(MENAFN- Ameliorate Digital Consultancy) The Europe Swab Sticks Market accounts for the largest market share of 35.3%. The regional market is projected to register a CAGR of 6.3% during the forecast years.

Global sales of swab sticks are estimated to be valued at US$ 1.79 Bn in 2022. Looking ahead, the global swab sticks market is predicted to reach US$ 3.24 Bn by 2032, expanding at a CAGR of 6.1% from 2022 to 2032. Swab sticks have seen eye-catching demand increase in recent years, especially with the onset of the COVID pandemic. The global medical swab market is bolstered by their ease of use, low cost, and quick screening. Availability of diverse swabs and shaft materials is boosting their application in various industries other than healthcare.

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Key Takeaways from Market Study:

• Sterile swab sticks are expected to garner an absolute $ opportunity of nearly US$ 1.45 Bn over the forecast period (2022-2032).
• Demand for synthetic swab sticks is projected to grow 1.8X during forecast period, while non-synthetic swab sticks are expected to continue their dominance over the forecast period
• On the basis of application, specimen collection is projected to dominate the swab sticks market by accounting for over 65% market share by 2032.
• The disinfection/ cleaning segment is expected to garner an absolute $ opportunity of nearly US$ 298.5 Mn over the forecast period.
• Diagnostic laboratories are estimated to account for 42.5% market share by 2032, and are expected to gain 20 BPS over the same time period.

Competitive landscape:

The global swab sticks market is partially consolidated in nature owing to the highly-efficient production capacity of leading swab stick manufacturers.

Leading swab stick producers are adopting hybrid growth strategies, i.e., both organic and inorganic. Inorganic strategies such as collaborations and partnerships are helping market players enhance their consumer base and global penetration.

Also, product innovation, as an organic strategic approach, is being adopted by leading companies to cater to market demand by using technical advancements during the pandemic; for instance, 3D-printed swabs accelerated swab stick production during the pandemic.

• Puritan, in April 2021, announced the launch of innovative products and the registration of new patents to protect its innovations. The U.S. Patent and Trademark office issued new patents to protect its innovative flocked swab technology.
• Hologic Inc., in January 2021, acquired Diagenode , a European developer and manufacturer of molecular diagnostics assay products.

Fact has provided detailed information about the price points of key manufacturers of swab sticks positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Key Companies Profiled:

• BD
• PURITAN
• COPAN
• DELTALAB
• Hologic Inc.
• Formlabs
• OraSure Technologies
• Hygiena
• AdvaCare
• Aptaca
• Other Market Players

Swab Sticks Industry Survey By Category:

· By Sterility:

• Sterile Swab Sticks
• Non-sterile Swab Sticks

· By Tip Material:

• Cotton swab stick
• Synthetic swab stick

· By Shaft Material:

• Paper Swab Sticks
• Metal/Wire Swab Sticks
• Plastic Swab Sticks
• Wood Swab Sticks

· By Application:

• Specimen Collection
• Disinfection/ Cleaning
• Others

· By End Use:

• Hospitals and ASCs
• Diagnostic Laboratories
• Specialty Clinics
• Pharmaceutical Industry
• Research and Development Centers
• Others

· By Sales Channel:

• B2B Sales of Swab Sticks
• B2C Sales of Swab Sticks
  • Online Retailing
  • Pharmacy and Drug Store

· By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & ASEAN
• Oceania
• MEA

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How will be insights and market estimations provided in the Fact report on the Demand of Swab Sticks make a difference?

• The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
• The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
• The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
• Provides scrutiny of the industry trends that have shaped recent government policies
• Provides an account of major breakthroughs in all segments that might change the course of the market considerably
• Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Swab Sticks Market
• Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
• Evaluates the role of various stages of funding on new growth avenues in key regional markets

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