North America Swabs Collection Kit Market Forecast 2023-2032

North America Swabs Collection Kit Market Forecast 2023-2032

KEY FINDINGS

The North America swabs collection kit market is anticipated to register a CAGR of 2.49% during the forecast period, 2023-2032. Regulatory bodies like Health Canada and the United States Food and Drug Administration (FDA) put forth the safety, performance, and quality standards for swabs collection kits.

MARKET INSIGHTS

Canada and the United States are evaluated for the North America swabs collection kit market growth assessment. Initially, rapid point-of-care tests did not receive approval in Canada. However, later on, Health Canada approved these tests in response to the surge in COVID-19 cases. In October 2020, the federal government entered into an agreement for the acquisition of 20.5 million rapid COVID-19 tests. Further, as reported by the World Health Organization (WHO), until July 2023, Canada has witnessed a total of 4.6 million COVID-19 cases. Consequently, the swab collection kits demands have risen significantly due to their vital role in detecting and diagnosing COVID-19 infections, monitoring the virus's spread, and implementing essential public health initiatives.

Accordingly, the emergence of additional SARS-CoV-2 virus variants, some of which may be more transmissible or severe, necessitated heightened surveillance and monitoring efforts. Genomic sequencing, facilitated by swab collection kits, is crucial in detecting and tracking these variations. Moreover, in recognition of the importance of diagnostic testing research and development, the Canadian government has made investments in innovative testing technologies, notably advancements in swab-collecting techniques and materials. Such factors facilitate market growth in Canada.

COMPETITIVE INSIGHTS

Some of the prominent players in the market include Thermo Fisher Scientific Inc, Becton, Formlabs, Puritan Medical Products, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments