Demand for Hospital Acquired Infections (HAI) Diagnostics and Impact of COVID-19
Posted by mrudulaGVR on May 4th, 2020
Global hospital acquired infections diagnostics market is expected to reach USD 11.6 billion by 2022, according to a new report by Grand View Research, Inc. A surge in hospital traffic due to admissions for Covid-19 cases has increased the burden of hospital-acquired infections. The overpopulation of major healthcare infrastructure due to the Covid-19 pandemic is a key aspect taken into account while updating the market model for this report.
Some major players actively involved in the industry are bioMérieux, Abbott Laboratories, Roche AG, and Siemens Healthcare among others. In an attempt to ensure sustainability and register growth, the companies adopted several strategies such as partnerships, joint ventures, new product developments, collaborations, and acquisitions.
The global hospital acquired infections diagnostics market is projected to grow at a healthy CAGR during the period of 2015 to 2022. Factors attributing to the growth of the market are increase in the number of drug-resistant pathogens such as MRSA and C. difficile, advancing age of geriatric population, and development of technologically advanced products that offer accurate and reliable results with low turnaround time.
Another factor contributing to industry growth is the increasing demand of HAI diagnostics from middle and low income countries, further driving demand for HAI diagnostic market. Increasing awareness among healthcare workers and proposed government initiatives are further supporting industry growth. However, decline in the prevalence rate of nosocomial infections in the developed countries is likely to hinder industry growth.
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The HAI diagnostics market is categorized on the basis of infection type and test type. On the basis of infection type, the market is segmented into Urinary Tract Infection (UTI), Blood Stream Infection (BSI), Surgical Site Infection (SSI), pneumonia, and others. As of 2015, the urinary tract infection segment was estimated to account for the largest share, whereas the pneumonia HAI diagnostics is projected to grow at the highest CAGR during the period of 2015 to 2022.The HAI diagnostics industry is further segmented into molecular tests and other in-vitro tests. Though the molecular diagnostics segment is estimated to constitute a low share, it is anticipated to witness a lucrative growth in the next few years.
Further key findings from the study suggest:
The global Hospital Acquired Infection (HAI) diagnostic market size was estimated to be USD 3.6 billion in 2015. HAIs have been of increasing concern in healthcare facilities across the globe. According to the WHO, among hundred patients in hospitals, ten patients are estimated to suffer from HAIs in developing countries, and seven in developed countries.
In developed countries, after cancer and cardiovascular diseases, HAI is considered to be the third leading reason for mortality. In the U.S. and European regions, six million patients are affected every year, resulting in around150,000 deaths.
The industry is anticipated to witness a significant growth in the next few years. One of the key factors driving industry growth is the rising geriatric population base. Advancing age of the geriatric population makes them more vulnerable and prone to diseases, thus increasing the demand for diagnosis.
Other aspects supporting industry growth are growing demand of HAI diagnostics from middle and low-income countries such as India and Brazil, development of technologically advanced diagnostic products, rising awareness among healthcare workers, and initiatives taken by governments to counter the prevalence of HAIs.
The HAI diagnostic market is broadly classified into Blood Stream Infections (BSI), Urinary Tract Infections (UTI), Surgical Site Infections (SSI), pneumonia/lower respiratory infections, and others such as cardiovascular and gastro intestinal infections. The UTI diagnostics market is expected to lead the market with the largest share in the year 2015, whereas the industry for diagnosis of pneumonia as a nosocomial infection is anticipated to witness the highest growth in the industry during the forecast period.
Grand View Research has segmented the global hospital acquired infections diagnostic market on the basis of infection type, test type:
Hospital Acquired Infections Diagnostic Infection Type Outlook (Revenue, USD Million, 2012 - 2022)
Hospital Acquired Infections Diagnostic Test Type Outlook (Revenue, USD Million, 2012 - 2022)
On the basis of types of tests, the industry is segmented into molecular diagnostics and other IVD tests including urinalysis and blood tests. The molecular diagnostics segment is projected to grow at the highest CAGR during the period of 2015 to 2022. Rapid results with less turnaround time, high sensitivity, and accuracy are some of the factors attributing to industry growth in the near future.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.Also See: Hospital Acquired, Acquired Infections, Industry Growth, Hai Diagnostics, Market, Infections, Infection
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