According to a new report published by Allied Market Research, titled, “Asia-Pacific Hospital-Acquired Infection Diagnostics Market by Product, Test type, Infection type, End user, and Country: Opportunity Analysis and Industry Forecast, 2020–2027," The Asia-Pacific hospital-acquired infection diagnostics market accounted for $418.937 million in 2019, and is expected to reach $780.882 million by 2027, registering a CAGR of 7.5% from 2020 to 2027.
Healthcare facilities in Asia-Pacific pose a unique infection risk to patients. Infections contracted during hospital stays lead to unnecessary suffering and death for millions of patients every year. Such infections are called hospital-acquired infections (HAIs), and can be defined simply as an infection contracted in a hospital environment. Furthermore, HAI are mainly caused by bacteria, viruses and fungi. Most of these diseases can be contracted anywhere, but they present greater challenges in the healthcare setting, and are costly to deal with, both financially and in terms of physical and staff resources. Hence, fuels growth of the Asia-Pacific hospital-acquired infection diagnostics market.
Most of the markets are dropping down, owing to the outbreak, including the Asia-Pacific hospital-acquired infection diagnostics market. The Asia-Pacific hospital-acquired infection diagnostics market is negatively impacted by the pandemic as most countries adopted lockdown to combat the pandemic. In addition, most of the leading companies across the globe have slow down the manufacturing of other products. Furthermore, the individual contributions companies are collaborating to accelerate the development, manufacture, and delivery of vaccines, diagnostics, and treatments for COVID-19 patients.
As per the expresshealthcare.in, the findings specified that 7.92 central line-associated bloodstream infections occurred per 1,000 central line-days, 10.6 catheter-associated urinary tract infections per 1,000 urinary catheter-days and a ventilator-associated pneumonia rate of 10.4 per 1,000 mechanical ventilator-days in 2019. Furthermore, rise in the geriatric population, coupled with an increase in life-threatening diseases such as obesity, cancer, diabetes, respiratory and heart diseases, and is augmenting market demand. The implementation of strict government policies to control the level of infections and increasing focus on sterilization of food will foster Asia-Pacific hospital-acquired infection diagnostics market growth. In recent years, infectious disease diagnosis has gained relevance like never before, due to the development of new diseases and evolving pathogens. Effective diagnosis plays a pivotal role in preventing community transmission and avoiding the outbreak of diseases among the population. Moreover, rise in demand for the prevention of hospital-acquired infection will create a need for the market product.
On the basis of product type, the reagent and consumables segment is estimated to garner largest share during the forecast period. This segment is expected to maintain its dominant position throughout the forecast period. Growth of the segment is attributed to rise in the number of patients suffering from various infectious diseases and high prevalence of hospital acquired infections in low and middle income countries.
On the basis of test type, the molecular diagnostics segment is estimated to garner largest share during the forecast period. This is due to advantages of molecular diagnostics for infectious diseases, such as detection of lower amounts of infectious agents, provide an effective yet simple tool to establish efficacy of therapy, and modify treatment when appropriate. Furthermore, the increasing incidence of infectious diseases and the mammoth rise in reported cancer cases are fueling market growth.
On the basis of application, the surgical site infections segment is estimated to garner largest share during the forecast period. This attributed to the low awareness regarding HAIs among healthcare workers and rise in number of surgeries.
On the basis of end user, the hospital segment is estimated to garner largest share in 2019. It is expected to maintain its dominant position throughout the analysis period. Furthermore, rise in number of patients diagnosed with infectious diseases and the high probability of infections in hospital premises through blood-borne or respiratory pathogen transmission are also anticipated to boost the market growth.
The growth in the number of surgeries in hospitals and increase in no. of hospital stay is also augmenting the demand of the Asia-Pacific hospital-acquired infection diagnostics market.
India is the largest country segment of the Asia-Pacific hospital-acquired infection diagnostics market. However, the Sri Lanka and Myanmar is expected to witness significant growth in the coming years, primarily due to rising incidences of HAIs, growing number of hospitals, increasing medical tourism, and rising aging population with the resultant increase in the number of chronic disease cases, will further boost the Asia-Pacific hospital-acquired infection diagnostics market.
Key Findings Of The Study
- The study provides an in-depth analysis, current trends, and future estimations of the Asia-Pacific hospital-acquired infection diagnostics market to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- By product type, the reagent and consumables segment is anticipated to grow at a CAGR of 8.0% from 2020 to 2027.
- Extensive analysis of key segments of the industry help to understand the types of products and technologies used across various countries.