(PharmaNewsWire.Com, December 14, 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%.
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.
Opportunity: Increasing consolidation in the healthcare industry
Currently, the healthcare industry is increasingly consolidating in the US, and large regional and national healthcare systems are expanding in size. In the US, the implementation of the PPACA in 2010 has mandated healthcare organizations in the country to use advanced healthcare IT tools, which, in turn, has increased the financial burden on healthcare organizations. The implementation of such healthcare reforms affects the profit margins of hospitals, doctors, and insurers. To control healthcare delivery costs, healthcare organizations in the US are increasing their patient base and optimizing the utilization of available resources. In this regard, consolidation is one of the most preferred strategies adopted by healthcare providers to increase their patient base and optimize resource utilization. According to the American Hospital Association Survey, 2019, of the nearly 5,200 hospitals in the US, approximately 65% are part of a bigger health system.
The software segment is accounted for the largest share of the infection surveillance solutions market in 2020
Based on product, the infection surveillance solutions market is segmented into infection surveillance software solutions and infection surveillance services. In 2020, the infection surveillance software segment accounted for the largest share of the infection surveillance solutions market. The large share of this segment can be attributed to the increasing need for preventing HAIs and the growing number of surgical procedures
The on-premise software 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. In 2020, the on-premise software segment accounted for the largest share of the infection surveillance software 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 services 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. In 2020, the product support and maintenance services segment accounted for the largest share of the infection surveillance services market. 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, gain support from its product support team, 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 infection surveillance solutions market is segmented into hospitals, long-term care facilities, and other end users. In 2020, the hospitals segment accounted for the largest share of the infection surveillance solutions market. 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.
North America accounted for the largest share of the infection surveillance solutions market in 2020
In 2020, North America accounted for the largest share of the infection surveillance solutions market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of this region can be attributed to factors such as the growing consolidation among healthcare providers, widespread adoption of healthcare IT solutions to curtail the rising healthcare costs, increasing incidence of HAIs, and the rising number of COVID-19 patients in the US. The presence of a large number of players in the region is also a key factor contributing to the large share of North America in the infection surveillance solutions market.
Key Market Players
The prominent players in the infection surveillance solutions market include 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).
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
