Molecular Transport Medium Market report delivers a detailed competitors’ analysis and a detailed overview of the global Molecular Transport Medium market in terms of market segmentation by type, application, indication, and by region.  

Growing Investment in Clinical Trials and Diagnostic Tests to Drive Growth of Global Molecular Transport Medium Market

The global molecular Transport Medium Market is estimated to grow majorly on account of the higher prevalence of infectious diseases worldwide backed by the rising cases of autoimmunity fueling the  fueling the demand for the early diagnosis to prevent severe stages of these diseases. Infectious diseases are the main application of molecular transport medium since it keeps the samples close for certain purposes that also prevent the spreading of virus. For instance, World Health Organization (WHO) released data showing that in 2018, nearly 7.2 million parasitic and infectious diseases were diagnosed worldwide. Hence, these factors are estimated to propel the market growth over the forecast period. Additionally, significant prevalence of infectious diseases has also spurred the demand for diagnostic tests which are led by molecular transport medium.

Molecular Transport Medium Market Statistics –

• USD 1 billion revenue in 2022
• The market size is projected to record a valuation of over USD 2 billion by 2035
• The Molecular Transport Medium industry is slated to observe 1% growth rate through 2023-2035

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For instance, it was observed that, over 3 billion In Vitro diagnostic tests are performed annually including lab-developed and FDA-approved tests. Multiple nations have been noticed to spend remarkable amount of money in research institutions and laboratories which is further expected to drive the market growth over the forecast period. Based on the data provided by the World Bank, around 1597 researchers were observed to performing research and development activities per 1,000,000 people in 2018. Additionally, growing awareness to protect co-workers from catching infectious diseases and surge in the global expenditure for R&D activities across the globe are also expected to enlarge the market size over the forecast period.

Some of the major growth factors and challenges that are associated with the growth of the global molecular transport medium market are:

Growth Drivers:

• Surge in the Funding for Health Security across the Globe
• Increasing Number of Labs and Research Institutions

Challenges:

Possibility of uncertainty in the nature of infectious diseases and dales results provided by the molecular transport medium are some of the major factors anticipated to hamper the growth of the global molecular transport medium market.

Major players include in the global Molecular Transport Medium Market:

• Thermo Fisher Scientific Inc
• 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

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By type, the global molecular transport medium market is segmented into viral transportation medium and virus swabs. The viral transportation medium segment is to garner a highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the market can be ascribed to the rapidly growing number of patients suffering from COVID-19 infections owing to unpredictable breach of this pandemic. The virus causing COVID-19 is highly infectious in nature and owing to which, the molecular transport medium becomes very beneficial to collect the samples of the infection without endangering the lives of doctors. For instance, the Journal of Clinical Microbiology stated that to facilitate the testing of SARS-CoV-2 PCR, nearly 3000 to 5000 transport medium tubes are manufactured every day across the globe. Hence, this factor is projected to hike the growth of the segment over the forecast period.

By region, the North America molecular transport medium market anticipated to generate the highest revenue by the end of 2035. This growth is anticipated by ongoing enhancement in new diagnostic test kits and drugs and their rising availability in retail shops as OTC drugs. For instance, in 2021, the number of at-home rapid test kits available in pharmacies in the United States was estimated to be around 300 million up from around 24 million in August 2021. Furthermore, the market in Asci Pacific region is also expected to hold the second largest share over the forecast period. Rising instances of infectious diseases in the region and rising number of geriatric populations are major factors expected to propel the growth of the regional market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global molecular transport medium market which includes company profiling of Thermo Fisher Scientific Inc, 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, and others.       

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