Sample Collection Kits Market: Global Industry Analysis And Forecast (2024-2030)

Sample Collection Kits Market size was valued at USD 8.16 Bn. in 2023 and the total Sample Collection Kits Market revenue is expected to grow at 9 % from 2024 to 2030, reaching nearly USD 14.93 Bn.
Sample Collection Kits Market Overview:
The most crucial stage of a laboratory diagnosis of disease is sample collection. Test results that are incorrect or negative stop from improper and imprecise specimen collection. A recent development in the territory of sample collection is the sample collection kit. The gathering, categorization, and storage of samples have evolved into the fundamental components of managing and implementing clinical trials.To know about the Research Methodology :- Request Free Sample Report

The qualities and dependability of sample collection kits have a significant impact on the acceptance and efficacy of clinical trials in the modern, dynamic clinical setting. Blood samples, throat swabs, and nasal swabs are collected to test and to study. The most important step in making an accurate diagnosis of a current infection is sampling. In order to modernize the use of sample collection solutions and collect specimens effectively, the Centers for Disease Control and Prevention (CDC) and other healthcare organizations created standard operating procedures and guidelines, which helped to drive the market.

Using secondary research, we first gathered information on the key suppliers' revenue in order to evaluate and forecast the market for unified monitoring. in order to split the market, by Product (Swabs - Nasopharyngeal (NP) Swabs, Oropharyngeal (OP) Swabs, Nasal Swabs, Viral Transport Media, Blood Collection Kits, Other Consumables) by Application (Diagnostics, Research) by Site of Collection (Hospitals & Clinics, Home Test) vendors' offerings are taken into account. To confirm these divisions through primary research, in-depth interviews with important people, including chief executive officers (CEOs), vice presidents (VPs), directors, and executives, were later done.

The market size is determined using bottom-up approaches. Primary and secondary research are carried out to identify the major market participants and calculate their revenue shares. A primary research method was used as opposed to secondary research, which involved reading the annual and financial reports of the leading manufacturers and interviewing prominent opinion leaders and business leaders in the industry, such as CEOs and marketing executives. Lucence Diagnostics Pte Ltd., Hardy Diagnostics, BNTX Inc, Formlabs Thermo Fisher Scientific, Inc., Puritan Medical Products, COPAN Diagnostics is a few of the top significant competitors in the global Sample Collection Kits Market For the duration of the forecast period, they are continually strategizing about mergers and acquisitions to increase their market shares and growth potential.

COVID-19 Impact on Sample Collection Kits Market:

Infectious disease COVID-19 was first discovered in the Chinese city of Wuhan in the province of Hubei in late December. SARS-CoV-2, a virus that causes the severe acute respiratory syndrome, spreads from person to person and is extremely contagious. The disease has spread to nearly 213 nations since its outbreak in December 2019, prompting the World Health Organization to declare a public health emergency on March 11, 2020.

The need for medical supplies has increased as a result of the sick population. Respiratory support devices, such as oxygen generators, monitors, life support machines, and atomizers, make up the majority of medical equipment used in primary clinical care. A considerable rise in demand for medical supplies including masks, gloves, and protective eyewear has also been attributed to COVID-19. The growth of COVID-19 cases global has led to increased demand for medical goods from both healthcare professionals and the general public as a result of preventive efforts. In order to provide a sufficient and ongoing supply of personal protective equipment on the market, the manufacturers of these goods have the chance to capitalize on the growing demand for medical supplies. As a result, it is anticipated that COVID-19 will have a major impact on the market for COVID-19 sample collecting kits.
Sample Collection Kits Market Dynamics:
Market Drivers:

The rising demand for sample collection kits and the clearance by authorities of new and sophisticated detection tests as a result of the global COVID-19 outbreak are the two main factors expected to drive market growth.

Numerous mergers and collaborations have been made to increase the production of sample test kits, which is one of the most significant and significant factors that likely speed up the growth of the sample collection market. Other significant factors include the increasing number of patients suffering from the corona virus around the world, the rising prevalence of geriatric patients, the rising levels of funding and investment for the development of medicines and advanced machines for testing as well as diagnosing the virus, and the rising levels of funds and investment in geriatric.

