According to a recent study by Future Market Insights (FMI), sales of infection prevention products are expected to top US$ 37.4 Bn in 2021, at a CAGR of over 4.2% during the forecast period (2021-2031).
Rising cases of infectious diseases caused due to the pathogenic organisms such as bacteria, fungi, viruses and other parasitic organism are improving the adoption of infection preventing products.
As reported by the Centre for Disease Control and Prevention (CDC) in 2018, infectious disease is the third most leading cause of death in the U.S. followed by other infectious diseases such as tuberculosis (9,025 cases), salmonella (60,99 cases), Lyme disease (33,666 cases), meningococcal disease (327 cases) and parasitic diseases (15.5 Mn cases).
Several other factors such as rising incidence of infections acquired while in hospital (often called as Hospital Acquired Infections or HAI), large number of surgical procedures, and increasing cases of chronic diseases among geriatric population have led to higher emphasis on maintaining proper hygiene and cleanliness.
Sudden outbreak of pandemic increased the number of patients in hospital during the FQ-20, elevating the risk of viral transmission amongst them. This in turn has created the demand for infection preventing and controlling options such as the use of hand sanitizers, disinfectants and other such products.
Increase in sales of these infection prevention products is expected to boost the infection prevention market growth in near future. The market registered spike in demand for infection preventive products, especially in emerging economies such as India.
As per Future Market Insights, the India infection prevention market registered highest growth across South Asia, reaching US$ 17.29 Bn in 2021.
Additionally, companies manufacturing infection prevention products have been focusing on developing eco- friendly and sustainable bio-based products with superior efficacy. Drive towards sustainability is expected to strengthen infection prevention market, creating worthwhile opportunities for growth.
Increasing ageing population worldwide has resulted in higher focus on proper hygiene and self-care solutions due to the rise in chronic diseases and onset of COVID-19. Furthermore, increase in consumer spending, improved healthcare infrastructure, rising government and industry investments in research and development activities will create demand for infection prevention product.
Based on the aforementioned factors, Future Market Insights (FMI) estimates that the market is expected to create absolute $ opportunity, exceeding more than US$ 56.39 Bn by 2031-end.
Key Takeaways from Infection Prevention Market Study
· By product, sterilization equipment is the most lucrative segment in terms of revenue and is anticipated to grow at a CAGR of more than 4.9% during 2021-2031.
· Based on end-user, hospitals and clinics segment is leading the market and expected to gain more than 42% of revenue share through 2031.
· The U.S. is expected to dominate the global infection prevention market in terms of revenue in 2021, followed by the U.K. and Germany.
· India is expected to be the most lucrative market in terms of revenue across South Asia, accounting for over 50% of market value share in 2021.
· China holds leading position in East Asia and is expected to account for nearly 48% of market share.
Who is Winning?
Some of the leading manufacturers of infection prevention products are focusing on new product development, clinical trials, speedy regulatory approvals, exclusive marketing and distribution licensing agreement strategies, thereby enhancing their market presence.
· In 2021, a new 3M™ Clean & Protect Certified Badge Program was launched by 3M company. A new comprehensive system designed for effective cleaning and disinfecting solution that cleans, monitors and protects the facilities.
· In July 2020, Reckitt Benckiser Group PLC in partnership with water.org made provisions for improved access to safe, clean water in Kenya. In the same month, the company received the EPA approval for the first surface disinfectant products tested on the SARS-COV-2 virus.
· In 2021, Metrex collaborated with Solvay for chemical resistance testing of widely-used disinfectants in healthcare settings.
The key market players covered by FMI include Cantel Medical, Getinge AB, STERIS, ASP (Advanced sterilization Products), Sotera Health, 3M, Ecolab, Halyard Worldwide, Inc. (Halyard health), Matachana Group, Belimed, Inc., Pal International, Reckitt Benckiser Group PLC., Metrex Research, LLC., Terumo Corporation, Ahlstrom Munksjo and Ansell Ltd.
For More Information: https://www.futuremarketinsights.com/reports/infection-prevention-market