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Infection Prevention Devices Market to Grow at a CAGR of 3.6 % during the forecast period 2020-2025


Infection Prevention

iCrowdNewswire   Jul 24, 2020  2:00 PM ET

Infection Prevention Devices Market size is forecast to reach $2.3 billion by 2025, growing at a CAGR of 3.6% during the forecast period 2020-2025. Increasing number of surgical procedures and growing geriatric population are the major factors driving the growth of the market. Increase in the number of people with chronic disease and technological advancements in sterilization equipment is set to further enhance the overall market demand of infection prevention devices during the forecast period 2020-2025.

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Product- Segment Analysis

The medical waste disposable devices segment held the largest share in the Infection Prevention Devices Market in 2019 and is estimated to grow at a CAGR of 2.4% during the forecast period 2020-2025. The growth in this segment can be attributed to the use of sterilization products. Sterilization products destroys all microorganisms on the surface of an article or in a fluid to prevent disease transmission associated with the use of that item. While the use of inadequately sterilized critical items represents a high risk of transmitting pathogens owing to the wide margin of safety associated with the sterilization processes used in healthcare facilities. Sterility assurance monitoring helps the Sterile Processing Technician confirm that an instrument has received the intended sterilization parameters and is safe to use. However, it is estimated that medical waste disposable devices is estimated be the fastest growing segment and is set to register a highest CAGR during the forecast period 2020-2025.

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End User – Segment Analysis

Hospitals holds major share in the Infection Prevention Devices Market in 2019. This is owing to the high probability of acquiring infections in hospital premises through respiratory or blood borne pathogen transmission. The emergence of personalized patient care and establishment of urgent care clinics and primary care clinics are reflecting the expansion of patient-care across hospital levels. Organizations following this path require infection prevention supplies and equipment to minimize or eradicate the spread of pathogens. The establishment of such mobile and efficient clinical care centres is likely to create major demand for infection prevention devices. It is estimated that lifescience industries segment to be the fastest growing segment and is set to register a highest CAGR during the forecast period (2020-2025).

Geography – Segment Analysis

North America dominates the infection prevention devices market in 2019 with a share of more than 39.7%, followed by Asia Pacific. This is owing to the growth in surgical procedures and rise in hospital admissions. Consistent number of strategic collaborations adopted by key market players to widen their product portfolio and infection prevention devices are some of the other factors that is driving the growth of the market in this region. The emergence of personalized patient care and establishment of urgent care clinics and primary care clinics are reflecting the expansion of patient-care across hospital levels. Organizations following this path require infection prevention supplies and equipment to minimize or eradicate the spread of pathogens. The establishment of such mobile and efficient clinical care centers in North America is likely to create major demand for infection prevention devices.

However, Asia – Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the growing presence of outsourcing organizations, growing healthcare expenditures and evolution of the healthcare standards & infrastructure across this region. Presence of various voluntary and government organizations focused on improving infection control standards is also one of the significant factors contributing towards the growth of the infection prevention devices in Asia Pacific region.

Drivers – Infection Prevention Devices Market

Rising Geriatric Population to Create Opportunities

Rising geriatric population with the increasing incidence of chronic diseases among the older population are creating opportunities for the infection prevention devices market. Hospital associated infections is becoming a crucial part of patient care, directing attention towards next-gen infection prevention devices. Increasing investment being incurred by various healthcare organizations on the expansion of their capabilities and infrastructural facilities and high levels of growth associated with the geriatric population who are more prone to longer duration of hospital stays along with the greater focus on prevention of diseases and disorders from the global population rather than the cure is set to propel the market growth.

Growing Antibiotic Resistance to Bolster Demand

As healthcare continues to develop, emerging organisms are becoming stronger and more immune to antibiotics. Antibiotic resistance is emerging as a global health issue. Infection prevention and control remains the most sought after way to combat this health concern. Concerns regarding the incidence of anti-biotic resistance and degraded growth of anti biotics development requiring better level of anti-biotic development is poised to drive the growth of the infection prevention devices market. The government organizations are increasingly involved in issuing guidelines in order to promote awareness pertaining to efficient prevention measures globally, which is set to contribute to the market growth throughout the forecast period 2020-2025.

Challenges – Infection Prevention Devices Market

Lack of preference of patients to visit hospitals and other healthcare facilities owing to high costs of treatment

Some of the factors that can hamper the growth of the infection prevention devices market are lack of preference of patients to visit hospitals and other healthcare facilities owing to high cost of treatment and advancements in the capabilities of healthcare facilities reducing the duration of hospital stay of patients.

Infection Prevention Devices Industry Outlook

Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the infection prevention devices market. In 2019, Infection Prevention Devices Market share is consolidated by the top ten players present in the market. Infection prevention devices top 10 companies are Advanced Sterilization Products; ,Cardinal Health , PAUL HARTMANN AG , Mölnlycke Health Care AB , B. Braun Melsungen AG , Medline Industries Inc , Hollister Incorporated, BD Ahlstrom-Munksjö , ANSELL LTD. , Cantel Medical , The Clorox Company , Contec Healthcare ,Getinge AB , and Coloplast A/S among others.

Acquisitions/Product Launches

Key Takeaways
  • North America dominates the Infection Prevention Devices Market in 2019 owing to rise in hospitals admissions and increased demand for infection prevention products. The Infection Prevention Devices Market scope for different regions will be provided in the final report.
  • Increasing investment by various healthcare organizations on the expansion of their capabilities and greater focus on prevention of disease is likely to aid in the market growth of infection prevention devices market.
  • Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the market will be provided in the Infection Prevention Devices Market report.
  • Lack of preference of patients to visit hospitals and other healthcare facilities owing to high costs of treatment is poised to create hurdles for the Infection Prevention Devices Market.

Related Reports:

1. Sterilization Equipment Market

https://www.industryarc.com/Report/15933/sterilization-equipment-market.html

2. Infectious Disease Testing/Diagnostic Market

https://www.industryarc.com/Report/15125/infectious-disease-testing-market.html

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