According to a new report published by Allied Market Research, titled, Hospital-acquired infection diagnostics Market by Product, Test Type, Application, Infection Type and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global hospital-acquired infection diagnostics market was valued at $2,571 million in 2016, and is projected to reach $4,311 million by 2023, growing at a CAGR of 7.5% from 2017 to 2023. The urinary tract infections (UTI) segment accounted for maximum share of the total market in 2016.
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Hospital-acquired infection are contaminations caused by bacteria, viral, and fungal pathogens. These infections are usually acquired in clinical and hospital settings mainly due to an infected patient, outside environment, or from the staff of that facility.
Rise in prevalence of infections from hospitals and clinical settings drive the market. However, the lack of awareness regarding hospital-acquired infection diagnostics impedes the market growth. Moreover, the technological advancements in healthcare sector for the innovation of novel and sophisticated products is projected to create lucrative opportunities for key market players.
Drug resistance testing segment is anticipated to maintain its dominance during the forecast period, accounting for major share of the global hospital-acquired infections diagnostics market. This is due to the benefits drug resistance testing offers such as they are cost-effective when the prevalence of drug resistance in chronically infected patients is low.
Key Findings of the Hospital-acquired Infection Diagnostics Market:
- The U.S. was the major shareholder in the North America hospital-acquired infection diagnostics market, and accounted for the highest share in 2016.
- Disease testing is expected to grow at the highest CAGR during 2017-2023.
- Japan occupied about two-ninths share of the total Asia-Pacific hospital-acquired infections diagnostics market in 2016.whereas, South Korea is expected to grow rapidly registering a CAGR of 8.3% during the forecast period.
- The immunoassay segment dominated the market in 2016, growing at a CAGR of 5.6% from 2017 to 2023.
- Molecular diagnostics accounted for about one fourth share of the total market share in 2016 and is expected to grow with a high CAGR of 12.8% during the forecast period.
In 2016, Asia-Pacific and LAMEA collectively accounted for about one fifth share of the global hospital-acquired infection diagnostics market and is expected to continue this trend throughout the forecast period. The key factors driving the market growth include the demand for hospital-acquired infection diagnostics from middle and low-income countries owing to the massive population and increase in prevalence of diseases.
The report provides a comprehensive analysis of the key players operating in the global hospital-acquired infection diagnostics market such as Abbott Laboratories, AdvanDX, Alere Inc., AstraZeneca plc, Bayer Schering Pharma LLC, Becton Dickinson and Company, Cepheid Inc., Roche AG, Daiichi Sankyo, and Hologic, Inc.
The other players in the value chain of the global hospital-acquired infection diagnostics market include GlaxoSmithKline plc, Johnson & Johnson, Merck & Co., Meridien, Pfizer, and Seegene.