According to a new report by Grand View Research, Inc., the global market size for COVID-19 sampling kits was estimated to be $ 2.8 billion in 2020 and is expected to grow at an average annual growth rate (CAGR) of 4.9% from 2020 grow until 2027.
COVID-19 sampling kits market growth and trends
The globe Market for COVID-19 sampling kits Size is expected to be considered $ 3.9 billion by 2027, expanding at a CAGR of 4.9% According to a new report by Grand View Research, Inc., the incorporation of 3D printing technology in the forecast period will improve the production processes of the kits. The advent of 3D-printed swabs addresses the emergency deficiency that occurs when testing the coronavirus infection that is expected to drive the market. Recently, in April 2020, the University of South Florida Health, together with Northwell Health and Formlabs, created 3-D printed nasal swabs for safe and effective COVID-19 testing in patients.
Regulators encourage the development of efficient tests to ensure accurate and reliable diagnosis. Recently, in April 2020, the U.S. Food and Drug Administration (FDA) approved the first COVID-19 test at home, Pixel by LabCorp, that allows patients to take samples at home. This diagnostic test uses a Q-tip cotton swab. This approval has improved the availability of a convenient and reliable alternative for patient sampling at home.
Several funding programs are expected to drive the production of sampling kits worldwide. For example, in May 2020, Apple donated $ 10 million to COPAN Diagnostics, an Italian company that manufactures sampling kits from its Advanced Manufacturing Fund. This funding would enable COPAN to increase the production and delivery of kits from the current several thousand to over 1 million COVID-19 sampling kits per week by early July 2020.
Download the free sample report @
Highlights of the COVID-19 sampling kit market report
- The swabs segment is estimated to have the largest share of sales at 43.0%, as nasopharynx swabs are the preferred choice for taking samples from upper respiratory tract infections according to the recommendations of the World Health Organization (WHO).
- In addition, the large volume and rate of use of swabs is due to the highest share of this product segment on the world market
- The Diagnostic Applications segment accounts for the largest share of sales and is expected to expand with the fastest CAGR in the forecast period. This is attributed to the expansion of molecular diagnostic screening, which has led to an increased use of swabs and viral transport media for diagnostic applications
- A large number of tests in hospitals and efforts to improve the diagnostic methods for COVID-19 lead to a dominant share of hospitals and clinics. For example, Indian hospitals have designed airtight booths to collect swab samples for coronavirus testing to prevent the spread of infection
- Europe had the largest share of sales with the highest number of coronavirus cases worldwide. Domestic laboratories in Germany carry out up to 160,000 tests per week. This rapid mass coronavirus test in Germany contributes to the majority of the region
- Major market players such as COPAN Diagnostics, Becton Dickinson, Puritan Medical Products and Thermo Fisher are constantly increasing the production of these kits
- As reported in March 2020, Puritan Medical Products produced approximately 800,000 to 1 million swabs a week to test for coronavirus infection and to overcome the lack of swabs
The global market size for COVID-19 sampling kits was estimated at $ 2.8 billion in 2020 and is expected to grow at an average annual growth rate (CAGR) of 4.9% from 2020 to 2027. An exponential increase in the number of COVID-19 cases and insufficient molecular test capacity in the laboratory are factors that have prompted several companies to develop fast and user-friendly tests that promote market growth. In addition, approval of synthetic swabs for use in diagnosing coronavirus infection and then increasing their production is expected to drive the market.
In April 2020, the Food and Drug Administration (FDA) approved the use of spun synthetic swabs similar to Q-Tips swabs developed for COVID-19 testing. This approval allows patients to collect samples themselves and minimize potential exposure to healthcare professionals. In addition, US cotton, one of the major US cotton swab manufacturers, is developing large-scale polyester swabs to effectively meet the growing need for COVID-19 diagnostic tests.
Some have specific questions Our team of analysts will be happy to help you with this report!
Sampling is the most important step in the laboratory diagnosis of several infectious diseases, including a coronavirus infection. Improper and inaccurate sampling can lead to incorrect or negative test results. Therefore, the Centers for Disease Control and Prevention (CDC) recommended a standard sampling procedure for sampling and transportation for SARS-CoV-2 tests. These regulatory guidelines have helped optimize the use of COVID-19 sampling kits.
The key participants are constantly accelerating the production and delivery of sampling kits. The volume of swabs arriving from COPAN Diagnostics, Italy, in the USA is continuously increasing. In March 2020, around 6 tons of swabs and in January 2020 4.5 tons of swabs were imported by COPAN into the US ports. On the other hand, Quest Diagnostics distributed around 2 million swab collection sets in the U.S. by May 2020. In addition, a significant number of companies from other sectors are helping the government to overcome the shortage of sterile medical swabs. As reported in May 2020, Royal DSM, a health, nutrition and materials company, entered the swab manufacturing market to address the lack of sampling products in the Netherlands. This is the first time the company has made swabs to meet the country’s testing requirements. The company also donates 11 tons of material needed for swab production in the country.
Some of the leading players in the COVID-19 sampling kit market are:
- Thermo Fisher Scientific, Inc.
- Puritan medical devices
- COPAN diagnosis
- Becton, Dickinson and Company
- Labor Corporation of America Holdings
- Lucence Diagnostics Pte Ltd.
- Hardy Diagnostics
- BNTX Inc.
- Formlabs
- Medline Industries, Inc.
- HiMedia Laboratories
- VIRCELL S.L.
As COVID-19 diagnostic testing continues to increase, several studies are underway to investigate different sampling approaches that provide accurate results. A research study found that saliva samples from patients with the infection offer better sensitivity and consistency than the widely used nasopharyngeal approach. It was also observed that the results obtained with saliva samples showed little variability, which is likely to expand the penetration of this approach in the future.
Check out special pricing optionsfor partial purchase and startup companies
Grand View Research has segmented the global COVID-19 sampling kit market by product, application, and location:
COVID-19 Sampling Kits Product Outlook (Revenue, $ million, 2020-2027)
- swab
- Nasopharyngeal (NP) swab
- Oropharyngeal (OP) swab
- Other
- Viral transport media
- Blood collection kits
- Other consumables
Application Outlook for COVID-19 Sampling Kits (Revenue, $ million, 2020-2027)
COVID-19 Sampling Kits Site of Collection Outlook (Revenue, $ million, 2020-2027)
- Hospitals & clinics
- Home test
About Grand View Research
Grand View Research, Inc. is a US-based market research and consulting firm based in California and headquartered in San Francisco. The company offers syndicated research reports, bespoke research reports and advisory services. To help customers make informed business decisions, we offer market research studies that ensure relevant and fact-based research across a range of industries, from technology to chemicals and materials to healthcare.
Media contact
Name of the company: Grand View Research, Inc.
Interlocutor: Sherry James, Corporate Sales Specialist – USA
E-mail: Send e-mail
Phone: 1-415-349-0058, toll free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
Status: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/covid-19-sample-collection-kits-market
This article originally appeared on www.abnewswire.com
