Hospital Acquired Disease Testing Market: Overview
The alarming rate at which patients are suffering from hospital acquired infections (HAIs), especially in underdeveloped nations has led to stringent regulations penalizing hospitals for their high rates of HAIs. Hospitals today, are therefore taking many safety precautions and necessary steps in order to prevent hospital acquired infections. Thus, stringent regulations and increasing awareness regarding HAIs will boost the demand for hospital acquired disease testing. The global hospital acquired disease testing is therefore anticipated to grow at a double digit CAGR in the forecast period.
Hospital Acquired Disease Testing for Urinary Tract Infection Witnessing Highest Demand
It has been found that the most common hospital acquired infection which is affecting millions worldwide is urinary tract infection. Therefore, the test that is most in demand in the global hospital acquired disease testing is the test for urinary tract infection. Also, it is likely that the demand for HAI testing will also be high for pneumonia, MRSA, and surgical site infections. Hospital acquired disease testing is also used extensively for bloodstream tests.
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Alarming Rate of Deaths due to HAIs in U.S. Making North America Most Lucrative Market
By geography, North America is leading in the hospital acquired disease testing market, followed by Europe. The growing incidences of death per year in the U.S. on account of HAIs is one of the key reasons behind the growing market for hospital acquired disease testing in North America. The regulations imposed by governments and other bodies as well as rising demand for diagnostics will also help fuel the growth of this market in America. But, the fastest growth rate is anticipated to be witnessed by Asia Pacific in the hospital acquired disease testing market. The growth of the market in Asia Pacific is linked with the growing incidence of nosocomial infections and with it the rising impositions of various strict regulations to curb HAIs. Moreover, growing investments in healthcare infrastructure will also favour the hospital acquired disease testing market in the region.
Absence of Effective Programs and Strict Policies in African and other Under-developed Countries to Restrain Market’s Growth
One of the key factors restricting the market’s growth of the lack of stringent policies in under-developed nations. The adoption of molecular-biology-based diagnostics is limited on account of stringent policies in developing nations. This will also hamper the hospital acquired disease testing market’s growth. Also, countries in Africa such as Nigeria have no effective programs or regulations for controlling hospital acquired diseases. On a bright note, the growing health concerns among patients worldwide will help the market to grow.
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There is little scope for new players to enter in the global hospital acquired disease testing market. The number of players is extremely limited and hence the competition between these few companies is supremely high. Players are striving to tap on the vast opportunities o fgrowth that lie within the developing nations. This will also help them gain shares in the market. List of leading players within the market of global hospital acquired diseases testing include Roche, Abbott Laboratories, Thermo Fisher Scientific, Inc., Becton Dickinson and Company, and Alere, Inc.
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