Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Specimen Collection Cards Market Size, Share & Trends Analysis, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
This market analysis report on the global specimen collection cards industry projects a substantial growth trajectory, fueled by the increasing focus on non-invasive diagnostic techniques, bespoke healthcare approaches, and the integration of these cards into personalized medicine initiatives. The forecast period of 2023-2030 is set to see the market size burgeon to an estimated USD 621.29 million, with a Compound Annual Growth Rate (CAGR) of 4.9%.
The demand for specimen collection cards is underpinned by the adoption of non-invasive medical protocols, which require less intrusive methods for sample collection, including blood, saliva, and other bodily fluids. As governments worldwide adopt favorable policies for newborn screening and bolster investments in healthcare research and development, this market segment is expected to benefit substantially.
Market Segmentation Insights
- By application, the newborn screening field is anticipated to maintain its dominant market share, supported by proliferating government initiatives dedicated to infant health.
- In terms of product types, the Whatman 903 product line is heralded for its extensive application across governmental and research endeavors, further consolidating its market prominence.
- Advancements in materials, such as cotton & cellulose, are facilitating storage and stability of collected samples, subsequently enhancing the adoption rate of specimen collection cards formulated from these substances.
Distribution Channels and Regional Performance
The accessibility of specimen collection cards through traditional offline channels continues to account for a significant portion of the market, but the sector is witnessing a swift shift towards online platforms. Improvements in digital infrastructure are anticipated to catalyze the online segment's growth over the coming years, thereby broadening global accessibility and convenience.
In terms of regional demand, North America is at the forefront, owing to the domicile of predominant market players and robust governmental backing. Hospitals and clinics, as principal end-users, further amplify the region's market share, reinforcing North America's leadership in the specimen collection cards sphere.
Impact of Technological Advancements and Personalized Healthcare
Technological strides in healthcare have paved the way for more targeted and individualized treatment approaches. Specimen collection cards are integral to this paradigm, simplifying the processes of genetic profiling and monitoring, and playing a crucial role in the burgeoning field of personalized medicine. Patients' desire to engage proactively with their health regimens is further stimulating market expansion.
Key Market Players and Future Outlook
Industry stakeholders are strategically investing in research and development activities to refine specimen collection card technologies. Recent investments and funding in this sector underscore the market's potential and the confidence in its continued growth trajectory. With a solid compound annual growth rate and a thriving ecosystem of support, the specimen collection cards industry is well-positioned for significant expansion through 2030.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $424.02 million |
| Forecasted Market Value (USD) by 2030 | $621.29 million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Companies Mentioned
- QIAGEN
- PerkinElmer, Inc.
- DBS System SA
- Danaher Corporation
- Eastern Business Forms, Inc.
- Ahlstrom
- ARCHIMED Life Science GmbH
- GenTegra LLC
- FortiusBio
- CENTOGENE N.V.
For more information about this report visit https://www.researchandmarkets.com/r/8m6gxf
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