Global COVID-19 Sample Collection Kits Market Insights Forecasts to 2030
- The global COVID-19 Sample Collection Kits Market was valued at USD 6.9 billion in 2021.
- The market is growing at a CAGR of 8.9% from 2021 to 2030
- The global COVID-19 Sample Collection Kits Market is expected to reach USD 32.7 billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period.
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The global COVID-19 Sample Collection Kits Market is expected to reach USD 32.7 billion by 2030, at a CAGR of 8.9% during the forecast period 2021 to 2030. The term "sample collection kit" refers to the essentials and reagents required for the collection of samples that will be used. These kits will be given to the laboratory performing the testing services on such a sample. As a result of the global spread of COVID-19, there is a significant increase in the need for sample collection kits, and the approval of new and more sophisticated detection tests by regulatory bodies is one of the primary drivers that is anticipated to fuel the development of the market.
The use of a wide range of swabs, media, and kits to evaluate the collected samples for the presence of COVID-19 is a result of the recent epidemic of a novel coronavirus (COVID-19) in 2019 (which has led to their widespread use). The CDC recommends that medical workers exclusively use swabs composed of synthetic fibre with plastic shafts for collecting and treating clinical specimens suspected to be infected with Coronavirus Disease 2019 (COVID-19). Only the nasopharyngeal (NP) swab should be collected for testing for Coronavirus Disease in 2019, according to the recommendations of the CDC (COVID-19). Oropharyngeal swabs, sometimes known as OP swabs, are still considered a valid specimen type. Swab tests with NP can be performed on asymptomatic individuals. An increase in COVID-19 testing anywhere in the world necessitates the establishment of a system that makes the collecting and transportation of samples simple, safe, and efficient. There have been several mergers and collaborations that have taken place to increase the production of sample test kits. These are some of the major and important factors likely to accelerate the growth of the COVID-19 sample market. The rising prevalence of the geriatric population, the rising volume of patients suffering from the Coronavirus across the globe, the increasing levels of funds and investment for the development of medicines and advanced machines for testing as well as diagnosis of the virus, and the various mergers and collaborations that have taken place. On the other hand, expanding government initiatives for the use of medication along with an increase in the number of public and private laboratories will further contribute by creating enormous opportunities that will help in the growth of the COVID-19 sample collection kits market in the previously mentioned anticipated timeframe.
This research report categorizes the market for global COVID-19 Sample Collection Kits based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global COVID-19 Sample Collection Kits market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global COVID-19 Sample Collection Kits market sub-segments.
Global COVID-19 Sample Collection Kits Market Report Coverage
|Market Size in 2021:||USD 6.9 billion|
|Forecast Period 2021-2030 CAGR:||8.9|
|2030 Value Projection:||USD 32.7 billion|
|Historical Data for:||2017-2020|
|No. of Pages:||230|
|Tables, Charts & Figures:||128|
|Segments covered:||By Product Type, By Application, By Site of Collection, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Lucence Diagnostics Pte Ltd., Laboratory Corporation of America Holdings, Trinity Biotech, Puritan Medical Products, Danaher Corporation, Becton, Dickinson and Company, Thermo Fisher Scientific Inc., COPAN Diagnostics, Hardy Diagnostics, Quidel Corporation, Quest Diagnostics, Vitagene Inc., HiMedia Laboratories, VIRCELL S.L.|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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- In 2021, the Swabs segment dominated the market with the largest market share of 27% and market revenue of 1.8 billion.
Based on the product type, the COVID-19 Sample Collection Kits Market is categorized into Viral Transport Media, Swabs, Blood Collection Kits, and Other Consumables. In 2021, the Swabs segment dominated the market with the largest market share of 27% and market revenue of 1.8 billion. The market category for swabs COVID-19 sample kits accounted for the highest part of the overall market. This high percentage can be ascribed to the dependence on numerous different diagnostic tools that have been approved that, include the use of nasopharyngeal swabs. The Centers for Disease Control and Prevention (CDC) state that samples can also be taken from the respiratory system if nasopharyngeal swabs are not adequate.
- In 2021, the Diagnostic segment accounted for the largest share of the market, with 55% and a market revenue of 3.56 billion.
Based on Application, the COVID-19 Sample Collection Kits Market is categorized into diagnostics and research. In 2021, diagnostic dominated the market with the largest market share of 55% and revenue of 3.7 billion. The growing number of diagnostic centers will further contribute by generating immense opportunities to grow the COVID-19 sample collection kits market. These two factors, along with the growing number of initiatives taken by the government to increase the availability of diagnostic centers, are expected to drive market growth.
- In 2021, the Hospitals & Clinics segment accounted for the largest share of the market, with 81% and a market revenue of 5.5 billion.
