Technological advances, rise of superbugs fuel growth of global market
WELLESLEY, Mass., Oct. 10, 2018 (GLOBE NEWSWIRE) -- The healthcare-acquired infections industry is positioned to achieve healthy growth, with new players developing cutting-edge technologies such as disinfection pods, sensors and predictive tools. An updated BCC Research study projects that the global market for healthcare-acquired infection control will reach $24.7 billion in 2023, segmenting it by environment sterilization, medical devices and pharmaceuticals. Geographic regions are also examined.
Out of every 100 hospitalized patients at any given time, 7 in developed and 10 in developing countries will acquire at least one healthcare-associated infection. Key opportunity areas in this field include smart devices; methods that promote adherence to hand hygiene; no-touch disinfection technologies; and design of isolation units to enforce a hygienic environment. From an estimated $18.9 billion in 2018, a 5-year compound annual growth rate of 5.4% is projected, according to BCC Research’s report Healthcare-Acquired Infection: Devices, Pharmaceuticals, and Governmental Products.
New infection-control technologies including automated sterilization solutions, disinfecting robots, hand-hygiene sensors, and so forth will drive growth. Factors that may deter market expansion include restricted hospital budgets that prioritize only cost-effective techniques, regulatory barriers for infection-control medical devices and comparatively lower investment in antibiotics research.
“The practice of infection control in hospitals is decades old, and yet healthcare facilities are still trying to find newer ways to deal with it,” said BCC Research analyst Megha Joshi-Sood. “The rise of the middle-class segment, especially in high-growth markets of South-East Asia, will bring in newer healthcare facilities. Thus the demand for tools to prevent healthcare-acquired infections will increase.”
Growth in Pharmaceuticals for Healthcare-Acquired Infections
The healthcare-acquired infections pharmaceuticals market is a small percentage of the overall market for antivirals, antibiotics, and antifungals. Multidrug-resistant bacteria will probably remain the key area of research. Although incidences of healthcare-associated hepatitis B and C viral infections are decreasing, the markets for preventive vaccines for hepatitis B virus and influenza will grow due to vaccination of healthcare workers. Among antifungals, newer molecules such as those in the echinocandins class will have the most growth.
About BCC Research
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