Market Trends of Global Swab and Viral Transport Medium Industry
This section covers the major market trends shaping the Swab & Viral Transport Medium Market according to our research experts:
The Transport media Segment is Expected to Hold a Major Market Share in the Swab and Viral Transport Medium Market.
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.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period.
The increasing prevalence of infectious disease in the 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 the United States. Also, According to World Health Organization (WHO) statistics in February 2022, about 77.2 million of the United States population was infected with the COVID-19 virus. The increase in the infection cases in the 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 the 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 the United States Department of Defense and the 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 the 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 the 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.
