COVID-19 Sample Collection Kits Market– Statistics And Analysis & Forecast To 2030

Posted by Mrudula Karmarkar on October 6th, 2022

The global COVID-19 sample collection kits market size is expected to reach USD 3.03 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.7% from 2022 to 2030. The continuous approval of diagnostic tests for effective diagnoses of SARS-CoV-2 infection raises the demand for sample collection products, such as swabs and Viral Transport Media (VTM). In addition, a shortage of testing materials such as swabs, reagents, and others has resulted in the proliferation of new players in the space, thereby driving the market revenue.

The regulatory agencies are playing a major role as the key driving force of the market, by safeguarding the product efficiency and accelerating new approvals. For instance, in June 2021, TaqPath COVID-19 Fast PCR Combo Kit 2.0 was introduced by Thermo Fisher Scientific. The kit has an innovative assay design that identifies and diagnoses existing and new COVID-19 variations accurately. The kit has a two-hour turn - around time and includes high-frequency testing. Such developments are aimed at the comfort and convenience of patients, along with minimizing the infection risk for healthcare professionals.

Furthermore, constantly expanding global financing to boost the swab production, which is currently the need of the hour, foment organic revenue growth. Some funding agencies operating in the space are the Washington Entrepreneurial Research Evaluation and Commercialization Hub (WE-REACH), the Foundation for Innovative New Diagnostics (FIND), and the U.S. Department of Health and Human Services (HHS).

SARS-CoV-2 sampling is the most critical step in the effective diagnosis of active infection. False and imprecise specimen collection may lead to wrong or misleading test results. As a result, the Centers for Disease Control and Prevention (CDC) and other healthcare organizations have introduced standard procedures and guidance for effective specimen collection and streamlining the usage of COVID-19 sample collection solutions, thereby driving the market. In October 2021, the FDA granted Labcorp an Emergency Use Authorization (EUA) for a combination home collection kit that may detect COVID-19 plus influenza A/B in children as young as two years old. Those who match clinical standards, such as having symptoms, being contacted by someone with COVID-19, or being requested to be diagnosed by a health care physician, will receive the kit free of charge.

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The key stakeholders have collaborated with regional authorities and suppliers for preserving the manufacturing conditions and accelerating the company’s growth in swabs and the viral transport medium market. With the ongoing surge in demand due to the COVID-19 outbreak, companies are focusing on strategic products to maximize product output and supply. Moreover, there have been 424,822,073 confirmed cases of COVID-19 till February 2022, as per the WHO. As the number of COVID-19 cases rises, more COVID-19 collection kits are required, thereby boosting the growth of the market in the forecast period.

COVID-19 Sample Collection Kits Market Report Highlights

  • By product, swabs held the largest revenue share of over 40.0% in 2021. The Centers for Disease Control and Prevention (CDC) and the WHO have recommended nasopharyngeal swab-based diagnostic tests as the preferred mode of testing for SARS-CoV-2 detection. The large volume and usage rate of nasopharyngeal and oropharyngeal swabs has contributed to the growth of this product in the global market
  • The diagnostics application segment accounted for the largest revenue share in 2021. A continuous increase in the number of approvals by the U.S. FDA has significantly propelled segment growth
  • By the site of collection, hospitals and clinics led the market in 2021 owing to a large volume of tests carried out in the hospitals, coupled with the establishment of new hospitals, specially dedicated to COVID-19 care
  • The U.S. dominated the North American market in 2021 owing to the largest number of cases and tests carried out in the country. The presence of key players such as COPAN Diagnostics and Roche in the region contributes to the region’s total revenue
  • Key participants operating in the space, such as Thermo Fisher, Becton Dickinson, COPAN Diagnostics, and Puritan Medical Products, are constantly boosting their production and supply
  • For instance, in February 2022, Becton, Dickinson, and Company partnered with ReturnSafe to incorporate its BD Veritor At-Home Covid-19 test directly into the ReturnSafe testing management system. The BD Veritor At-Home Covid-19 test allows consumers to test without a supervisor at home while providing authentic results since test results can only be viewed with a smartphone. Moreover, in May 2021, New real-time PCR kits and serological tests developed by Vircell were emerging as a possible tool to deal with new emerging variants

The presence of a substantial number of well-established, small, and medium-sized players has led to an increase in the market competition. Each player is undertaking multiple business strategies to gain a competitive edge in the market. With the outbreak of COVID-19, Puritan Medical Products and COPAN Diagnostics have witnessed lucrative growth in their revenue. For instance, COPAN UniVerse aids in the implementation of a recently launched streamlined approach to pooled serial screening testing programs. Moreover, in April 2021, Puritan keeps innovating by receiving two new patents for its HydraFlock and PurFlock Ultra swabs.

Some prominent players in the global COVID-19 sample collection kits market include:

  • Puritan Medical Products
  • COPAN Diagnostics
  • Becton, Dickinson and Company
  • Thermo Fisher Scientific, Inc.
  • Laboratory Corporation of America Holdings
  • Lucence Diagnostics Pte Ltd.
  • Hardy Diagnostics
  • Trinity Biotech
  • Quidel Corporation
  • Quest Diagnostics
  • Danaher Corporation
  • Vitagene Inc.
  • Formlabs
  • HiMedia Laboratories

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Mrudula Karmarkar

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Mrudula Karmarkar
Joined: March 30th, 2020
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