Press release
Swab Sticks Market is Predicted to Reach US$ 3.24 Billion at a CAGR of 6.1% by 2032
The global swab stick market is expected to reach US$ 1.79 billion in 2022. Swab stick sales are expected to reach $3.24 billion in the US by 2032, expanding at a CAGR of 6.1% between 2022 and 2032. Swab sticks have seen an increase in demand, particularly after the COVID outbreak began. The market is being driven by the medical swabs' ease of use, low cost, and quick screening.The availability of different shaft and swab materials has led to an increase in the use of swabs and shafts in sectors other than healthcare. These factors are expected to result in a 1.8X rise in swab stick sales between 2022 and 2032.
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Which Region Accounts for High Demand for Swab Sticks?
The greatest market share, 35.3%, belongs to the swab stick market in Europe. During the forecast years, it is expected that the regional market would grow at a CAGR of 6.3%.
The large per capita disposable income is what is driving the market. Medical swab stick market expansion in the European area is also being fueled by increasing government investment on the medical device sector.
However, over the historical years of 2017-2021, South Asia and the ASEAN area saw the sharpest development in swab stick consumption.
Competitive Landscape
The highly effective manufacturing capacity of the top swab stick producers has led to a partial consolidation of the global swab stick market.
Leading swab stick manufacturers are utilising both organic and inorganic growth tactics. Market participants are increasing their consumer base and global penetration with the aid of inorganic techniques like partnerships and collaborations.
Leading businesses are also embracing product innovation as an organic strategy to meet market demand during the epidemic. For instance, 3D-printed swabs sped up the production of swab sticks during the pandemic.
Key Companies Profiled
• BD
• PURITAN
• COPAN
• DELTALAB
• Hologic Inc.
• Formlabs
• OraSure Technologies
• Hygiena
• AdvaCare
• Aptaca
How Unfolding of Infectious Disease Driving Demand for Swab Sticks?
Due to a variety of risk factors, the healthcare industry has a significant deal of difficulty detecting and containing the spread of infectious diseases. Swab sticks are becoming more and more popular as infectious diseases proliferate over the world because of how simple it is to use them to gather samples for testing.
For instance, the demand for swab sticks containing viral transport medium surged due to the urgency of screening required by a spike in COVID-19 cases. Swab sticks are also required for sample collection for HIV, influenza, diphtheria, pneumonia, and other infectious diseases in addition to SARS-CoV-2.
The global swab stick market is therefore predicted to benefit from the rise in infectious diseases. The demand for swab sticks will probably increase by 1.8X over the evaluation period.
Swab Sticks Market: Segmentation
Swab Sticks Market by Sterility:
o Sterile Swab Sticks
o Non-sterile Swab Sticks
Swab Sticks Market by Tip Material:
o Cotton swab stick
o Synthetic swab stick
Swab Sticks Market by Shaft Material:
o Paper Swab Sticks
o Metal/Wire Swab Sticks
o Plastic Swab Sticks
o Wood Swab Sticks
Swab Sticks Market by Application:
o Specimen Collection
o Disinfection/ Cleaning
o Others
Swab Sticks Market by End Use:
o Hospitals and ASCs
o Diagnostic Laboratories
o Specialty Clinics
o Pharmaceutical Industry
o Research and Development Centers
o Others
Swab Sticks Market by Sales Channel:
o B2B Sales of Swab Sticks
o B2C Sales of Swab Sticks
ï‚§ Online Retailing
ï‚§ Pharmacy and Drug Store
Swab Sticks Market by Region:
o North America
o Latin America
o Europe
o East Asia
o South Asia & ASEAN
o Oceania
o MEA
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Key Highlights
• The study analyses the state of the latest worldwide Swab Sticks market.
• The paper investigates the pandemic scenarios that are most likely to have a long-term impact on the sector.
• The paper examines in great detail how the world market for Swab Sticks is changing.
• The research examines how the worldwide Swab Sticks market is changing, the target markets with the greatest prospects, and emerging trends that could directly or indirectly affect your organisation.
• The report identifies prospects as well as the main obstacles you may face in the near future.
Check out more related studies published by Fact.MR Research:
https://www.newswire.co.kr/newsRead.php?no=947698
https://www.newswire.co.kr/newsRead.php?no=948105
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