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Infection Surveillance Solutions Market worth $1,100 million | MarketsandMarkets

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Infection Surveillance Solutions Market worth $1,100 million | MarketsandMarkets

April 03
18:28 2023
Infection Surveillance Solutions Market worth $1,100 million | MarketsandMarkets
Becton, Dickinson and Company (US), Premier, Inc. (US), Wolters Kluwer N.V. (Netherlands), Cerner Corporation (US), Baxter International Inc. (US)
Infection Surveillance Solutions Market in terms of revenue was estimated to be worth $577 million in 2022 and is poised to reach $1,100 million by 2027, growing at a CAGR of 13.8% from 2022 to 2027 according to a new report by MarketsandMarkets™

The infection surveillance solutions industry is projected to experience rapid growth in the near future. This growth will be driven by the increasing focus on public health and the rising prevalence of infectious diseases. The use of automated surveillance systems and real-time data analysis will be essential in identifying and responding to outbreaks quickly. Other factors driving the growth of this industry include the increasing adoption of cloud-based solutions, investments in research and development, and the use of predictive analytics. Additionally, governments around the world are providing incentives for the development of infection surveillance solutions, which will further propel the growth of this industry.

Infection Surveillance Solutions Market in terms of revenue was estimated to be worth $577 million in 2022 and is poised to reach $1,100 million by 2027, growing at a CAGR of 13.8% from 2022 to 2027 according to a new report by MarketsandMarkets™. The increasing prevalence of hospital acquired infections (HAI), increasing number of surgeries, growing geriatric population and chronic diseases, and escalating healthcare expenditure is fueling the demand for infection surveillance solutions. The new technology trends in cloud-based and AI integrated software for infection surveillance and control is creating numerous opportunities for solution providers. Furthermore, Emerging economies such as India, China, Brazil, Russia, and countries in Latin America and Southeast Asia are expected to provide significant growth opportunities owing to public pressure to improve the quality of hospital care, the increased cost of HAIs in healthcare systems, the emergence of multi-drug-resistant microorganisms, and the initiatives of government.

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Nursing homes segment is expected to be the largest infection surveillance solutions market for long-term care facilities, by type, during the forecast period

Based on type, the infection surveillance solutions market for long-term care (LTC) facilities is segmented into nursing homes, skilled nursing facilities, and assisted living facilities. The infection surveillance software segment accounted for the largest share of the infection surveillance solutions market. The large share of this segment is primarily attributed to the high prevalence of HAIs in nursing homes and the increased adoption of infection surveillance solutions in these settings.

The hospital segment, by end user, is expected to be the largest and fastest growing infection surveillance solutions market during the forecast period

The infection surveillance solutions market, based on end user, is segmented into hospitals, long-term care facilities, and other end users. The hospitals segment accounted for the largest share of the infection surveillance solutions market and witness the highest growth during the forecast. The high incidence of HAIs, and the resulting cost burden on stakeholders, have driven the adoption of infection control products and services in hospitals. Furthermore, the large patient volume, and the increasing cases of surgical site infections (SSIs) are also driving the growth of the market. The most common HAIs reported in hospitals are central line-associated bloodstream infections, methicillin-resistant staphylococcus aureus (MRSA), vancomycin-resistant enterococci bloodstream infections, clostridium difficile infections, and SSIs.

Asia Pacific region is expected to register the highest CAGR in the infection surveillance solutions market during the forecast period

The Asia Pacific market is expected to witness the highest growth from 2022 to 2027. There is a growing need to implement and integrate medical devices and HCIT solutions in Asia to provide patients with cost-effective and quality clinical care. As a result, many global HCIT companies are investing in the Asian market to capitalize on the growing opportunities. The growing patient volume and the rising need for accurate and timely tracking and monitoring of diseases will fuel the growth of the infection surveillance solutions market in Asia Pacific.

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Infection Surveillance Solutions Market Dynamics:

Drivers:

  1. Growing global prevalence of COVID-19
  2. Increasing prevalence of hospital-acquired infections
  3. Increasing adoption of antimicrobial stewardship programs
  4. Increasing number of surgeries
  5. Growing geriatric population and the increasing incidence of chronic diseases
  6. Growing investments to improve healthcare systems

Restraints:

  1. High cost of deployment for small healthcare organizations
  2. Reluctance among medical professionals to adopt advanced healthcare IT solutions

Opportunities:

  • Increasing consolidation in the healthcare industry
  • Cloud-based software solutions
  • Emerging markets

Challenges:

  1. Shortage of skilled healthcare IT professionals
  2. Data security concerns

Key Market Players:

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the global infection surveillance solutions market. These include including Becton, Dickinson and Company (US), Premier, Inc. (US), Wolters Kluwer N.V. (Netherlands), Cerner Corporation (US), Baxter International Inc. (US), GOJO Industries, Inc. (US), Clinisys (US), Deb Group Ltd. (UK), BioVigil Healthcare Systems (US), RLDatix (UK), Merative (US), Vecna Technologies, Inc. (US), VigiLanz Corporation (US), Ecolab (US), and Harris Healthcare (US). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies such as product launches/enhancements, expansions, agreements, partnerships, collaborations, sales contracts, investments, joint ventures, and acquisitions to increase their respective market shares.

Recent Developments:

  • In November 2022, Wolters Kluwer strengthened its clinical surveillance portfolio with Sentri7 Sepsis Monitor. Sentri7 Sepsis Monitor (formerly known as POC Advisor) leverages clinical natural language processing (cNLP) and advanced algorithms to surveil a hospital’s patients 24/7 to identify early signs of sepsis.
  • In June 2022, Premier unveiled the PINC AI solution for long-term care (LTC) facilities. The solution provides the same level of clinical surveillance used in the acute setting.
  • In January 2022, Becton, Dickinson and Company (US) collaborated Pfizer (US) and Wellcome (UK). The collaboration enabled the companies to survey existing diagnostic practices to highlight benefits and gaps in diagnostic testing in AMR stewardship to improve and further advocate for patient care, clinical practice, and healthcare economics.
  • In July 2021, Baystate Health and Cerner Corporation collaborated by introducing a digital health platform to integrate care delivery and financing systems for a more consumer-focused approach to patient care.
  • In February 2021, Ecolab (US) launched Hand Hygiene Compliance Measurement (HHCM) System. This system is a digitally connected technology that systematically monitors and improves hand hygiene in healthcare across Europe.

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