The alarming increase in the number of COVID-19 cases worldwide and the inadequacy of laboratory-based testing infrastructure are key factors that encourage the use of new swabs and virus delivery media. In addition, government agencies are pushing for faster approval of products on the market in order to enter the open market faster. These trends will support the swab and virus transport media market until the end of the pandemic.
During the forecast period from 2020 to 2030, the swab and virus transmission media market is expected to grow slowly at a compound annual growth rate of 1.2%. Increasing incidence of infectious diseases and large-scale growth in densely populated cities have boosted the demand for swabs and virus delivery media. Even after the epidemic is over, innovations in accuracy, faster results, and ease of use It will also provide support for the industry.
“In early 2020, the US FDA approved the use of synthetic swabs for coronavirus testing. This allows potential patients to test themselves, thereby minimizing the exposure of the virus to medical professionals. In addition, manufacturers are vigorously developing polyester Swabs to meet the growing demand for COVID-19 diagnosis,” FMI analysts said.
Major swab and virus transport media manufacturers are struggling to keep up with the huge global demand. Despite the government’s funding and financial assistance, even if producers strive to increase production, shortages may affect the market. In addition, swabs used for COVID-19 testing require unique designs and materials, which will affect the market prospects.
The disruption of the supply chain of raw materials such as plastics and reagents is affecting the availability of swabs and virus transport media in hospitals and clinics. Therefore, the government is directing manufacturing resources to meet the growing demand for testing. On the other hand, the high demand for COVID-19-related products is affecting swabs and virus transport media for other diseases, thereby affecting market growth. Controlling the pandemic is critical to maintaining the level of demand before the coronavirus outbreak.
Top manufacturers in the decentralized swab and virus transport media market are pushing for new product releases and are also investing in increased production capacity to generate new sources of revenue.
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Post time: Jun-02-2021