Molecular Transport Medium Market Size & Share, by Type (Viral Transportation Medium, Virus Swabs); Application (Diagnostic Laboratories, Microbiology Laboratories, Hospitals & Clinics); Indication (Mumps Virus, Influenza, Rhinovirus, Adenovirus, COVID-19, Other) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4251
  • Published Date: Feb 20, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Molecular Transport Medium Market size is estimated to surpass USD 2 Billion by the end of 2035, growing at a CAGR of 1% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of molecular transport medium was over USD 1 Billion.The growth of the market can be attributed to the rising number of experiments at labs and research institutions. The world was being prepared for pandemics for a prolonged time where countless clinical trials were being conducted to develop treatment and diagnosis solution for infectious diseases. The percentage of research and development expenditure (in % GDP) was 2.63% in 2020, up from 2.13% in 2017. Government of various nation are spending notable sum on the development of molecular transportation medium since it is the best medium to gather medical samples without endangering the lives of healthcare providers.

In addition to these, global molecular transport medium market trends such as, rowing adoption of transport mediums for infectious disorders and rising awareness regarding the early detection of viral diseases compelling governments to initiate management measures to prevent outbreaks of these infections are further expected to influence the market growth positively over the forecast period. The U.S. funding for global health security for the fiscal year 2021 was estimated to reach approximately USD 10 billion up from around USD 1 billion in 2001-11. Also, additional funding was provided for the emergency outbreaks of Ebola and the Zika virus. Hence, all these factors are estimated to propel the market growth over the forecast period.


Molecular Transport Medium Market
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Molecular Transport Medium Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~1%

Base Year Market Size (2022)

~ USD 1 Billion

Forecast Year Market Size (2035)

~ USD 2 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Molecular Transport Medium Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Rise in the Number of Infectious Diseases Worldwide - According to WHO, the number of infectious and parasitic diseases touched 7.2 million in 2018 globally. Furthermore, in 2019, the number of cases of various infectious disease was estimated to rise globally such as, tuberculosis (~8000), meningococcal disease (~400), salmonella (~55,000), and Lyme disease (~35,000).Molecular transport medium is most suitable for the diagnosis of infectious diseases since it prevents the spreading of infection among the healthcare staff. MTM are known to preserve the sample to its initial state by keeping them close as mush as required. This process becomes helpful in preventing the spread of viruses in the environment for days and weeks. Hence, this factor is projected to hike the market growth over the forecast period.
  • Increasing Number of Diagnostic Tests - More than 3 billion Vitro diagnostic tests are conducted every year (both FDA-reviewed and lab-developed tests) across the globe.
  • Rise In Experiments in Laboratories and Research Institutes - According to the data by the World Bank, there were 1597 researchers involved in research and development activities per 1,000,000 people, as of 2018, up from 1412 per million in 2015.
  • Rising Awareness for the Health of Co-Workers in a Laboratory - Total fatal occupational injuries in healthcare practitioners and technical occupations decreased from 60 in 2016 to 51 in 2020, and healthcare support occupations raised from 30 in 2016 to 44 in 2020. Molecular transport medium is the best solution to prevent the spread of infection in co-workers and owing to this, healthcare providers highly prefer MTMs.
  • Growing Expenditure for R&D Activities – based on the data released by the World Bank, the health expenditure for research and development was stated to reach 2.63% up from 2.2% in 2028. Research and development of molecular transport medium is at its peak and growing health expenditure has been proved to be very beneficial for it.

Challenges

  • Unpredictable Nature of Seasonal Infections - There are multiple infectious diseases that spread in global population and their nature of spreading and affecting the can be quite unpredictable. This condition makes the molecular transport medium as ordinary as other mediums are. Hence, this factor can limit the market growth over the forecast period.
  • High Risk of False Results by Molecular Medium
  • Uncertain Occurrence of Infections Leading to the Adoption of a Conservative Approach


Molecular Transport Medium Segmentation

Type (Viral Transportation Medium, Virus Swabs)

The global molecular transport medium market is segmented and analyzed for demand and supply by type into viral transportation medium and virus swabs. Between these two types, the viral transportation medium segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the sudden break out of the COVID-19 pandemic triggering the demand for transport medium products and kits worldwide. According to the Journal of Clinical Microbiology between 3000 to 5000 viral transport medium tubes are produced each day to support SARS-CoV-2 PCR testing globally. The innovation of kits containing vials, double-ended flocked swabs, antibiotics, and other antibacterial and antifungal items that prevent contamination is estimated to drive the segment growth.

