According to the latest report published by Credence Research, Inc. “Hospital Acquired Disease Testing: Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the hospital acquired disease testing market was valued at USD 523.0 Mn in 2015, and is expected to reach USD 1,630.0 Mn by 2022, expanding at a CAGR of 5.4% from 2016 to 2022.
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Market Insights
Hospital acquired infections/diseases (HAIs) or nosocomial infections are defined to the infection acquired by patients during their stay in healthcare settings. Approximately 9.2 out of 100 patients in the U.S. acquire HAI. The most common types of HAIs include pneumonia, urinary tract infection, bloodstream infection, surgical site infection and others. HAIs are caused by pathogens among patients with compromised immune system, and negligence by hospital staff. The significant morbidity and mortality, the associated management costs and growing pressure from governing bodies have urged care-givers to devise accurate diagnosis of HAIs for efficient healthcare provision.
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The global hospital acquired disease testing market is categorized into tests for hospital acquired pneumonia, urinary tract infection, surgical site infection, bloodstream infection, MRSA and others. Hospital acquired pneumonia and urinary tract infection together occupy more over 50% market share in 2015 with a larger set of revenue coming from urinary tract infection. The prevalence and morbidity associated with urinary tract infection is the highest among the other infection types and its diagnosis is the swiftest. It is anticipated that the dominance of this segment will continue through the forecast period 2016-2022. Other testing tools for surgical site infections and bloodstream infection are anticipated to undergo faster growth during the forecast period attributed by their alarming incidence in the emerging markets.
Geographically, North America is the largest regional market for hospital acquired disease testing, high number of hospital stays and the corresponding risk of contracting HAIs majorly determine the market size of this region. On the other hand, greater awareness and reducing the incidence of hospital readmission, along with the growing urgency to control hospital and healthcare costs contribute to the faster market growth rate of Asia-Pacific and Latin America hospital acquired disease testing markets.
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In view of the market competition, this market is fragmented with a multitude of companies offering HAI testing tools. Some of the notable players in the hospital acquired disease testing market include Diatherix Corp, Roche, Cantel Medical Corporation, Qiagen, Cephid, bioMeriux and others.
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