Bacterial And Viral Specimen Collection Market Is Expected To Generate A Revenue Of USD 20.2 Bn By 2033, At 8.5% CAGR: Dimension Market Research.

(MENAFN- GlobeNewsWire - Nasdaq) Advancements and Projections in the Global Bacterial and viral Specimen Collection Market: Insights, Trends, Opportunities, and Recent Developments

New York, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Overview

The Global Bacterial and Viral Specimen Collection market is projected to grow robustly, reaching USD 9.7 billion in 2024 and expected to achieve USD 20.2 billion by 2033, with an 8.5% CAGR.

The market growth is due to the increasing incidences of infectious disease and the importance of collection swabs, transport media, and blood sampling sets in diagnostics and research. Bacterial specimen collection occupies the biggest portion of the agar market because of the numerous applications in medical practice and research.

Players such as Thermo Fisher Scientific and Becton, Dickinson, and Company invest much in developing innovative solutions for the increased demand for an accurate diagnosis of diseases.

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The US Bacterial and Viral Specimen Collection Market

The US bacterial and viral specimen collection market is projected to reach USD 3.7 billion in 2024, growing to USD 7.3 billion by 2033 at an 8.0% CAGR.

This growth is thus spurred by high healthcare costs, well-developed infrastructure, and the growing need for precise and speedy results. It is claimed that a constant improvement in transport media methodology and blood collection kits helps the market together as well as increased points of care and home tests.

Such factors prolong the growth in the relevant sector, always highlighting the importance of the US market in the international context, especially in bacterial specimen collection.

Important Insights

• Market Size: The global market for bacterial and viral specimen collection is estimated to be USD 9.7 billion in 2024, projected to reach USD 20.2 billion by 2033.
• US Market: In 2024, the US market for bacterial and viral specimen collection is expected to reach USD 3.7 billion , growing at an 8.0% CAGR.
• Global Growth Rate: The market is expanding at a CAGR of 8.5% throughout the forecast period.
• Product Segment Analysis: Bacterial specimen collection is projected to dominate the product segment with a 64.1% market share by 2024.
• Application Segment Analysis: Diagnostics are expected to lead with a 66.1% market share in the global bacterial and viral specimen collection market in 2024.
• End-User Segment Analysis: Hospitals and clinics are anticipated to dominate the end-user segment with the highest market share by the end of 2024.
• Regional Analysis: North America is poised to hold the largest market share globally, accounting for approximately 45.1% in 2024.

Latest Trends

• Rising Infectious Diseases: A rise in the incidence of bacterial and viral infections in the global population is currently boosting the need for efficient specimen collection procedures. This trend contributes to market development because diseases that are pandemic, for example, COVID-19 or influenza, remain present and do not leave the daily lives of people.
• Technological Advancements: Technological advancement in specimen collection equipment, specifically in specimen collection technology, has increased the chances and precision of collection.

Bacterial and Viral Specimen Collection Market: Competitive Landscape

• Some of the chief stakeholders in the global bacterial and viral specimen collection market are Thermo Fisher Scientific, Becton, Dickinson and Company, and Longhorn Vaccines and Diagnostics. Some of their products include Swabs, Transport Media, and Blood Collection kits suitable for Hospitals, Clinics, and Research laboratories.
• Market competition is a major factor in the formation of various strategies and joint ventures to gain a larger market share. There has therefore been the noted market uptake of advanced specimen collection kits integrated with highly reliable Thermo Fisher Scientific transport media.
• Local companies are also involved in the manufacturing of diagnostic tools, and they meet the local market demand and compliance, thereby incrementing the market growth as the infections increase globally.

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Some of the prominent market players:

• Puritan Medical Products
• COPAN Diagnostics
• Becton, Dickinson and Company
• Thermo Fisher Scientific, Inc.
• Quidel Corporation
• Longhorn Vaccines and Diagnostics, LLC
• Premium Packaging
• Trinity Biotech
• Medical Wire & Equipment
• HiMedia Laboratories
• Hardy Diagnostics
• Nest Scientific
• VIRCELL S.L.
• Other Key Players

Bacterial and Viral Specimen Collection Market Scope

Report Highlights	Details
Market Size (2024)	USD 9.7 Bn
Forecast Value (2033)	USD 20.2 Bn
CAGR (2024-2033)	8.5%
North America Revenue Share	5.1%
The US Market Size (2024)	USD 3.7 Bn
Historical Data	2018 - 2023
Forecast Data	2024 - 2033
Base Year	2023
Estimate Year	2024
Segments Covered	By Product, By Application, By End User
Regional Coverage	North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Market Analysis

Bacterial specimen collection is poised to dominate the market with a projected 64.1% share by 2024. Essential for diagnosing infections like tuberculosis and pneumonia, swabs (nasal, throat, rectal) are versatile and easy to use. Bacterial transport media (liquid, solid, semi-solid) maintain specimen integrity during transport, crucial for accurate diagnosis.

