Hospital-Acquired Infection Diagnostics Market Detailed Strategies, Financials, and Recent Developments
The growing geriatric population, development of technologically advanced products, and increasing demand for hospital-acquired infection (HAI) diagnostics in developing economies are driving the hospital-acquired infection (HAI) diagnostics market.
It generated a $2,657.6 million revenue in 2016, and is expected to grow at a 7.6% CAGR during the forecast period (2017–2023). HAIs, also known as nosocomial infections, are caught on during hospitalization at nursing homes, hospitals, outpatient clinics, rehabilitation centers, and other clinical settings.
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Further, the increasing demand for disease screening in emerging economies is driving the HAI diagnostics market forward. The unsafe use of blood products, injections, and other medical devices and deficient waste management result in the spreading of infections in healthcare settings. The World Health Organization revealed that in emerging and transitional countries, the proportion of unsterilized injections and syringes being reused is between 1.5% and 69.4%. Additionally, the increasing geriatric population is contributing to the rising HAI incidence because of the compromised immunity of aged people that makes them prone to infections.
The application segment of the HAI diagnostics market is subdivided into drug resistance testing and disease testing. The diagnosis process has become easier and more accurate with the inclusion of advanced technology that has led to the development of many modern techniques. Technological advancements have resulted in the development of mass spectrometry, nucleic acid-based technology, isothermal microcalorimetry, flow cytometry, and near-infrared spectroscopy, which are heavily employed in the diagnosis of infectious diseases. This is expected to result in the faster growth of the disease testing category at a 7.9% CAGR during the forecast period.
Therefore, the market is set to advance in the forecast period due to technological advancements, growing geriatric population, and rising prevalence of HAIs in emerging economies as well.
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