The low level of hygiene maintained by hospitals, poor infrastructure management, and poor sterilizing techniques used at healthcare institutions are resulting in a high number of hospital acquired infection cases.
Hospital Acquired Infection Treatment Market: Snapshot
The top most factor causing the growth of the hospital acquired infection market is the growing geriatric population across the globe. The geriatric population base is more prone to infections owing to their low physical immunity.
Infections, especially nosocomial ones are becoming increasingly common among the elderly.
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This environment bodes well for the hospital acquired infection market and thus, the market is flourishing.According to the expert panel of analysts at Transparency Market Research (TMR), the global hospital acquired infection market is expected to rise from US$28.99 bn in 2015 to US$36.61 bn by 2024.
The market is expected to display a modest CAGR of 2.7% between 2016 and 2024
Developing Nations in Asia Pacific to be Lucrative Markets for Hospital Acquired Infection Treatment Services
Owing to low funding from government and other bodies, hospitals in developing nations are victims to poor hygiene and mismanagement. Cases of hospital acquired infections are high in these countries and this is expected to boost the global market.
It is thus unsurprising that emerging economies in Asia Pacific are expanding in terms of fastest growth in the hospital acquired infection market. This has compelled several players operating in the hospital acquired infection market to shift their base and provide their services to these nations.
This trend is expected to result in the geographical expansion of players operating in the global hospital acquired infection market and also result in the growth of the market.
Urinary Tract Infections Segment to Lead During Forecast Period
On the basis of common infection type, the global hospital acquired infection treatment market can be segmented into hospital-acquired pneumonia, urinary tract infections, bloodstream infections, surgical site infections, and others. Of these, the urinary tract infections segment led in the market in 2015.
The urinary tract infections segment is also anticipated to expand at the fastest CAGR from 2016 to 2024 Top of Form
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By treatment, the market is segmented into antiviral, antibacterial, antifungal, and other treatments. Of these, the antibacterial drugs segment led in 2015.
The segment is also expected to witness the fastest growth during the period from2016 to 2024.
Growing Rate of Treatment Failure to Threaten Hospital Acquired Infection Treatment Market
One of the key restraints posing a threat to the global hospital acquired infection treatment market is the growing rate of treatment failure owing to the presence of an increasing number of multi-drug resistant bacteria. The frequent rate of survival for bacteria increases after being exposed to drugs that are designed to eliminate them, giving them the power to resist against them.
This is posing a major challenge for the industry as hospitals are looking for alternate treatments such as other forms of drug treatments. The number of patients suffering from multi-drug resistant bacteria is increasing and can prove to be a major cause of concern for the industry.
In terms of opportunities however, the focus on untapped markets for patients from lower and middle class incomes will prove to be beneficial. New players can aim to target emerging nations and flourish in the hospital acquired infection treatment industry.
key players in the market are having multiple drugs in their pipeline. The approval of these drugs may create growth opportunities in the market.
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