Asia-Pacific region is expected to register the highest CAGR in the infection surveillance solutions market
Northbrook, IL -- (SBWIRE) -- 09/22/2021 -- According to the new market research report "Infection Surveillance Solutions Market by Software (Cloud-based), Service (Product Support, Maintenance, Implementation), End User (Hospitals (Large, Medium-Sized, Small Hospitals) Long-Term Care Facilities), COVID-19 Impact - Global Forecast to 2026", published by MarketsandMarkets™, the Infection Surveillance Solutions Market is projected to reach USD 1,033 million by 2026 from USD 508 million in 2021, at a CAGR of 15.2%.
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The Growth in this market is majorly driven by the increasing prevalence of hospital acquired infections, growing geriatric opulation and chronic diseases. The rising healthcare expenditure, increasing number of surgeries, growing geriatric population, and the increasing incidence of chronic diseases are the other factors driving the growth of this market. Currently, with the surge in COVID-19 cases, there is an increased focus on personal hygiene, coupled with the need to track and monitor the spread of COVID-19 infection. This is further expected to drive the market growth during the forecast period.
The overall growth of various sectors has been heavily impacted by COVID-19, specifically in countries with a high incidence rate of COVID-19, such as India, China, Brazil, the US, and several European countries (including Russia, Italy, and Spain). While industries such as oil and petroleum, aeronautics, and mining are experiencing a steep fall in revenues, the healthcare, biotechnology, and pharmaceutical industries are optimizing this situation to serve a maximum number of patients and healthcare professionals.
The pandemic has led to a significant increase in the demand for infection control and monitoring solutions. COVID-19 has led to a significant surge in demand for infection surveillance solutions for monitoring and preventing the infection spread, both in the hospital and long-term care facilities, and manufacturers are increasingly focusing on expanding their portfolios to meet the increasing need for infection surveillance solutions across various sectors including the public health sectors. However, the demand and adoption of infection surveillance solutions have been constant throughout the year, and the trend has continued well in the first half of 2021. The pandemic has sparked a sudden interest in health IT solutions such as software solutions for effective and faster infection control and prevention, with the major adoption being witnessed in hospital settings.
The infection surveillance software segment accounted for the largest share of the infection surveillance solutions market in 2020
Based on product and services, the Infection surveillance software market is segmented into software and services. The infection surveillance software segment accounted for the largest share of the market. The large share of this segment can be attributed to the increasing need for preventing HAIs and the growing number of surgical procedures.
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The on-premise segment accounted for the largest share of the infection surveillance solutions market in 2020
Based on type, the infection surveillance software market is segmented into on-premise and web-based software. The on-premise software segment accounted for the largest share of the market. The large share of this segment is mainly attributed to the need for maintaining access to healthcare IT solutions and reduce the risk of data breaches & external attacks.
The product support and maintenance segment accounted for the largest share of the infection surveillance solutions market in 2020
Based on type, the infection surveillance services market is segmented into product support and maintenance services, training and consulting services, and implementation services. The product support and maintenance services segment accounted for the largest share of the infection surveillance services market in 2020. Product support and maintenance services take care of interoperability and software complexity issues. These services ensure that clients (healthcare providers) obtain access to the vendor company's technical knowledge base and acquire application management skills. These factors are driving the growth of the product support and maintenance services segment
The hospitals segment accounted for the largest share of the infection surveillance solutions market in 2020
Based on end user, the market is segmented into hospitals, long-term care facilities, and other end users. The hospitals segment accounted for the largest share of the market in 2020. The large share of this segment can be attributed to the large patient volume, the increasing incidence of HAIs, and the increasing cases of SSIs. The COVID-19 pandemic has also increased the adoption of infection surveillance solutions in hospitals.
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The APAC market is expected to grow at the highest CAGR from 2021 to 2026. This can be attributed to factors such as growing consolidation among healthcare providers, widespread adoption and demand for healthcare IT solutions to curtail the rising healthcare costs, rising number of coronavirus patients in the region, and stringent regulations and guidelines laid down by the various government and non-government authorities on infection control and prevention practices and the rising COVID-19 cases in the region.
The prominent players in the global infection surveillance solutions market are Becton, Dickinson and Company (US), Premier International, Inc. (US), Wolters Kluwer N.V. (Netherlands), Cerner Corporation (US), Baxter International Inc. (US), GOJO Industries, Inc. (US), Sunquest (US), Deb Group Ltd. (UK), BioVigil Healthcare Systems (US), RLDatix (UK), IBM Corporation (US), Vecna Technologies, Inc. (US), VigiLanz Corporation (US), Ecolab Inc. (US), Harris Healthcare (US), PeraHealth Inc. (US), Medexter Healthcare (Austria), CenTrak, Inc. (US), bioMerieux SA (France), CKM Healthcare (Canada), Asolva Inc. (US), PointClickCare (Canada), STANLEY Healthcare (US), Vitalacy Inc. (US), and Vizzia Technologies (US).