Albany, NY -- (SBWIRE) -- 03/20/2017 -- Transparency Market Research states that the global HAI treatment market will exhibit a moderate 2.7% CAGR from 2016 through 2024, rising from a valuation of US$28.99 bn in 2015 to US$36.61 bn in 2024.
The global market for hospital acquired infection (HAI) treatment features an exceedingly fragmented vendor landscape, with no leading vendor accounting for a dominant share in the market in 2015, observes Transparency Market Research in a recent report. Notable players in the market, including Merck & Co., Inc., Abbott, Bayer AG, and Pfizer, Inc., struggle for profitable returns amid the emerging threat of generics following patent expirations of several blockbuster drugs.
Although strict barriers in form of complex approval procedures and stringent regulatory framework in several regional markets exist, the market has witnessed the entry of a large number of new players in the past few years. The threat of new entrants remains high in the near future owing to the promising market for generics and a slew of new players is expected to enter the global HAI treatment market in the next few years, further intensifying the level of competition.
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North America Market to Retain Dominance
Of the key HAI treatment types examined in the report, the segment of antibacterial treatment takes the lead in terms of demand and consumption. The rising prevalence of hospital acquired bacterial infections across the globe is likely to allow the segment of antibacterial treatment retain its dominance in the global HAI treatment market over the forecast period.
From a geographical perspective, the global HAI treatment market is dominated by North America, followed by Europe. The regional market valued at US$10,272.70 mn in 2016 and is expected to retain its dominant position over the forecast period as well. The rapidly rising pool of geriatric patients and the presence of some of the world's leading pharmaceutical companies will allow the region to remain dominant.
Rising Geriatric Population and Increased Demand across Emerging Economies to Propel Market
Some of the chief factors that are presently driving the global demand for effective HAI treatments are the rising geriatric population and the increased focus on improving healthcare infrastructures in developing and less-developed economies. The geriatric population is more prone to a number of infections and are a demographic that account for a massive share in the overall expenditure on healthcare and wellness spent by any society.
The threat of developing nosocomial infections is significantly high in elderly people owing to their low immunity to diseases. Therefore, as the world's population ages, the demand for HAI treatment methods is also expected to rise at a significant pace in the next few years.
Rising Numbers of Multidrug Resistance Microorganisms Drive Demand for Alternative Treatments
One of the key factor hindering the growth of the global HAI treatment market is the steadily rising numbers of multidrug resistance (MDR) microorganisms that resist multiple antimicrobial drugs. Resistance to most available treatment methods and drugs is threatening the public health and pressuring the healthcare industry to find alternative treatments, restricting the adoption of standard nosocomial infection drugs to a notable extent.
Nevertheless, the market could benefit from the several drug candidates for treating hospital acquired infections that are presently in the pipelines of some of the leading pharmaceutical companies of the globe. The increasing focus on the rising prevalence of HAIs in emerging economies has generated vast untapped growth opportunities in the form of elderly population from the lower and middle income categories. These opportunities can prove to be beneficial for established players as well as new entrants in regions such as Asia Pacific and Latin America.
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