Hospital acquired disease testing Market
Hospital acquired disease testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
- According to Transparency Market Research’s latest report on the global hospital acquired disease testing market for the historical period 2017–2018 and forecast period 2019–2027, Increase in prevalence of hospital acquired infections and rise in the number of drug resistant pathogens and Establishment of government guidelines and code for prevention of hospital acquired infections are projected to drive the global hospital acquired disease testing market during the forecast period
- According to the report, the global hospital acquired disease testing market was valued at US$ 798.6 Mn in 2018 and is anticipated to expand at a CAGR of 14.7% from 2019 to 2027
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Rise in the Number of Drug Resistant Pathogens: Key Drivers
- Rapid and efficient solutions for infection detection not only assist in controlling the incidence of nosocomial infections, but also in controlling the overall medical costs, hospital stays, and death.
- Widespread availability of more sophisticated infection detection solutions particularly those under molecular diagnostics and their proven efficiency in delivering faster results has led to rise in demand for such products across the world.
- Government initiatives and hospital acquired infection controlling authorities focusing on spreading awareness about hospital acquired infection and available treatments are driving demand for hospital acquired infection testing.
- Therefore, increase in prevalence of hospital acquired infections and rise in drug resistant pathogens are fueling the growth of the hospital acquired infection testing market.
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Establishment of Government Guidelines and Code for Prevention of hospital acquired infections to Boost Market Growth
- According to the U.S. Department of Health and Human Services, hospital acquired infection prevention costs around US$ 28.0 Bn to US$ 33.0 Bn annually. In order to reduce the burden on hospitals resulting from extended stay of patients in hospitals, governments are taking initiatives to reduce hospital acquired infection prevalence in the respective countries.
- Developed countries have hospital acquired infection prevention and control authorities, with established guidelines for detection and treatment of hospital acquired infection. For example, the Centers for Disease Control and Prevention (CDC) recommends nucleic acid amplification test for detection of C. difficile, while the European Society of Clinical Microbiology and Infectious Diseases (ESCMID) recommends two-step detection process for identification of C. difficile.
- These guidelines drive the market for recommended tests in countries where the regulatory and guiding frameworks are established and followed. Therefore, stringent government regulations would boost the growth of the global hospital acquired infection testing market.
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Stringent Regulations and Guidance Framework to Hamper Market
- One of the major key constraints for successful adoption of molecular biology based diagnostics involves government regulations. All the major geographical markets have their own form of regulatory regime that covers the diagnostics domain.
- Such systems have been created long back and were not designed for the specific intention of regulating molecular biology based diagnostics.
- Moreover, the time and capital required to design and develop these products discourage manufacturers to engage in the development of novel and innovative products that could be introduced in various markets. Thus, stringent regulations are likely to restrain market growth during the forecast period.
Global Hospital acquired disease testing Market: Competitive Landscape
- This report profiles major players in the global hospital acquired disease testing market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.
- The hospital acquired disease testing market is highly fragmented with a number of international and local players operating in the market. The companies profiled in the report include
- Abbott Laboratories
- Alere, Inc.,
- Dickinson and Company
- bioMérieux SA, F
- Hoffmann-La Roche Ltd
- Hologic, Inc
- Siemens Healthcare
- Diatherix Laboratories, Inc.
- Meridian Bioscience, Inc.,
- Thermo Fisher Scientific, Inc.
Global Hospital acquired disease testing Market: Key Developments
- In January 2015, bioMérieux acquired the CEERAM (European Centre for Expertise and Research on Microbial Agents), an innovative molecular virology laboratory that specializes in the detection of foodborne and environmental viruses.
The report on the global hospital acquired disease testing market discussed individual strategies, followed by company profile of manufacturer of hospital acquired disease testing. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global hospital acquired disease testing market.
TMR’s report on the global hospital acquired disease testing market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global hospital acquired disease testing market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global hospital acquired disease testing market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global hospital acquired disease testing market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global hospital acquired disease testing market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global hospital acquired disease testing market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global hospital acquired disease testing market.
The report delves into the competitive landscape of the global hospital acquired disease testing market. Key players operating in the global hospital acquired disease testing market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global hospital acquired disease testing market that have been profiled in this report.
Key Questions Answered in Global Hospital acquired disease testing Market Report
- What is the scope of growth of product companies in the global hospital acquired disease testing market?
- What will be the Y-o-Y growth of the global hospital acquired disease testing market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global hospital acquired disease testing market?
- Will North America continue to be the most profitable market for hospital acquired disease testing providers?
- Which factors are anticipated to hamper the growth of the global hospital acquired disease testing market during the forecast period?
- Which are the leading companies in the global hospital acquired disease testing market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global hospital acquired disease testing market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global hospital acquired disease testing market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the hospital acquired disease testing market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the hospital acquired disease testing market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global hospital acquired disease testing market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global hospital acquired disease testing market more reliably and accurately.
Regional Segmentation of Hospital acquired disease testing Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Hospital acquired disease testing Market – Segmentation
Middle East & Africa