Growing Health Awareness and Technical Advancement to Boost Global Swab Sticks Market, States Fact.MR

Posted on 2022-09-11 by Fact.MR in Internet & Online // 0 Comments

Dublin, Ireland, 2022-Sep-11— /EPR Network/ —

According to detailed industry analysis by Fact.MR, a market research and competitive intelligence provider, the global swab sticks market is estimated to be valued at US$ 1.79 Bn in 2022, and further expand at a healthy CAGR of 6.1% through 2032.

Spreading health awareness because of rising infectious diseases and their consequences is creating a space for swab sticks, as these are recognized as a rapid diagnostic tool for specimen collection. For instance, accelerated growth of COVID cases demanded a time-constrained screening tool, such as a swab stick, for rapid sample collection and diagnosis. Additionally, easy accessibility of sterile and non-sterile, synthetic and non-synthetic, as well as easy affordability is strengthening the use of swab sticks.

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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 1.8X 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$ 298.5 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.

“Sales of swab sticks are expected to reach 1,22,111.4 Mn units by 2032-end,” says a Fact.MR analyst.

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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.

For instance, increased COVID-19 cases raised the demand for swab sticks with viral transport medium because of the necessity for quick screening. Besides SARS-CoV-2, other infectious diseases needing swab sticks for sample collection include HIV, influenza, diphtheria, pneumonia, and others.

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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 Swab Sticks Market
- Latin America Swab Sticks Market
- Europe Swab Sticks Market
- East Asia Swab Sticks Market
- South Asia & ASEAN Swab Sticks Market
- Oceania Swab Sticks Market
- MEA Swab Sticks Market

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More Valuable Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global surgical mesh market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of sterility (sterile, non-sterile), tip material (cotton, synthetic), shaft material (paper, metal/wire, plastic, wood), application (specimen collection, disinfection/ cleaning, others), end use (hospitals & ASCs, diagnostic laboratories, specialty clinics, pharmaceutical industry, research and development centres, others), and sales channel (B2B, B2C), across seven major regions (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and MEA).

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