(PharmaNewsWire.Com, January 06, 2021 ) According to the new market research report "Infection Surveillance Solutions Market by Product (Software (On Premise, Web Based), Services (Training & Consulting, Implementation)), End User (Hospitals, LTCs, Nursing Home, Skilled Nursing Facility, Assisted Living) - Global Forecast" published by MarketsandMarkets™.
The global infection surveillance solutions market is projected to reach USD 508.8 Million, at a CAGR of 14.1%
The growth strategies adopted by the major players in the global infection surveillance solutions market include partnerships, agreements & collaborations; product enhancements and new product launches; acquisitions; and expansions. A majority of the top market players adopted partnerships, agreements, & collaborations as their key growth strategies.
Growth Boosting Factors:
# Increasing Incidence of Hais
# Government Policies for Preventing Hais
# Increasing Healthcare Expenditure
# Increasing Number of Surgeries
# High Growth in Developing Counties Across APAC and Latin America
Based on products, the market is segmented into software and services. The software segment is further segmented into on-premise and web-based software. Services are further divided into product support & maintenance, training & consulting, and implementation services. In 2015, the software segment accounted for the largest share of the infection surveillance solutions market. The services segment is expected to register the highest growth due to the higher adoption of infection surveillance software and its associated services in healthcare facilities.
By end user, the infection surveillance solutions market is segmented into hospitals and long-term care facilities. Hospitals are further subdivided into large, medium-sized, and small hospitals. Long-term care facilities are segmented into nursing homes, skilled nursing facilities, and assisted living facilities. In 2015, the large hospitals segment accounted for the largest share of the global infection surveillance solutions market for hospitals. The complexity of managing HAIs rises with the increase in the size of hospitals, as more patients need to be monitored at a time; this is the primary reason for the large share of this end-user segment.
Players in the global infection surveillance solutions market have implemented various strategies to expand their global footprints and increase their market shares. Some of the key strategies adopted by market players include new product launches and enhancements of existing products; expansions; acquisitions; and partnerships, agreements, and collaborations. Becton, Dickinson and Company (U.S.), Premier Inc. (U.S.), Wolters Kluwer N.V. (Netherlands,), Baxter International Inc. (U.S.), GOJO Industries, Inc. (U.S.) were the leading market players in 2015.
Becton, Dickinson and Company (U.S.) is a market leader owing to its strong portfolio of infection surveillance solutions. The company has a substantial geographic footprint with strong sales and distribution networks. It invests considerably in R&D activities to add innovative technologies and products to its portfolio. The company focuses on acquisitions of small global and regional companies, which in turn helps it to strengthen its presence in this market. In March 2015, the company completed the acquisition of CareFusion Corporation (U.S.). This acquisition significantly enhanced BD’s infection prevention, medication management, and patient safety products portfolio.
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