Blood collection kits are vital for bloodstream infection diagnostics, alongside urine and sputum collection kits. Ongoing R&D enhances diagnostic precision, reinforcing bacterial specimen collection's market leadership.

Bacterial and Viral Specimen Collection Market Segmentation

By Product

• Bacterial Specimen Collection
  • Swabs
    • Nasal Swabs
    • Throat Swabs
    • Rectal Swabs
    • Other Swabs
  • Bacterial Transport Media
    • Liquid Media
    • Solid Media
    • Semi-solid Media
  • Blood Collection Kits
  • Other Consumables
• Viral Specimen Collection
  • Swabs
    • Nasopharyngeal Swabs
    • Oropharyngeal Swabs
    • Other Swabs
  • Viral Transport Media
    • Universal Transport Media (UTM)
    • Specific Viral Transport Media
  • Blood Collection Kits
    • Serum Collection Kits
    • Plasma Collection Kits
  • Other Consumables

By Application

• Diagnostics
  • Routine Diagnostic Testing
  • Point-of-Care Testing
  • Specialized Diagnostic Testing
• Research
  • Clinical Research
  • Epidemiological Studies
  • Vaccine Development
  • Drug Development

By End User

• Hospitals & Clinics
• Home Test
• Research Laboratories

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Growth Drivers

• Increased Healthcare Spending: The rise in overall health costs in both developed as well as developing countries leads to the need to embrace better collection kits. This investment in improving the healthcare infrastructure also increases the diagnostic profile and drives growth in the market.
• Government Initiatives: An increase in awareness regarding the early detection of diseases through public health programs and government support augments the market growth. This factor benefits the industry by promoting the safety and efficacy of products meant for collections of specimens, thus driving market advancement.

Restraints

• High Cost of Advanced Products: High-end specimen collection products are early priced; thus, they restricted market access, especially in a small setting. Cost is an issue and this affects the widespread use of such devices despite the unbelievably high efficiency.
• Regulatory Complexity: Concerns for compliance with regulatory standards and other such factors affect the product development process and time for commercialization, and hence, the costs. These unique standards make the markets more complex across regions and possibly slow growth rates.

Growth Opportunities

• Em erging Markets Expansion: Asia-Pacific, Latin America, and African countries with emerging economic systems are expanding expenditures in health sectors and diagnostics. This leads to an opportunity for the existence or creation of a higher demand for more accurate specimen collection products, thus establishing the market.
• Advancements in Product Development: Specimen collection includes automated systems and transport media that entail continuous research and development to provide growth potential. Innovative ventures acquire competitive strengths in the market avenues since the companies mainly invests in high-potential endeavors.

Regional Analysis

North America is poised to dominate the global bacterial and viral specimen collection market with a projected 45.1% market share in 2024. Its advanced healthcare infrastructure and substantial healthcare spending facilitate the widespread adoption of specimen collection products.

The region's high burden of bacterial and viral infections drives demand for efficient collection methods. Major players like Thermo Fisher Scientific and Becton, Dickinson, and Company bolster North America's leadership through continuous R&D investments. Strong regulatory frameworks ensure product quality and safety, enhancing trust among healthcare providers and patients and supporting market growth.

By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

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Recent Developments in the Bacterial and Viral Specimen Collection Market

• June 2024: Thermo Fisher Scientific launched an advanced swab and transport media kit for rapid viral specimen collection, aiming to enhance collection efficiency and diagnostic accuracy.
• May 2024: Becton, Dickinson, and Company introduced new blood collection kits for improved safety and efficiency in clinical settings.
• April 2024: Longhorn Vaccines and Diagnostics expanded its portfolio with innovative bacterial transport media for enhanced specimen stability.
• March 2024: Puritan Medical Products partnered with major hospitals to supply specialized swabs for routine diagnostic testing.
• February 2024: Copan Diagnostics unveiled an automated specimen collection system to streamline sample collection in laboratories.
• January 2024: Medline Industries launched a training program for healthcare professionals on best practices in specimen handling.
• December 2023: Hardy Diagnostics introduced semi-solid bacterial transport media to improve specimen viability during transportation.
• November 2023: Roche Diagnostics released advanced viral transport media for rapid and reliable transport of viral specimens.

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About Dimension Market Research (DMR):

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