by The bacterial and viral specimen collection market caters to the need for convenient, rapid and safe collection of infectious specimens from patients for diagnosis. Products associated with the market include viral transport media, swabs, nucleic acid collection and transport tubes. The market offers ease of specimen handling to laboratories and healthcare facilities for prompt disease diagnosis and management.
Global bacterial and viral specimen collection market is estimated to be valued at US$ 29423.6 Mn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the bacterial and viral specimen collection market are Thermo Fisher Scientific Inc., Quidel Corporation, Puritan Medical Products, Becton, Dickinson and Company, COPAN Diagnostics Inc., Longhorn Vaccines and Diagnostics LLC, Medical Wire Equipment, Trinity Biotech PLC, HiMedia Laboratories Pvt. Ltd. Key players are focusing on innovative product launches to cater to the rising demand for prompt diagnostics.
The growing prevalence of infectious diseases due to changing lifestyles and environmental conditions is driving the Bacterial And Viral Specimen Collection Market Demand for convenient specimen collection products in the market. Technological advancements in collection kits allowing transportation of samples at ambient temperature without preservatives are further fueling the adoption.
The market is witnessing heightened global expansion activities with players diversifying their geographical presence especially in developing economies of Asia Pacific and Latin America. This is attributed to increasing healthcare investments and awareness regarding early disease diagnosis in these regions.
Market Key Trends
Rise of automated specimen collection is a key trend witnessed in the bacterial and viral specimen collection market. Automated systems allow high throughput processing of specimens with minimal human errors and reduced turnaround times. Systems incorporated with robotics, artificial intelligence and Internet of Things are gaining ground. This enables on-demand collection, storage, transport and analytics of infectious samples on a large scale, addressing the growing complexities of disease epidemiology.
Porter’s Analysis
Threat of new entrants: Low barriers to entry due to low start up capital requirements. However, established players dominate the market.
Bargaining power of buyers: Moderate bargaining power as limited product differentiation. However, rapid technological advancement reduces bargaining power over time.
Bargaining power of suppliers: Low bargaining power as raw materials easily available.
Threat of new substitutes: Threat of substitutes is low as collection kits have no close substitutes. However, alternatives like at-home collection kits pose a moderate threat.
Competitive rivalry: High competition due to large number of private label brands and global established players. Price competition is intense.
Geographically, North America holds the largest share of the bacterial and viral specimen collection market in terms of value owing to the advanced healthcare infrastructure and rapid adoption of new diagnostic technologies in the region.
Asia Pacific region is poised to witness the fastest growth during the forecast period. Factors such as increasing demand for diagnostic testing, rising incidence of infectious diseases, growing healthcare expenditure and healthcare infrastructure development are expected to drive the market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn
