According to the latest research, the demand for Sample Containers is anticipated to grow with a compelling growth rate of about 6.0% to 7% in between the coming assessment period of 2021-2031. Biological samples such as urine or sputum are stored or transported in sample containers.
The market is being driven by the expanding population in the healthcare industry, which is leading to an increase in the need for these containers. The market will be driven by government initiatives and expansion, as well as an increase in patient worries about their health.
In the forecast period, environmental restrictions governing the kind of material used and landfill concerns caused by paper and plastic hampered the growth of the market.
With growth in pharmaceutical research and development, the number of procedures and surgeries performed internationally, and the demand for testing services, the demand for sample containers has increased as well.
The market is driven by a variety of factors. One of these is the increasing population & related healthcare spending. As the population grows, so does the demand for additional healthcare facilities and better quality.
Given the fact that the global healthcare sector is undergoing a sea change as a result of different healthcare reforms, it is anticipated to meet the demands of a growing number of consumer-patients.
Governments in developing nations have adopted a variety of initiatives to guarantee that the healthcare industry keeps up with population growth. With the expansion in the number of healthcare institutions and clinics, the sample containers market is projected to develop at a significant pace.
The expanding number of surgical operations, rising frequency of Hospital Acquired Infections (HAIs), rising prevalence of chronic illnesses leading to longer hospital stays, and the global effect of the COVID-19 epidemic are all contributing to market expansion. Chronic illnesses, such as diabetes and cardiovascular disease, are expected to become more common, which would boost market development.
According to the International Diabetes Federation, global diabetes prevalence is predicted to rise from 366.0 million in 2011 to 552.0 million by 2030. Because long-term diabetes causes diabetic foot ulcers, which lengthens hospital stays, the market is expected to develop at a healthy rate throughout the projected period.
The market is also expected to expand given the rising elderly population throughout the world. The worldwide elderly population, for example, is expected to grow from 840 million in 2014 to 2.0 billion by 2050, according to the World Health Organization (WHO).
Because the senior population is prone to a variety of illnesses, the market is projected to develop rapidly throughout the forecast period. The current COVID-19 outbreak is expected to have a substantial impact on the collecting cup market.
Currently, North America leads the global specimen containers market, owing to the high quality of healthcare services. The presence of numerous pharmaceutical and biopharmaceutical firms, high investments and growing focus on the biosimilars and biologics segment, and high R&D allocation account for North America's supremacy in this industry.
In terms of nations' yearly healthcare expenditures, the North American region is followed by Western Europe. The United States spends about 17% of its total GDP on high-quality healthcare.
The expansion of the sample containers market in North America is being fueled by an increase in the incidence of chronic illnesses, an increase in the number of IVD tests performed throughout the world, sufficient reimbursement regulations, and an improved diagnostic seeking rate in the area.
Medical laboratory services are expected to grow quickly in the Asia-Pacific region in the next years, driving up demand for sample containers. Growing public awareness of medical testing services, government support to improve the healthcare sector, and the introduction of new and improved testing procedures by major market participants all contribute to this upward trend.
Developing countries in the Asia Pacific, such as India, have raised their healthcare spending year after year. Significant expenditures in rural healthcare will be made in the region over the next several years, with an emphasis on providing quality healthcare to under-served population groups, which help boost demand for sample containers.
Some of the leading manufacturers and suppliers include
Market players are undertaking various strategic initiatives such as the launch of new products & services, partnerships, collaborations, mergers and acquisitions, and geographic expansion, aiming to strengthen their product portfolio and provide a competitive advantage.
For example, in June 2021, Avantor acquired privately held Ritter GmbH and its affiliates for a purchase price of about $1.05 billion. Ritter is based in Schwabmünchen, Germany, and produces high-quality robotic and liquid handling consumables for a wide range of molecular screening and diagnostic applications.
The Sample Containers report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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