Theglobal ‘medical swabs marketSize’ is estimated to rise remarkably on account of the increasingapplication of cotton for drawing infection samples from the patient by havingthe least possibility of contact. According to a recently published report byFortune Business Insights titled, “Medical Swabs Market Size, Share&COVID-19 Impact Analysis, By Type (Cotton Tipped Swab, Foam Tipped Swab,Non-woven, and Others), By Application (Specimen Collection, Disinfection, andOthers), By End User (Hospitals & Clinics, Laboratories & DiagnosticCenters, and Research Institutes), and Regional Forecast, 2020-2027,” the valueof this market was USD 2.34 billion in 2019 and is expected to reach USD 4.00billion by the end of 2027. The market is expected to rise at a CAGR of 6.9%between 2020 and 2027.
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The Report Answers the Following Questions:
- What is the nature of this market and who are the key players?
- Which segment will lead this market and why?
- What is the impact of COVID-19 pandemic on this market?
- Which are the major industry developments of this market?
Drivers & Restraints-
The increasing prevalence of COVID-19 Pandemic to Aid in Expansionof Market
Swabshave been used by the medical sector for collecting samples for researchactivity or for diagnosing any disease. With the use of swab, there is minimumrisk of infection contraction between a patient and the sample collector. Thishygiene-friendly feature stands as a key factor promoting the medical swabsmarket growth. Besides this, the increasing prevalence of coronavirus pandemicis further propelling the overall growth of the market. Additionally, the risein cases of other infectious and communicable diseases will add impetus to themarket in the forecast period.
Onthe contrary, the supply shortage of sterile swabs used in testing processesduring the current coronavirus pandemic may cause major hindrance to the marketin the coming years. Nevertheless, the increasing number of diseases resultingin hospital stay is further propelling the demand for medical swabs, therebycreating lucrative growth opportunities for the market in the coming years.
Frequently Ask Question :
1) How much is the medical swabsmarket worth?
Fortune Business Insights says that the global medical swabs marketsize was USD 2.34 billion in 2019 and is projected to reach USD 4.00 billion by2027.
2) What was the value of themarket in North America in 2019?
In 2019, the North America market vale stood at USD 0.97 billion.
3) At what CAGR is the marketprojected to grow in the forecast period (2020-2027)?
Growingat a CAGR of 6.9%, the market will exhibit a steady growth in the forecastperiod (2020-2027).
Regional Analysis-
North America Dominated Market with Increasing Demand forContinuous Diagnostic Procedures
Region-wise,the global medical swabs market is classified into Latin America, Asia Pacific,North America, and Europe. These regions are further categorized on the basisof nations. Among these, North America generated a revenue of USD 0.97 billionin the year 2019 and emerged dominant. This is accountable to the growingprevalence of infectious diseases that demand continuous diagnostic processes.On the other side, the increasing awareness about the need to get diagnosed forinfectious diseases is likely to help Europe market rise at a notable CAGR inthe forecast period. Furthermore, the Asia Pacific market is likely to showcasea healthy CAGR with the increasing number of coronavirus testing facilities.
An Overview of the Impact of COVID-19 on this Market :
Theemergence of COVID-19 has brought the world to a standstill. We understand thatthis health crisis has brought an unprecedented impact on businesses acrossindustries. However, this too shall pass. Rising support from governments andseveral companies can help in the fight against this highly contagious disease.There are some industries that are struggling and some are thriving. Overall,almost every sector is anticipated to be impacted by the pandemic.
Weare taking continuous efforts to help your business sustain and grow duringCOVID-19 pandemics. Based on our experience and expertise, we will offer you animpact analysis of corona virus outbreak across industries to help you preparefor the future.
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Table Of Content :
- Introduction
- Market Scope
- Market Segmentation
- Market Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview: Guidelines for COVID-19 Diagnosis Using Swab
- New Product Launch
- Prevalence of COVID-19 Disease
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
Continue…
Competitive Landscape-
Puritan Medical Products will Lead Market with Robust Portfolio
Thecompetitive landscape of the global market for medical swabs is highlyfragmented in nature witnessing the presence of both small and large scaleindustries. The market is dominated by Puritan Medical Products on account ofits robust portfolio inclusive of products as polyester swabs, non-woven swabs,cotton tipped swab, and others. Other companies operating in this market arefocusing on adopting strategies that will help them expand their geographicalpresence to other regions.
Notable Industry Developments of the Marketfor Medical SwabsInclude:
April 2020 – Origin and Stratasysentered into a joint venture for the promotion and distribution of 3D printednasopharyngeal swabs produced by Origin.
April 2020 – The launch of Q-tip, apolyester swab manufactured by Cleveland Company, was approved by the U.S. Foodand Drug Administration with the objective of maximizing the productioncapacity for continuous supply during the coronavirus pandemic.
Some of the Key Players of thisMarket include:
- FL MEDICAL srl (Italy, Europe)
- Advacare Pharma (Maharashtra, India)
- Puritan Medical Products (Maine, U.S)
- Dynarex (New York, U.S)
- BD (New Jersey, U.S)
- DLS Medical (U.K, Europe)
- 3M (Minnesota, U.S)
- FL MEDICAL srl (Italy, Europe)
- Copan Diagnostics Inc. (Italy, Europe)
- Others
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Global Medical Swabs Market Segmentation :
By Type
- Cotton Tipped Swabs
- Foam Tipped Swabs
- Non-woven Swabs
- Others
By Application
- Specimen Collection
- Disinfection
- Others
By End User
- Hospital & Clinics
- Laboratories & Diagnostics Centers
- Research Institutes
By Geography
- North America
- By Type
- By Application
- By End User
- By Country
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