Application (Diagnostic Laboratories, Microbiology Laboratories, Hospitals & Clinics)

The global molecular transport medium market is also segmented and analyzed for demand and supply by application into diagnostic laboratories, microbiology laboratories, hospitals & clinics, and others. Amongst these three segments, the diagnostic laboratories segment is expected to garner a significant share. The growth of this segment can be attributed to the surge in clinical trials and diagnostic testes backed by the rising awareness of early diagnosis in the global population. The higher prevalence of severe infectious diseases across the globe has spurred the demand for molecular transport medium worldwide. It was observed that in the United States, over 6 billion diagnostic tests are performed annually.

Our in-depth analysis of the global market includes the following segments:

             By Type

  • Viral Transportation Medium
  • Virus Swabs

            By Application

  • Diagnostic Laboratories
  • Microbiology Laboratories
  • Hospitals & Clinics
  • Others

             By Indication

  • Mumps Virus
  • Influenza
  • Rhinovirus
  • Adenovirus
  • COVID-19
  • Other

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Molecular Transport Medium Industry - Regional Synopsis

North American Market Forecast

The North American molecular transport medium market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the improvement in the availability of new diagnostic test kits and drugs in pharmacies and retail shops as OTC drugs. As of December 2021, approximately 300 million at-home rapid test kits were available in the market in the U.S. which reached nearly 24 million in August 2021. Additionally, the rise in the number of infections, parasitic diseases coupled with increase in the manufacturing capacity of vaccines and drugs is estimated to boost the regional market growth during the forecast period. For instance, COVID-19 vaccine manufacturing was estimated to hit around 7 million doses in 2021 with the production rate of around 1 billion doses per month by vaccine manufacturers across the world. The recall was done to reduce the false positive test results, unnecessary quarantine, and treatment with antivirals.

APAC Market Statistics

Furthermore, the market in the Asia Pacific is also estimated to witness noteworthy growth opportunity over the forecast period. Rising cases of infectious diseases such as, COVID-19, Lyme Disease, TB, and others backed by the boom in the population along with significant number of geriatrics in the region are estimated to be major factors to expand the market size over the forecast period. In Asia Pacific, preventable infections are considered to be one of the major causes of death that is anticipated to boost the demand for molecular transport medium for collecting samples. Therefore, all these factors are anticipated to boost the market growth over the forecast period.

Research Nester
Molecular Transport Medium Market Size
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Companies Dominating the Molecular Transport Medium Landscape

top-features-companies
    • Thermo Fisher Scientific Inc
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Becton, Dickinson and Company
    • Medical Wire & Equipment Ltd
    • Titan Biotech Ltd.
    • EKF Diagnostics Holdings plc
    • Trinity Biotech Plc.
    • Puritan Medical Products Company LLC
    • Longhorn Vaccines and Diagnostics, LLC
    • Mylab Discovery Solutions Pvt. Ltd.
    • 2B Scientific Limited

In-the-news

In The News

  • Thermo Fisher Scientific Inc is offering In Vitro Diagnostic Requirements (IVDR) versions to help molecular diagnostic manufacturers to adopt higher standards. The demand for IVDR is growing on account of growing awareness for quick clinically relevant Oncology biomarkers identification and in the diagnosis of multiple-infectious pathogens. It is going to be huge help for healthcare providers to make serious treatment decisions associated with infection diseases, cancer, and others.

  • Becton, Dickinson and Company to introduce a new high throughout molecular diagnostic combination test, BD MAX, for SARS-CoV-2 and Influenza A/B, the second test for BD COR have been CE marked to the IVD directive. In this test, a single nasopharyngeal swab sample are used to identify if the patients have flu, COVID-19, or RSV.


Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4251
  • Published Date: Feb 20, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rise in the number of infectious diseases worldwide and rising awareness for the health of co-workers in a laboratory are the major factors driving the market growth.

The market is anticipated to attain a CAGR of ~1% over the forecast period, i.e., 2023-2035.

Unpredictable nature of seasonal infections are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Becton, Dickinson and Company, Medical Wire & Equipment Ltd, Titan Biotech Ltd., EKF Diagnostics Holdings plc, Trinity Biotech Plc., Puritan Medical Products Company LLC, Longhorn Vaccines and Diagnostics, LLC, Mylab Discovery Solutions Pvt. Ltd., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, application, indication, and by region.

The viral transportation medium segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Molecular Transport Medium Market Report Scope
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