Nasopharyngeal Swabs Market
Nasopharyngeal Swabs Market (Product: Foam Tipped Swabs, Non-woven, and Others; and End User: Hospitals & Clinics, Diagnostic Laboratories, and Other End Users) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Increasing Focus on Curbing Transmission of Novel Coronavirus to Aid Market Growth
The onset of the COVID-19 pandemic is one of the primary factors expected to drive the demand for nasopharyngeal swabs particularly in 2020. The exponential rise in the demand for nasopharyngeal swabs is likely to bolster the growth of the global nasopharyngeal swabs market in the first half of the forecast period. As healthcare providers and frontline workers are increasingly urging individuals to carry out a test to detect the novel SARS-CoV-2 virus, the demand for nasopharyngeal swabs around the world continues to grow. Moreover, anticipating a further rise in the demand for nasopharyngeal swabs in the upcoming months, governments of several nations are now focusing on streamlining the procurement process for nasopharyngeal swabs across rural and urban health departments.
A number of companies have entered the global nasopharyngeal swabs market, especially in 2020, due to the rising demand for the same from across the world. Market players are anticipated to focus on the production of nasopharyngeal swabs in line with guidelines and instructions of the FDA and other authoritative bodies. As the SARS-CoV-2 test results are one of the key indicators whether an individual is infected by the novel coronavirus, its adoption continues to grow worldwide. Hospitals and clinical laboratories are the most prominent end users of nasopharyngeal swabs and the trend is likely to continue in the upcoming years.
In addition, due to increasing focus on lifting lockdown restrictions to minimize economic losses, sports activities, industries, and the entertainment sector in several regions of the world have been reopened due to which testing has increased. This is another major factor fueling the growth of the global nasopharyngeal swabs market.
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Increasing Demand for RT-PCR Detection of SARS-CoV-2 to Augment Market
Due to the significant rise in the number of COVID-19 patients in several parts of the world, nasopharyngeal swab collection has witnessed considerable growth– a factor that is anticipated to propel the nasopharyngeal swabs market during the assessment period. The increasing focus on curbing the transmission of the novel coronavirus and preventing the progression of the disease to a life-threatening stage is another factor expected to propel the demand for nasopharyngeal swabs, particularly in 2020. Furthermore, focus on rapid diagnosis and streamlining the process of contact tracing across communities are likely to play an imperative role in the development of the global nasopharyngeal swabs market in the first half of 2021.
Research and development activities are expected to imperative in improving the reliability of the nasopharyngeal swab tests due to which, the adoption is further estimated to grow and potentially replace saliva testing. Several studies continue to focus on evaluating the diagnostic value of both the sample types– saliva as well as nasopharyngeal swabs.
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Testing Slows Down amid Shortage of Medical & Lab Supplies
The transmission of the coronavirus continues at a blazing pace in several regions of the world. Hence, there is a considerable shortage of lab supplies, including specialized nasopharyngeal swabs that are required for sample collection. A number of suppliers and players involved in the nasopharyngeal swabs market are focusing on increasing their production capacity to cater to the swelling demand for nasopharyngeal swabs. Several suppliers have been approved by the FDA in the U.S. and other bodies in different nations that are focusing on addressing the increasing demand. While sample collection to detect the presence of the SARS-CoV-2 is expected to remain the primary application, antigen of the upper respiratory secretion is being collected from different types of swabs, including nasopharyngeal swabs for laboratory diagnosis of influenza virus infection.
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The global nasopharyngeal swabs market is expected to expand at a sluggish CAGR of ~2% during the forecast period. Although the market growth will be relatively rapid during the first half of the forecast period due to the onset of the novel COVID-19 pandemic, the demand is likely to slow down in the second half of the assessment period. Players involved in the current nasopharyngeal swabs market are mainly focusing on increasing their production capacity to cater to the soaring demand for nasopharyngeal swabs at present. In addition, market players are anticipated to improve operations across the supply chain and gain the approval from the FDA and other regulatory bodies.
Nasopharyngeal Swabs Market: Overview
- According to Transparency Market Research’s latest market report on the global nasopharyngeal swabs market for the historical period 2018–2019 and forecast period 2020–2030, increase in demand for nasopharyngeal swabs, owing to COVID-19 pandemic is projected to drive the global nasopharyngeal swabs market in the near future
- According to the report, the global nasopharyngeal swabs market was valued at ~US$ 103 Mn in 2019 and is anticipated to expand at a CAGR of ~2% from 2020 to 2030
Exponential Rise in Demand amid COVID-19 Pandemic to Augment Market
- The demand for nasopharyngeal swabs has increased during the COVID-19 (coronavirus) pandemic. Research institutes and labs have intensified their experiments for developing COVID-19 vaccines. Hence, companies in the nasopharyngeal swabs market have increased their production capacities to develop products useful for viral collection, maintenance, and culture. For instance, Innovative Research, a manufacturer of high quality and affordable research materials, is developing viral transport medium to support global research in COVID-19.
