Infection Control Market to Grow at a CAGR of 6.6% | Opportunities and Challenges for New Market Entrants

MarketsandMarkets forecasts the infection control market to grow from USD 19,974.2 million in 2019 to USD 27,451.1 million by 2024, at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period.

Growth in the infection control market can largely be attributed to factors such as the high incidence of hospital-acquired infections; the increasing number of surgical procedures; the growing geriatric population and increasing incidence of chronic diseases; the growing focus on food sterilization and disinfection; technological advancements in sterilization equipment; and the increasing outsourcing of sterilization services among pharmaceutical companies, hospitals, and medical device manufacturers.

Opportunity:Growing medical devices and pharmaceutical industries in emerging economies

Emerging economies such as India, China, Brazil, Russia, and countries in Latin America and Southeast Asia are expected to provide significant growth opportunities to players operating in the infection control market. Over half the world's population resides in India and China, making these markets home to a large patient population. Public pressure to improve the quality of hospital care, the increased cost of HAIs in healthcare systems, the emergence of multi-drug-resistant microorganisms, and the initiatives of government authorities are playing an important role in the growth of the infection control market in these countries.

Moreover, emerging economies in the APAC region present lucrative investment opportunities for multinational infection control companies to offshore their business operations to these markets. For instance, in September 2018, Ecolab inaugurated the Greater China Healthcare Innovation and Customer Experience Center in Shanghai. In October 2017, the company expanded its presence across the APAC region by establishing new headquarters in Singapore.

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Challenge:Sterilization and disinfection of advanced medical instruments

There are certain concerns related to the cleaning, disinfection, and sterilization of advanced medical devices. Inadequate sterilization and disinfection of these devices might expose patients to the risk of acquiring HAIs. Moreover, with the introduction of technologically advanced instruments such as endoscopes and analyzers in the market, there is a growing need for advanced sterilizers compatible with the automated endoscope reprocessors used for cleaning and disinfecting flexible endoscopes after each procedure. Inappropriate disinfection of these complex and delicate instruments can increase the risk of infection among patients. An AER that is difficult to use, or one that breaks down frequently, can significantly increase the risk of improper or ineffective endoscope cleaning and create costly delays. Currently, reprocessing of these instruments after every use is a major challenge healthcare providers face in complying with infection control standards.

The Association for the Advancement of Medical Instrumentation has several working groups focusing on developing standards in several areas aimed to address the challenges involved in reprocessing medical devices. These working groups are focusing on instructions for reusable device reprocessing, steam sterilization hospital practices, reusable surgical textiles processing, endoscope reprocessing, human factors for device reprocessing, quality systems for device reprocessing, and cleaning of reusable medical devices. Reprocessing of medical devices is a difficult and complex job. Currently, hospitals are demanding sterile processing staff to be certified as it is a skill-intensive process.

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North America is expected to dominate the infection control market during the forecast period. Growth in this market is majorly driven by the rising demand for healthcare services (owing to an anticipated surge in the geriatric population in the coming years and the subsequent increase in the prevalence of chronic diseases) and the need for infection control to minimize the prevalence of HAIs and cost incurred due to HAIs.

Mr. Sanjay Gupta
MarketsandMarkets(TM) INC.
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