OREANDA-NEWS. Concerns over increasing incidence of hospital-acquired diseases or nosocomial diseases have prompted healthcare authorities and providers to focus more on the adoption of hospital infection therapeutics as a safety measure. A study by the World Health Organization (WHO) indicates that out of every 100 hospitalized patients at a particular time, 7 in developed and 10 in developing countries will get infected by at least one hospital-acquired infection. As the geriatric and neonatal population in the hospital settings is more susceptible to acquiring these diseases, a rise in these demographics is expected to give a significant push to the global hospital infection therapeutics market.
Transparency Market Research (TMR) forecasts that the aforementioned factors are expected to give an impetus to the market. According to a report by TMR, the global hospital infection therapeutics market stood at US$3.1 bn in 2013 and is anticipated to rise to US$3.6 bn by 2020, expanding at a 3.1% CAGR from 2014 to 2020.
The absence of regulatory bodies and efficacious control programs is inhibiting the growth of the market in many parts of the world. For instance, in Africa, several countries do not have control authorities or efficient programs to control or prevent the spread of hospital-acquired diseases. In the U.S., the unwillingness or inability of government agencies have caused failure in tracking the number of deaths due to hospital-acquired diseases. These trends hinder the widespread awareness about hospital-acquired diseases, thereby restraining the global hospital infection therapeutics market.
Geographically, North America dominated the market in terms of revenue in 2013, followed by Europe. Factors such as the rising number of multi-drug resistant microbial pathogens, high ratio of hospitals per thousand of the population, high prevalence of various hospital infections, and increasing demand for advanced therapeutics, especially in the developed countries of these regions, are fuelling the growth of the market.
In most of the low to medium income countries in Asia Pacific, the demand for hospital infection therapeutics will increase due to the presence of a large patient pool suffering from HIS, lack of standard healthcare facilities, low social awareness, and unfavorable environmental conditions. In developing countries, the continuously improving healthcare infrastructure coupled with increasing consumer purchasing power is likely to boost the adoption of hospital infection therapeutics. These factors, collectively, are estimated to contribute to the significant growth of Asia Pacific as a regional market for hospital infection therapeutics.