Medical Swabs Market Research Report, Global Industry Analysis, Business Development, Size, Share, Trends, Future Growth, Forecast To 2027
The global ‘medical swabs market’ is estimated to rise remarkably on account of the increasing application of cotton for drawing infection samples from the patient by having the least possibility of contact. According to a recently published report by Fortune 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, and Others), By End User (Hospitals & Clinics, Laboratories & Diagnostic Centers, and Research Institutes), and Regional Forecast, 2020-2027,” the value of this market was USD 2.34 billion in 2019 and is expected to reach USD 4.00 billion 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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An Overview of the Impact of COVID-19 on this Market :
The
emergence of COVID-19 has brought the world to a standstill. We understand that
this health crisis has brought an unprecedented impact on businesses across
industries. However, this too shall pass. Rising support from governments and
several 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.
We
are taking continuous efforts to help your business sustain and grow during
COVID-19 pandemics. Based on our experience and expertise, we will offer you an
impact analysis of corona virus outbreak across industries to help you prepare
for the future.
Frequently Ask Question :
1)
How much is the medical swabs
market worth?
Fortune Business Insights says that the global medical swabs market
size was USD 2.34 billion in 2019 and is projected to reach USD 4.00 billion by
2027.
2)
What was the value of the
market in North America in 2019?
In 2019, the North America market vale stood at USD 0.97 billion.
3)
At what CAGR is the market
projected to grow in the forecast period (2020-2027)?
Growing
at a CAGR of 6.9%, the market will exhibit a steady growth in the forecast
period (2020-2027).
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 Expansion
of Market
Swabs
have been used by the medical sector for collecting samples for research
activity or for diagnosing any disease. With the use of swab, there is minimum
risk of infection contraction between a patient and the sample collector. This
hygiene-friendly feature stands as a key factor promoting the medical swabs
market growth. Besides this, the increasing prevalence of coronavirus pandemic
is further propelling the overall growth of the market. Additionally, the rise
in cases of other infectious and communicable diseases will add impetus to the
market in the forecast period.
On
the contrary, the supply shortage of sterile swabs used in testing processes
during the current coronavirus pandemic may cause major hindrance to the market
in the coming years. Nevertheless, the increasing number of diseases resulting
in hospital stay is further propelling the demand for medical swabs, thereby
creating lucrative growth opportunities for the market in the coming years.
Regional Analysis-
North America Dominated Market with Increasing Demand for
Continuous 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 basis
of nations. Among these, North America generated a revenue of USD 0.97 billion
in the year 2019 and emerged dominant. This is accountable to the growing
prevalence of infectious diseases that demand continuous diagnostic processes.
On the other side, the increasing awareness about the need to get diagnosed for
infectious diseases is likely to help Europe market rise at a notable CAGR in
the forecast period. Furthermore, the Asia Pacific market is likely to showcase
a healthy CAGR with the increasing number of coronavirus testing facilities.
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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
Competitive Landscape-
Puritan Medical Products will Lead Market with Robust Portfolio
The
competitive landscape of the global market for medical swabs is highly
fragmented in nature witnessing the presence of both small and large scale
industries. The market is dominated by Puritan Medical Products on account of
its robust portfolio inclusive of products as polyester swabs, non-woven swabs,
cotton tipped swab, and others. Other companies operating in this market are
focusing on adopting strategies that will help them expand their geographical
presence to other regions.
Notable Industry Developments of the Marketfor Medical Swabs
Include:
April 2020 – Origin and Stratasys
entered into a joint venture for the promotion and distribution of 3D printed
nasopharyngeal swabs produced by Origin.
April 2020 – The launch of Q-tip, a
polyester swab manufactured by Cleveland Company, was approved by the U.S. Food
and Drug Administration with the objective of maximizing the production
capacity 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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