increasing prevalence of chronic and infectious diseases that is expected to drive demand for diagnostic test, which is further expected to fuel the market growth. For instance, according to the International Osteoporosis Foundation (CDC), fact sheet 2017, gonorrhea affects around 144.99 per 100,000 population and syphilis affects around 27.25 per 100,000 population in the U.S.
• Among test type, blood test segment is expected to hold a dominant position in the swab market in 2018, attributed to majority of diagnostic tests that are associated with blood test
• Among shaft type, polypropylene segment is expected to hold a dominant position in the swab market in 2018, owing to polypropylene swab, which are cost effective compared to others and has low risk of cross contamination, as it is mostly for single use
• Among end user, hospital segment is expected to hold a dominant position in the swab market in 2018, as majority of the surgical procedures are performed at hospitals
• Major players operating in the swab market include Puritan Medical Products, Copan Diagnostics, Inc., Sarstedt AG & Co. KG, FI Medical MWE, Cleancross Co., LTD., AdvaCare Systems, GPC Medical Ltd., Elmex Controls Pvt Ltd., and Citotest Labware Manufacturing Co., Ltd.

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