The global COVID-19 sample collection kits market size is expected to account for USD 16.3 billion by 2027, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 3.5% over the forecast period. The continuous approval of diagnostic tests for effective diagnoses of SARS-CoV-2 infection raises the demand for sample collection products, such as swabs and Viral Transport Media (VTM). Also, a shortage of testing materials such as swabs, reagents, and others has resulted in the proliferation of new players in the space, thereby driving the market revenue.
The
regulatory agencies are playing a major role as the key driving force of the
market, by safeguarding the product efficiency and accelerating new approvals.
For instance, in November 2020, the COVID-19 All-In-One Test Kit test by Lucira
was authorized by the U.S. Food and Drugs Administration (FDA) for home use for
suspected COVID-19 individuals of age 14 and older. The test enables the use of
a self-collected nasal swab specimen. Such developments are aimed at the
comfort and convenience of patients, along with minimizing the infection risk
for healthcare professionals.
Furthermore,
constant expanding global financing to boost the swab production which is
currently the need of the hour foment organic revenue growth. Some funding
agencies are operating in the space are the Washington Entrepreneurial Research
Evaluation and Commercialization Hub (WE-REACH), the Foundation for Innovative
New Diagnostics (FIND), and the U.S. Department of Health and Human Services
(HHS).
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COVID-19 Sample
Collection Kits Market Report Highlights
- The Centers for Disease
Control and Prevention (CDC) and the WHO have recommended nasopharyngeal
swab-based diagnostic tests as the preferred mode of testing for
SARS-CoV-2 detection
- This has led to the
dominance of swabs over other specimen collection products, with a 42.0%
revenue share in the 2020 market
- The large volume and usage
rate of nasopharyngeal and oropharyngeal swabs has attributed to the
highest share of this product in the global market
- Application of COVID-19
sample collection kits in diagnostics setting is anticipated to account
for the largest revenue share in 2020
- A continuous increase in the
number of approvals by the U.S. FDA has significantly propelled segment
growth
- A large volume of tests
carried out in the hospitals coupled with the establishment of new
hospitals especially dedicated to COVID-19 care resulted in the dominant
share of hospitals and clinics
- Owing to the highest number
of cases and tests carried out in the U.S., North America captured the
maximum revenue share in 2020
- Furthermore, Europe pegged
the second position in the market in terms of revenue generation. The
presence of key players such as COPAN Diagnostics and Roche in the region
contributes to the region’s total revenue
- Key participants operating
in the space, such as Thermo Fisher, Becton Dickinson, COPAN Diagnostics,
and Puritan Medical Products, are constantly boosting their production and
supply
- For instance, in October
2020, Puritan Medical Products announced its plans to establish a second
facility in Pittsfield, after being awarded USD 51.2 million through CARES
Act
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COVID-19 Sample
Collection Kits Market Segmentation
Grand View Research has segmented
the global COVID-19 sample collection kits market based on product,
application, site of collection, and region:
COVID-19 Sample
Collection Kits Product Outlook (Revenue, USD Million, 2020 - 2027)
- Swabs
- Nasopharyngeal (NP) swabs
- Oropharyngeal (OP) swabs
- Nasal Swabs
- Viral Transport Media
- Blood Collection Kits
- Other Consumables
COVID-19 Sample
Collection Kits Application Outlook (Revenue, USD Million, 2020 - 2027)
- Diagnostics
- Research
COVID-19 Sample
Collection Kits Site of Collection Outlook (Revenue, USD Million, 2020 - 2027)
- Hospitals & Clinics
- Home Test
COVID-19 Sample
Collection Kits Regional Outlook (Revenue, USD Million, 2020 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- South Korea
- Australia
- Japan
- Latin America
- Brazil
- Mexico
- Middle East Africa (MEA)
- South Africa
- Saudi Arabia
List of Key Players
of COVID-19 Sample Collection Kits Market
- Puritan Medical Products
- COPAN Diagnostics
- Becton, Dickinson and
Company
- Thermo Fisher Scientific,
Inc.
- Laboratory Corporation of
America Holdings
- Lucence Diagnostics Pte Ltd.
- Hardy Diagnostics
- Trinity Biotech
- Quidel Corporation
- Quest Diagnostics
- Danaher Corporation
- Vitagene Inc.
- Formlabs
- HiMedia Laboratories
- VIRCELL S.L.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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