Rising Number of Pipeline Drugs to Bode Well for Adoption of Hospital Infection Therapeutics Market
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.
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.