- Rapid antigen testing and molecular assay experiments have fueled the demand for nasopharyngeal swabs during the ongoing coronavirus crisis. Long-term freezers and direct fluorescent antibody (DVA) applications are creating incremental opportunities for companies in the nasopharyngeal swabs market. These are following the Centers for Disease Control and Prevention recommendations to develop the formulations of products.
Sterile Swabs Facilitate Minimal Contact of Healthcare Workers with COVID-19 Samples
- Overwhelming repercussions of the COVID-19 outbreak are being experienced in various sectors. In order to stabilize business activities like before, there is an unprecedented demand for COVID-19 vaccines to revive economic growth worldwide. Hence, technologists at the Sree Chitra Triunal Institute for Medical Sciences and Technology (SCTIMST) and Mallelil Industries co-developed oral and nasal swabs for COVID-19 testing. Companies in the nasopharyngeal swabs market are increasing the availability of sterile and ready-to-use swabs for COVID-19 testing.
- COVID-19 cases continue to rise in India. Hence, companies in the nasopharyngeal swabs market in India are manufacturing polymeric foam-tipped swabs with flexible plastic handles to deliver efficient recovery of viral RNA. Improved specimen collection with minimum discomfort to patients is the key to develop oral and nasal swabs. However, minimal contact of healthcare workers with samples during packing is another important aspect of COVID-19 testing.
False Negatives and Reinfections Hamper Diagnosis of COVID-19 in Patients
- The nasopharyngeal swabs market is projected to expand at a sluggish CAGR of ~2% during the forecast period. This is evident from false negatives and reinfection surfacing in COVID-19 diagnosis. Consequently, healthcare professionals are facing issues to test performance and interpretation of COVID-19 testing, as the level of viral RNA in many cases is below the limit of detection. Hence, manufacturers in the nasopharyngeal swabs market are following CDC guidelines to develop products that facilitate appropriate specimen collection.
- A good specimen collection leads to accurate results, thereby improving clinical outcomes for COVID-19 testing. Hence, nasopharyngeal swabs are being highly publicized for COVID-19 testing and is recommended by the CDC. On the other hand, manufacturers are developing nasal turbinate swabs and self-collected swabs for efficient collection of the coronavirus using saliva to diagnose the infection.
Nasopharyngeal Swabs Market: Competition Landscape
- This report profiles major players in the global nasopharyngeal swabs market based on various attributes such as company overview, nasopharyngeal swabs cost analysis, pricing analysis, cost analysis, financial overview, product portfolio, business strategies, and recent developments in the global nasopharyngeal swabs market
- The global nasopharyngeal swabs market is highly consolidated, with the presence of a small number of players
- Leading players in the global nasopharyngeal swabs market include
- Thermo Fisher Scientific, Inc.
- C. R. Bard, Inc.
- Medical Wire & Equipment
- Titan Biotech Ltd.
- COPAN Diagnostics, Inc.
- Miraclean Technology Co., Ltd.
- Puritan Medical Products
- YOCON Biology
- Trinity Biotech
- VIRCELL S.L.
- Quidel Corporation
Nasopharyngeal Swabs Market: Key Developments
- Key players in the global nasopharyngeal swabs market are engaged in regulatory approvals, introduction of technologically advanced products, acquisitions, and collaborative agreements with other companies. These strategies adopted by key players are likely to augment the global nasopharyngeal swabs market.
- The report on the global nasopharyngeal swabs market discussed individual strategies, followed by company profiles of manufacturers of nasopharyngeal swabs products. The competition landscape section has been included in the nasopharyngeal swabs market report to provide readers with a dashboard view and a company market share analysis of key players operating in the global nasopharyngeal swabs market.
Nasopharyngeal Swabs Market – Scope of the Report
TMR’s report on the global nasopharyngeal swabs market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides revenue of the global nasopharyngeal swabs market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global nasopharyngeal swabs market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global nasopharyngeal swabs market.
Secondary research included Internet sources, statistical data from government agencies, websites, companies’ presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global nasopharyngeal swabs market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global nasopharyngeal swabs market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global nasopharyngeal swabs market.
The report delves into the competition landscape of the global nasopharyngeal swabs market. Key players operating in the global nasopharyngeal swabs market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global nasopharyngeal swabs market that have been profiled in this report.
Key Questions Answered in Nasopharyngeal Swabs Market Report
- What is the scope of growth of products in the global nasopharyngeal swabs market?
- What will be the Y-o-Y growth of the global nasopharyngeal swabs market between 2020 and 2030?
- What is the influence of changing trends in product material on the global nasopharyngeal swabs market?
- Will North America continue to be the most profitable market for nasopharyngeal swabs providers?
- Which factors are anticipated to impede the growth of the global nasopharyngeal swabs market during the forecast period?
- Which are the leading companies in the global nasopharyngeal swabs market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global nasopharyngeal swabs market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global nasopharyngeal swabs market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the nasopharyngeal swabs market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as validation from the nasopharyngeal swabs market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global nasopharyngeal swabs market with accuracy. The study also uses the top-down approach to assess the revenue for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global nasopharyngeal swabs market more reliably and accurately.
Nasopharyngeal Swabs Market – Segmentation