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.
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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.
How are government initiatives influencing the growth of the global hospital infection therapeutics market?
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.
On the other hand, the increasing infection control and hospital surveillance programs in developed countries are leading to a reduction in the cases of hospital-acquired infections. As a result, the demand for hospital infection therapeutics is expected to decrease.
Which trends are expected to influence the growth of the global hospital infection therapeutics market in the near future?
The global hospital infection therapeutics market is facing considerable challenges due to increasing antimicrobial resistance among certain strains of bacteria such as Methicillin-Resistant Staphylococcus Aureus (MRSA), which has rendered available drugs obsolete. However, the presence of a huge scope for the development of hospital infection therapeutics has resulted in an increasing number of pipeline drug molecules for treating a range of multi-drug resistant microbes. Additionally, some manufacturers and researchers are developing vaccines to address the increasing prevalence of hospital-acquired infections (HIS). This trend is likely to augur well for the growth of the market in the coming years. Moreover, the increasing demand for these therapeutics from emerging nations is anticipated to present immense growth opportunities to the manufacturers.
Which trends are positively influencing the growth of the hospital infection therapeutics market in developed and developing regions?
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.
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