Global Bacterial and Viral Specimen Collection Market Size, Trends, & Analysis with COVID-19 Impact - Forecasts to 2026 By Product (Bacterial Specimen Collection, Viral Specimen Collection), By Application (Diagnostics, Research), By End-Use (Hospitals & Clinics, Home Testing, Research Laboratories), By Region (North America, Europe, Asia Pacific and Rest of the World); and Company Market Share Analysis & Competitor Analysis
Bacterial and Viral Specimen Collection Market: Insights
The global bacterial and viral specimen collection market is estimated to witness a significant CAGR during the forecast period (2020-2026). The growing number of surgeries and infections and increasing expenditure on healthcare are some of the factors driving the market growth. Moreover, the growing demand for sample kits is one of the significant factors likely to drive market growth. The growing developments to provide for the error-free collection of laboratory-quality specimens are driving the market growth during the forecast period. The growing capital investments in the healthcare sector along with the increasing adoption of diagnostics tests are further expected to propel the market growth during the forecast period. However, the high implementation cost and stringent government rules and regulations are some of the factors likely to hamper the market growth during the forecast period.
Bacterial and Viral Specimen Collection Market: By Product
Based on the product, this market is fragmented into bacterial specimen collection and viral specimen collection. The largest market share in terms of revenue contributed to this market is the bacterial specimen collection segment during the forecast period. The growing prevalence of tuberculosis is one of the major factors expected to propel the market growth for the bacterial specimen collection segment. Bacterial culture specimens should be transported at room temperature. A wide-scale TB diagnosis stimulates the adoption of multiple devices acquiring bacterial specimens. Amongst all the products, the viral specimen collection segment is expected to be the fastest-growing at a high compound annual growth rate during the forecast period. This is attributed due to the growing developments in virus infection detection that are driving the market growth. Viral culture specimens should be transported to the laboratories quickly on cold packs or ice. Recommended information on infection prevention is available for people obtaining medicinal specimens in hospitals and other healthcare environments, and for laboratory workers.
Bacterial and Viral Specimen Collection Market: By Application
Based on the study of the application, this market is bifurcated into diagnostics and research. The largest market share in terms of testing contributed to this market is the diagnostics application segment. This is attributed to the number of FDA-approved swabs, specimens, and media collections for clinical applications. These are some of the driving factors that are expected to propel the market growth. The consequence is a deliberate attempt by the government to take preventive action against adenovirus, rhinovirus influenza, coronavirus, and TB.
Bacterial and Viral Specimen Collection Market: By End-Use
Based on the study of end-use, the market is segmented into hospitals & clinics, research laboratories, and home testing. The hospitals & clinics segment is expected to be the fastest-growing segment and the largest shareholder in terms of revenue during the forecast period. The investments in the healthcare and medicinal industries and the growing health-related diseases, and increasing the rate of use of bacterial and viral specimen collection items in hospitals and clinics are some of the key factors expected to propel the market growth during the forecast period.
Bacterial and Viral Specimen Collection Market: By Region
Based on the region, this market split into North America, Asia-Pacific, MEA, CSA, and Europe. North America region is expected to be the largest revenue contributor over the coming years. Improving the medical infrastructure and focusing on effective management and diagnosis of microbial infections are some of the key drivers of market growth. Moreover, the increasing adoption of these products will generate revenue in the region over the coming years. Furthermore, the Asia-Pacific region is projected to be the fastest-growing region at a high CAGR during the forecast period. The rising adoption of new technologies coupled with the increasing demand for specimen collections in developing countries such as Singapore, and India to improve healthcare will add fuel to the growth of the market in the region.
Bacterial & Viral Specimen Collection Market Share & Competitor Analysis
Some of the key players operating in the Bacterial and Viral Specimen Collection market include Puritan Medical Products, COPAN Diagnostics, Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., Quidel Corporation, Longhorn Vaccines and Diagnostics, LLC, Pretium Packaging, Trinity Biotech, Medical Wire & Equipment, HiMedia Laboratories, Hardy Diagnostics, Nest Scientific, VIRCELL S.L., DiaSorin, and Titan Biotech, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The global Bacterial and Viral Specimen Collection Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Bacterial and Viral Specimen Collection Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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