By HospiMedica International staff writers Posted on 14 Sep 2020
The global Viral Transport Tube with Swab market (VTM) was valued at USD 0.9 billion in 2019 and is projected to expand at a CAGR of ~3% from 2020 to 2030 to reach USD 2.2 billion by 2030, driven by increased demand during the COVID-19 (coronavirus) pandemic.
Since research institutes and labs have intensified their experiments for developing COVID-19 vaccines, companies in the swab and VTM market have increased their production capacities to develop products useful for viral collection, maintenance, and culture. Rapid antigen testing and molecular assay experiments have fueled the demand for swab and VTM during the ongoing coronavirus crisis. Long-term freezers and direct fluorescent antibody (DVA) applications are creating incremental opportunities for companies in the swab and VTM market.
Companies in the swab and VTM market are innovating in kits containing vials, double-ended flocked swabs, antibiotics, and other items that inhibit bacterial or fungal contamination. They are focusing on improved formulation of Hanks solution to contain the reproduction of bacterial and fungal flora. Innovative VTM products are bolstering market growth. Manufacturers in the swab and VTM market are innovating in products that facilitate rapid antigen testing, viral culture, and molecular-based assay. They are adopting the vertically integrated approach to manufacture swab and VTM in order to gain complete control over the entire process.
