Hospital-Acquired Infection Diagnostics Market to Reach $4,386.6 Million by 2023: P&S Market Research

NEW YORK, March 21, 2018 (GLOBE NEWSWIRE) -- According to the new research report published by P&S Market Research, Hospital-acquired infection diagnostics market is forecasted to reach $4,386.6 million by 2023, growing at a CAGR of 7.6% during 2017–2023, the growth in the market will be led by the increase in incidences of infections caused in clinical settings, especially in developing economies owing to their poor hygiene facilities.

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On the basis of test type, the HAI diagnostics industry has been categorized molecular diagnostics, urinalysis, and immunoassay. Due to the high prevalence rate of HAI such as, bloodstream infections, surgical site infections, gastrointestinal Infections, and urinary tract infections (UTI), the immunoassay segment was the highest contributor accounting for $1,195.0 million in 2016 and is expected to reach $1,686.2 million by 2023.

In terms of product, the HAI diagnostics market has been categorized into instrument and reagents and consumables. The reagents and consumables dominated the market in 2016 with a share of 63.1%. The rise in the number of patients suffering from various infectious diseases such as bloodstream infections, surgical site infections, gastrointestinal infections, urinary tract infections (UTI), which increases the demand for reagents & consumables with growth in molecular diagnostic testing volumes. It is also expected to maintain the same trend throughout the forecast period, registering a high CAGR of 8.0% during 2017-2023.

The HAI diagnostics market based on application is segmented into disease testing and drug-resistance testing. The drug-resistance testing application dominated the market with 79.8% share in 2016 and is expected to maintain the same trend throughout the forecast period.

The HAI diagnostics market in North America was the highest contributor accounting for $1,022.9 million in 2016, attributed to the increase in geriatric population. Adoption of advance HAI diagnostics techniques for disease diagnosis also provides opportunity for the growth of the market in North America.

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Key players in the HAI diagnostics industry are acquiring other players, to gain a larger market share. For instance, in October 2017, Abbott Laboratories intends to close the acquisition of Alere Inc. The announcement follows receipt of all regulatory clearances necessary for closing. The acquisition is intended to expand Abbott Laboratories global point of care testing portfolio. Similarly, in April 2017, Becton, Dickinson and Company announced the acquisition of Caesarea Medical Electronics, an Israel based global infusion pump systems manufacturer. The acquisition would expand Infusion Portfolio for ambulatory, home care and specialty applications.

Some of the other key players operating in the HAI diagnostics market are AstraZeneca plc, Bayer AG, Daiichi Sankyo Co. Ltd., Danaher Corporation, Hologic Inc., Johnson & Johnson, OpGen Inc., and F. Hoffmann-La Roche AG.

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