The Global COVID-19 Sample Collection Kits Market, by Product Type (Swabs [Nasal swab, Nasopharyngeal swab, and Oropharyngeal swab], Viral Transport Media, and Others), by Application (Diagnostic and Research), by End User (Hospital and Clinics, COVID-19 Testing Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 12.0 Billion in 2021 and expected to exhibit a CAGR of 4.1% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Market players are engaging in inorganic activities such as partnerships, collaboration, and agreement, which is expected to boost the global COVID-19 sample collection kits market growth during the forecast period. For instance, on February 22, 2021, Becton, Dickinson and Company, also known as BD, an American multinational company that manufactures and sells medical devices, instrument systems, and reagents, announced the collaboration with Scanwell Health, a software development company that creates smartphone applications for medical test results. In collaboration the companies developed an at-home rapid test kit for SARS-Cov2 by using BD’s antigen test and scanning the cassette on the Scanwell Health Mobile app to obtain the test result.
Global COVID-19 Sample Collection Kits Market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus disease (COVID-19) pandemic is expected to drive the growth of the global COVID-19 sample collection kits market over the forecast period. COVID-19 is the recent pandemic outbreak that was first reported on December 31, 2019 in Wuhan, China. The World Health Organization (WHO) declared coronavirus disease (COVID-19) a pandemic on March 11, 2020. According to the WHO, globally, during the week of January 3-9, 2022, the new weekly COVID-19 cases increased markedly by 55%, while the new weekly deaths remained similar to those reported during the previous week. Nearly 305 million cases of COVID-19 and 5,486,304 deaths due to the COVID-19 were reported globally.
Browse 32 Market Data Tables and 45 Figures spread through 198 Pages and in-depth TOC on “Global COVID-19 Sample Collection Kits Market” - Forecast to 2028, Global COVID-19 Sample Collection Kits Market, by Product Type (Swabs [Nasal swab, Nasopharyngeal swab, and Oropharyngeal swab], Viral Transport Media, and Others), by Application (Diagnostic and Research), by End User (Hospital and Clinics, COVID-19 Testing Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/covid-19-sample-collection-kits-market-4980
Market players are indulged in business development strategies such as agreement, partnerships, and collaborations, which is expected to drive the global COVID-19 sample collection kits market growth over the forecast period. For instance, on January 28, 2021, Reliance group, a conglomerate company that includes various businesses such as energy, petrochemicals, natural gas, retail, telecommunications, and textiles, had announced a deal of US$ 15 million with Breath of Health (BoH), an Israel-based company that manufactures diagnostics test kits for detecting cancer, Alzheimer’s and the COVID-19. According to the deal, Reliance Group will purchase a COVID-19 test kit from bohpharma, which claims a 95 percent accuracy rate for COVID tests. According to preliminary data from clinical trials conducted at Hadassah Medical Centre and Sheba Medical Centre in Israel, the test has a 98 percent success rate when compared to regular PCR tests.
Key Takeaways of the Global COVID-19 Sample Collection Kits Market:
- The global COVID-19 sample collection kits market is expected to exhibit a CAGR of 4.1% during the forecast period, owing to increasing funding by governments. For instance, on March 20, 2020, the Technology Development Board (TDB), a statutory body of the Department of Science and Technology (DST), India, had approved financial support to MyLab Discovery Solutions an India-based diagnostic kits manufacturing company for pathogen detection and viral load monitoring, for ramping up the production of its COVID-19 diagnostic kits. The company had submitted an application in response to its invitation for proposals for technologically innovative solutions towards fighting the COVID-19.
- Among regions, North America is estimated to hold a dominant position in the global COVID-19 sample collection kits market in 2021, owing to increasing product approval by regulatory authorities in the region. For instance, on May 17, 2020, Everlywell, Inc., a U.S.-based manufacturer and supplier of laboratory testing for wellness monitoring, had received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for its COVID-19 Test Home Collection Kit.
- Major players operating in the global COVID-19 sample collection kits market include MyLab Discovery Solutions, Bhat Bio-Tech, Camtech Diagnostics, Angstrom Biotech Pvt. Ltd., Medsource Ozone Biomedicals Pvt Ltd., Neuromics, Oscar Medicare Pvt. Ltd., GenBody Inc., Alimetrix, Binx Health, Clinical Enterprise, Bio-Rad Laboratories, Ethos Laboratories, GetMyDNA, Kroger, LabCorp, RapidRona, EKF Diagnostics, Everlywell, Inc., and Copan Diagnostics
