Hospital Acquired Disease Testing Market to Register a CAGR of 19.9% 2015-2023 due to High Prevalence of HAIs
The research report includes an evaluation of the diagnostic tests performed to diagnose hospital-related infections. Also known as nosocomial infections, hospital acquired diseases have become a growing cause of morbidity across the world. The research report has used SWOT analysis to identify the strengths, weaknesses, opportunities, and threats of the market. Furthermore, it also includes Porter’s five forces analysis that highlights the threat of new entrants, the threat of substitute products or services, the bargaining power of customers (buyers), the bargaining power of suppliers, and the intensity of competitive rivalry.
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According to the research report, the global hospital acquired disease testing market was valued at US$0.4 bn in 2014 and is likely to reach US$2.0 bn by 2023, rising at a CAGR of 19.9% from 2015 to 2023. This growth will be attributable to the growing number of cases of nosocomial infections.
In the past few years, the high incidence of nosocomial infections has led to a high rate of morbidity. This is especially seen amongst patients who have a weaker immune system and fall prey to poor hygiene conditions in the hospitals. The growing pool of geriatrics is the primary reasons for the growth in the prevalence of hospital acquired diseases across the globe.
The global hospital acquired disease testing market has been segmented on the basis of test and geography. On the basis of test, this market is segmented into urinary tract infections, pneumonia infections, bloodstream-associated infections, MRSA infections, surgical site infections, and others. Geographically, this market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
Of all the segments based on test type, the hospital acquired urinary tract infection diagnostics segment holds a dominating share in the overall market due to the high prevalence of urinary infections and its impact on morbidity. Analysts predict that this segment will continue to show its dominance in the market through 2023. Additionally, the market for testing solutions such as surgical site infections and pneumonia (ventilator associated and hospital associated infections) will also expand due to the high prevalence of these conditions in emerging economies in Latin America, Asia Pacific, and other developing regions.
Some of the top players mentioned in the research report about the global hospital acquired disease testing market are Diatherix Laboratories Inc., Qiagen GmbH, Gen-Probe Inc., L Hoffman La Roche, Cepheid, Inc., Meridian Biosciences, Life Technologies Corporation, Nordion, Inc., and Cantel Medical Corporation. The research report also offers a detailed explanation of the competitive landscape of the global hospital acquired disease testing market. Furthermore, it also assesses the financial overview, research and development activities, business and marketing strategies, product portfolio, and strategic mergers and acquisitions of these top players in the overall market.
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