COVID-19 Sample Collection Kits Market Estimated to Expand at a Robust CAGR by 2027

09/dic/2020 11:15:15 Grand View Research Contatta l'autore

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The global COVID-19 sample collection kits market size is expected to account for USD 3.9 billion by 2027, expanding at a CAGR of 4.9% over the forecast period, according to a new report by Grand View Research, Inc. The incorporation of 3-D printing technology is expected to enhance the production processes of the kits. The advent of 3-D printed swabs addresses the emergency shortages faced during the testing of coronavirus infection, which is expected to drive the market. Recently, in April 2020, the University of South Florida Health along with Northwell Health and Formlabs generated 3-D printed nasal swabs for safe and effective COVID-19 testing in patients.

Regulatory bodies are encouraging the development of efficient tests to ensure accurate and reliable diagnosis. Recently, in April 2020, the U.S. Food and Drug Administration (FDA) authorized the first at-home COVID-19 test, Pixel by LabCorp allowing patients to collect samples at home. This diagnostic test makes use of a Q-tip cotton nasal swab. This approval has enhanced the availability of a convenient and reliable at-home sample collection alternative for patients.

Several funding programs are expected to drive the production of sampling kits globally. For instance, in May 2020, Apple awarded USD 10 million to COPAN Diagnostics, an Italian company engaged in the production of sample collection kits, from its Advanced Manufacturing Fund. This funding would allow COPAN to boost its production and supply of kits from several thousand, currently, to more than 1 million COVID-19 sample collection kits per week by early July 2020.

COVID-19 Sample Collection Kits Market Report Highlights

·         The swabs segment is estimated to account for the largest revenue share with 43.0% as nasopharyngeal swabs are the preferred choice of specimen collection for upper respiratory tract infections as per recommendations of the World Health Organization (WHO)

·         In addition, the large volume and usage rate of swabs can be attributed to the highest share of this product segment in the global market

·         The diagnostics application segment accounts for the largest revenue share and is expected to expand at the fastest CAGR over the forecast period. This is attributed to the expansion of molecular diagnostic screening that has led to an increased usage of swabs and viral transport media for diagnostic applications

·         A large volume of tests performed in hospitals and the efforts undertaken to improve the diagnostic methods for COVID-19 result in the dominant share of hospitals and clinics. For instance, Indian hospitals have designed airtight cabins for collecting swab samples for coronavirus testing to prevent the infection from spreading

·         Europe accounted for the largest revenue share with the highest number of coronavirus cases globally. Domestic laboratories in Germany are conducting up to 160,000 tests per week. This rapid mass testing of coronavirus in Germany contributes to the region’s largest share

·         Key market players, such as COPAN Diagnostics, Becton Dickinson, Puritan Medical Products, and Thermo Fisher, are constantly boosting the production of these kits

·         As reported in March 2020, Puritan Medical Products was engaged in the production of around 800,000 to 1 million swabs per week for testing coronavirus infection to overcome the shortages of swabs

 

COVID-19 Sample Collection Kits Market Segmentation

Grand View Research has segmented the global COVID-19 sample collection kits market on the basis of product, application, site of collection, and region:

COVID-19 Sample Collection Kits Product Outlook (Revenue, USD Million, 2020 - 2027)

·         Swabs

o    Nasopharyngeal (NP) swabs

o    Oropharyngeal (OP) swabs

o    Others

·         Viral Transport Media

·         Blood Collection Kits

·         Other Consumables

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/covid-19-sample-collection-kits-market

COVID-19 Sample Collection Kits Application Outlook (Revenue, USD Million, 2020 - 2027)

·         Diagnostics

·         Research

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