Medical Swabs Market Size to Touch $4.59 billion by 2028; Launch of Rapid Antigen Nasal Test by Roche Diagnostics to Aid Expansion

The global medical swabs market size is anticipated to hit USD 4.59 billion by 2028, attributable to the current coronavirus pandemic. These swabs are used for collecting test samples from patients suffering from various diseases. According to a recent report by Fortune Business Insights titled, “Medical Swabs Market Size, Share & COVID-19 Impact Analysis, By Type (Cotton Tipped, Foam Tipped, 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, 2021-2028,” the market size stood at USD 2.67 billion in 2020 and USD 2.88 billion in 2021, exhibiting a CAGR of 6.9% between 2021 to 2028. The growing infectious disease prevalence is predicted to foster growth for the market.

Launch of 3D-Printed Nasopharyngeal Testing Swab by Qosina to Aid Growth

Qosina announced the availability of a sterile 3D-printed nasopharyngeal COVID-19 testing swab to collect nasal mucosa specimens. Resolution Medical developed the 3D-printed sterile swab, an in vitro diagnostic and medical device maker, as a cost-effective alternative to the typical flocked nasopharyngeal swab. It's made fast with pre-existing, industry-approved components and a 3D printing technology called Carbon Digital Light Synthesis (Carbon DLS). The swab is 5.9 inches long, with a soft, lattice-style cage around a flexible helical core that allows the swab to adapt more easily to the nasal cavity's organic route.

Increased COVID-19 Rapid Tests to Fuel Growth

Increased demand for sterile swabs for specimen collection, disinfection, and other uses has resulted from quick testing processes to the market. The development of the COVID-19 pandemic in 2020, for example, resulted in a surge in fast testing due to an increase in coronavirus infections. Furthermore, Stanford University of Medical started research in June 2020 to offer a self-swabbing test for COVID-19 diagnosis. In June 2020, the FDA approved Cue's Health's POC COVID-19 test kit, which uses a swab approach to retrieve a nasal sample. The increasing acceptance of fast testing by end-users is expected to boost the medical swab market growth during the forecast period.

On the negative side, the shortage of supply of medical swab by production industries are likely to cause hindrance to the market in the coming years. Nevertheless, the availability of various types of medical swabs such as cotton-tipped, foam-tipped, non-woven swabs, and others are anticipated to create lucrative growth opportunities for the market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/medical-swabs-market-103318

Companies focus on Expanding Supply Chain to Gain Competitive Edge

The competitive landscape of the global medical swabs market is highly fragmented on account of the presence of both small- and large-scale companies. Out of these, Puritan Medical Products is currently leading the market. The growth of this region is attributed to the presence of a robust portfolio and increasing emphasis on product expansion over various geographies. The other players are engaging in mergers and acquisitions, contracts and agreements, and other collaborative strategies to maintain a strong foothold in the market competition.

Industry Development:

• March 2021: Roche Diagnostics introduced a rapid antigen nasal test in the UK. The latest addition to Roche's COVID-19 portfolio is the test to support healthcare systems in diagnosing SARS-CoV-2 infection.

List of Significant Players in the Market include:

• FL MEDICAL srl (Italy, Europe)
• Copan Diagnostics Inc. (Italy, Europe)
• 3M (Minnesota, U.S.)
• BD (New Jersey, U.S.)
• Puritan Medical Products (Maine, U.S.)
• Advacare Pharma (Maharashtra, India)
• Dynarex (New York, U.S.)
• DLS Medical (U.K., Europe)

Further Report Findings

• North America generated a revenue of USD 1.10 billion in 2020 and earned the largest medical swab market share attributed to the growing prevalence of infectious diseases that require continuous diagnostic procedures.
• Based on segmentation, by application, the specimen collection segment earned the largest market share, owing to the currently prevailing COVID-19 pandemic.

Table of Segmentation-