Home Healthcare Swab Market to Surpass US$ 1.02 Billion by 2026
Swab Market to Surpass US$ 1.02 Billion by 2026

Swab Market to Surpass US$ 1.02 Billion by 2026

Increasing prevalence of accidents and falls cause’s injuries, which is expected to increase surgical procedures, in turn driving swab market growth. According to World Health Organization (WHO) factsheet in 2018, annually there are around 37.3 million falls, which require medical attention, whereas an estimated 646,000 individuals die annually from falls globally.

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Moreover, increasing prevalence of cardiovascular disease is expected to propel treatment via surgery, which is expected to boost the market growth. According to the, World Health Organization (WHO) published in 2009, around 3.8 million men and 4.4 million women die annually from coronary heart disease worldwide. Moreover, according to the same source, the mortality for age between 15 to 59 years, was around 1,332, 000 and for above 60 years of age, it was around 5,825, 000.

Key players in the market are focused on research and development in order to develop novel products to address the critical unmet needs of patients. For instance, in November 2018, Meridian Bioscience Inc. received approval from Food and Drug Administration (FDA) for Alethia CMV Assay Test System, which is used in detection of cytomegalovirus in newborn babies under age of 21 days by using saliva swab.

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Moreover, increase in geriatric population is expected to rise incidences of chronic diseases, which in turn is expected to boost the market growth. For instance, according to the Centers for Disease Control and Prevention (CDC), in May 2016, around 19% of the population in the U.S. is projected to fall in the geriatric category by 2030. Moreover, in the U.S., around 40 million individuals age above 65 years are affected by cardio vascular diseases.

The government initiatives for free diagnostic test is expected to boost the market growth. For instance, in union budget 2014 -15, the Government of India announced free drug service and free diagnostic test initiative under the National Health Mission (NHM). In July 2015, the Ministry of Health and Family Welfare (MoHFW) formulated guidelines and shared it to states and union territories.

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Major players operating in the global swab market include Puritan Medical Products, Copan Diagnostics, Inc., Sarstedt AG & Co. KG, FI Medical MWE, Cleancross Co.,LTD., AdvaCare Systems, GPC Medical Ltd., Elmex Controls Pvt Ltd., and Citotest Labware Manufacturing Co., Ltd.

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