[197+ Pages Report] The latest finding for the “Sterile Swabs Market” has been encompassed in the latest study published on facts and factors. We estimate that the global sterile swabs market will grow at a steady CAGR growth of 6.7% and will project a value of USD 4.1 Billion in the year 2026 from a previous value of USD 2.56 Billion in the year 2020.
Global Sterile Swabs Market: Overview
Sterile swabs are a medical accessory that is present in the form of a small stick with sterile cotton present at the end. Its most common application is absorption of bodily fluids during surgical procedures, collect specimens, or application of medical substances while cleaning a wound. Sterile swabs help in maintaining minimum contact with the patient while giving the patient access to superior medical care. Furthermore, the latest iteration of sterile swabs has a re-sealable sterile container that maintains the integrity and purity of the sample collected during travel conditions.
Global Sterile Swabs Market: Growth Factors
The market of sterile swabs has gained significant traction over the last year owing to the advent of the global pandemic which has added a large chunk of market value to the latter. The pandemic has led to an increase in volume of sales of sterile swabs over the forecast alongside surgical masks and other diagnostics products. Additionally, an increase in sales has led to better production techniques and improvements in the quality and functionality of sterile swabs which proportionally leads to a further increase in sales.
Rise in infectious diseases among the rising geriatric population is a major driving factor for the growth of the sterile swabs market during the forecast. Rise of rapid testing services due to an increase in COVID-19 cases and other conjoining diseases will further open new opportunities for the sterile swab market to expand during the forecast timeframe. Government bodies across the world focusing a low portion of their GDP on healthcare expenditure can hamper the growth of the sterile swab market during the forecast to a certain extent.
Global Sterile Swabs Market: Segmentation
The global sterile swab market can be segmented on the basis of type, application, end-users, and regions.
On the basis of type, the global sterile swab market can be divided on the basis of cotton-tipped swab, foam tipped swab, non-woven swab, and others. The cotton tipped swab is expected to witness the largest market share during the forecast period due to contributing factors such as user-friendly functionality and easy disposable options. Foam tipped swabs and non-woven swabs will also post significant market share during the forecast due to similar factors. On the basis of application, the global sterile swabs market can be bifurcated into specimen collection, disinfection, and others. The segment of specimen collection will recoup the largest market share during the advent of the forecast owing to a rise of rapid testing protocols for the detection of COVID-19 cases and other similar diseases. However, the segment of disinfection is projected to grow with the fastest growing CAGR owing to the rise of surgeries in hospitals and other similar medical facilities. On the basis of end-users, the global sterile swabs market can be broken down into hospital & clinics, laboratories & diagnostics centers, and research institutes. The hospitals & clinics segment will account for the larger market share during the forecast period due to increase of medical requirements arising from COVID-19 complications and other range of infectious disorders.
Global Sterile Swabs Market: Regional Analysis
North America is expected to witness the largest market share during the forecast period due to a number of contributing factors such as rising prevalence of infectious diseases in the region. North America recorded the highest number of COVID cases at the peak of its infancy which ultimately led to a surge of diagnostic kits and sterile swabs proportionately. Other factors for the massive market footprint in the region can be credited to rise in consumer awareness about infectious diseases and increased government support in the form of monetary measures. On the other hand, Asia-Pacific is expected to occupy a significant portion of the market during the forecast due to hugely populous countries such as China and India alongside the presence of key players in the region.
Global Sterile Swabs Market: Competitive Players
The key participants in the global sterile swabs market are Puritan Medical Products, BD, 3M, , FL MEDICAL srl, DLS Medical, Dynarex Corporation, Medtronic, Advacare Pharma, Copan Italia S.p.A., Lynn Medical, Super Brush LLC, Biosigma S.p.A, and Medical Wire and Equipment Co Ltd (MWE), among others.
Global Sterile Swabs Market: By Type Segment Analysis
Global Sterile Swabs Market: By Application Segment Analysis
Global Sterile Swabs Market: By End-Users Segment Analysis
Global Sterile Swabs Market: By Regional Segment Analysis
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