Global Hospital Acquired Infections Testing Kits Market to Reach USD 1.8 Billion by 2026
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By LabMedica International staff writers Posted on 08 Apr 2022 |
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The global hospital acquired infections testing kits market is expected to grow at a CAGR of 12.7% from USD 1.12 billion in 2021 to USD 1.27 billion in 2022 and is projected to grow further at a CAGR of 8.8% to USD 1.78 billion in 2026, driven by increased incidence of chronic diseases. The rates of hospital acquired infection are higher among patients with increased susceptibility due to old age and underlying chronic diseases, such as COVID-19.
These are the latest findings of The Business Research Company (London, UK), a market intelligence firm.
The unprecedented coronavirus outbreak has caused a surge in the demand for hospital acquired infections testing kits, due to the rise in hospital acquired infections during the pandemic. The pandemic has raised enormous concerns over the quality of care in hospitals, due to the rising number of patients during COVID-19 and the change in staffing numbers. Multiple hospitals have experienced an increase in staffing levels, with traveling nurses reporting that these nurses were unfamiliar with hospital infection control processes. Such circumstances have made it difficult for hospitals to maintain patient safety and quality of care.
Increasing healthcare expenditure is predicted to drive a surge in the demand for hospital acquired infections testing kits. The growth in healthcare expenditure is aiding governments and organizations to spend more on prescription drugs, hospitals, and physical & clinical services, thereby driving the hospital acquired infections testing kits market. Consequently, the rise in healthcare spending will continue to drive an increase in the demand for hospital acquired infections testing kits in the near future.
Geographically, North America held the largest share of 36.2% of the global hospital acquired infections testing kits market in 2021, followed by the Asia-Pacific and other regions. Going forward, South America, Africa and the Middle East will be the world’s fastest-growing markets for hospital acquired infections testing kits with a CAGR of 9.3%, 8.8% and 8.8%, respectively, followed by the Asia Pacific and Western Europe.
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