Global Sample Collection Kits Market was valued US$ 2.6 Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 5.30 % during a forecast period.
Global Sample Collection Kits Market
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The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Sample Collection Kits Market, Dynamics:
The rise in the number of COVID-19 cases and the presence of the inadequate laboratory-based molecular testing capacity are some of the prominent factors behind the growth of the global sample collection kits market. In addition, the approval of synthetic swabs for the usage in the diagnosis of coronavirus infection and an increase in its production are expected to boost market growth. Governments of several countries and various key players are rapidly scaling the production of the sample collection kits to reduce the affection of the pandemic COVID-19. Lucence, a molecular diagnostic Company, and the Agency for Science, Technology and Research(A*STAR) have recently revealed the results of their study that the reagent used in Lucence’s SAFER Sample Collection Kit can inactivate SARS-CoV-2 within 45 seconds of sample collection. The study reveals that the reagent can stabilize viral RNA for up to one week at the room temperature. This can be a crucial invention as it adds up to a safer sample collection via saliva, non-invasive and cost-effective testing worldwide and in the coming months, an overall hike in the market can be predicted. On the other hand, lack of test-related supplies like reverse transcription-polymerase chain reaction instruments, swabs, and laboratory-based reagents are expected to limit the growth of the global sample collection kits market.
Global Sample Collection Kits Market, Segment Analysis:
The swabs are expected to contribute a XX% share in the global sample collection kits market. An increase in disease burden followed by a number of surgeries, growth in the geriatric population, and per capita expenditure in the healthcare sector is expected to drive the growth of the global sample collection kits market. A Q-tip nasal swab is measured as a gold standard for COVID-19 testing that is expected to increase the demand for swabs for sample collection kit. Furthermore, the blood collection kits are expected to grow at a 6.80% rate of CAGR during the forecast period. An increase in the prevalence of infectious diseases and non-communicable diseases are some of the prominent factors behind the market growth. Blood collection products are widely used in the treatment of patients, who are suffering from chronic diseases. They are also used for the diagnosis of various infectious and non-infectious diseases. The blood samples are required to diagnose the source of infections because of the pathogenic microorganisms or identify anomalies.
The Hospitals and clinics segment is expected to hold the dominant position in the market. The dominant position in the market is attributed to the increased requirement for testing of coronavirus infection in communities. The Government and local regulatory bodies are focusing on the enhancement of the patient admission capacities at hospitals, the number of medical professionals and diagnostic tests, and availability of the ventilators for the reduction of the COVID-19 crisis. A high sales volume of specimen collection solutions within hospital and clinical settings are expected to drive the global market growth.
Global Sample Collection Kits Market, Regional Analysis:
Europe region is expected to grow at a XX% rate of CAGR during the forecast period. The region is expected to contribute more than a 30% share in 2020. The growth in the regional market is attributed to the high volume of swabs tested in countries like Germany, the U.K, France, and Italy. An impact of the coronavirus cases in the European region is contributing maximum share in the market. In 2020, averages of 116,655 swab tests per day have carried out in 132 laboratories of Germany. The high volume of testing is assisting to reduce the death rate due to the spread of coronavirus that is expected to increase the adoption of the swabs and specimen collection kits in Europe.
Global Sample Collection Kits Market, Competitive Analysis:
Some of the prominent key players are expanding capabilities of sample collection kits by integrating various complementary technologies. The leading key players operating in the market are focusing on new product development, mergers and acquisitions, strategic partnerships, and business expansions to form a robust footprint across the globe. For instance, In 2020, Puritan Medical Group company has partnered with Bath Iron Works, the U.S. shipyard to increase its swab production capacity.
The objective of the report is to present a comprehensive analysis of the Global Sample Collection Kits Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Sample Collection Kits Market dynamics, structure by analyzing the market segments and projects the Global Sample Collection Kits Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Sample Collection Kits Market make the report investor’s guide.
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Scope of the Global Sample Collection Kits Market: Inquire before buying
Global Sample Collection Kits Market, By Product
o Nasopharyngeal (NP) swabs
o Oropharyngeal (OP) swabs
• Viral Transport Media
• Blood Collection Kits
• Other Consumables
Global Sample Collection Kits Market, By Application
Global Sample Collection Kits Market, By End User
• Hospitals & Clinics
• Home Test
Global Sample Collection Kits Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Sample Collection Kits Market
• Lucence Diagnostics Pte Ltd.
• Hardy Diagnostics
• BNTX Inc.
• Thermo Fisher Scientific, Inc.
• Puritan Medical Products
• COPAN Diagnostics
• Becton, Dickinson and Company
• Laboratory Corporation of America Holdings
• Medline Industries, Inc.
• HiMedia Laboratories
• Vircell S.L.
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