Medical Sterile Swabs Market Drivers and Players [2021-2031]
The medical sterile swabs market was valued at US$ 3.04 billion in 2021 and is expected to reach US$ 6.19 billion by 2031. The market is expected to register a CAGR of 8.6% in 2023–2031. Ongoing research application will likely remain a key medical sterile swabs market trend.
Medical Sterile Swabs Market Analysis
A medicated absorbent pad, stick, or material used as a single-use item in the medical field is called a medical swab. Typically, it is constructed from high-quality pharmaceutical-grade materials including foam, rayon, sterile cotton, and polyester that are further sanitized before being distributed using ethylene oxide gas or gamma irradiation. Because they contain absorbent ingredients with therapeutic characteristics, they are commonly used for wound cleaning, surgical procedures, and first aid, among many other applications. In general medicine and forensics, a medical swab is perfect for environmental sampling, transportation, and culture. Swabs are utilized during preoperative cleaning in addition to seeding plates, isolating germs in culture media, and making smears.
Medical Sterile Swabs Market Overview
The advent of fast testing processes in healthcare facilities is the primary driver of the industry. This is explained by the fact that surgeries and hospital-acquired infections (HAIs) are becoming more commonplace worldwide. Accordingly, there is a surge in the market for diagnostic techniques and goods as a result of the unexpected increase in infectious diseases. The market is also being positively impacted by ongoing technology developments, such as the introduction of automated swabs, lollipop swabs, and self-administering swabs that encourage user-friendly usage. In addition, a notable increase in the quantity of research labs, diagnostic centers, and point-of-sale (POS) centers is contributing significantly to the market expansion.
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Medical Sterile Swabs Market: Strategic Insights
Market Size Value in US$ 2,663.03 Million in 2019 Market Size Value by US$ 4,586.05 Million by 2027 Growth rate CAGR of 7.0% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Medical Sterile Swabs Market: Strategic Insights
| Market Size Value in | US$ 2,663.03 Million in 2019 |
| Market Size Value by | US$ 4,586.05 Million by 2027 |
| Growth rate | CAGR of 7.0% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Medical Sterile Swabs Market Drivers and Opportunities
Growing Demand of Sterile Swabs for SARS-CoV-2 Detection
The demand for sterile medical swabs has increased dramatically due to rising cases of COVID-19. According to the Worldometers, as of October 21, 2020, there are 9,288,341 active cases. Therefore, it is estimated that each case will undergo a swab test twice or thrice until they have completely recovered from COVID-19. Regions such as Europe and Asia are experiencing significant rise in the number of COVID-19 cases.
As COVID-19 is associated with respiratory problems, the nasal and nasopharyngeal testing is considered gold standard for detecting respiratory tract pathogens. Hence, the samples are collected from mouth, nose, and throat. These areas require deep insertion of collecting tools and the long handle or shaft of sterile swabs helps in easy collection of samples. Additionally, due to the contamination-free nature of sterile swabs offers efficient results from the samples collected from patients’ from mouth, nasal, and throat, resulting in increased demand of sterile swabs.
Ongoing Research Application – An Opportunity in Medical Sterile Swabs Market
Healthcare is a diversified industry, which has never-ending opportunities for various medical devices. The factors such as increasing incidences of chronic diseases, growing technologies, growing demand for continuous research in clinical and diagnostics applications, and rising demand from patients to diagnose their health conditions are likely to promote the production of diagnostic tools. The growing population and rising need for healthcare systems to treat health conditions are expected to drive the market's growth during the forecast period.
The technological advancement in the healthcare industry is a major trend that is leading to the innovations of various methods of introducing a new competency genomics (MINC) toolkit. The rise in MINC is seen due to rise in the molecular diagnostics and integration of genomic in medical treatments. It demands tools such as sterile swabs for collecting and transferring DNA samples for further analysis and procedures. Thus, ongoing research applications and the continued technological development trend will enhance the growth of the market during the forecast period.
Medical Sterile Swabs Market Report Segmentation Analysis
Key segments that contributed to the derivation of the medical sterile swabs market analysis are disorder and service providers.
- Based on test product, the medical sterile swabs market is segmented into cotton tipped swabs, foam tipped swabs, non-woven swabs, others. The cotton tipped segment held a larger market share in 2023.
- By end users, the medical sterile swabs market is segmented into hospital, clinics, diagnostic laboratories, other. The public hospital segment held the largest share of the market in 2023.
Medical Sterile Swabs Market Share Analysis by Geography
The geographic scope of the medical sterile swabs market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
As the largest global shareholder in the medical swabs market, Asia-Pacific is expected to develop significantly over the course of the projected period. The market is growing because of the growing number of senior people, the occurrence of chronic illnesses, and the frequency of surgical procedures performed in hospitals, ASCs, and other healthcare facilities. Most of the elderly in the area are suffering from chronic illnesses including cancer and heart problems, which often require surgery to treat. As a result, the frequency of these chronic illnesses has increased the need for diagnostic testing in the area, which has raised the need for medical samples.
In addition, the market's need for medical samples has grown due to the large population and the need for population-scale testing. In Asia-Pacific, there will be 710 metropolitan regions and cities home to 226 million seniors (65 years of age or older) by 2025, accounting for 11.4% of the region's total population. The region's hospital admission rate is rising along with the need for medical devices in hospitals due to this demographic change toward an elderly population.
Medical Sterile Swabs Market Report Scope
Medical Sterile Swabs Market News and Recent Developments
The medical sterile swabs market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for medical sterile swabs:
- A nationwide testing and wellness company, Sameday Health, has announced that their single swab test for COVID-19, influenza A/B strains, and respiratory syncytial virus (RSV) is now available. (Source: Sameday Health, 2022).
- With the introduction of the revolutionary ELEbotTM Decapper and the patent-pending ELEsticTM swab collection equipment, Rhinostics brought about yet another technological breakthrough in automated sample collection. (Source: Rhinostics, Press Release, 2023).
Medical Sterile Swabs Market Report Coverage and Deliverables
The “Medical Sterile Swabs Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; End-User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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