Thursday, 6 July 2017

Infection Control Market share forecast to witness considerable growth from 2017 to 2024

Infection Control Market is driven by growing geriatric population along with increasing prevalence of chronic diseases such as cancer, diabetes, obesity, heart and respiratory disorders owing to lifestyle changes, lack of physical exercise, consumption of junk food and harmful substances such as alcohol and tobacco. The elderly population is more prone to acquiring infections due to presence of combination of increased comorbid condition and decreasing activity of the immune system. Infection Control Market size is set to grow substantially over the forecast timeframe.

Rise in number of surgical procedures coupled with growing incidence of nosocomial infections will boost infection control market growth during the forecast period. As per WHO statistics, out of every 100 individuals hospitalized globally at any given time, 10 in developing countries and 7 in developed countries are likely to acquire nosocomial infections. 

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Increasing focus on sterilization of food and disinfection will further propel growth. Presence of various government and non-government initiatives pertaining to spreading awareness regarding need for disinfection and maintenance of proper hygiene will boost market expansion. For instance, ‘Save Lives: Clean your hands’ initiative aimed at spreading awareness regarding maintenance of hand hygiene globally.

Presence of strict regulatory policies pertaining to infection control agents will impede market growth to some extent. Moreover, saturation due to extensive use of these agents in developed economies will restrain growth in these regions.

Products for infection control encompass disinfection and sterilization products. Disinfection segment held largest market share in 2015. The segment includes disinfectants, endoscopic reprocessors, medical non-wovens and disinfectors. Sterilization methods include various sterilization methods such as heat, filtration, low temperature, radiation and contract sterilization services.

End users of infection control products include hospitals, life science companies, food industry, medical device companies and pharmaceutical companies among others. Hospital segment attributed for majority market share in 2015 owing to increasing number of surgical procedures and increasing prevalence of nosocomial infections.

Browse key industry insights from the report Infection Control Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Malaysia, Thailand, Indonesia, Australia, Brazil, Saudi Arabia, UAE, South Africa), Application Growth Potential, Competitive Market Growth & Forecast, 2017 – 2024” in detail along with the table of contents:

U.S. infection control market held the largest share in 2016. The region is anticipated to follow a similar trend over the forecast time. Increasing geriatric population and growing prevalence of chronic diseases will boost regional market growth. As per Administration on Aging statistics, there were 46.2 million individuals aged 65 years and above in U.S. in 2014 and this population is expected to double in size by 2060. According to CDC, elderly people are more prone to chronic disease with three out of four individuals aged 65 years and above suffering from multiple chronic conditions. Increasing incidence of nosocomial infections coupled with rising awareness levels amongst public as well as health practitioners will further boost growth. Favorable government initiatives will further expand regional market growth.

India and China are anticipated to be fastest growing markets. Presence of large geriatric population and increasing prevalence of chronic diseases will serve to be high impact rendering factors. As per NHRSC statistics, chronic diseases accounted for 60 percent of deaths in India in 2014. Rapid economic development in these countries along with improvement in healthcare infrastructure will boost market growth. Growing need to maintain hygienic conditions in healthcare settings along with rising public awareness due to initiatives promoting usage of disinfection and sterilization techniques will further augment growth.

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Some of the industry players include 3M Company, Belimed, Ahlstrom Corporation, Johnson & Johnson, Sterigenics International, Kimberly Clark Corporation, Steris, Getinge Group, Matachana Group, Cantel Medical Corporation.The market players opt for various strategic initiatives such as new product launches, mergers and acquisitions to broaden their product portfolio and strengthen their market position.

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