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Forensic Swab Industry Research Report: Information by Type (Foam, Flocked and Cotton), Type of Swab Shaft (Wood-stick Shaft and Polystyrene Shaft), End User (Forensic Science Laboratories and Hospitals) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2023
As per the latest published report by Market Research Future (MRFR), the global Forensic Swab Market is expected to grow at a decent pace in the forthcoming years of the forecast period. The Forensic Swab Industry is expected to attain revenue accruing to USD 49.09 million with a CAGR of 5.8% during the forecast period between 2018 and 2023.
The usage of swabs in the forensic industry plays a critical role in identifying and deciphering various genetic samples. Swabs are considered as one of the most important tools for the collection of laboratory samples. The growing adoption of Deoxyribonucleic acid (DNA) forensics and the proliferating usage of laboratory services across hospitals as well as independent agencies is anticipated to steer the forensic swab market towards growth during the review period. Also, the global market for forensic swabs is also forecasted to be accelerated by the favorable support from the government and the rising levels of demand in the forthcoming years. Due to presence of various notable and prominent players, the market is expected to garner notable development in the coming years.
Forensic Swab Market Competitive Landscape
The global forensic swab market hosts a number of key and prominent players who are modifying the competitive landscape in a positive manner. This includes names such as Copan Italia S.p.A., Merck KGaA, Dickinson and Company, SARSTEDT AG & Co. KG, Puritan Medical Products, Thermo Fisher Scientific Inc., MWE, Becton, Sirchie, Luna, and MEDTECH Forensics.
Forensic Swab Market Segmentation
The global forensic swab market segmentation is based in terms of type, end users, and type of swap shafts.
By type, the market comprises of foam, flocked, and cotton tips. As per the last market study in 2017, the foam segment spearheaded with the maximum share. The cotton swabs segment is expected to grow with the highest growth rate during the forecast period.
By types of swab shaft, the market includes wood stick shaft, polystyrene shaft, and others. As per the last conducted study of the market, the polystyrene shaft segment held the top position in the global standings in this category. The segment is also expected to garner the highest CAGR during the assessment period.
By end-users, the market segments into hospitals, forensic science laboratories, and others. The forensic science laboratories segment held the leading position in this market category as per the last study. The segment is further expected to continue its leading position in the forthcoming years of the forecast period.
Forensic Swab Market Regional Analysis
The global forensic swab market is regionally segmented into regions like the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas hold the dominant share and shoulders a massive portion of the global market. The Americas hold the largest share due to factors like growing crime cases, increasing number of forensic labs, and various samplings of blood. The region is expected to hold onto its dominant position and lead the market standings in the forthcoming years. Additionally, the expanding number of forensic labs and a rising number of microbiological tests and hospitals also help drive the market in this region.
The European region hold the second largest share in the market as per the last conducted study in 2017. The region is poised to grow in the forthcoming years due to growth in the number of hospitals, research labs, and the surging number of accident cases.
The Asia Pacific region is anticipated to grow at an annual rate of 6.1% during the period between 2017 and 2023. The growth in this region can be attributed to the growing commonness of numerous diseases, an expanding number of forensic labs, and the imperative need for blood sampling. Lastly, the Middle East and Africa region is anticipated to witness slow growth and development due to limited exposure to forensic labs and lack of awareness concerning forensic swabs.
Ella Ava is a financial expert and a renowned blogger. She has more than 5 years of experience in writing as well as in working for various loan companies. Currently, she is working at Finance.