The global Infection Surveillance Solutions Market is projected to reach USD 1,100 million by 2027 from USD 577 million in 2022, at a CAGR of 13.8% during the forecast period. Growth in this market is predominantly driven by the increasing prevalence of hospital-acquired infections and new Medicare policies, including non-payment for hospital-acquired conditions. The rising number of surgeries, the growing geriatric population, the increasing incidence of chronic diseases, and increasing adoption of antimicrobial stewardship programs are the other factors driving the growth of this market. However, data breaches, and lack of skilled analysts are expected to hamper the growth of this market during the forecast period to a certain extent.
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Opportunities: Emerging Markets
The infection surveillance solutions market is expected to experience significant growth opportunities in countries with emerging economies such as India, China, Brazil, Russia, and countries in Latin America and Southeast Asia. This is due to the fact that these regions are home to a large portion of the world’s population, with over half residing in India and China. Additionally, factors such as public demand for better quality hospital care, the rise in costs associated with healthcare-associated infections (HAIs), the emergence of multi-drug-resistant microorganisms, and government initiatives are contributing to the growth of the market in these countries.
Challenges: Data security concerns
The growing reliance on networking and automated technologies (EHR) and the shifting trend toward healthcare integration and health information exchanges have helped expand the healthcare privacy and security landscape. The electronic exchange of patient data offers greater reach and efficiency in healthcare delivery; however, issues related to data loss and liability due to broader access are associated with the electronic exchange of patient data.
Wide patient information exchanges lead to privacy and security risks and increase the chances of data breaches. In healthcare, approximately one-third of data breaches result in medical identity theft, mainly due to a lack of internal control over patient information, outdated policies, procedures (or nonadherence to existing ones), and inadequate personnel training. In the US, the Identity Theft Resource Center reported that the healthcare industry had the second-largest number of data breaches in 2019, along with the highest exposure rate per breach.
Prominent players in the global infection surveillance solutions market include Becton, Dickinson and Company (US), Premier, Inc. (US), Wolters Kluwer N.V. (Netherlands), Cerner Corporation (US), Baxter International Inc. (US), GOJO Industries, Inc. (US), Clinisys (US), Deb Group Ltd. (UK), BioVigil Healthcare Systems (US), RLDatix (UK), Merative (US), Vecna Technologies, Inc. (US), VigiLanz Corporation (US), Ecolab (US), Harris Healthcare (US), PeraHealth (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).
These companies adopted strategies such as product launches/enhancements, expansions, agreements, partnerships, collaborations, sales contracts, investments, joint ventures, and acquisitions to strengthen their market presence in the infection surveillance solutions market. Recently, new smaller competitors have emerged from niche markets and are challenging larger companies by offering lower prices and technological advancements. To remain competitive, major market players are focusing on expanding into fast-growing emerging markets and acquiring smaller companies with favorable technological capabilities or geographic presence.
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Asia Pacific region is expected to register the highest CAGR in the infection surveillance solutions market during the forecast period
The Asia Pacific market is expected to witness the highest growth from 2022 to 2027. There is a growing need to implement and integrate medical devices and HCIT solutions in Asia to provide patients with cost-effective and quality clinical care. As a result, many global HCIT companies are investing in the Asian market to capitalize on the growing opportunities. The growing patient volume and the rising need for accurate and timely tracking and monitoring of diseases will fuel the growth of the infection surveillance solutions market in Asia Pacific.
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