According to Fact.MR, a market research and competitive intelligence provider, the global swab sticks market is expected to be worth US$ 1.79 billion in 2022 and to grow at a healthy CAGR of 6.1% through 2032.
Spreading health awareness as a result of rising infectious diseases and their consequences is making room for swab sticks, which are recognized as a quick diagnostic tool for specimen collection. For example, the rapid increase in COVID cases necessitated the use of a time-constrained screening tool, such as a swab stick, for rapid sample collection and diagnosis. Furthermore, the availability of sterile and non-sterile, synthetic and non-synthetic swab sticks, as well as their low cost, is increasing the use of swab sticks.
Download Free Sample Copy of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=7219
Swab Sticks Industry Survey by Category
- Swab Sticks Market by Sterility:
- Sterile Swab Sticks
- Non-sterile Swab Sticks
- Swab Sticks Market by Tip Material:
- Cotton swab stick
- Synthetic swab stick
- Swab Sticks Market by Shaft Material:
- Paper Swab Sticks
- Metal/Wire Swab Sticks
- Plastic Swab Sticks
- Wood Swab Sticks
- Swab Sticks Market by Application:
- Specimen Collection
- Disinfection/ Cleaning
- Others
- Swab Sticks Market by End Use:
- Hospitals and ASCs
- Diagnostic Laboratories
- Specialty Clinics
- Pharmaceutical Industry
- Research and Development Centers
- Others
- Swab Sticks Market by Sales Channel:
- B2B Sales of Swab Sticks
- B2C Sales of Swab Sticks
- Online Retailing
- Pharmacy and Drug Store
- Swab Sticks Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- MEA
Get Customization on this Report for Specific Research Solutions – https://www.factmr.com/connectus/sample?flag=RC&rep_id=7219
Competitive Landscape: Top Companies in Swab Sticks Market
The global swab sticks market is partially consolidated in nature owing to the highly-efficient production capacity of leading swab stick manufacturers.
Leading swab stick producers are adopting hybrid growth strategies, i.e., both organic and inorganic. Inorganic strategies such as collaborations and partnerships are helping market players enhance their consumer base and global penetration.
Also, product innovation, as an organic strategic approach, is being adopted by leading companies to cater to market demand by using technical advancements during the pandemic; for instance, 3D-printed swabs accelerated swab stick production during the pandemic.
- Puritan, in April 2021, announced the launch of innovative products and the registration of new patents to protect its innovations. The U.S. Patent and Trademark office issued new patents to protect its innovative flocked swab technology.
- Hologic Inc., in January 2021, acquired Diagenode, a European developer and manufacturer of molecular diagnostics assay products.
Key Takeaways from Market Study
- Sterile swab sticks are expected to garner an absolute $ opportunity of nearly US$ 1.45 Bn over the forecast period (2022-2032).
- Demand for synthetic swab sticks is projected to grow 8X during forecast period, while non-synthetic swab sticks are expected to continue their dominance over the forecast period
- On the basis of application, specimen collection is projected to dominate the swab sticks market by accounting for over 65% market share by 2032.
- The disinfection/ cleaning segment is expected to garner an absolute $ opportunity of nearly US$ 5 Mn over the forecast period.
- Diagnostic laboratories are estimated to account for 42.5% market share by 2032, and are expected to gain 20 BPS over the same time period.
For in-depth competitive analysis, Buy Now – https://www.factmr.com/checkout/7219
Winning Strategy
To enhance production capacity and market penetration, market players are focusing on portfolio expansion. Technological advancements and adherence to government guidelines regarding swab stick materials are driving product innovation. Robust government support to leading manufacturers during the coronavirus pandemic led to a surge in production capacity.
Manufacturers are also aiming for portfolio expansion through acquisitions and collaborations. Collaboration with companies that offer an aligned portfolio help better consumer penetration for manufacturers. Also, acquisition of newly emerged or small-scale manufacturers will support the portfolio expansion of leading market players.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Email: sales@factmr.com
This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.
