Virology Specimen Collection Market Current and Future Projection 2022-2032

Posted by Ganesh Shinde on November 24th, 2022

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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Ganesh Shinde

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Ganesh Shinde
Joined: October 27th, 2022
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