The increasing prevalence of infectious diseases is encouraging diagnostic companies to develop rapid and easy-to-use tests. A major shift from traditional tests to rapid diagnostic tests has resulted in medical tests becoming better, quicker, and more precise. Frequent medical visits, a high prevalence of infections, particularly in older adults, and an increase in the risk of hospital-associated infections are some key factors responsible for a dominant share of clinics and hospitals.
With an increase in demand for COVID-19 diagnostic testing, several manufacturers have increased the worldwide production of viral specimen collection products. In turn, this is driving the bacterial and viral specimen collection market. Key businesses are interested in developing technologies to allow the error-free collection of laboratory-quality specimens, which is expected to drive the bacterial and viral specimen collection market.
- The bacterial specimen collection segment continuously dominated the market with the largest revenue share. One of the key factors contributing to an increased share of this segment is the increasing prevalence of TB in different regions of the world. The rate of TB, however, has declined in the last few years, but latent TB is an immense burden affecting almost about one-quarter of the world’s total population. A wide-scale diagnosis of TB increases the adoption of various products for collecting bacterial specimens.
- In the bacterial and viral specimen collection market, the diagnostic applications segment accounted for the highest revenue share. The growth is attributed to an increase in transport media, swabs, and sample collection kits for clinical applications approved by the FDA. Hardy Diagnostics, unveiled the FDA-approved Universal Transport Medium for the collection of clinical specimens such as mycoplasma, chlamydia, and ureaplasma species.
- In the bacterial and viral specimen collection industry, the hospitals and clinics emerged as the fastest-growing segment. This is attributable to a rise in respiratory virus and bacterial infections in patients and consequently offers a basis for the treatment of antimicrobial drugs. In addition to this, an increase in healthcare-related infection cases in acute care facilities increases the rate of use in hospitals and clinics for bacterial and viral specimen collection materials.
- The King’s College Hospital London and Mediclinic has released FDA-approved COVID-19 serology tests for the UAE public. Similarly, Lucence Diagnostics Pte Ltd., based in Singapore, launched a SAFER-Sample collection kit for more affordable coronavirus testing in March 2020.
Geographical Outlook for Bacterial and Viral Specimen Collection Market
North American region dominated the global market and is expected to lead the global market for bacterial and viral specimen collection over the forecast period. High levels of awareness have been observed in this region regarding disease transmission, diagnosis, and successful management of microbial infections. This leads to a high degree of acceptance of these products, leading to a greater share of this region’s revenue. In support of research & development activities, the initiatives undertaken by government agencies further influence sales growth.
For the collection of bacterial and viral specimens, Asia Pacific is expected to register a lucrative CAGR in the industry. This substantial growth is the outcome of large-scale coronavirus research in major Asian countries, especially in India. Respiratory Syncytial Virus (RSV) is one of the main lower respiratory tract infections among children in Japan which made the country take necessary preventive measures during the RSV epidemic.
Deep-dive Insights on Bacterial and Viral Specimen Collection Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/bacterial-viral-specimen-collection-market