COVID-19 Sample Collection Kits Market Overview
Global COVID-19 Sample Collection Kits Market is expected to hold a value of USD 4168.35 Million by 2027 and is expected to register a growth of 5.20% from 2020 to 2027.
COVID-19 Sample Collection Kits Market Competitive Landscape
Some of the eminent players in the global COVID-19 sample collection kits market report are Thermo Fisher Scientific, Inc. (US), Hardy Diagnostics (US), BNTX Inc. (Germany), Formlabs (US), Medline Industries, Inc. (US), HiMedia Laboratories (India), VIRCELL S.L. (Spain), Puritan Medical Products (US), COPAN Diagnostics (California), Becton, Dickinson, and Company (US), Laboratory Corporation of America Holdings (US), Lucence Diagnostics Pte Ltd. (California)
COVID-19 Sample Collection Kits Market Dynamics
The high demand for sample collection kits as a result of the global epidemic of COVID-19, as well as government acceptance of innovative and advanced detection tests, are expected to fuel COVID-19 Sample Collection Kits Market growth. Everlywell, Inc. received an emergency use authorization (EUA) from the Food and Drug Administration (FDA) in May 2020 for the COVID-19 Test Home Collection Kit. The device is a nasal swab sample selection kit that can be used at home and sent to specific laboratories for COVID-19 diagnostic testing. As a result, demand for sample collection kits is increasing. SARS-CoV-2 screening is the most important step in determining whether or not an infection is active. False or incorrect specimen collection can result in inaccurate or misleading test results. As a result, the Centers for Disease Control and Prevention (CDC) and other healthcare organisations have developed uniform procedures and guidelines for successful specimen collection and have streamlined the use of COVID-19 sample collection solutions, resulting in increased development. In the current situation, with global lockdown in place, core actors are working overtime to sustain swab and transport media supply and growth scales.
Furthermore, the discovery of antibodies, increased government spending, huge amount of drugs, and high swab use rate are projected to drive market growth. The company's core stakeholders have worked together with regional authorities and manufacturers to maintain production conditions while also driving demand in the swab and viral transport medium markets. Companies are focusing their resources on strategic goods to optimise commodity production and availability due to the current increase in demand induced by the COVID-19 outbreak.
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The lack of test-related supplies such as reverse transcription-polymerase chain reaction devices, swabs, and virus detection samples to control, on the other hand, is expected to stymie the demand during the review period. The demand is also predicted to be hampered by a scarcity of laboratory-based reagents.
COVID-19 Sample Collection Kits Market Segmentation
The global COVID-19 sample collection kits market has been segmented based on the product type, application, and end user.
On the basis of product type, the market has been segmented into swabs, viral transport media, blood collection kits, and others. The swabs segment is expected to rise at the highest rate.
Based on application, the market has been segmented into diagnostic, and research. The diagnostic segment is expected to rise at the fastest rate, while the analysis segment is expected to grow at the fastest rate.
The industry has been divided into hospitals and laboratories, diagnostics centres, and others depending on the end customer. The diagnostic centre is expected to develop at the highest pace while the Hospitals and clinics is likely to witness the largest market share.
COVID-19 Sample Collection Kits Market Regional Analysis
Laboratory Corporation of America (LabCorp) is the first diagnostic research manufacturer for COVID-19 at-home specimen collection package, according to the US Food and Drug Administration (FDA) in April 2020. During the forecast period, this is anticipated due to the strong demand for sample collection kits throughout the American region.
Furthermore, the World Health Organization (WHO) and the European Centre for Disease Prevention and Control (ECDC) worked rapidly to establish laboratory needs and capacities in the European region. As a result of an increase in the number of confirmed cases of COVID-19, sample collection kits are available for laboratory tests and identification, which is expected to fuel market development.
In Asia and the Pacific, Because of the COVID-19 epidemic, the Asian Development Bank (ADB) launched a USD 6.5 billion assistance package for the Asia-Pacific region in March 2020. The Asia Pacific area, on the other hand, is expected to rise at a healthy CAGR over the projected period. Since there is an apparent gap between demand and purchasing ability for infectious control interventions such as vaccination, pandemics tend to affect nations with fragile and underfunded healthcare services the hardest.
The Middle East and Africa area is more in need of infrastructure growth and technological innovation. This results in a lack of growth in the healthcare sector, resulting in a decline in sample collection kit demand on the market. To resolve this, industry growth is projected to be fueled by advances in production and technology.
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