Based on site of collection, the COVID-19 Sample Collection Kits Market is categorized into Hospitals & Clinics and Home Test. In 2021, Hospitals & Clinics segment dominated the market with the largest market share of 81% and market revenue of 5.5 billion. Due to the exponential rise in the number of hospitalizations caused by the coronavirus, the hospital and clinics segment has been growing. Many hospitals are extending their testing capacities for the detection of the SARS-CoV-2 virus as the number of COVID-19 cases increases globally. This is having a direct impact on how specimen collecting items are used in medical settings, which is driving this market's expansion.
Regional Segment Analysis of the COVID-19 Sample Collection Kits Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Among all regions, North America emerged as the largest market for the global COVID-19 Sample Collection Kits Market, with a market share of around 39% and 2.6 billion of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global COVID-19 Sample Collection Kits Market, with a market share of around 39% and 2.6 billion of the market revenue. The market for COVID-19 Sample Collection Kits in the North American region has been expanding owing to the increasing rising R&D activities by several small and medium enterprises to develop medical healthcare facilities in the healthcare sector. Furthermore, the U.S has kept its R&D tax credit low which increases the demand for Covid- 19 Sample Collection kits in the market. Also, the population of elderly people in the region is rising at an alarming rate; however, America and Canada have the most prosperous aging populations due to social security payments by the government. For instance, the Nordson Corporation launched a Polyurethane Tubing named 80 Durometer medical tubing for medical applications.
- The Asia Pacific market is expected to grow at the fastest CAGR between 2022 and 2030, owing to the increasing demand for several applications such as catheters & cannulas, drug delivery systems, Covid- 19 Sample Collection kits equipment, and other special applications (smoke evacuation tubing and peristaltic pump tubing). In addition, the increase in healthcare accessibility and the rapidly growing demand for minimally invasive medical procedures adds impetus to the market’s growth in the region. The multiplying middle-class population in China and India increases the demand for minimally invasive techniques. There is an advancement in the efficient medical devices in the region coupled with the increasing interest of people in taking care of elderly people at home with easy & simple products.
The report offers the appropriate analysis of the key organizations/companies involved within the Global COVID-19 Sample Collection Kits Market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Lucence Diagnostics Pte Ltd.
- Laboratory Corporation of America Holdings
- Trinity Biotech
- Puritan Medical Products
- Danaher Corporation
- Dickinson and Company
- Thermo Fisher Scientific Inc.
- COPAN Diagnostics
- Hardy Diagnostics
- Quidel Corporation
- Quest Diagnostics
- Vitagene Inc.
- HiMedia Laboratories
- VIRCELL S.L.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In February 2022, In order to integrate their BD Veritor At-Home Covid-19 test directly into the ReturnSafe testing management system, Becton, Dickinson, and Company teamed up with ReturnSafe. Since test results can only be read on a smartphone, the BD Veritor At-Home Covid-19 test enables consumers to test without a supervisor at home while still giving accurate results.
- In May 2021, As a potential tool to deal with new emergent variations, Vircell was developing new real-time PCR kits and serological testing.
This study forecasts global, regional, and country revenue from 2022 to 2030. Spherical Insights has segmented the global COVID-19 Sample Collection Kits market based on the below-mentioned segments:
Global COVID-19 Sample Collection Kits Market, By Product Type
- Viral Transport Media
- Blood Collection Kits
- Other Consumables
Global COVID-19 Sample Collection Kits Market, By Application
Global COVID-19 Sample Collection Kits Market, By Site of Collection
- Hospitals and Clinics
- Home Test
Global COVID-19 Sample Collection Kits Market, By Regional Analysis
- North America
- The US
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the COVID-19 Sample Collection Kits market?As per Spherical Insights, the size of the COVID-19 Sample Collection Kits market was valued at USD 6.9 billion in 2021 to USD 32.7 billion by 2030.
What is the market growth rate of the COVID-19 Sample Collection Kits market?The COVID-19 Sample Collection Kits market is growing at a CAGR of 8.9% from 2021 to 2030.
Which country dominates the COVID-19 Sample Collection Kits market?North America emerged as the largest market for COVID-19 Sample Collection Kits.
Who are the key players in the COVID-19 Sample Collection Kits market?Key players in the COVID-19 Sample Collection Kits market are Lucence Diagnostics Pte Ltd., Laboratory Corporation of America Holdings, Trinity Biotech, Puritan Medical Products, Danaher Corporation, Becton, Dickinson and Company, Thermo Fisher Scientific Inc., COPAN Diagnostics, Hardy Diagnostics, Quidel Corporation, Quest Diagnostics, Vitagene Inc., HiMedia Laboratories, VIRCELL S.L.
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