Virology Specimen Collection Market Current and Future Projection 2022-2032
According to a recent Virology Specimen Collection Market report by Future Market Insights (FMI), the motor monitoring market is anticipated to advance at a phenomenal CAGR of -0.5% over the forecast period 2022-2032. Additionally, the rising prevalence of viral infections like SARS-CoV-2, AIDS, flu, EBOLA, Zika virus, and STDs boosts the demand for virology specimen collection.
The emergence of the COVID-19 pandemic has altered medical
care delivery worldwide. The increased pressure caused by the rising rate of
COVID-19 hospitalisation had resulted in the re-profiling of many hospitals and
departments for treating COVID-19 patients. It has had a minor to moderate
impact on the growth of the virology specimen collection market.
The Zika and Babesia virus outbreaks, as well as
announcements about their inclusion in virology specimen collection tests,
highlight the need for innovation in virology specimen collection technologies,
consumables, laboratory testing, and instruments. Other countries have launched
initiatives to detect new and emerging diseases.
The high cost of technologies and collection kits, as well
as the use of flow sensitivity screening, are major impediments to the growth
of the virology specimen collection market.
Because of rising disposable incomes and improved
healthcare infrastructure, emerging markets such as India, the Middle East, and
Africa offer promising virology specimen collection opportunities for industry
participants.
The relatively high cost of laboratory testing has
increased the use of older and less practical tests, such as first-generation
ELISA. Despite its limitations, the test has been used in various parts of the
world.
The high costs of virology specimen collection products are
a critical factor limiting the market's growth momentum. It is critical to
reduce the costs of these products in order to generate demand for virology
specimen collection. Otherwise, it is expected to stifle the growth of virology
specimen collections in the coming years.
Various microbiology specimen collection mediums are
recommended during diagnostics investigations to stabilise specimens for the
detection of viruses and bacteria. As a result of these factors, the virology
swab sample market is expected to experience numerous growth opportunities in
the coming years. It is expected that public health will have a digital future,
and this will necessitate a critical alignment of international evaluation and
regulation strategies.
The market for virology specimen collection is highly
competitive. Only large corporations can afford large capital investments as
well as the costs of R&D and manufacturing. This makes it difficult for new
entrants to enter the virology specimen collection market.
Key Takeaways:
- North
America is expected to be at the forefront of future trends in the
virology specimen collection market, owing to increased adoption of NAT
and technological advancements such as portable diagnostics.
- By
product type, the bacterial specimen collection segment is expected to
lead the virology collection market trend. One of the significant factors
contributing to the segment's share is the high prevalence of tuberculosis
(TB).
- Due
to an increase in the number of FDA-approved specimen collection kits,
viral specimen transport, and virology swab sample for clinical
applications, diagnostic applications are expected to account for a
significant portion of the virology specimen collection market size.
- The
hospitals and clinics segment is expected to generate the most revenue by
end use, owing to an increase in patients with respiratory viruses and
bacterial infections.
- Because
of extensive coronavirus testing in Asian countries, the Asia Pacific
market for bacterial and virology sample collection is expected to grow
rapidly.
- The
nasopharyngeal sample segment is expected to hold sway due to rapid
detection of transmissible transfusion infections (TTIs) and the rising prevalence
of HPV-related cancers and human papillomavirus.
“Virology specimen collection tests emphasize the need for
virology specimen collection technology innovation and adoption, consumables,
and instruments. This is projected to drive the demand for the virology
specimen collection market further.” opines an FMI analyst.
Competitive Landscape:
A few notable virology specimen collection market
players include Puritan Medical Products Co. (UK), Trinity Biotech
(Ireland), Dickinson and Company (US), Thermo Fisher Scientific Inc. (US),
Vircell S.L. (Spain), Becton, Quidel Corporation (US), Titan Biotech Ltd.
(India), Diasorin SA (Italy), Copan Italia S.P.A (Italy), Hardy Diagnostics
(US).
These firms and companies are partnering &
collaborating with several domestic and international players as a part of
the emerging trends in the viral specimen collection market.
- Henkel
AG & Co. KGaA of Germany tied up with Origin of California to leverage
the latter’s expertise in performing robust mechanical testing at its
California facility. Henkel also contributed expertise and technology to
developing 3D printed nasopharyngeal swabs for COVID-19 testing and
several other recent developments in the virology specimen collection
market.
- Under a USD 6.0 million contract with
Inflammatix Inc., the US HHS supported the development of the
host-response testing technology. The company is working on three
diagnostic tests that will provide quick results on whether the infection
is bacterial or viral. This enables clinicians to make better-informed,
earlier treatment decisions. Such initiatives are also at the heart of the
companies’ strategy to expand earlier diagnosis.
Browse More Details@ https://www.futuremarketinsights.com/reports/virology-specimen-collection-market
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