Transparency Market Research Report Added "Hospital Acquired Disease Testing Market" to its database.
Albany, NY -- (SBWIRE) -- 01/26/2016 -- The United States Centers for Disease Control and Prevention (CDC) conducted a survey in 2011 in several hospitals across the country to assess the severity of hospital-acquired infections (HAI) and diseases, also known as nosocomial infection or healthcare-associated infection. The survey found that an estimated one in every 25 hospital patients was suffering from at least one form of hospital-acquired disease on any given day. In 2011 alone, approximately 75,000 patients in the US died from hospital-acquired infections while being hospitalized, with an estimated 722,000 new cases of HAI reported in acute care hospitals.
The hospital-acquired disease testing market is anticipated to witness impressive growth over the coming years. HAIs are a rather serious threat to patient safety and more often than not, these infections can be prevented if appropriate measures are taken in advance. Advancement in hospital care as well as public health, in addition to increased awareness among patients and healthcare providers alike, has fueled the demand for hospital-acquired disease testing.
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Performance of Hospital-Acquired Disease Testing Market over the Years
According to Transparency Market Research, the global hospital-acquired disease testing market is projected to present a remarkable 19.90% CAGR from 2015 to 2023, rising from a value of US$0.4 bn in 2014 to US$2 bn in 2023. The most prominent players competing in the global hospital-acquired disease testing market include Cepheid, Inc., bioMérieux SA, Hologic, Inc., Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, Abbott Laboratories, QIAGEN, Siemens Healthcare, Meridian Bioscience, Inc., Alere, Inc., Diatherix Laboratories, Inc., and F. Hoffmann-La Roche Ltd.
The hospital-acquired disease testing market has, over the years, been fueled by the rising prevalence of nosocomial infections, increase in the number of drug-resistant pathogens, establishment and implementation of government guidelines to prevent the spread of hospital-acquired infections, technological development in the field of molecular diagnostics, surge in awareness among the general population, rise in geriatric and neonatal population, and need to control healthcare expenditure. The passing of the Patient Care and Affordable Care Act in the United States is especially significant in the development of the hospital-acquired disease testing market. However, lack of effective programs, guidelines, and framework in less-developed regions threatens to impede the overall market.
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North America Dominates Worldwide Market for Hospital-Acquired Disease Testing
The global hospital-acquired disease testing market comprises five key regional segments: Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa. In 2014, North America dominated the overall market, followed by Europe. The hospital-acquired disease testing markets in these developed regions are primarily fueled by strong and effective government initiatives designed to prevent and control the spread of hospital-acquired infections. These steps are rigorously implemented in order to bring down the disease morbidity rate and ensuring maximum patient safety.
The most lucrative market for hospital-acquired disease testing, on the other hand, is Asia Pacific. The incidence rate of hospital-acquired infections in countries such as India and China is considerably high, hiking healthcare expenditure not just for the patient but for the healthcare institutions as well. The growing need to reduce these costs, accompanied by rise in awareness and growth of medical tourism is greatly responsible for the future development of the Asia Pacific hospital-acquired disease testing market.
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About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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