Rising Occurrence of Infectious Disease is Escalating the Growth of the Sample Collection market

The significant rise in sample collection is due to the ageing population, increasing disease burden, subsequent increase in surgeries, and rising per capita healthcare spending are some of the prominent reasons that are contributing to the growing demand of sample collection. Additionally, throughout the projection period, the sample collection market will have a lot of new growth opportunities due to technological advancements in blood collection methods and products as well as technological advancements for efficient and safer sample collecting.

In order to develop national HIV clinical and research guidelines, deliver epidemiology training, and support HIV & TB programmes, the CDC has begun collaborating with the South African government. All of these initiatives will have an effect on the world's sample collection technology, which would lead to the growth of Sample Collection Market.

According to Marketlook Consulting’s research report “Global Sample Collection Market Analysis, 2021”, the Global Sample Collection market is anticipated to grow at a CAGR of 9.8% during 2022-29 The market would reach USD 1,162.5 Mn by 2029.

Based on Applications, the diagnostics segment acquired an exorbitant market share in 2021 due to the rising incidence of chronic conditions like cancer, diabetes, and heart disease. Additionally, products for sample collection are mostly employed in diagnostics since blood samples are necessary to determine the cause of diseases caused by harmful bacteria or to spot anomalies in the levels of different blood components. The need for blood collection and sample processing has increased as the incidence of infectious diseases has increased. WHO estimates that 10 million individuals had tuberculosis in 2018 and 1.5 million died from the illness.

Based on End Users, hospitals acquired a remarkable market share in 2021 because they are the main locations for both disease diagnosis and treatment. It is projected that the global increase in chronic diseases and the rise in diagnostic & screening tests will favourably impact market growth.

“Global Sample Collection Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Sample Collection providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Dominated the Market

Based on Leading regions, North America dominated the global Sample Collection market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29. It is anticipated that the market in the region would expand quickly during the forecast period as a result of increased R&D and various government initiatives for the development of novel concepts. Moreover, extensive healthcare infrastructure, growing urban population and surging awareness among people and escalating expenditure on health and well-being products are projected to fuel the demand for Sample Collection in the forthcoming period as stated in the Marketlook Consulting research report “Global Sample Collection Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Sample Collection market are Lucence Health Inc., Hardy Diagnostics, Smiths Medical, BNTX Inc., Thermo Fisher Scientific, Inc., Puritan Medical Products, COPAN Diagnostics Inc., Preq Systems, Medline Industries, Inc.

Market Segmentation:

1. By Sample Type (Blood, Stool, Urine)
2. By Method (Manual, Automated)
3. By Applications (Diagnostics, Treatment)
4. By End Users (Hospitals, Diagnostics Centers, Blood Banks, Others)
5. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
6. By Company (Lucence Health Inc., Hardy Diagnostics, Smiths Medical, BNTX Inc., Thermo Fisher Scientific, Inc., Puritan Medical Products, COPAN Diagnostics Inc., Preq Systems, Medline Industries, Inc)

Key questions answered in the study:

1. What are the current and future trends of the sample collection industry?
2. How the industry has been evolving in terms of sample type, method, end-user and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the sample collection industry?
5. What is the customer orientation, purchase behavior, and expectations from the sample collection firms across various regions?