With Onslaught of COVID-19, Increasing R&D Activities to Help Swab and Viral Transport Medium Market to be valued at US$2.2 Bn by 2030, Observes TMR

Transparency Market Research has now published a new research report that offers a detailed information about the global swab and viral transport medium market. The research report tries to offer meaningful and actionable insights about the key segments, prominent growth drivers, restraining factors, geographical outlook, and the current situation of the vendor landscape of the global market.

As per the research report, the global swab and viral transport medium market was valued at US$0.9 BN in 2019. The research report expects the global market to witness a moderate growth rate of ~3% over the course of the given forecast period ranging from 2020 to 2030. Given the rate of growth, the global market is expected to reach an overall valuation of ~US$2.2 Bn by the end of 20230.

Global Swab and Viral Transport Medium Market – Overview

• In terms of product, the global swab and viral transport medium market has been bifurcated into swab type and transport medium. The swab type segment has been split into nasal swabs, nasopharyngeal swabs, and throat swabs.

• The transport medium segment accounted for a major share of the global swab and viral transport medium market in 2019. The segment is anticipated to expand at a high CAGR during the forecast period, owing to rise in the need and demand for detection and prevention of the infectious diseases across the world.

• Based on application, the global swab and viral transport medium market has been classified into viral infection diagnosis and others. The viral infection diagnosis segment has been segregated into COVID-19, influenza, herpes simplex virus, varicella-zoster virus, and others.

Global Swab and Viral Transport Medium Market – Prominent Driving Factors

• The COVID-19 pandemic has led to an unprecedented need of diagnostic reverse transcription-PCR (RT-PCR) testing.

• The ideal way for taking the specimen type is a nasopharyngeal (NP) swab, which can be easily transported to a molecular microbiology laboratory in viral transport medium (VTM) and the swabs for the further examinations.

• Increase in demand for swabs and viral transport medium, owing to COVID-19 pandemic is projected to drive the global swab and viral transport medium market in the near future.

Global Swab and Viral Transport Medium Market – Key Restraining Factors

• However, there are some factors that are impeding the overall development of the global swab and viral transport medium market.

• One of the key restraining factor for the market growth has been the increasing number of false negatives and reinfection of the COVID-19 diagnosis.

• As such, healthcare professionals are facing issues to test performance and interpretation of COVID-19 testing, as the level of viral RNA in many cases is below the limit of detection. Hence, manufacturers in the swab and viral transport medium market are following CDC guidelines to develop products that facilitate appropriate specimen collection.

Global Swab and Viral Transport Medium Market – Regional Outlook

• North America accounted for a significant share of the global swab and viral transport medium market in 2019. The presence of key players and growth strategies adopted by these players are the major factors driving the swab and viral transport medium market in the region.

• The growth of the swab and viral transport medium market in the region can be attributed to rise in prevalence of infectious diseases. The market in Asia Pacific is likely to grow at a rapid pace during the forecast period.

Global Swab and Viral Transport Medium Market – Key Players

Leading players operating in the global swab and viral transport medium market include Thermo Fisher Scientific, Becton, Dickinson and Company, MWE, Titan Biotech Ltd., COPAN Diagnostics, Inc., MANTACC, Puritan Medical Products, YOCON Biology, Trinity Biotech, and VIRCELL S.L.