The significance of efficient virology specimen collection market outlook has gained prominence as the world faces new viral threats and infectious diseases. This industry greatly supports public health initiatives by being essential to the early detection, surveillance, and study of viruses. Advances in specimen collecting, preservation, and transportation technologies and procedures are improving the precision and effectiveness of virological testing. The continuous innovation in the sector is in line with the increasing demand for accurate and quick diagnosis, especially in light of emerging viral threats. In the upcoming years, the Virology Specimen Collection Industry is expected to significantly impact the field of infectious disease management, primarily through enhancing diagnostic capacities and fortifying worldwide preparation.The worldwide enterprise for collecting virology specimens share, estimated at US$ 5.6 billion in 2021, is predicted to increase at a negative compound annual growth rate (CAGR) of -0.5% from 2022 to 2032.
The global delivery of medical treatment has been impacted by the COVID-19 epidemic. Numerous hospitals and departments that treat COVID-19 patients have had to reprofile due to the additional demand brought on by the rising rate of COVID-19 hospitalisation. Its effect on the market expansion for virology specimen collection has ranged from negligible to considerable.
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.
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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.
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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 viralspecimen 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.
- 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)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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