Albany, NY -- (SBWIRE) -- 01/14/2020 -- Transparency Market Research (TMR) has come out with a latest report on the global hospital acquired infections treatment market. The report, while extensively capturing the trends in this buzzing market, sheds light on the underlying currents that drive competition. The barrage of generic drugs making way to the market have fired up the marketing teams of branded drugs as sales take a hit. While venturing into strategies to garner HCPs prescription loyalty is one, companies in the global hospital acquired infection treatment market are also resorting to conventional strategies like cost-reduction.
At the same time, companies in the global hospital acquired infection treatment market are upping the ante in rolling out generic formulations of legacy molecules to seize potential of untapped regions. Having said that, the competition in the global market for hospital acquired infections treatment is highly fragmented and has several players trying to gain an edge over the others. Some of prominent names include Abbott, Bayer AG, Pfizer, Inc., and Merck & Co. Inc.
In the recent TMR report, analysts cite that the future for the global market for hospital acquired infections treatment market looks bright. The possibilities of new drugs will keep the market buoyant and TMR analysts predict that the global hospital acquired infections market will reach US$ 36.1 bn by the end of 2024.
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On the other hand, based on segments, the urinary tract sub-segment under infection type will propel growth in the market, say TMR analysts. Further, based on geography, Asia Pacific is expected to be the leading region in the coming years. The rising instances of hospital acquired infections in this region will surge demand for drugs in the global hospital acquired infection treatment market.
Rural and Urban Areas to Garner Growth
Hygiene and sanitation form the basis for hospital acquired infections. Having established that Asia Pacific will be the largest consumer of drugs in the global hospital acquired infections treatment market, it is important to understand the reasons behind it. A large portion of this geography is either under developed or is developing. Even the emerging and developed economies have a large rural population which is deprived of access to quality healthcare. As a result, the public healthcare segment is often burdened with hospital acquired infections while rendering treatment.
At the same time, the private establishments set up in urban areas too are subject to poor maintenance. With rising influx of patients who are predominantly migratory population, these hospitals are unable to manage the patient volume. This, often results in hospital acquired infections. These aspects will remain key for growth in the global hospital acquired infections market.
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Technology and Improving Infrastructure to Impact Demand
While rural and urban areas will continue to remain at the fore of demand in the global hospital acquired infections treatment market, it is important for companies to keep updated about the latest technology and improving healthcare infrastructure. Most developing economies have realized the loss incurred through diseases burden and its impact on the GDP. To control this, policy makers are rolling out measures that improve quality of healthcare, both at the public and private level.
As these policies bear fruit, the incidence of hospital acquired infections will come down in the coming days. This will directly impact the demand for drugs in the global hospital acquired infections treatment market. However, varying conditions and evolution in microbes will open new opportunities for research in the global hospital acquired infections treatment market.