Bacterial and Viral Specimen Collection Market

Bacterial and Viral Specimen Collection Market Size (2023 to 2028)

The global bacterial and viral specimen collection market is predicted to be valued at USD 34.71 billion by 2028 from USD 17.14 billion in 2023, growing at a CAGR of 15.16% from 2023 to 2028.

Impact of Covid-19 on the bacterial and viral specimen collection Market:

The bacterial and viral specimen collection market was significantly impacted by the pandemic crisis. The increasing number of patients suffering from the novel coronavirus, the strong focus of prominent key players on launching products, and the regulatory approval process for producing effective and safe COVID-19 specimen collection kit fuel the market growth during the pandemic crisis. The pandemic led to a surge in demand for diagnostic testing, including PCR and antigen tests which require the collection of respiratory specimens, this rises the demand for testing and specimen collection such as swabs, viral transport media, and collection kits. The demand for more efficient, user-friendly specimen collection methods increased during the COVID-19 pandemic crisis, this led to drive innovation in swab designs, transport media, and formulation and collection kits to enhance ease of use, accuracy, and preservation of specimens during transport.

MARKET DRIVERS:

The increasing prevalence of bacterial and viral diseases primarily drive the growth of the bacterial and viral specimen collection market. the rising occurrence of bacterial and viral diseases such as influenza, tuberculosis, HIV, and hepatitis and emerging infectious diseases such as Zika, and Ebola need effective and efficient specimen collection, urbanization and rise in mortality contribute to the faster transmission of infectious diseases, people moving across region and countries require robust specimen collection for accurate diagnosis and tracking, the emergence of new pathogen and growing challenges of antibiotic resistance require effective specimen collection allow early detection, appropriate treatment and containment of potentially dangerous infection, hence this factor majorly boost the market growth in the upcoming years.

The strong focus of prominent key players on strategic collaboration and increasing launches of bacterial and viral specimen collection kits further favours the market growth. A variety of specimen collection kits can be created through partnerships between prominent performers and other organizations, such as research organizations or smaller firms. Due to the variety, healthcare professionals can select the best options for various sample kinds and testing methodologies. Strategic partnerships can aid in enlarging the distribution networks for these collection kits, hence increasing their geographic accessibility. This is especially crucial in areas with potential gaps in healthcare infrastructure. Hence this factor majorly boosts the market growth.

The increasing research and developmental activities are fuelling the market growth. New infections are discovered because of research and development activities, which also improve testing procedures and improve diagnostic equipment. This increases demand for specimen collection kits made especially to handle these developments. To ensure the accuracy of test results, emerging infectious illnesses and developing diagnostic technologies frequently need specialized specimen collection approaches. Customized collection kits are created because of research-driven innovations to meet these objectives. Current research highlights the requirement for gathering diverse types of samples for thorough testing. The rising demand for diagnostic testing, several manufacturers have ramped up the production of viral specimen collection products globally, and key companies involved in the introduction of innovation to enable the error-free laboratory quality specimen collection to fuel the market growth during the forecast period.

MARKET RESTRAINTS:

Limitation of bio-specimen collection such as false negative result is the major obstacle hindering the market growth during the forecast period. When the specimen that was taken does not adequately reflect the presence of the pathogen, false-negative results may arise. Patient care and public health initiatives may be harmed because of a false diagnosis or a delay in treatment. Techniques for collecting samples that are improper or insufficient can result in samples that contain inadequate amounts of the target pathogen. As a result, even if the pathogen is present, the results can be falsely negative. Hence this factor majorly hampers the market growth during the projected period.

REPORT COVERAGE:

This research report on the global bacterial and viral specimen collection Market has been segmented and sub-segmented based on Type, Material, Application, and Region.

Bacterial and Viral Specimen Collection Market – By Type:

• Bacterial Specimen Collection
• Viral Specimen Collection

Based on the type, the bacterial specimen collection segment has dominated the market with a notable share of 58.3% in 2022 and is anticipated to continue to dominate the market during the projected period. The high prevalence of tuberculosis is one of the major factors attributed to a larger share of this segment, as the rising prevalence of tuberculosis surges the diagnosis and adoption of different bacterial specimen-collecting products, boosting segmental growth.

