Polaris Market Research study says COVID-19 sample collection kits market size may reach USD 16.56 billion globally by 2028 .
The global COVID-19 sample collection kits market size is expected to reach USD 16.56 billion by 2028 according to a new study by Polaris Market Research. The report “COVID-19 Sample Collection Kits Market Share, Size, Trends, Industry Analysis Report, By Product (Swabs, Viral Transport Media, Blood Collection Kits, Others); By Application (Diagnostics, Research); By Collection Site (Hospitals & Clinics, Home Test), By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Asia Pacific COVID-19 sample collection kits industry is expected to witness a lucrative growth rate over the assessment period. This is since, this pandemic tends to hit countries more severely, owing to its fragile and underfunded healthcare systems, as there is a disparity between need and purchasing power capacity for preventive measures.
Countries in the region actively engaged in containing COVID-19 infection spread. For instance, in November 2020, ICMR introduced an ambulatory covid-19 RT-PCR lab at its facility. The government has also announced to establish more labs to boost COVID-19 testing.
In 2020, the swabs COVID-19 sample kits industry segment accounted for the largest share. This high share is attributed to the reliance on several approved diagnostic products on the use of nasopharyngeal swabs. As per CDC, samples could also be collected from the respiratory tract, when the use of nasopharyngeal swabs is not sufficient.
Key players in the market for COVID-19 sample collection kits are employing several market strategies to accelerate the supply of products for coronavirus sampling. In line with this, in November 2020, Puritan has received funding of more than USD 11.6 million for the expansion of swab production to cater to the demand of around 3 million swabs in a month. The company has also received additional funding from Paycheck Protection Program.
However, the blood collection kits segment is projected to witness a lucrative market growth rate over the assessment period. Such growth is due to approvals in the blood-related detection tests. For instance, in November 2020, U.S.-based company AnPac Bio-Medical announced the approval of its EUA-antibody test by the FDA for Roche’s Elecsys Anti Sars-COV-2 test.
COVID-19 sample collection kits industry participants such as Lucence Diagnostics Pte Ltd., Laboratory Corporation of America Holdings, Trinity Biotech, Puritan Medical Products, Danaher Corporation, Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., COPAN Diagnostics, Hardy Diagnostics, Quidel Corporation, Quest Diagnostics, Vitagene Inc., HiMedia Laboratories, and VIRCELL S.L. are some of the key players operating in the COVID-19 sample collection kits industry.
Players and organizations across the globe are developing innovative products for sample collection. In line with this, in January 2021, the India-based, Defence Research, and Development Organization (DRDO) introduced COVSACK, a sample collection kiosk for the health practitioners to collect samples, without any need of PPE kits. Polaris Market research has segmented the COVID-19 sample collection kits market report on the basis of product, application, collection site, and region.
