The global virology specimen collection market size was US$ 4,445.1 million in 2021. The global virology specimen collection market is projected to grow to US$ 8,961 million by 2030 by growing at a compound annual growth rate (CAGR) of 8.3% during the forecast period from 2022 to 2030.

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The procedure of gathering substances for close-patient testing or laboratory analysis is known as specimen collection. The sample collection kit comes with the necessary supplies and chemicals for gathering samples and sending them to the testing lab.

The COVID-19 disease outbreak significantly upsurged drug discovery and research efforts. The large pool of patients notably posed pressure on the healthcare industry to develop novel medicine. As a result, it positively influenced the virology specimen collection market. Simultaneously, significant interruptions in the vendor supply chains challenged the virology specimen collection market.

In various parts of the world, the market witnessed increased investments in the healthcare sector. For instance, the government of the US inked a deal to invest around US$ 626 million in Celltrion (South Korea) and US$ 554.4 million in Abbott in 2021. Through this deal, the government planned to provide rapid COVID-19 tests for nursing homes and other high-risk populations. Thus, increased investments in the industry positively influenced the virology specimen collection market.

One of the main factors driving the demand for efficient virology specimen collection is the increased prevalence of viral infections like AIDS, the flu, SARS-CoV-2, EBOLA, etc. The World Health Organization (WHO) estimates that at the end of 2020, there were nearly 37.7 million HIV-positive persons worldwide. In 2020, nearly 1.5 million individuals contracted the illness, and around 680,000 people perished from HIV-related causes. Thus, the high prevalence of the disease will drive the growth of the virology specimen collection market.

Rising investments in healthcare and growing efforts undertaken to bring advancements in healthcare are projected to contribute to the growth of the virology specimen collection market during the analysis period. The appearance of the infectious Delta version of COVID-19 has also raised the need for tests in recent months. For instance, in August 2020, the US Department of Defense awarded a contract worth USD 51 million to Puritan Medical Products (US) in coordination with the Department of Health and Human Services (HHS), with the aim to help the company increase its monthly production capacity of flock tip testing swabs to 50 million swabs by March 2021.

On the flip side, the high cost of virology specimen collection technologies may limit the growth of the market during the analysis timeframe.

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North America is projected to dominate the virology specimen collection market as countries like the US stand first in the advanced healthcare infrastructure. The Asia-Pacific virology specimen collection market will also record potential growth as the region witnessed the dramatic impact of COVID-19, which increased funding in this sector. The Asian Development Bank (ADB) announced in April 2021 a US$ 31.6 billion aid package for the Asia and Pacific area in 2020 to address the epidemic and boost green and sustainable green recovery in response to the growing pandemic. Therefore, the virology specimen collecting market is anticipated to rise as a result of an increase in government financing.

• Hardy Diagnostics (US) • Puritan Medical Products (US) • COPAN Diagnostics (US) • Becton, Dickinson, and Company (US) • Thermo Fisher Scientific, Inc. (US) • BNTX Inc. (Germany) • Formlabs (US) • Medline Industries, Inc. (US) • Laboratory Corporation of America Holdings (US) • VIRCELL S.L. (Spain) • Lucence Diagnostics Pte Ltd. (US) • HiMedia Laboratories (India) • Other Prominent Players

The global virology specimen collection market segmentation focuses on Product, Application, End User, and Region.

Global Virology Specimen Collection Market, By Product Type • Swabs • Nasopharyngeal (NP) Swabs • Oropharyngeal (OP) Swabs • Viral Transport Media • Blood Collection Kits • Others

Global Virology Specimen Collection Market, By Application • Diagnostics • Research

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Global Virology Specimen Collection Market, By End User • Hospitals & Clinics • Diagnostic Centers • Others

Global Virology Specimen Collection Market, By Region • North America • The U.S. • Canada • Mexico • Europe • Western Europe • The UK • Germany • France • Italy • Spain • Rest of Western Europe • Eastern Europe • Poland • Russia • Rest of Eastern Europe • Asia Pacific • China • India • Japan • Australia & New Zealand • ASEAN • Rest of Asia Pacific • Middle East & Africa (MEA) • UAE • Saudi Arabia • South Africa • Rest of MEA • South America • Brazil • Argentina • Rest of South America

Key questions answered in the global chemical market report are:

— How does a global company acquire markets? — What are its core strategies and policies? — What factors will influence the chemical market over the forecast period? — What are the factors driving and restraining the market for chemicals? — What are the leading competitors in the global market? — Which region is growing at a higher pace in the global market?

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