Infection Control Market to be Worth Over $30.9 Billion by 2027
04 Feb 2020 • by Natalie Aster
Meticulous Research published a research report titled “Infection Control Market by Product & Solution [Sterilization (Steam, Radiation, Indicators), Cleaning & Disinfection (Disinfectant, Equipment), Endoscope Reprocessing, Protective Barriers, Software], and End User (Hospital, Life Science)- Forecast to 2027”.
According to this latest publication from Meticulous Research®, the infection control market is expected to grow at a CAGR of around 6.3% during the forecast period of 2019–2027. This growth is mainly attributed to the rising number of surgical procedures, and growing prevalence of various hospital acquired infections (HAIs). The number of surgeries in developed & developing countries is continuously increasing due to rising prevalence of chronic diseases, unhealthy habits, and few other factors. In addition, rise in medical devices and pharma sectors in emerging countries due to the improvement in medical infrastructure and increase in the penetration of health insurance are creating strong revenue growth opportunities for players operating in this market.
Growth Prospects in the Infection control Market
The infection control market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2027 – by Product & Solution [Sterilization (Steam, Radiation, Indicators), Cleaning & Disinfection (Disinfectant, Equipment), Endoscope Reprocessing, Protective Barriers, Software], and End User (Hospital, Life Science). The study also evaluates industry competitors and analyzes the market at regional level.
Based on products & solutions, the infection control market is classified into sterilization products, cleaning and disinfection products, endoscope reprocessing products, protective barriers, and software. The cleaning and disinfection products segment accounted for the largest share of the overall infection control market in 2018. However, the endoscope reprocessing products segment is estimated to register fastest growth over the forecast period. The growth in this segment is mainly attributed to growing importance of diagnostic and therapeutic endoscopy procedures, availability of advanced technologies, and growing concern about risk of HAIs associated with use of improperly reprocessed endoscopes.
Based on end user, the infection control market is mainly segmented into hospitals & clinics, medical device companies, and life science industry. In 2018, hospitals & clinics held the largest share of the infection control market, owing to the large patient footfalls in hospitals and growing need to curtail hospital-acquired infections (HAIs). Many a times, HAIs result in re-hospitalization and extended care delivery. This results in additional cost of care, in turn soaring the overall cost of care delivery. Thus, HAIs are considered as one of the major contributors to the overall healthcare spending in many of the countries. As HAIs can be prevented through efficient infection control policies, the increasing demand to curtail healthcare costs is expected to contribute to the growth of the infection control market among hospitals and clinics during the forecast period.
By geography, infection control market is categorized into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. In 2018, North America dominated the infection control market, while Asia-Pacific region is projected to register fastest growth during the forecast period of 2019-2027. In Asia-Pacific region, the growth is primarily driven by the increasing number of cases of emerging infectious diseases such as multidrug-resistant (MDR) organisms (MDROs) and pathogens with pandemic potential, rising number of surgical procedures, growing geriatric population and associated chronic conditions, and increasing investment in healthcare sector by governments in the region.
Some of the key players operating in the infection control market are STERIS plc. (U.S.), Cantel Medical Corp. (U.S.), Getinge AB (Sweden), Ecolab (U.S.), 3M Company (U.S.), Advanced Sterilization Products (U.S.), MMM Group (Germany), MATACHANA group (Spain), Belimed (Switzerland), and MELAG Medizintechnik oHG (Germany) among others.
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