The global swab market is growing mainly due to the rising cases of surgery. According to a recent study report published by the Market Research Future, The global Swab market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
Swabs are medicated absorbent pads or materials, which are used as a part of surgery and medicine, pre-injection swabs, wound cleansers, or in a first aid kit. A swab consists of an absorbent material, which actually imparts the medical properties to the swab. These are pertained with antiseptics such as chlorhexidine, cetrimide or iodine or disinfectants such as alcohol. The antiseptics swabs that have active ingredients and show targeted and specific actions come under the medical products. On the other hand, alcohol swabs do not have active ingredient, thus, they do not show targeted action. According to the healthcare cost and utilization project report of the U.S. published in 2017, over 22 million surgeries were performed in 2014. Over 50% of these surgeries occurred in a hospital inpatient setting, which added a boost to the market growth. Furthermore, according to WHO report on global disease burden, by 2020 chronic diseases will account for almost three quarters of all deaths worldwide and 71% deaths will be on account on Ischaemic Heart Disease (IHD).
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Notably, rising number of surgical procedures is the key factor driving the swab market. With the rising burden of chronic diseases, need of surgical procedures has also been escalating. As per the 2015 statistics suggested by Eurostat, cataract surgery, and colonoscopy were the two most common surgical procedures performed in European region. It is observed that in the year 2015, cataract surgery was performed one thousand times per 100 000 inhabitants specifically in Germany, Sweden, the Czech Republic, Luxembourg, Finland, Malta, Estonia, Austria, Portugal and France. Other common procedures include bronchoscopies, and transluminal coronary angioplasties. Road accidents have also found to be responsible for rising surgical procedures, occurrence of wounds due to injuries. For instance, according to a study published in the Journal of Injury and Violence Research in 2017, it is found that low and middle-income countries bear the major burden of road traffic incidents worldwide.
Other factors such as, favourable reimbursement scenario for a number of surgical procedures, huge funding for research & development, technological advancements, and rising approval from regulatory bodies are also fuelling the market growth. According to the American Medical Association, Medicare has made various significant amendments in Ambulatory Surgery Center payment system (ASC). It is observed that for incision and drainage postoperative wound infection Medicare was providing reimbursement of USD 790.85 which is now exceeded to USD 1,030.52 in ASC. Whereas hospital outpatient payment has been exceeded to USD 2,148.00 from USD 1,414.28 this year.
Despite these drivers, lack of awareness, and safety concerns are expected to decline the Swab market growth.
Global Swab Market – Competitive Analysis
Puritan Medical Products., Sarstedt, MWE, SARSTEDT AG & Co, Lab M Limited., Clean Cross Co.,LTD., GPC medical ltd., Citotest Labware Manufacturing Co., Ltd., Q-TIPS, and ELMEX are some of the prominent players at the forefront of competition in the Swab market and are profiled in MRFR Analysis.
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he global swab market is currently dominated by few players.
Puritan Medical Products is one of them by holding a strong share in the market. As of Jan 21, 2000, Puritan-Bennett Corp. was acquired by Airgas Inc. Product portfolio of company is categorized in six major categories i.e. Controlled Environments, Diagnostics + Specimen Collection, Environmental, Forensics + Genetics, Microbiology Media, and Medical. Swab is covered under Forensics + Genetics, which includes Puritan 5″ Sterile Large Round Foam Swab w/Polypropylene Handle, PurFlock Ultra 6″ Sterile DNA-Free Standard Flock Swab w/Plastic Handle & Tube, HydraFlock 6″ Sterile Large Flock Swab w/Polystyrene Handle, 80mm Breakpoint, Puritan 6″ Sterile Standard Cotton Swab w/Wooden Handle, Fab-Swab 5″ Sterile DNA Controlled Mini-tip Cotton Swab w/Wood Handle & Tube, and many others.
Sarstedt, Inc. is also one of the leading player in Swab market. The company develops, manufactures, and sells equipment and consumables in the medicine and research field. Product portfolio of company includes diagnostic products, laboratory products.
According to the healthcare cost and utilization project report of the U.S. published in 2017, over 22 million surgeries were performed in 2014. Over 50% of these surgeries occurred in a hospital inpatient setting, which added a boost to the market growth. Furthermore, according to WHO report on global disease burden, by 2020 chronic diseases will account for almost three quarters of all deaths worldwide and 71% deaths will be on account on Ischaemic Heart Disease (IHD). According to WHO report of 2015, the geriatric population will reach to 1.6 billion by 2025-2050, which in turn will increase the demand for the swab.
Increasing global disease burden followed by increasing number of surgeries, rising geriatric population, and increasing per capita expenditure in healthcare will drive the growth of the market. However, factors such as lack of awareness, uneven distribution of medical services, and low healthcare expenditures in developing countries may hamper the market growth over the assessment period.
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The major factor that drives the global swab market is the increasing prevalence of chronic diseases, which is followed various types of therapeutic surgeries. According to healthcare cost and utilization project report of 2017 in the U.S., about 22 million surgeries were performed in the year 2014. A majority of these surgeries were performed in a hospital based setting, According to the WHO, by 2020 three quarters of the total deaths will be accounted on the cause of chronic diseases. Moreover, on the basis of 2015 report of WHO, it is estimated that the geriatric population will reach 1.6 billion by 2050. All these factors will fuel the market.
Factors such as rising geriatric population, increasing number of surgeries, and increasing per capita expenditure in healthcare will drive the market. However, factors such as lack of awareness and uneven distribution of the medical services will restrain the market.
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