IMARC Group has recently released a new research study “Medical Swabs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Medical Swabs Industry?
The global medical swabs market size reached US$ 2.92 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3.57 Billion by 2027, exhibiting a growth rate (CAGR) of 4.70% during 2022-2027.
What is a Medical Swab?
A medical swab represents a medicated absorbent stick, pad, or material that is utilized in the medical industry as a single-use device. It is generally manufactured by using premium pharmaceutical-grade materials, such as sterile cotton, polyester, rayon, foam, etc., that are further sterilized by either gamma irradiation or ethylene oxide gas before distribution. A medical swab is extensively utilized for surgical procedures, wound cleanliness, first aid, etc., as it contains absorbent compounds that exhibit medicinal properties. In line with this, it is ideal for transporting, culturing, and environmental sampling purposes in forensics and general medicine.Furthermore, a medical swab finds wide-ranging applications during preoperative cleaning and for isolating microorganisms in culture media, seeding plates, preparing smears, etc.
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What Are The Key Factors Driving In The Medical Swabs Market?
The introduction of rapid testing procedures in healthcare facilities, owing to the growing prevalence of hospital-acquired infections (HAIs) and surgeries, is primarily driving the medical swabs market. Additionally, the increasing number of research labs, diagnostic centers, POS centers, etc., across countries is further catalyzing the market growth. Besides this, continuous technological advancements, such as the development of automatic swabs, lollipop swabs, and self-administering swabs, promoting user-friendly usage, and the expanding medical industry are acting as significant growth-inducing factors.Moreover, extensive investments in R&D activities focusing on new product launches, including 3D-printed medical swabs, are also positively influencing the global market. Apart from this, easy availability of enhanced materials via offline and organized retail channels and the rising road accidents are anticipated to fuel the medical swabs market over the forecasted period.
Who Are The Key Players/Companies In The Global Medical Swabs Market?
3M Company, ABclonal Inc, Advin Health Care, Anhui Jiaxin Medical Products Co. Ltd., Becton Dickinson and Company, Copan Diagnostics Inc., Dynarex Corporation, F.L. Medical S.r.l., GPC Medical Ltd., Poly Medicure Ltd. and Puritan Medical Products.
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