Economic Burden of Hospital-acquired Infection is Gripping
Hospital-acquired infection (HAI), an infection acquired during a hospital stay as the term suggests, manifests itself either during the hospitalization, or post-discharge. Medically known as nosocomial infection, HAIs are likely to cause discomfort and anxiety, and may even lead to death in severe cases. Hospital-acquired infections have been consuming sizeable efforts, and resources of the medical, and healthcare systems. During the 1990s, the national burden of HAIs occurring in surgical patients in England was estimated to be over £170 Mn - to the hospital sector. These infections continue to put immense economic burden on hospitals, patients, their families, community services, and industry at large. A lot of manpower, as well as financial resources are required to implement infection control measures, and diagnose the condition. The demand for hospital-acquired infection treatment remains on a steady growth trajectory. Multiple studies have estimated the direct economic burden of ~US$10 Bn on the healthcare system, while the resulting annual societal cost is in excess of US$200 Bn.
Increase in Number of Hospital Admissions and Surgical Procedures Push Hospital-acquired Infection Treatment Market
Experts opine that the number of healthcare associated infections will be 2 million+ annually by 2025. An increasing number of hospital admissions, and rising outpatient visits at clinics, and hospitals fuel the demand for a number of hospital-acquired infection treatment regimen. The number of annual outpatient visits is expected to reach ~5 billion in 2025. In the US alone, surgical procedures have increased at a CAGR of ~1.4% from 2013 through 2018 to reach 87.3 million from 81.5 million. Besides, an expanding geriatric population with weakening immune system is more prone to infections once hospitalised. Poor healthcare administration, and poorly maintained hygiene standards across middle- and low-income countries, and a constantly growing threat of antibiotic resistance contribute heavily towards the hospital-acquired infection treatment market growth. The key environmental factors such as bacterial, and other infectious materials present in/around hospital premises, high humidity, and high temperature are also driving the prevalence of hospital-acquired infections, thereby pushing the demand for HAI treatment.
Mucormycosis Maiming COVID-19 Survivors in India during Chaotic Second Wave
Although most cases of mucormycosis (black fungus) are sporadic, the recent upsurge in COVID-19 cases in India has increased the threat of mucormycosis in COVID-19 survivors. Mucormycosis is more likely affecting the recovered patients possibly due to extended administration of steroid, and immunosuppressant medications. COVID-19 patients with pre-existing comorbidities, and diabetic people exposed to steroids, and humidified oxygen for a long duration are those at maximum risk. Multiple cases of mucormycosis re-emergence have also been reported among COVID-19 patients at hospitals in India. Sion Hospital in Mumbai (Corona hotspot city in India), has reported 24 cases of the fungal infection during March-April, 2021, up from only six cases a year otherwise.
UTIs Remain a Commonplace Hospital-acquired Infection among All
Urinary tract infections (UTIs) are the most commonly seen types of hospital-acquired infections, besides lower respiratory tract infections (LRTIs), and surgical wound infections (SWIs). Of these types, UTI, and SWI together contribute to 50% of hospital-acquired infection cases; LRTI, skin infections, and other types capture the rest of the half. Nearly 75% of urinary tract infections are associated with urinary catheters, and roughly 25% of all hospitalised patients typically need urinary catheters.
Antibacterial Treatment Highly Sought-after in HAI Treatment Market
Antibacterial treatment segment dominates the hospital-acquired infection treatment market as bacterial infections remain the most commonly occurred ones in hospitals. The global antibiotic statistics indicate an increase of 35% in the antibiotic consumption between 2000 and 2010. According to the World Health Organization (WHO) report, casualties related to antibiotic resistance are alarmingly high (700,000 lives per year), and portends a disturbing count of 10 million per year by 2050, confirming that antibiotic resistance will be the most prevalent cause of death. Antiviral, and antifungal therapies follow, in the hospital acquired infection treatment market.
Market in Asia Pacific to Grow at a Prolific Rate
Asia Pacific is anticipated to register a significant CAGR in hospital-acquired infections market by the end of 2026. Poorly maintained hygiene at most healthcare settings, combined with favorable government initiatives to increase awareness about hospital-acquired infections, will boost the growth of market within the region. Moreover, growing hospital admissions, and increasing chronic disease incidences will drive the market growth. Recently, the magnitude, and the frequency of mucormycosis prevalence amid the second wave of the global COVID-19 pandemic are creating a challenging situation for doctors, and other healthcare providers – however, creating windows of new, untapped opportunities in the hospital-acquired infection treatment market.
Key Market Players in Global Hospital-acquired Infection Treatment Space
Merck & Co., Inc., Pfizer Inc., Bayer AG, GlaxoSmithKline Plc., Daiichi Sankyo Company Limited, AbbVie Inc., F. Hoffmann-La Roche Ltd, Allergan Plc., Bristol-Myers Squibb, AstraZeneca, Cepheid, Johnson & Johnson Services, Inc., Cipla Inc., DAIICHI SANKYO COMPANY LIMITED, GlaxoSmithKline plc., and Eli Lilly and Company are some of the prominent companies steering the competition in the global hospital-acquired infection treatment market.
Key Elements Included In The Study: Global Hospital-acquired Infection Treatment Market
Post Sale Support, Research Updates & Offerings
We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.
Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.Read more