The global virology specimen collection market, valued at USD 5.6 Billion in 2021, is poised to expand despite facing challenges such as a negative Compound Annual Growth Rate (CAGR) of -0.5% during the forecast period of 2022 to 2032, according to a new report released today.
Key factors driving the growth of the market include the emergence of various viruses worldwide, prompting research institutes and healthcare sectors to prioritize the collection of virus specimens. Moreover, advancements in technology within the field of specimen collection are streamlining processes and facilitating information exchange among nations for research purposes.
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Government authorities’ contributions to support the expansion of virus specimen collection and testing are reshaping the dynamics of the virology specimen market, indicating a promising outlook for the industry.
Despite experiencing a slowdown during the COVID-19 pandemic due to nationwide lockdowns, the necessity for virus specimen testing surged to mitigate the spread of viruses, underscoring the critical role of virology specimen collection in public health crises.
“With technological advancements facilitating the exchange of vital information on viruses, coupled with the evolving nature of viruses due to mutations, the virology specimen collection market is gaining traction,” said Future Market Insights.
The report also highlights the significance of innovation in virology specimen collection technologies, consumables, and instruments, particularly in response to outbreaks such as Zika virus and Babesia, which have underscored the need for cutting-edge solutions in the field.
Moreover, initiatives undertaken by various countries to monitor and combat new and emerging diseases, coupled with the prevalence of diseases such as EBOLA, Zika virus, SARS-CoV-2, AIDS, flu, and STDs, are further propelling the growth of the virology specimen collection market.
Key Takeaways:
- North America is anticipated to be at the forefront of the virology specimen collection market future trends, which can be attributed to the increasing adoption of NAT and technological advancements such as portable diagnostics.
- The bacterial specimen collection segment is projected to lead the virology collection market trend by product type. The high prevalence of tuberculosis (TB) is one of the significant factors contributing to the share of the segment.
- Diagnostic applications are expected to account for a significant portion of the virology specimen collection market size due to a spike in the number of FDA-approved specimen collection kits, transport of viral specimen, and virology swab sample for clinical applications.
- By end use, the hospitals and clinics segment is anticipated to generate the most revenue, owing to an uptick in patients with respiratory viruses and bacterial infections.
- The Asia Pacific market for bacterial and virology sample collection is expected to grow at a rapid pace because of extensive coronavirus testing in Asian countries.
- By technology, the segment of the nasopharyngeal sample is estimated to hold sway on account of rapid detection of transmissible transfusion infections (TTIs) and the rising prevalence of HPV-related cancers and human papillomavirus (HPV).
“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.
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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.
Key Segments:
By Product Type:
- Blood Collection Kits
- Specimen Collection Tubes
- Viral Transport Media
- Swabs
By Sample:
- Blood Samples
- Nasopharyngeal Samples
- Throat Samples
- Nasal Samples
- Cervical Samples
- Oral Samples
- Other Samples
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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