COVID-19 Sample Collection Kits Market To Reach $1.26 Billion By 2030

COVID-19 Sample Collection Kits Market Growth & Trends

The global COVID-19 sample collection kits market size is expected to reach USD 1.26 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to decline at a CAGR of -18.27% from 2023 to 2030. The continuous approval of diagnostic tests for effective diagnoses of SARS-CoV-2 infection raises the demand for sample collection products, such as swabs and Viral Transport Media (VTM). In addition, a shortage of testing materials such as swabs, reagents, and others has resulted in the proliferation of new players in the space, thereby driving the market revenue.

The regulatory agencies are playing a major role as the key driving force of the market, by safeguarding the product efficiency and accelerating new approvals. For instance, in June 2021, TaqPath COVID-19 Fast PCR Combo Kit 2.0 was introduced by Thermo Fisher Scientific. The kit has an innovative assay design that identifies and diagnoses existing and new COVID-19 variations accurately. The kit has a two-hour turn - around time and includes high-frequency testing. Such developments are aimed at the comfort and convenience of patients, along with minimizing the infection risk for healthcare professionals.

Furthermore, constantly expanding global financing to boost the swab production, which is currently the need of the hour, foment organic revenue growth. Some funding agencies operating in the space are the Washington Entrepreneurial Research Evaluation and Commercialization Hub (WE-REACH), the Foundation for Innovative New Diagnostics (FIND), and the U.S. Department of Health and Human Services (HHS).

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COVID-19 Sample Collection Kits Market Report Highlights

• By product, swabs captured the highest revenue share of 40.95% in 2022. The Centers for Disease Control and Prevention (CDC) and the WHO have recommended nasopharyngeal swab-based diagnostic tests as the preferred mode of testing for SARS-CoV-2 detection. The large volume and usage rate of nasopharyngeal and oropharyngeal swabs has contributed to the growth of this product in the global market

• The diagnostics application segment held the market share of use of 69.89% in 2022. A continuous increase in the number of approvals by the U.S. FDA has significantly propelled segment growth

• By the site of collection, hospitals and clinics are estimated to account for the largest revenue share of 91.99% in 2022 due to the exponential increase in the number of hospitalizations related to the coronavirus.

• The U.S. dominated the North American market in 2021 owing to the largest number of cases and tests carried out in the country. The presence of key players such as COPAN Diagnostics and Roche in the region contributes to the region’s total revenue

• Key participants operating in the space, such as Thermo Fisher, Becton Dickinson, COPAN Diagnostics, and Puritan Medical Products, are constantly boosting their production and supply

• For instance, in February 2022, Becton, Dickinson, and Company partnered with ReturnSafe to incorporate its BD Veritor At-Home Covid-19 test directly into the ReturnSafe testing management system. The BD Veritor At-Home Covid-19 test allows consumers to test without a supervisor at home while providing authentic results since test results can only be viewed with a smartphone. Moreover, in May 2021, New real-time PCR kits and serological tests developed by Vircell were emerging as a possible tool to deal with new emerging variants

COVID-19 Sample Collection Kits Market Segmentation

Grand View Research has segmented the global COVID-19 sample collection kits market based on product, application, site of collection, and region:

COVID-19 Sample Collection Kits Product Outlook (Revenue, USD Million, 2020 - 2030)

• Swabs

  • Nasopharyngeal (NP) Swabs

  • Oropharyngeal (OP) Swabs

  • Nasal Swabs

• Viral Transport Media

• Blood Collection Kits

• Other Consumables

COVID-19 Sample Collection Kits Application Outlook (Revenue, USD Million, 2020 - 2030)

• Diagnostics

• Research

COVID-19 Sample Collection Kits Site of Collection Outlook (Revenue, USD Million, 2020 - 2030)

• Hospitals & Clinics

• Home Test

COVID-19 Sample Collection Kits Regional Outlook (Revenue, USD Million, 2020 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Russia

  • Sweden

  • Denmark

  • Norway

• Asia Pacific

  • China

  • India

  • South Korea

  • Australia

  • Japan

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of COVID-19 Sample Collection Kits Market

• Puritan Medical Products

• COPAN Diagnostics

• Becton, Dickinson and Company

• Thermo Fisher Scientific, Inc.

• Laboratory Corporation of America Holdings

• Lucence Diagnostics Pte Ltd.

• Hardy Diagnostics

• Trinity Biotech

• Quidel Corporation

• Quest Diagnostics

• Danaher Corporation

• Vitagene Inc.

• Formlabs

• HiMedia Laboratories

• VIRCELL S.L.