Global Swabs and Viral Transport Media Market – Industry Analysis, Size, Share, Trends, and COVID-19 Impact

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Published Date: September 2020

The global swabs and viral transport media market accounted for 2.6 billion in 2020 and is estimated to be US$ 3.8 billion by 2029 and is anticipated to register a CAGR of 4.4%.

The report "Global Swabs and Viral Transport Media Market, By Product Type (Virus Swabs (Nasopharyngeal Swabs, Deep Nasal Swabs, Combined Nasal & Throat Swabs, Culture Swabs, and Vaginal Swabs) and Viral Transport Medium (Tissue Culture Medium and Glycerol Transport Medium)), By Indication (Influenza, Respiratory syncytial virus, Mumps Virus, Adenovirus, Rhinovirus, Herpes Simplex Virus, Varicella-Zoster Virus, and Other Indication), By End-user (Diagnostic Laboratories, Hospital & ASC’s, Specialty Clinics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

In December 2019, Hardy Diagnostics announced launch of Universal Transport Medium product line. Universal Transport Medium (UTM) is an FDA-cleared collection and transport system suitable for collection, transport, maintenance and long-term freeze storage of clinical specimens containing viruses, chlamydia, mycoplasma and ureaplasma organisms.
In July 2020, EKF Diagnostics, the global in vitro diagnostics company, has announced novel molecular transport media for dual COVID-19 and influenza sampling.

Analyst View:

Growth in government initiatives for infectious and non-infectious diseases

The need to address patients' health has become a priority for government organizations and healthcare providers across the globe. In addition, the U.S. Administration for Community Living, Department of Health and Human Services, provides sponsorship for various studies on sepsis. Moreover, the development of new therapies for the treatment of infectious diseases has been encouraged by these initiatives offered by the government. Further, FDA eases rules on viral transport media to increase availability for COVID-19 testing. Thus, driving growth of the target market.

A growing number of patients infected with coronavirus

The demand for a swab and viral transport media has fueled during this ongoing coronavirus crisis because of rapid antigen testing and molecular assay experiments. Direct fluorescent antibody (DVA) and long-term freezer applications are creating lucrative growth opportunities for companies in the global swab and viral transport media market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Swabs and Viral Transport Media Market”, By Product Type (Virus Swabs (Nasopharyngeal Swabs, Deep Nasal Swabs, Combined Nasal & Throat Swabs, Culture Swabs, and Vaginal Swabs) and Viral Transport Medium (Tissue Culture Medium and Glycerol Transport Medium)), By Indication (Influenza, Respiratory syncytial virus, Mumps Virus, Adenovirus, Rhinovirus, Herpes Simplex Virus, Varicella-Zoster Virus, and Other Indication), By End-user (Diagnostic Laboratories, Hospital & ASC’s, Specialty Clinics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Market Insights from the report:

The global swabs and viral transport media market accounted for 2.6 billion in 2020 and is estimated to be US$ 3.8 billion by 2029 and is anticipated to register a CAGR of 4.4%. The market report has been segmented on the basis of product type, indication, end-user, and region.

Depending upon product type, the vital transport medium segment is projected to grow at a high CAGR throughout the estimated timeframe. The rise in the need and demand for detection and prevention of the infectious diseases across the globe is augmenting the growth of the market.

The global viral transport media segment accounted for 1.2 billion in 2020 and is estimated to be US$ 1.7 billion by 2029 and is anticipated to register a CAGR of 4.0%.

The global swab segment accounted for 1.3 billion in 2020 and is estimated to be US$ 2.0 billion by 2029 and is anticipated to register a CAGR of 4.6%.

Depending upon the indication, the worldwide industry is categorized into influenza, respiratory syncytial virus, mumps virus, adenovirus, rhinovirus, herpes simplex virus, varicella-zoster virus, and other indication.
In terms of end-user, the diagnosis segment is expected to lead the global market throughout the forecast period. Increasing demand for diagnostic testing services and rise in number of suppliers of FDA-approved swabs and viral transport media is projected to dive the segment. COPAN Diagnostics, Inc., Puritan Medical Products, and Becton, Dickinson and Company (BD) are the FDA-approved manufacturers of nasopharyngeal and oropharyngeal swabs for coronavirus tests.
By region, North America swab and VTM market accounted for a significant share in 2019. Growing awareness about the benefits of disease prevention and an increase in healthcare expenditure boosts the swab and VTM market in North America. In addition, the presence of prominent companies and growth strategies undertaken by them are creating a positive impact on the growth of the target market.

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https://www.prophecymarketinsights.com/market_insight/Global-Swabs-and-Viral-Transport-Media-Market-4453

Competitive Landscape:

The prominent player operating in the global swabs and viral transport media market includes Thermo Fisher Scientific Inc., Laboratory Corporation of America, Puritan Medical Products, Lucence Diagnostics Pte Ltd, Becton, Dickinson and Company, BTNX, Formlabs, Medline Industries, Inc., VIRCELL S.L., HiMedia Laboratories, Hardy Diagnostics, and Titan Biotech Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period