Specimen Container Market Forecast and CAGR
According to the assessment, the Specimen Container market is projected to witness growth over 6% to 8% CAGR during the assessment period of 2021 to 2031. Demand for specimen containers will witness high growth in the short term, with an optimistic growth outlook in the long run.
Subdued demand from various end-use applications will create significant opportunities in near future, however, sales of containers from healthcare facilities, laboratories, and other end-use applications for the collection and transport of patient samples including urine, sputum, and others will provide momentum.
What is Driving Demand for Specimen Container?
Growing demand from diagnostic laboratories, healthcare facilities, and other end users for various end-use applications will continue to drive demand for specimen collection containers.
An increase in the swab specimen collection by laboratories with the outbreak of COVID-19 has shaped demand for at-home sample collection services for patients has created prominence for the usage of specimen collection containers.
The COVID-19 pandemic has created prominence for specimen collection containers across the globe. Increasing coronavirus cases across the globe is expected to have a positive impact on the specimen container market.
Further, patient samples collection including urine, sputum, and others is a common method for examining and detecting the various diseases from samples including the COVID-19 virus in the body. This trend has pushed the growth of the specimen collection container market in terms of value as well as volume sales.
The market for diagnostic medical devices is growing at an immense rate, backed by the rising population and modernization of healthcare infrastructure, owing to which a substantial increase in the number of health care facilities across the globe has been observed. This has resulted in expanding diagnostic laboratory infrastructure across the globe will provide a moment for the specimen collection container market.
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Diagnostic Laboratories is Likely to Augment Specimen Container Sales
Specimen container sales around the globe have been created outstanding demand with the outbreak of COVID-19 and induced lockdown. This also had a significant demand for at-home sample collection from diagnostic laboratories across the globe. As the specimen container manufacturers are likely to witness sustained opportunities in the future from customers across the world.
Containers are used extensively used in healthcare facilities, laboratories and other end use applications for patient samples collection and to examine the various collected samples. Although lockdown and shelter-at-home guidelines have meant restricted production activities, sales are likely to improve over the course of the assessment period.
India Specimen Container Market Outlook
India is one of the prominent markets for diagnostic medical device manufacturing globally. Indian specimen containers market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031. Demand is likely to grow in the next couple of years, as a number of end users make gradual growth with pre and post covid-19 pandemic circumstances across the country.
Demand for specimen collection container in India will account for high demand from the healthcare facilities, diagnostic laboratories, and other end users as demand for containers will continues to grow over the forecast period. India’s diagnostic medical device exports is likely to surge drastically over a period and beyond, and this will continue to benefit specimen collection container manufacturing companies.
Indian diagnostic medical device sales have significant demand from Indian and global markets from end-users with the COVID-19 pandemic. Diagnostic medical devices manufacturers face a challenging year with higher demand from the healthcare facilities, diagnostic laboratories, however, there is growing optimism that high growth rates over the forecast period. The momentum is likely to hold ground, which will provide a stimulus to a range of specimen collection containers.
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US Demand Outlook for Specimen Container
Countries in North America have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. North America hold significant share in the diagnostic medical device exports, which in turn continues to drive demand for specimen containers.
Despite the COVID-19 challenges, most North America countries have maintained a steady growth in production, sales and exports in 2020. US is the major prominent players in the region, creating opportunities for diagnostic medical device to cater the demand from healthcare industry.
Who are the Key Manufacturers and Suppliers of Specimen Container?
Some of the leading manufacturers and suppliers include
- Cardinal Health
- Sterimed Group
- Envases Group
- Dickinson and Company
- Thermo Fisher Scientific
- Kartell P.I.
- SARSTEDT AG & Co. KG
- FL MEDICAL s.r.l.
- VITLAB GmbH
- Wanpow Plastic Industries Sdn Bhd.
- Medline Industries Inc.
- Levram Lifesciences Pvt. Ltd.
An Adaptive Approach to Modern-day Research Needs
Specimen Container Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Material Type
- 4 OZ – 8 OZ
- 9 OZ – 16 OZ
- 17 OZ – 32 OZ
- 33 OZ – 68 OZ
- 69 OZ – 163 OZ
- 164 OZ and Above
- Narrow Mouth
- Wide Mouth
- Pour Spout
By End Use
- Healthcare Facilities
- Diagnostic Laboratories
- Academic and Research Institutes
- Biopharmaceutical Companies
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Germany, Italy, France, U.K., Spain, BENELUX, Russia
- South Asia Pacific
- India, ASEAN, Australia and New Zealand (ANZ)
- East Asia
- China, Japan, South Korea
- Middle East and Africa
- GCC Countries, Turkey, North Africa, South Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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