Virtual health assistants to keep the hopes high for Hospital Acquired Infection Control Market at a CAGR of 3.9%
The hospital acquired infection control market in 2020 was worth US$ 5.5 Bn, which is expected to expand 1.6X by the end of the decade. The market has been analyzed in a recently revised survey conducted by skilled analysts at Persistence Market Research. They have predicted demand for hospital acquired infection control equipment to rise at a steady CAGR of 5% over the next ten years.
Hospital-acquired infections (HAIs), also known as nosocomial infections, are infections that occur in patients while they are receiving treatment in a healthcare facility. These infections are caused by a variety of bacteria, viruses, and fungi, and they can lead to significant morbidity and mortality. Hospital-acquired infection control is therefore an essential aspect of healthcare, with a range of products and services available to help prevent and manage these infections.
The world has seen substantial rise in the number of infectious diseases over the past decade, and this trend is anticipated to be followed through this decade as well. We saw the onset of a major pandemic in 2020, which made the world rethink its approach toward infectious diseases and their control and prevention. Infection control is key to minimize the impact of any disease as most result in community spread that often goes unmonitored. Improper sanitation of hospital surroundings and inadequate measures to curb infections from spreading are factors that majorly influence the need for hospital acquired infection control.
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Rising awareness regarding hospital acquired infections (HAIs), government initiatives to promote infection control, and increasing cases of hospital acquired infections are the main factors driving market growth. North America is anticipated to be the dominant market in terms of revenue share, while that in APAC is expected to rise at a noteworthy CAGR over the decade.
Prime players in the industry are focusing on maximizing their revenue potential across the globe and are trying to achieve this by adopting various growth strategies.
- Infection control is being revolutionized by a Texas-based startup known as PURioLABS. The company has developed a new portable disinfection cabinet called PURioLABS. This new cabinet will provide rapid microbe and bacteria killing service for devices and equipment that are most used at medical institutions.
- In April 2021, a division of Unimech Aerospace and Manufacturing, Unimech Healthcare announced the launch of its new disinfectant solutions and systems. The new range – UniClean, is equipped with UVGI technology and cloud-based operation.
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Key Takeaways from Market Study
- The global hospital acquired infection control market is slated to rise at a steady CAGR of 5% over the decade.
- The market across the Asian region is predicted to rise at the fastest CAGR.
- North America held a revenue share of around 30% of the global market in 2020.
- Revenue from the sales of hospital acquired infection control equipment is anticipated to reach nearly US$ 9 Bn by 2031.
- Demand for hospital acquired infection control in APAC is expected to be majorly driven by developing healthcare infrastructure in emerging economies such as India.
- Increasing focus on controlling infections, rising awareness about hospital acquired infections, government backing for infection control, and high prevalence of infectious and contagious diseases are some of the major factors driving market growth.
Competitive Landscape
- The global market for hospital acquired infection control has been identified as a fairly fragmented space due to the presence of a high number of industry participants.
- Some of the key market players included in the report are Olympus Corporation, Medivators Inc. (Cantel Medical Corp.), Getinge Group, STERIS Plc., Belimed AG (Metall Zug), Steelco S.P.A, Pfizer Inc., F. Hoffmann-La Roche Ltd, Merck & Co. Inc., Advanced Sterilization Products Services Inc. (Johnson & Johnson), Abbott Laboratories, Bayer AG, Alere Inc., The 3M Company, and Cepheid Inc.
- The above are identified as key manufacturers of hospital acquired infection control systems. These market participants are engaged in market expansion activities and the research & development of new and more products.
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