Molecular Transport Medium Market - Regional Analysis
North American Market Insights
North America industry is expected to dominate majority revenue share of 36% by 2035. The growth of the market can be attributed majorly to the improvement in the availability of new diagnostic test kits and drugs in pharmacies and retail shops as OTC drugs. As of December 2021, approximately 300 million at-home rapid test kits were available in the market in the U.S. which reached nearly 24 million in August 2021. Additionally, the rise in the number of infections, parasitic diseases coupled with increase in the manufacturing capacity of vaccines and drugs is estimated to boost the regional market growth during the forecast period. For instance, COVID-19 vaccine manufacturing was estimated to hit around 7 million doses in 2021 with the production rate of around 1 billion doses per month by vaccine manufacturers across the world. The recall was done to reduce the false positive test results, unnecessary quarantine, and treatment with antivirals.
APAC Market Insights
Furthermore, the market in the Asia Pacific is also estimated to witness noteworthy growth opportunity over the forecast period. Rising cases of infectious diseases such as, COVID-19, Lyme Disease, TB, and others backed by the boom in the population along with significant number of geriatrics in the region are estimated to be major factors to expand the market size over the forecast period. In Asia Pacific, preventable infections are considered to be one of the major causes of death that is anticipated to boost the demand for molecular transport medium for collecting samples. Therefore, all these factors are anticipated to boost the market growth over the forecast period.
