Swab and Viral Transport Medium Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Swab and Viral Transport Medium Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Swab and Viral Transport Medium market are projected to register a CAGR of 4% during the forecast period (2022-2027).

The COVID-19 outbreak is expected to have a significant impact on the swab and viral transport tedium market due to the increasing demand for the diagnosis of the infections among patients .The swab and viral transport medium is expected to grow due to the intensified experiments for the COVID-19 in the research organizations and labs for developing vaccinations. The increasing research and development activities to produce COVID-19 vaccination are expected to propel the growth of the market during the pandemic period.

The increasing cases of COVID-19 among people across the globe are expected to propel the growth of the market. Owing to the need for developing vaccination and early diagnosis to treat the infection is expected to boost the growth of the market. According to World Health Organization (WHO), there were approximately 404 million COVID-19 cases recorded in the world till February 2022. Additionally, the report states that 5.7 million deaths were recorded across the world in 2022. The COVID-19 pandemic has led to an unexpected negative impact on the growth of almost all industrial sectors due to the sudden imposition of lockdown. Several economies across the world faced unprecedented losses due to the lack of labor and disruptions in the supply chains. The need for diagnosis of this COVID-19 infection in order to control the disease rate for the economies to rise again led to the demand for the swab and viral transport medium across the world. This increase in the incidence of many other infectious diseases across the globe led to the increase in demand for swabs and transport mediums resulting in the growth of the market. Moreover, a Surge in the number of new viruses emerging that can cause various diseases in humans is an additional factor contributing to the growth of the swab and Viral transport medium market. According to the article published in Nature, in 2021, Now, as pandemic restrictions ease, some respiratory viruses are returning in unexpected ways. Infections with Respiratory Syncytial Virus (RSV) started to rise in April 2021, which is also responsible for 5% of deaths in children under 5 years worldwide. Hence the increasing incidence of other infectious diseases is expected to drive the growth of the swab and viral transport medium market owing to the rising demand for specimen collection kits and diagnoses.

The sudden outbreak of COVID-19 had increased the demand for transport media in order to diagnose and treat the infected people. and provide vaccinations.

The Transport media is expected to hold a significant share in the growth of the market owing to the long-term freezing and transport of the clinical specimens that contain viruses. The increasing necessity for the laboratory examination of the specimen and diagnosis of the infective virus during the widespread pandemic across the globe led to the increase in the demand for transport media.

Additionally, the government approvals for the usage of transport media are also a contributing factor for the growth of the market. According to Food and Drug Administration (FDA) in 2021, a transport media is required to perform testing of SARS,- COV-2, and is useful in the transport of specimens to the laboratory for further assays. Upon the recommendation of authoritative bodies, market players ramped up their production capacities to produce the transport media products to gain a significant market share. For instance, in March 2020, Rocky Mountain Biologicals, LLC mass-produced COVID-19 testing Viral transport medium kits. Therefore, the transport media segment is expected to dominate the market during the forecast period.

The increasing prevalence of infectious disease in United States region is one of the major factors contributing to the major share of the market. According to the Center for Disease Control and Prevention (CDC) in 2021, 3.4 million people visit the emergency department with infectious and parasitic diseases in United States. Also, According to World Health Organization (WHO) statistics in February 2022, about 77.2 million of United States population was infected with the COVID-19 virus. The increase in the infection cases in United States led to the increase in the demand for the quick diagnosis to the product development in this region is attributed to the growth of the market.The increasing funding activities from the public and private organizations in United States are also a major factor contributing to the growth of the market. For instance, In July 2020, Hologic, Inc. received USD 7.6 million from United States Department of Defense and United States Department of Health and Human Services (HHS) to expand the production of specimen collection and processing consumables for SARS-CoV 2 testing. Moreover, the increasing health care expenditure by the people in United States is an attributing factor for the growth of the Saliva Collection and diagnostics market. For instance, the Center for Disease Control and Prevention (CDC) in 2020 reported that over 3.8 trillion USD is spent by the people in United States as the Annual Health Care costs. The largest share of the region is also due to the presence of major market players and quick adaption to Technologically advanced diagnostics.

Additionally, an increase in the research and developmental activities and the presence of favorable health care infrastructure is fueling the growth of the market in this region.

The Swab and Viral Transport Medium market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Thermo Fisher Scientific, Becton, Dickinson and Company, Titan Biotech Limited, Copan Diagnostic inc, Medical Wire and Equipment, Puritan Medical Products, Yocon Biology, Trinity Biotech, Vircell, DiaSorin S.p.A, EKF diagnostics, McKesson Medical Surgical Inc, Cardinal Health, Quidel Corporation and others.

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