The swabs collection kit market is expected to grow from US$ 4141.32 million in 2021 to US$ 5641.68 million by 2028; it is estimated to register a CAGR of 4.5% from 2021 to 2028.
The swabs collection kit market is expected to grow from US$ 4141.32 million in 2021 to US$ 5641.68 million by 2028; it is estimated to register a CAGR of 4.5% from 2021 to 2028.
Swab collection kits are individually wrapped sterile swabs for biomedical research or clinical diagnostic uses. Although especially popular in the field, swabs can be used in a variety of environments and specimen collection applications such as medical, forensics, genetics, microbiology, pre-analytical, diagnostics.
The growth of the swabs collection kit market is mainly attributed to factors such as rising number of coronavirus cases, increasing demand for accurate and modern swabs collection kit. However, the lack of skilled professionals and limitation of swabs collection methods for instance, the rate of false-negative results in reverse transcriptase-polymerase chain reaction testing is a great concern to hinder the market growth.
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Here we have listed the top Swabs Collection Kit Market companies
BD; Puritan Medical Products; Laboratory Corporation of America Holdings; HiMedia Laboratories; Thermo Fisher Scientific, Inc.; Hardy Diagnostics; VIRCELL S.L; BTNX, Inc.; Formlabs, and Lucence Diagnostics are among the leading companies operating in the swabs collection kit market.
Based on type, the swabs collection kit market is segmented into nasopharyngeal swabs, oropharyngeal swabs, and others. The nasopharyngeal swabs segment held the largest share of the market in 2021, whereas the oropharyngeal swabs segment is anticipated to register the highest CAGR in the market during the forecast period. Nasopharyngeal (NP) swabs are the highest-yield specimen type for upper respiratory viral diagnostic testing, including SARS-CoV-2, and according to the US FDA, the use of a flocked NP swab is the gold standard.
At present, the demand for nasopharyngeal swabs has prominently increased due to their incumbent use in the diagnosis of active severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) infection. To reduce the risk of getting exposed to the deadly coronavirus while collecting swabs, Singapore has invented a robot that performs nasal swabbing to detect COVID-19. Clinicians from the National Cancer Centre Singapore (NCCS) and Singapore General Hospital (SGH) partnered with Biobot Surgical, a medical robotics firm, to develop the SwabBot.
Impact of COVID-19 Pandemic on Swabs Collection Kit Market:
The COVID-19 outbreak is adversely affecting industries worldwide, and this devastating effect is continuing in 2021 as well. The outbreak created significant disruptions in primary industries such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction. The COVID-19 pandemic has served as a vital growth opportunity for the swabs collection kit market. The market has experienced exponential growth during the pandemic due to tremendous demand for COVID-19 testing through PCR. There have been various factors, including increased incidence of COVID-19 positive patients, growth in swabs collection kit, and rise in production of reagents and kits. Early detection plays a crucial role in treating COVID-19 patients. Many biotechnological firms in the region are actively involved in the development of COVID-19 testing kits. Several manufacturers are developing swabs collection kits and systems for the detection of the COVID-19 virus. Companies have taken strategic steps to launch COVID-19 rapid tests, maintain their revenues, and nullify the consequence of COVID-19 on their operational capacities. Therefore, the need for early detection of respiratory infection diseases is likely to propel the swabs collection kit market growth during the forecast period.
Rising Government Support for Medical Technologies
There is an increase in investments in medical research and development activities across the world. For instance, in February 2017, the Association of Indian Medical Device Industry (AiMeD) and Invest India signed a memorandum of understanding (MoU) to transform India into a global swab collection kit manufacturing hub.
Also, in August 2019, China’s National Medical Types Administration (NMPA) announced the expansion of the current medical device MAH pilot program from Shanghai, Beijing, Guangdong, and Tianjin to 21 cities and provinces. The program allows MedTech companies to allocate R&D and manufacturing activities across pilot cities and provinces. For instance, an R&D center in Shanghai holding the regulatory approval and IP of a device can outsource its manufacturing activities to neighboring areas such as Jiangsu and Zhejiang that have stronger manufacturing capacity. Thus, the growing government support for medical technologies is likely to favor the market growth.
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