Oct 16, 2020
Swab and Viral Transport Medium Market to Reach US$ 2.2 Bn by 2030, as COVID-19 Outbreak Creates Unprecedented Demand for Swab Testing
by Team Fact.MR
In the thick of the COVID-19 pandemic, there is continual demand for swabs and viral transport mediums across the world to conduct tests and control the spread of the infection. This has created a lucrative revenue opportunity for the global swab and viral transport medium market. A new study by Fact.MR projects that the market will surge past a global valuation of US$ 2.2 Bn by the end of 2030.
Predominantly used across hospitals and laboratories, swab and viral transport medium aid in collecting, transporting, and storing swabs obtained from patients. The collected samples are then tested by microbiologists for the presence of infectious viruses, thereby playing a vital role in the detection of an infection or disease. Rising incidence of contagious diseases caused by viruses such as influenza, herpes simplex virus, rhinovirus, and varicella-zoster virus, among others, is also enabling the growth of the swab and viral transport medium market.
Key Takeaways from Swab and Viral Transport Medium Market Study
- Growing prevalence of infectious diseases and rising awareness among people are expected to act as crucial growth attributes to the market over the coming years.
- Based on type, the transport medium segment is expected to account for a majority of value, owing to increasing demand for transporting biosamples for research purposes.
- By application, the viral infection diagnosis segment is poised to account for a lion's share, ascribed to the high incidence of infections caused by influenza and herpes simplex virus.
- The hospitals & clinics segment is projected to channel a majority of revenue to the swab and viral transport medium market, backed by high inpatient rate for testing.
"While infections such as influenza and herpes ensure healthy long-term growth prospects of the market, the outbreak of COVID-19 is currently catalyzing market growth. Governments across the world are collaborating with healthcare service providers to ensure effective testing and treatment processes, thus positively influencing growth of the swab and viral transport medium market," remarks a Fact.MR analyst.
Soaring Prevalence of Infectious Diseases Fueling Demand
The threat of infectious diseases has remained a major healthcare concern across both, developed and emerging economies. Influenza is one of the most common infections across the world, causing nearly 650,000 deaths every year. On this premise, nations are working on raising awareness and improving medical capabilities to lower the mortality rates. With testing being the most effective way to detect the presence of a virus, swab and viral transport mediums are expected to remain highly sought-after by medical institutions across the world.
More Valuable Insights on Swab and Viral Transport Medium Market
Fact.MR, in its new offering, presents an unbiased analysis of the global swab and viral transport medium market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the swab and viral transport medium on the basis of type (swab type [nasal swabs, nasopharyngeal swabs, throat swabs] and transport medium), application (viral infection diagnosis [COVID-19, influenza, herpes simplex virus, varicella, zoster virus, others], and others), and end user (hospitals & clinics, microbiology laboratories, diagnostic laboratories, others), across major regions of the world (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
>>> To Get more insights on swab and viral transport medium market, visit- https://www.factmr.com/report/5221/swab-and-viral-transport-medium-market
About the Healthcare Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the healthcare team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the healthcare industry lucidly in 50+ countries for over a decade. The healthcare team at Fact.MR assists clients in their business expansion as well as new ventures, through hawkeyed analysis and strategic recommendations.