Market Restraints:

In the forecast period, the market for sample collection kits is likely to have growth challenges due to the scarcity of test kits and modern medical facilities in emerging economies. The biggest and most important obstacle to the market's growth is the lack of laboratory-based reagents.

In especially during diagnostic investigations, a variety of medium solutions have been suggested to stabilize specimens to identify bacteria and viruses. In order to strengthen pandemic management and prepare for future infectious disease outbreaks like COVID-19, it is imperative that international strategies for the regulation, assessment, and use of digital technologies, such as rapid case identification, digital epidemiological surveillance, and community transmission interruption, are aligned.

These are typically based on salt or saline solutions that are balanced and have the ability to buffer, maintaining a pH that is close to neutral. It has been and still is advised to use a variety of protein supplements to help viruses remain stable. Although some labs have created their own viral transport medium (VTM), commercial preparations are frequently utilized and frequently come with sterile swabs as part of sample collection kits.

Market Opportunities:

Emerging markets like India, the Middle East, and Africa offer interesting potential for enterprises in the sample collection field. Owing to their increased disposable incomes and healthcare infrastructure. For example, India's healthcare industry had a value of roughly USD 160 billion in 2017, according to Statista (August 2021). Because of rising income levels, increased health consciousness, and the increase in lifestyle diseases, it was expected to reach USD 372 billion by 2022.

ELISA is currently utilized widely in India, although NAT has a poor penetration rate. In contrast to the US, Canada, the majority of Europe, Japan, Korea, Singapore, Sri Lanka, the United Arab Emirates, South Africa, Thailand, and China, NAT is currently not required in India. Almost 100 blood banks use NAT in ID-NAT format, while 40 blood banks use the pooling technique. These blood banks include AIIMS, PGI Chandigarh, CMC Vellore, Medanta-The Medicity, and Narayana Hrudayalaya. Similar initiatives are being made by the Indian government to train medical professionals, hospitals, and blood banks on how to use NAT.
Sample Collection Kits Market Segment Analysis:
Based on Product, The Swab segment is expected to grow at the highest CAGR during the forecast period. Owing to the usage of NP swabs relying on a large variety of approved diagnostic products. When using NP swabs alone is not sufficient, other samples from the respiratory tract can also be taken, according to the CDC. An or pharyngeal swab or a swab from a nose are examples of these.

Important players have taken a number of actions to hasten the supply and production of goods for the COVID-19 sampling. For instance, Puritan won USD 11.6 million in November 2020 to grow its swab manufacturing capabilities in order to satisfy the demand for 3 million swabs per month. The Paycheck Protection Program and Health Care Enhancement Act provided this extra funds.



Based on Application, The Diagnostics segment is expected to grow at the highest CAGR during the forecast period. This is because SARS-CoV-2 diagnostic tests have consistently received approval. 1 295 tests, including 227 molecular tests, 61 antibody tests, and 7 antigen testing for the detection of COVID-19 infection, have as of December 1, 2020, been approved by the U.S. FDA under EUAs.

The segment is also being driven by ongoing research to improve the use of swabs for illness diagnosis. The newest chromogenic medium from Hardy Diagnostics, HardyCHROM Group A Strep agar, was introduced in August 2021. It is used to cultivate and identify Group A Streptococcus (S. pyogenes) specifically from clinical specimens. Additionally, researchers from Southern University of Denmark (SDU) in partnership with Lifeline Robotics created a fully automated robot, or swab robot, in June 2020 for swab samples from the patient. This innovation aims to streamline the sample extraction procedure without putting medical staff at danger of infection.

In terms of revenue creation, the research segment had a small share of the global market. The market is expected to be driven by an increase in R&D initiatives that use sample collecting kits to test the efficacy of various diagnostic procedures. Additionally, significant financing for research on the SARS-CoV-2 pathogenesis supports a growth in revenue creation in this market. A research use only (RUO) amplicon-based next-generation sequencing kit for identifying SARS-CoV2 viral variants was created by Tempus in 2021.

