New York, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The global Molecular Transport Medium market size is projected to expand at ~ 1 % CAGR between 2023 and 2035. The market is expected to garner a revenue of USD 2 billion by the end of 2035, up from a revenue of ~USD 1 billion in the year 2022. The growing number of experiments in laboratories and research institutes is attributed to the growth of the market. The share of R&D spending as a percentage of GDP was 2.63% in 2020, compared to 2.13% in 2017. Molecular testing is now widely used owing to its improved performance and turnaround time compared to traditional microbiological testing. Most of the currently approved tests for COVID-19 (SARS-CoV-2 virus) and other infectious diseases are nucleic acid-based molecular assays that transport live pathogens for routine testing.
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Designed and optimized for molecular applications such as qPCR and next-generation sequencing, MTM (molecular transport medium) uses unique, patented technology to safely collect samples from patients with highly infectious diseases. First introduced in 2006 in preparation for a global pandemic, it has been used to test for many infectious diseases and pathogens with serious consequences, including influenza, RSV, tuberculosis, HIV, and coronaviruses.
Global Molecular Transport Medium Market: Key Takeaways
- Market in North America to propel highest growth
- The viral transportation medium segment to garner the highest growth
- Market in Asia Pacific to grow at a highest rate
Upsurge in the Number of Infectious Diseases such as Influenza across the Globe to Boost Market Growth
New infections begin with emergence and follow a path of local-level transmission, cross-border movement, and finally global spread. Global changes can have differential impacts on the risk of disease emergence, the dynamics of disease within local populations, and the global spread of disease among populations. First, given the characteristics of recent global changes that have altered the risk of spread of viral, fungal, bacterial, and apicomplexan (malaria) infections in the human population, each step is outlined, then within humans. Populations are seasonal. Transmission dynamics can be subject to global changes associated with both emerging and established pathogens. Finally, healthcare professionals examine the changing drivers of global epidemics, with a particular focus on travel, migration, and wildlife trade. All over the world, there is a significant prevalence of infectious diseases. Pets can carry parasites and pass them on to humans. Proper handwashing can significantly reduce the risk. According to the WHO, there were 7.2 million cases of infectious and parasitic diseases in 2018. Hence, this is estimated to be a major factor driving the growth of the global molecular transport medium market.
Global Molecular Transport Medium Market: Regional Overview
The global molecular transport medium market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Demand for Better Diagnostic Test Kits to Drive Market Growth in North America
The molecular transport medium market in the North American region is estimated to garner the largest revenue by the end of 2035. The regional growth can majorly be attributed to the need to improve the availability of new diagnostic test kits and medicines as over-the-counter (OTC) medicines in pharmacies and retail stores. As of December 2021, there were 300 million home rapid test kits on the market in the US, a 10-fold increase from 24 million in August of the same year. Diagnostic Kit refers to an in vitro diagnostic device that requires premarket regulatory approval from the FDA in the United States or another equivalent agency in any other market. Analytical and clinical validation of diagnostic kits is performed before the test system is placed on the market and, thus, before the test system can be used on patient samples in a clinical diagnostic or therapeutic context. Validity is the accuracy with which a diagnostic kit identifies, measures, or predicts the absence of a clinical condition or predisposition in a patient. The productivity of COVID-19 vaccine manufacturing has reached the 7.5 million dose mark, with 1.5 billion doses produced monthly by vaccine manufacturers worldwide. Ellume, which was issued as a COVID-19 emergency treatment drug on December 15, 2020, received FDA approval for an Emergency Use Authorization Amendment (EUA) on February 11, 2021. The recall was implemented to reduce false-positive test results, unnecessary quarantines, and antiviral treatment.
Elevating Aged Population to Propel Growth in the Asia Pacific Region
The molecular transport medium market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035. The market growth in this region is mainly owing to the steady increase in the elderly population across the region. Elderly people are more susceptible to infectious diseases, which require a molecular transport medium to treat them. The Asia-Pacific population is aging faster than anywhere else in the world. Sixty percent of the world's total elderly population, that is, 630 million people, reside in the Asia-Pacific region. The region's elderly population is expected to reach 1.3 billion by the year 2050. Moreover, the government's role in raising awareness for the use of molecular transport media is expected to spur molecular transport medium market growth in the region. Moreover, the increasing number of patients with infectious diseases and increased funding for medical infrastructure are expected to affect the growth of the market in the region.
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Global Molecular Transport Medium, Segmentation by Functions
- Viral Transportation Medium
- Virus Swabs
Amongst these two segments, the viral transportation medium segment is anticipated to hold the largest share over the forecast period. The growth of the segment can be accredited to the sudden emergence of the COVID-19 pandemic, which has increased the demand for transportation products and kits. According to the Journal of Clinical Microbiology, more than 3000-5000 bottles of viral transport media were manufactured each day to support SARS-CoV-2 PCR testing. Innovations in kits with vials, double-sided floss swabs, antibiotics, and other antibacterial and antifungal items to prevent contamination are estimated to drive the growth of this segment. Viral transport medium (VTM) is a solution used to store viral samples after collection so that they can be transported and analyzed in the laboratory later. Virus samples, especially RNA virus samples, tend to degrade unless stored in an ultra-low-temperature freezer or liquid nitrogen. However, such refrigerators are rarely available on site for their large size, weight, and, in the case of freezers, high energy consumption. Thus, VTM requires a chemical preservative that can be used at room temperature. Chemical ingredients may include saline, phosphate buffered saline (PBS), or fetal bovine serum (FBS). VTMs must be sterile to avoid sample contamination.
Global Molecular Transport Medium, Segmentation by Application
- Diagnostic Laboratories
- Microbiology Laboratories
- Hospitals and Clinics
- Others
Amongst these two segments, the hospitals and clinics segment is anticipated to hold a significant share over the forecast period. The growth of this segment is majorly driven by increasing cases of viral diseases worldwide and rising healthcare costs globally. For instance, according to the World Bank, global healthcare spending increased from 9.7% in 2018 to 9.83% in 2019. In addition, the increasing number of patients visiting hospitals for diagnosis and the subsequent availability of better reimbursement are several important factors. It is expected to further drive segment growth during the forecast period. Moreover, the existence of a huge patient pool requiring treatment for viral or infectious diseases is also estimated to be a major factor boosting the growth of this segment.
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Global Molecular Transport Medium, Segmentation by Indication
- Mumps Virus
- Influenza
- Rhinovirus
- Adenovirus
- COVID-19
- Others
Few of the well-known market leaders in the global molecular transport medium market that are profiled by Research Nester are Thermo Fisher ScientificHoldings, Inc., Becton, Dickinsonand Company, Medical Wire & Equipment, COPAN Diagnostics Inc, Titan Biotech, EKF Diagnostics Holdings plc, Trinity Biotech, Puritan Medical Products, Longhorn Vaccines&Diagnostics, Mylab Discovery SolutionsPvt. Ltd., 2BScientific Limited, and other key market players.
Recent Development in the Global Molecular Transport Medium Market
- Thermo Fisher Scientific offers versions with in vitro diagnostic requirements (IVDR) to enable molecular diagnostics manufacturers to adopt higher standards.
- Becton, Dickinson and Company (BD) introduced a novel high-throughput molecular diagnostic combination test for SARS-CoV-2 and influenza A/B.
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