Rising Occurrence of HAIs to Increase Global Demand for Hospital Infection Therapeutics Market, Reports TMR
With intense rivalry between Pfizer Inc., Bayer AG, GlaxoSmithKline Plc, Merck & Co., and Astra Zeneca Plc, the global hospital infection therapeutics market has been demonstrating a high degree of competition, finds a report by Transparency Market Research (TMR). Hitherto, these companies relied upon the introduction of new and improved therapeutic drugs in a bid to sustain. However, in the long run, they will need to look more closely at exploring mergers, acquisitions, and strategic partnerships to create new possibilities in order to expand further.
The report projects the global market for hospital infection therapeutics to attain an opportunity worth US$3.6 bn by 2020, rising from US$3.0 bn in 2013 at a CAGR of 3.10% during the period from 2014 to 2020.
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Hospital Infection Therapeutics to Gain Impetus from Increasing Incidence of Hospital-Acquired Infections
“Hospital-acquired infections have been considered as one of the prime threats to human health by healthcare organizations around the world,” says an analyst at TMR. According to the WHO, of the overall pool of hospitalized patients, 7% patients in developed economies and 10% in emerging economies were diagnosed with at least one form of hospital-acquired infections in 2013.
As the prevalence these infections is increasing significantly, the demand for hospital infection therapeutics is witnessing a substantial rise worldwide. Apart from this, the high susceptibility to infections among newborn babies in a healthcare setting is also fueling the application of hospital infection therapeutics across the world.
Inefficiency of Hospital Infection Therapeutics on Multi-drug Resistant Bacterial Strains to Limit Application
Though analysts predict the demand for hospital infection therapeutics to register a steady progress in the near future, a number of factors are likely to interrupt the growth trajectory. The main among them is the robust rise in the number of multi-drug resistant bacterial strains, on which the currently available antibacterial drugs are ineffective. The poor management of antibiotic resistance is leading to a decline in the adoption of hospital infection therapeutics, which is projected to impact negatively on the market’s growth in the long run.
The high unmet medical needs in low to medium income nations, however, is anticipated to present potential growth opportunities to market players. Economies in Southeast Asia and Sub-Saharan Africa demonstrate a high prevalence of hospital-acquired infections among newborns, which has affected the birth rate in these nations significantly. The infrastructural development of the medical and healthcare industry in these economies will also open new avenues for market’s progressions in the near future, states the report.
Demand for Hospital Infection Therapeutics to Witness Substantial Rise in Asia Pacific
North America led the demand for hospital infection therapeutics in 2013 with a share of 36.3% in the overall market. The high prevalence of nosocomial infections has been identified as the key factor that has been driving the demand for infection therapeutics in North America and is projected to continue to do so throughout the forecast period.
Although North America will remain the leading regional market for hospital infection therapeutics, it is Asia Pacific, which will present the most promising growth opportunities to this market in the near future. Analysts expect the region to record a substantial growth in its market size at a CAGR of 4.70% over the forecast period.
Based on infection, hospital-acquired pneumonia will remain the key contributor to the increasing adoption of hospital infection therapeutics over the next few years. Among drugs, antibacterial drugs will continue to register the leading demand in the years to come, notes the study.
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