Hospital Acquired Infection Treatment Market to Surge at a Robust Pace by 2024
According to a report by Transparency Market Research (TMR), the global hospital-acquired infection treatment market is extremely fragmented. The market is currently witnessing a threat from the increasing number of generic drugs which are coming up, as many of the popular drugs have witnessed patent expiration. This in turn has led to a reduced profit margin for players within the market. However, all these factors are not stopping new entrants from entering the market. Therefore, the threat of new entrants continues to remain high even though there exists entry barriers for players who wish to enter the market on account of the capital intensive R&D required as well as strict regulated frameworks set by the concerned authorities. Players are competing with each other by developing effective and alternative therapies as well as multidrug-resistant pathogens players. Abbott, Bayer AG, Pfizer, Inc., and Merck & Co., Inc. are the leading players within the global hospital-acquired infection treatment market
According to TMR, the global hospital-acquired infection treatment market will be worth US$36.61 bn by 2024. On the basis of infection type, the urinary tract infection segment is anticipated to lead an expanded the fastest base during the forecast period. On the basis of treatment, the antibacterial drug segment is anticipated to witness the fastest growth during the forecast period. By geography, Asia Pacific is witnessing the fastest growth rate on account of increasing incidences of hospital-acquired infections in the developing nations of Asia Pacific resulting from low funding from government and other bodies as well as poor hygiene and mismanagement in the hospitals.
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The rising population of the elderly, who generally have low physical immunity, and are therefore vulnerable to infections is expected to be the leading reason for the growth of the global hospital-acquired infection treatment market. Another factor which is boosting the growth of this market is the poor overall condition of healthcare organizations in developing nations. Poor hygiene standards in many healthcare organizations in developing nations will push the demand for hospital-acquired infection treatment options, thereby benefitting the market.
On the other hand, the rise in the number of failures in treatment due to increasing number of multidrug-resistant bacteria will challenge the growth of this market. The survival rate of bacteria after being exposed to drugs which are developed to eliminate them is increasing as these catering bacteria have started to develop a resistance to them. This is expected to pose a challenge for the healthcare industry. Another factor which is acting as a challenge is the side effects of multidrug-resistant bacteria detrimental for patients recovery and even be fatal for them.
TMR recommends that players within the global hospital-acquired infection market need to have multiple drugs in the pipeline. The approval of these drugs will drive the growth aspects of the market. As there exists massive growth opportunities in the emerging economies due to a large number of patients from low and middle-income classes, TMR recommends that key players focus on the untapped medical needs of these nations.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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