Market Research Report
Infection Surveillance Solutions Market, By Products and Services, by Type, and End-Use, and By Geography - Analysis, Share, Trends, Size, & Forecast From 2020 - 2026
|Published by||AnalystView Market Insights||Product code||941399|
|Published||Content info||177 Pages
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|Infection Surveillance Solutions Market, By Products and Services, by Type, and End-Use, and By Geography - Analysis, Share, Trends, Size, & Forecast From 2020 - 2026|
|Published: June 1, 2020||Content info: 177 Pages||
Infection Surveillance Solutions market was valued at USD 455.7 million by 2019, growing with 16.8% CAGR during the forecast period, 2020-2026
A surge in the prevalence of healthcare-associated infections (HAIs) and an increase in the number of surgeries are the major factors driving the growth of the global market for infection surveillance solutions. According to CDC (Cetnters for Disease Control and Prevention), it is estimated that due to the drug-resistant bacteria around 2.0 million people fall sick and it causes more than 23,000 deaths every year in the U.S alone. In addition, an increase in global healthcare expenditure and the introduction of government rules for the prevention of HAIs are other factors boosting the market growth.
Conversely, a dearth of proper knowledge, high costs associated with the software, and the unwillingness of medical professionals to the advanced healthcare aids are predicted to hamper the market growth during the forecast period. Furthermore, the application of electronic medical records coupled with the technological advancements in the IT sector for developing fully automated diagnostic surveillance solution systems is likely to create lucrative opportunities in the global market during the forecast period.
The software segment is anticipated to hold the largest market share in the global infection surveillance solutions market during the forecast period owing to the growing adoption of software packages mainly in healthcare facilities. The web-based sub-segment of software is projected to grow at the fastest pace in the projected timeframe. This rapid growth of the sub-segment is majorly owing to its benefits over on-premise software such as real-time analysis, rapid return on investment, and availability in diverse configurations.
The urinary tract infections (UTI) subjugated the market in 2019 and it is predicted to maintain its dominance during the forecast period. According to womenshealth.gov, there is evidence that compared to the men, women are 30% more vulnerable to UTI. Additionally, as per the statistics provided by the CDC, about 75.0% of UTIs acquired in hospitals are owing to protracted use of urinary catheters.
The hospitals segment accounted for the largest market share in terms of revenue in 2019 and is estimated to lead the global market for infection surveillance solutions during the forecast period. This is primarily owing to the ability of hospitals to better manage the treatment of HAIs, as more patients can be observed within the specified time due to a surge in the number of surgeries. About 45% of the hospitals all across the globe use electronic surveillance systems and this percentage is estimated to increase in the near future owing to the rising need for quicker software tools for disease patterns analysis.
Presently, the North America region is projected to register the highest market share in the overall market by 2030 followed by Europe. The growing incidence of HAIs and robust government initiatives in the U.S. and Canada are expected to propel regional market growth.
On the other hand, the Asia Pacific market for infection surveillance solutions is anticipated to witness substantial growth during the period of forecast. This is majorly attributed to increasing medical tourism and improving healthcare infrastructure. Conversely, lack of awareness related to the availability and high costs associated with advanced systems are some of the factors stimulating the growth of the Asia Pacific region.
Key players of the market include:
The market size and forecast for each segment and sub-segments has been considered as below:
The scope of this report covers the market by its major segments, which include as follows:
TABLE Middle East and Africa Infection Surveillance Solutions market, by Product, 2015-2026 (USD Million)