Medical Swabs Market

Medical Swabs Market

Growth Factors of Medical Swabs Market

The medical swabs market size was valued at USD 3.29 billion in 2023, and the market is now projected to grow from USD 3.51 billion in 2024 to USD 6.11 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period of 2023-2030.

The pandemic crisis eventually led to a higher demand for medical supplies such as sterile swabs, surgical masks, and diagnostic products. The elevated trades of products and advancements in the quality of products positively impacted. The COVID-19 pandemic marked a positive increase to the medical swabs market growth. The higher demand for rapid diagnostic testing has expanded the market. The growing occurrence of infectious diseases created multiple growth opportunities for manufacturers and is expected to help increase their revenue during the forecast period.

The medical swabs market share globally has been contributed due to the rising in rapid testing procedures to fuel demand. The increasing rapid testing procedures in the market have caused an increased demand for these products for specimen collection, disinfection, and other applications. Therefore, the growing implementation of rapid testing by end users is anticipated to promote the global medical swabs market growth.

Advancements in any market are a positive approach in boosting the market potentiality and its value. The division of 3D Clinical Applications at the University of South Florida’s (USF) Department of Radiology started examining the potential for creating 3D printed substitutes for the traditional flocked NP swab. This product has received manufacturing authorization from the regulatory bodies. Hence, the innovation of the product trend is propelling the market growth.

Comprehensive Analysis of Medical Swabs Market

The medical swabs market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the medical device industry. These segmentations are methodically segregated by type, application, and end user. The types are scotton-tipped, foam tipped, non-woven, and others. The application segment includes specimen collection, disinfection, and others. However, the end user consists of hospitals & clinics, laboratories & diagnostics centers, and research institutes.

The North American region is conducive to the global medical swabs market leading to a recall of USD 1.36 billion due to the increasing rate of infectious disease is higher in the region. It is impelling more IVD tests to be performed in which medical swabs are utilized.

The top players in the market play a crucial role in the medical device industry assuring industrial prospectus growth and setting market standards. These players include BD (U.S.), 3M (U.S.), Copan Diagnostics Inc. (U.S.), FL MEDICAL srl (Italy), DLS Medical (U.K.), Dynarex (U.S.), Advacare Pharma (India), and Puritan Medical Products (U.S.) these market players provide a level-playing competitive landscape.

In January 2023, The University of South Florida (USF) was awarded the Patents for Humanity award by the U.S. Patent and Trademark Office (USPTO) for its patent of the 3D-printed nasopharyngeal (NP) swab. It was created in the early part of the pandemic to disrupt commercial production of standard flocked NP swabs critical in diagnostic testing for COVID-19.

Segmentation Table

Global Medical Swabs Market Scope

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 7.2% over 2024-2032

Unit Value (USD Billion)

Segmentation By Type

- Cotton Tipped

- Foam Tipped

- Non-woven

- Others

By Application

- Specimen Collection

- Disinfection

- Others

By End User

- Hospitals & Clinics

- Laboratories & Diagnostics Centers

- Research Institutes

By Geography

- North America (By Type, By Application, By End User, and by Country)

- U.S. (By Application)

- Canada (By Application)

Europe (By Type, By Application, By End User, and by Country/ Sub-Region)

- U.K. (By Application)

- Germany (By Application)

- France (By Application)

- Italy (By Application)

- Spain (By Application)

- Scandinavia (By Application)

- Rest of Europe (By Application)

Asia Pacific (By Type, By Application, By End User, and by Country/Sub-Region)

- China (By Application)

- Japan (By Application)

- India (By Application)

- Australia (By Application)

- Southeast Asia (By Application)

- Rest of Asia Pacific (By Application)

Latin America (By Type, By Application, By End User, and by Country/Sub-Region)

- Brazil (By Application)

- Mexico (By Application)

- Rest of Latin America (By Application)

Middle East & Africa (By Type, By Application, By End User, and By Country/Sub-Region)

- GCC (By Application)

- South Africa (By Application)

Rest of the Middle East & Africa & Africa (By Application)


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