Market Research Report
Medical Sterile Swabs Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Cotton Tipped Swabs, Foam Tipped Swabs, Non- woven Swabs, and Others); End-User (Hospital, Clinics, Diagnostic Laboratories, and Others), and Geography
|Medical Sterile Swabs Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Cotton Tipped Swabs, Foam Tipped Swabs, Non- woven Swabs, and Others); End-User (Hospital, Clinics, Diagnostic Laboratories, and Others), and Geography|
Published: October 26, 2020
The Insight Partners
Content info: 152 Pages
Delivery time: 1-2 business days
The medical sterile swabs market was valued at US$ 2,663.03 million in 2019 and is projected to reach US$ 4,586.05 million by 2027; it is expected to grow at a CAGR of 7.0% from 2020 to 2027.
The growth of the medical sterile swabs market is mainly attributed to the broader applications of medical sterile swab, growing demand of sterile swab for SARS-CoV-2 detection, and 3D printed sterile swabs. However, challenges associated with sterile swab are projected to hamper the market growth.
The demand for sterile medical swab has increased dramatically due to rising cases of COVID-19. According to the Worldometers, as of October 21, 2020, there are 9,288,341 active cases. Therefore, it is estimated that each case will undergo a swab test twice or thrice until they are completely recovered from COVID-19. Regions such as Europe and Asia are experiencing significant rise in the number of COVID-19 cases.
As COVID-19 is associated with respiratory problems, the nasal and nasopharyngeal testing is considered gold standard for detecting respiratory tract pathogens. Hence, the samples are collected from mouth, nose, and throat. These areas require deep insertion of collecting tools and the long handle or shaft of sterile swabs helps in easy collection of samples. Additionally, due to the contamination-free nature of sterile swabs offers efficient results from the samples collected from patients' from mouth, nasal, and throat, resulting in increased demand of sterile swabs.
Moreover, long handle or shaft of the sterile swabs helps reducing the chances of spreading infection from patient to the healthcare professional. Therefore, considering the benefits provided by the sterile swabs, the demand for sterile swabs has increased among the end users, which, in turn is driving the market growth.
Based on product, the medical sterile swabs market is segmented into cotton tipped swabs, foam tipped swabs, non-woven swabs, and others. The cotton tipped swabssegment held the largest share of the market in 2019;however, non-woven swabs segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end-user, the medical sterile swabs market is segmented into hospital, clinics, diagnostic laboratories, and others. The hospital segment held the largest share of the market in 2019;however, thediagnostic laboratories segment is expected to register CAGR in the market during the forecast period.
The Food and Drug Administration (FDA), Centers For Disease Control And Prevention, European Centre for Disease Prevention and Control, National Cancer Centre Singapore, and China's Ministry of Commerceare among the major secondary sources referred for preparing this report.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the medical sterile swabs market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global medical sterile swabsmarket, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.