Virology Specimen Collection Market Growing at a CAGR of -0.6% - Exclusive Report by MarketsandMarkets™
2022-04-29 07:51:01 UTC | Healthcare & Pharmaceuticals
The Virology Specimen Collection Market is projected to reach USD 5.4 billion by 2026 from USD 5.6 billion in 2021, at a CAGR of -0.6%.
The Zika virus and Babesia outbreaks, alongside announcements for their inclusion in virology specimen collection tests, indicate the need for innovation in virology specimen collection technologies, consumables, and instruments. Other countries have also undertaken initiatives to check for new and emerging diseases. For example, the prevalence of malaria in African regions and the possibility of mosquito-borne transfer of Zika has resulted in mandates for Zika virus screening in the region.
The Rising number of blood donations are among the factors. Emerging economies such as India and Japan are providing lucrative opportunities for the players operating in the market.
The viral transport media segment accounted for the largest share of the virology specimen collection market, by product segment, in 2020
Based on product, the virology specimen collection market is segmented into blood collection kits, specimen collection tubes, viral transport media and swabs. The viral transport media segment accounted for the largest share of the market in 2020. Factors such as rising prevalence of viral diseases and emergence of newer pathogens are contributing for the growth of this market.
Blood segment to register the highest growth rate during the forecast period
The virology specimen collection market is segmented into blood, nasopharyngeal, nasal, throat, cervical, oral and other samples. In 2020, the blood segment accounted for the highest growth rate. Factors such as the rising number of blood donations and rising prevalence of viral diseases and emergence of newer pathogens.
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The global virology specimen collection market is segmented into four major regions, namely, North America, Europe, the Asia Pacific and Rest of the World. In 2020, North America accounted for the largest share of the market. The large share of this region can be attributed to increasing number of blood donations in the region.
The major players operating in virology specimen collection market are Becton, Dickinson and Company (US), Quidel Corporation (US), Thermo Fisher Scientific, Inc. (US), Trinity Biotech (Ireland), Titan Biotech, Ltd. (India), Diasorin SA (Italy), Vircell S.L. (Spain), Copan Italia S.p.A. (Italy), Puritan Medical Products, Co. (Guilford, ME) and Hardy Diagnostics (US).
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