Based on Site of Collection, The Hospitals & Clinics segment is expected to grow at the highest CAGR during the forecast period. Because of the coronavirus's role in an exponential rise in hospitalizations. Many hospitals are extending their testing capacities for the detection of the SARS-CoV-2 virus as the number of COVID-19 cases increases globally. This is having a direct impact on how specimen collecting items are used in medical settings, which is driving this market's growth.



Inadequate testing capacity has caused problems in a number of American states. As of the first of December 2020. 1,583 COVID-19 patients across the state of Maryland have already filled 87 % of the hospitals' available space. As a result, government representatives and local hospitals have started to take steps to ensure that there is enough testing capacity to keep up with an increase in hospital admissions.

The companies are aiming at patient comfort and the safety of healthcare professionals, therefore the market for home settings is expected to grow profitably during the forecast period. For instance, in November 2020, the Swiss biotechnology company Mybiopassport introduced its online purchasing system for the "COVID-19 & Immunity Profile" test, a blood test that can be performed at home. If the person has ever had a COVID-19 infection, the test can assist identify that.
Sample Collection Kits Market Regional Insights:
During the forecast period, North America is expected to hold a significant market share for sample collecting kits globally. Owing to increased R&D and different government efforts for the creation of innovative concepts, it is expected that the market in the region grow rapidly over the Forecast period.

The market for sample collection kits in Asia Pacific is expected to grow at a rapid CAGR during the forecast period. This is linked to an increase in healthcare management and commercial and public sector organizations’ investments in research and development.

The objective of the report is to present a comprehensive analysis of the Sample Collection Kits Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Sample Collection Kits Market dynamics, structure by analyzing the market segments and project the Sample Collection Kits Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Sample Collection Kits Market make the report investor’s guide.
Sample Collection Kits Market Scope: Inquiry Before Buying



Global Sample Collection Kits Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 8.16 Bn.


Forecast Period 2024 to 2030 CAGR:
9 %
Market Size in 2030:
USD 14.93 Bn.


 Segments Covered:
by Product
Swabs
Nasopharyngeal (NP) Swabs
Oropharyngeal (OP) Swabs
Nasal Swabs
Viral Transport Media
Blood Collection Kits
Other Consumables


by Application
Diagnostics
Research


by Site of Collection
Hospitals & Clinics
Home Test



Sample Collection Kits Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Sample Collection Kits Market, Key Players
1. Lucence Diagnostics Pte Ltd.
2. Hardy Diagnostics
3. BNTX Inc.
4. Formlabs
5. Thermo Fisher Scientific, Inc.
6. Puritan Medical Products
7. COPAN Diagnostics
8. Becton, Dickinson and Company
9. Laboratory Corporation of America Holdings
10. Medline Industries, Inc.
11. HiMedia Laboratories
12. Vircell S.L.
13. Abbott
14. Altona Diagnostics GmbH
15. F. Hoffmann-La Roche Ltd
16. QIAGEN
17. Sensing Self

FAQs:

1. Which is the potential market for the Sample Collection Kits Market in terms of the region?
Ans. In North America region, the growing business and educational sectors are expected to help drive the use of collaborative screens.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is new initiatives from governments that provide funding for Sample Collection Kits Markets in educational institutes.

3. What is expected to drive the growth of the Sample Collection Kits Market in the forecast period?
Ans. A major driver in the Sample Collection Kits Market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic.

4. What is the projected market size & growth rate of the Sample Collection Kits Market?
Ans. Sample Collection Kits Market size was valued at USD 8.16 Billion in 2023 and the total Sample Collection Kits Market revenue is expected to grow at 9 % through 2024 to 2030, reaching nearly USD 14.93 Billion.

5. What segments are covered in the Sample Collection Kits Market report?
Ans. The segments covered are Product, Application, Site of Collection, and region.