The viral specimen collection segment is also anticipated to show lucrative growth in the market during the projected period. The increasing development in the detection of virus infection boosts segmental growth. For instance, the University of Rochester Medical Centre in Rochester, New York, created a finger-stick test in April 2022 that can identify more than 50 different flu strains from a few drops of blood. This test is being developed for clinical use. Rocky Mountain Biologicals also introduced the Viral Transport Medium for extensive infectious disease testing in May 2022. Hence this segment also propels the market growth during the forecast period.

Bacterial and Viral Specimen Collection Market – By Application:

• Diagnostics
• Research

Based on application, the diagnostic segment accounted for the major market share of 71% in 2022 for the viral and bacterial specimen collection, this is due to Strong diagnostic testing is required due to the rising incidence of bacterial and viral diseases, including both common and new infections. For effective treatment and illness management, early detection and precise diagnosis are essential. Healthcare professionals can customize therapies for specific patients with the aid of diagnostic testing, which aids in identifying the microorganism responsible for the disease and its characteristics. Hence this segment propels the market growth in upcoming years.

The research segment is also expected to hold a significant market share during the projected period. Studying the molecular, genetic, and metabolic causes of bacterial and viral illnesses requires effective specimen collection. To find the root causes of illnesses, researchers rely on samples that have been kept in good condition. Biomarkers molecules that show the existence of a disease or its progression are discovered by researchers via specimen collecting. The use of these biomarkers for diagnostic or prognostic purposes is possible.

Bacterial and Viral Specimen Collection Market – By End-User:

• Hospitals
• Diagnostic Laboratories
• Academic and Research Institution
• Others

Based on end-user, the hospital and clinic segment witness a major revenue share of 58.7% in 2022 and is expected to continue to dominate the market at a notable share during the projected period. The rising prevalence of infectious and viral diseases across the globe attribute to an increase in a patient with respiratory viruses and bacterial infection, furthermore, the rising cases of healthcare-associated infection in acute care hospital need proper medication hence this factor propels the segmental growth and boost the market growth in the upcoming years.

The diagnostic laboratories segment is also anticipated to hold a significant market share and grow at a healthy CAGR during the projected period.

Bacterial and Viral Specimen Collection Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, the North America region dominated the market with a revenue share of 47.7% in 2022. The rising prevalence of infectious diseases and increasing awareness among the population regarding the transmission of diseases, diagnosis, and effective management of infection observed in this region, leads to the higher adoption of the products, resulting in a earn more market revenue in this region. The growing government support and initiative taken by the government further fuel the market growth in this region.

APAC region is expected to show lucrative growth and grow at the highest CAGR during the projected period. A significant majority of the world's population resides in the APAC region, which includes populated nations like China and India. The need for efficient specimen-collecting techniques to enable precise diagnosis and disease surveillance is driven by the huge and expanding population. Because of factors including urbanization, interactions between species and people, and modifications in agricultural procedures, and the APAC region is especially vulnerable to the introduction of novel infectious illnesses. To facilitate research and diagnoses, better specimen collection techniques are required in this region and propel the market growth.

Europe is another region expected to grow at a healthy CAGR during the projected period. Europe is renowned for having advanced infrastructure and healthcare systems. The need for high-quality specimen collection techniques to promote accurate and prompt illness diagnosis is driven by the accessibility of contemporary healthcare facilities and diagnostics. A large portion of the population in the area is getting older, making them more susceptible to bacterial and viral diseases. This increases the need for efficient specimen-collecting techniques to support monitoring and diagnostics in older people, hence this region also fuel the market growth in the upcoming years.

Latin America and the Middle East and Africa region predicted to show lucrative growth and grow at a significant CAGR during the forecast period.

KEY MARKET PLAYERS:

The prominent key player in the global bacterial and viral specimen collection market are Puritan Medical Products, COPAN Diagnostics, Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., Quidel Corporation, Longhorn Vaccines and Diagnostics, LLC, Pretium Packaging, Trinity Biotech, Medical Wire & Equipment, HiMedia Laboratories, Hardy Diagnostics, Nest Scientific, VIRCELL S.L., DiaSorin, Titan Biotech.

RECENT MARKET DEVELOPMENTS:

• In March 2022, The InhibiSURE Viral Inactivation Medium was created by Thermo Fisher Scientific and introduced in Europe. The SARS-CoV-2 virus can be obtained and quickly rendered inactive using this new viral transport medium, which also stabilizes viral RNA at room temperature for transportation and usage in in vitro diagnostic testing methods.
• In February 2022, The Indian Institute of Sciences (IISC) Bangalore's Society for Innovation and Development nurtured company Azooka Labs, which unveiled India's first native biological transport and storage media.