The Global Bacterial and Viral Specimen Collection Market accounted for USD 15.15 billion in 2020 and is projected to reach USD 34.14 billion by 2026. The market is likely to expect a boost as a result of the ongoing pandemic and is expected to record a growth of 14.05 percent. The pandemic has raised the demand for diagnostic testing for coronavirus, compelling many manufacturers to pump up their viral specimens across the world. Before the pandemic, the market was growing due to the evolution of high-throughput methods that allow inexpensive and fast microbial identification and timely disease diagnosis. These methods included next-generation sequencing, multiplex PCR, and matrix-assisted laser desorption/ionization time-of-flight mass spectrometry.
Of late, the world has witnessed a growing emergence of infectious diseases that have favored diagnostic companies to come up with rapid and user-friendly tests. According to the Centers for Disease Control and Prevention (CDC), the number of new cases of Tuberculosis is close to 8,920 in the U.S alone. In response, testing companies launched a rapid molecular test-Xpert MTB/XDR test-for drug-resistance TB profiling.
Based on the product type, the bacterial specimen collection segment possesses a greater revenue share of about 58 percent in 2019. This is due to the larger prevalence of tuberculosis across the globe. However, the cases of TB has reduced over the years as a result of timely diagnosis and medication. The viral specimen collection, on the other hand, is projected to expand at a faster rate within the Global Bacterial and Viral Specimen Collection Market.
Based on the application, the diagnostic applications are dominating the global market for bacterial and viral specimen collection. This segment holds the largest revenue share of 70 percent in 2019 as a result of increasing incidents of FDA approved transport media, swabs, and specimen collection kits for clinical applications.
Based on end-use, the hospitals and clinics segment possessed the largest revenue share valued at 57 percent in 2019 within the global market for bacterial and viral specimen collection. This is a result of growing cases of patients with respiratory viruses and bacterial infections and leads to a rationale for antimicrobial drug therapies. On the other hand, the home test segment is likely to record the fastest growth in this global market for bacterial and viral specimen collection. The major factors leading to the growth of this segment include the rising availability of home-based diagnostic tests.
Based on regional analysis, North America continues to lead the global market for bacterial and viral specimen collection. With a market share of 43.8 percent in 2019, this region has witnessed significant growth owing to high awareness levels of disease transmission, diagnosis, and constructive management of microbial infections. As a result, there has been a high adoption of specimen collection products.
Some of the prominent players in the bacterial and viral specimen collection market include Puritan Medical Products, Longhorn Vaccines and Diagnostics, LLC, COPAN Diagnostics, and Quidel Corporation, among others.
Check the report summary at Global Bacterial and Viral Specimen Collection Market