Market Snapshot
| Study Period: | 2019-2027 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | North America |
| CAGR: | 14 % |
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Market Overview
The virology specimen collection market is projected to register a CAGR of 14% during the forecast period (2022-2027).
Amidst the COVID-19, the virology specimen collection market is expected to grow owing to the rising cases of COVID-19 among people across the globe. The increase in the need to diagnose COVID-19 infected patients and screen people is projected to create lucrative opportunities for the virology specimen collection market. According to World Health Organization (WHO), in 2022, the number of new COVID-19 cases increased by 5% across the globe. The market players took this opportunity to expand their product line and gain a significant market share by providing diagnostic tools. For instance, In April 2020, Puritan Medical products increased the production of its nasal swabs to more than 1.0 million for COVID-19 testing per week, meeting the increasing demand in the current market scenario.
The increasing prevalence of viral disease and the emergence of new pathogens is expected to be the major driving factor for the market's growth. According to the World Health Organization (WHO), in 2021, 60 % of the global population will be suffering from infectious diseases. The rising incidence of viral diseases such as Human Immunodeficiency Virus (HIV), Influenza, EBOLA, Zika Virus, and other sexually transmitted diseases led to the increasing demand for virology specimen collection for an effective diagnosis of the infections. According to World Health Organization (WHO), in 2021, Since the beginning of the epidemic, 79.3 million people have been infected with the Human Immunodeficiency Virus (HIV), and 36.3 million people have died of HIV. Similarly, the Food and Agriculture Organization (FAO) report in January 2022 states that 13 new cases of the Avian influenza virus occurred in China, while 5 cases are in the United Kingdom. Additionally, the World Health Organization (WHO) in 2021 reported that 3481 cases of EBOLA are present in the world. The World Health Organization (WHO) in 2020 stated that more than 1 million sexually transmitted infections are acquired per day worldwide. Also, it is estimated that there are 374 new infections with one of four sexually transmitted diseases. Therefore, the increasing prevalence of viral diseases and the emergence of new viral infections led to the increasing demand for the virology specimen collection market owing to the efficient diagnosis in order to get the proper treatment.
Scope of the Report
As per the scope of this report, Virology Specimen Collection Market refers to the specimen collection system used for collecting clinical specimens for the virology diagnosis purpose. The Virology Specimen Collection Market is by Product Type (Blood Collection Kits, Viral Transport Media, and Others), End Users (Hospitals and Clinics, Diagnostic Laboratories, and Others), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa and South America). The Market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values in USD million for the above segments.
| By Product Type | |
| Blood Collection Kits | |
| Viral Transport Media | |
| Others |
| By End users | |
| Hospitals and Clinics | |
| Diagnostic Laboratories | |
| Others |
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Key Market Trends
The Hospitals and Clinics Segment is Expected to Hold a Major Market Share in the Virology Specimen Collection Market Market
The sudden outbreak of COVID-19 has increased the demand for virology specimen collection due to the increased infectious cases of COVID-19 disease across the world and the need for a robust supply of vaccinations.
The Hospitals and clinics segment is expected to register with significant revenue in the forecast period. This is attributed to an increase in the number of patients for respiratory viruses and infections and the increasing need for providing antiviral drugs and therapy. The National Institute of Health (NIH), in 2021, reported that Acute Respiratory Infections (ARI) accounted for 69% of the total communicable diseases in the world. Additionally, the article published by Nature in 2021 mentioned that Respiratory Syncytial Virus (RSV) started rising months later than usual in April and is also responsible for about 5% of deaths in children worldwide. Moreover, the increase in healthcare-associated infections in acute care hospitals led to the increasing demand for virology specimen collection products in hospitals and clinics. According to the Centers for Disease Control and Prevention (CDC), in 2020, in American hospitals alone, hospital-acquired infections accounted for 1.7 million infections and 99,000 associated deaths each year. Thus huge surge in the occurrence of respiratory diseases and hospital-acquired infections led to the increasing usage of virology specimen collection products in Hospitals and clinics, which propelled the market growth.
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North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
The United States is likely to command the global market owing to the technological innovations in the diagnostic and virology specimen collection devices used for disease testing. Increasing awareness regarding disease transmission and effective diagnosis of viral diseases accounted for the growth of this region's virology specimen collection market. The increasing funding activities from the public and private organizations in the United States are also a major factor contributing to the market's growth. 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 in the United States contributes to the growth of the virology specimen collection market. For instance, the Center for Disease Control and Prevention (CDC),2020, reported that over 3.8 trillion USD is spent by the people in the United States on Annual Health Care costs. The region's largest share is also due to the presence of major market players and quick adaption to technologically advanced diagnostics.
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Competitive Landscape
The Virology Specimen Collection 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, Puritan Medical Products, Trinity Biotech, Medical Wire & Equipment, Vircell, Quidel Corporation, Becton, Dickinson and Company, Titan Biotech Limited, Copan Diagnostics, EKF Diagnostics, Hardy Diagnostics, Pretium packaging, and others.
Recent Developments
In February 2022, Azooka labs, a startup incubated by the Society for Innovation and Development at the Indian Institute of Sciences (IISC) Bangalore, launched India’s first indigenous biological transport and storage medium.
In December 2021, Ethos Laboratories announced the launch of Tru-Immune- A finger prick, self-collection kit for its COVID-19 Neutralizing antibody test. This test allows individuals to obtain real-time measurements of their COVID-19 immunity profiles safely, quickly, and effectively with minimal pain.
In February 2021, Microbix Biosystems announced the commercial availability of its Viral Transport Medium to support Canadian RT-PCR (Molecular) testing for the COVID-19 virus.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing prevalence of viral diseases and emergence of new pathogens
4.2.2 Rising number of blood donations
4.3 Market Restraints
4.3.1 High cost of collection kits and technologies
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Blood Collection Kits
5.1.2 Viral Transport Media
5.1.3 Others
5.2 By End users
5.2.1 Hospitals and Clinics
5.2.2 Diagnostic Laboratories
5.2.3 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Thermo Fisher Scientific
6.1.2 Puritan Medical Products
6.1.3 Trinity Biotech
6.1.4 Medical Wire and Equipment
6.1.5 Vircell
6.1.6 Quidel Corporation
6.1.7 Becton, Dickinson and Company
6.1.8 Titan Biotech limited
6.1.9 COPAN diagnostics, Inc
6.1.10 EKF diagnostics
6.1.11 Hardy Diagnostics
6.1.12 Pretium Packaging
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Virology Specimen Collection Market market is studied from 2019 - 2027.
What is the growth rate of Global Virology Specimen Collection Market?
The Global Virology Specimen Collection Market is growing at a CAGR of 14% over the next 5 years.
Which region has highest growth rate in Global Virology Specimen Collection Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Virology Specimen Collection Market?
North America holds highest share in 2021.
Who are the key players in Global Virology Specimen Collection Market?
ThermoFisher Scientific, Puritan Medical Products, Trinity Biotech, Medical Wire & Equipment , Vircell are the major companies operating in Global Virology Specimen Collection Market.
