February 18, 2021
According to the research report titled ‘Global Viral Transport Media Market Size study, by Application (Diagnosis of Certain Viral Infections, Preclinical Testing), by End-Use (Microbiology Laboratories, Diagnostic Laboratories, Hospitals & Clinics, Home Test, Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global viral transport media market is expected to record a robust CAGR during 2020-2027.
Global viral transport media market growth is primarily driven by growing pervasiveness of COVID-19. The coronavirus outbreak is positively impacting the industry valuation with an upsurge in the demand for viral transport media to get information and collection of samples of the novel virus.
As per WHO, as of 7 March 2020, 87,831 confirmed cases of coronavirus were recorded globally, with mortality numbers of 3,549. The number of confirmed cases further reached 7,941,791 with 434,796 deaths as of 16 June 2020. The World Health Organization also claimed that America has recorded the most COVID patients and deaths, with 2,079,592 confirmed cases and 115,484 deaths.
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For those unfamiliar, viral transport media (VTM) is a transport and collection system usually used for transporting, collecting, and freezing biological specimens containing viruses like mycoplasma, urea plasma organisms, chlamydia, or COVID-19 for a long time. They are generally used in containing throat swabs and nasal swabs to collect samples. This sample is then sent to clinical laboratories later in transport medium for identification and detection of any virus in human body.
Supportive government initiatives for ensuring availability of testing kits in developing & developed economies, along with introduction of a greater number of products by vendors are likely to augment viral transport media industry share. On the contrary, technical issues concerning the swabs collection is expected to hamper the industry remuneration over the analysis period.
Based on application spectrum, global viral transport media market is divided into preclinical testing, and diagnosis of certain viral infections. Speaking of end-use scope, the industry is bifurcated into home test, hospitals & clinics, diagnostic laboratories, microbiology laboratories, and others.
Considering the regional terrain, North America presently accounts for a significant portion of global viral transport media market share and is predicted to expand further over the forecast timespan, owing to mounting pervasiveness of infectious disease and increasing number of diagnostic tests.
Meanwhile, Asia Pacific viral transport media industry is slated to grow substantially through 2027, creditable to increasing healthcare expenditure, and surging demand for sample collection kits.
Leading organizations in global viral transport media market sphere are Titan Biotech Ltd., HiMedia Laboratories LLC, VIRCELL S.L., Medline Industries Inc., Formlabs, Hardy Diagnostics, Lucence Diagnostics Pte Ltd., Laboratory Corporation of America Holdings (LabCorp), Puritan Medical Products Co. LLC, BD, and Thermo Fisher Scientific Inc.