Biological Sample Collection Kits Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Biological Sample Collection Kits Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The biological sample collection kits market size has grown rapidly in recent years. It will grow from $9.09 billion in 2023 to $10.20 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increased awareness of disease screening, rise in home healthcare, growing geriatric population, increased focus on preventive medicine, and expansion of infectious disease testing.

The biological sample collection kits market size is expected to see rapid growth in the next few years. It will grow to $16.23 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to increasing preference for point-of-care testing, rising incidence of chronic diseases, rising demand for remote patient monitoring, growing emphasis on preventive healthcare, and rising awareness about infectious diseases. Major trends in the forecast period include point-of-care testing, technological advancements, microfluidics, personalized medicine, and remote patient monitoring.

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Market Drivers and Trends:

The rise in the number of infectious diseases is expected to propel the growth of the biological sample collection kits market going forward. Infectious diseases are illnesses caused by pathogenic microorganisms such as bacteria, viruses, fungi, or parasites that can be transmitted from person to person. Infectious diseases are on the rise due to factors such as increased global travel, urbanization, antimicrobial resistance, environmental changes, and inadequate healthcare infrastructure. Biological sample collection kits are crucial in infectious disease management, enabling the safe and efficient collection of specimens for diagnosis, monitoring, and research purposes. For instance, in November 2023, according to the Centers for Disease Control and Prevention, a US-based government department, in 2022, the United States reported 8,331 tuberculosis (TB) cases, marking a 5.9% rise in the number of cases compared to 2021. The incidence rate was 2.5 cases per 100,000 people, reflecting a 5.5% increase compared to the previous year. Therefore, the rise in the number of infectious diseases is driving the growth of the biological sample collection kits market.

Major companies operating in the biological sample collection kits market are developing innovative products, such as personalized diagnostic test kits, to better serve customers with advanced features. Personalized diagnostic test kits are tools designed to detect specific biomarkers or genetic information tailored to an individual's unique health profile for a customized medical diagnosis. For instance, in March 2023, Cue Health, a US-based diagnostic test service provider, launched at-home diagnostic test kits. This at-home test kit includes all the necessary supplies for safe, easy, and private sample collection. Once the sample is sent to and processed by an independent, CLIA-certified laboratory, clear and understandable results are securely delivered to the customer through the Cue Health App, along with information about their condition or concern.

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Major Key Players of the Market:

Roche Holding AG, Thermo Fisher Scientific Inc., Abbott Laboratories, 3M Company, Danaher Corporation, Medline Industries Inc., Siemens Healthineers, Becton, Dickinson and Company, Quest Diagnostics, Avantor Inc., Hologic Inc., Formlabs Inc., Hardy Diagnostics Co, Puritan Medical Products Inc., Copan Diagnostics Inc., HiMedia Laboratories Pvt. Ltd., Omega Laboratories Ltd, VIRCELL S.L., Titan Biotech Ltd., BTNX Inc., Mantacc, FL Medical S.R.L.

Biological Sample Collection Kits Market 2024 Key Insights:

• The biological sample collection kits market size is expected to see rapid growth in the next few years. It will grow to $16.23 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%.
• Growth of Biological Sample Collection Kits Market Driven By Rise In Infectious Diseases
• Innovation In Biological Sample Collection Kits Enhanced Market Growth
• North America was the largest region in the biological sample collection kits market in 2023

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