SEATTLE, Feb. 28, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global swab market was valued at US$ 578.6 million in 2017, and is projected to exhibit a CAGR of 6.6% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Swab Market:
Increasing demand for surgical procedures due to prevalence of chronic diseases and other diseases, increasing road accidents and falls, and increasing awareness regarding vaccination are propelling demand for using swabs at pre injection site.
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Market players are actively investing in research for developing novel materials for cleansing and disinfection of wounds. Moreover, the players are committed to offer new and improved products in order to address the critical unmet needs of patients. For instance, in August, 2018, Dräger received approval from federal government of Canada for its Dräger DrugTest 5000, which is first approved device used in roadside saliva testing of 7 types of commonly abused drugs.
Moreover, the non-government organization funding for research and development of various diagnostic tools and test is expected to drive the market growth. For instance, in 2016, Bill & Melinda Gates Foundation announced grant of US$ 1.02 million to the University of Washington, School of Public Health (UW). The partnership of UW and the University of Cape Town plan for a two-year study to test a lower-cost, simpler and safer method in diagnosing tuberculosis (TB) by using oral swabs.
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https://www.coherentmarketinsights.com/market-insight/swab-market-2513
Key Market Takeaways:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.