Global Infection Surveillance Solutions Market Size By Product (Software, Services), By End User (Hospitals, Long Term Care), By Geographic Scope And Forecast
Published on: 2024-08-02 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Infection Surveillance Solutions Market Size By Product (Software, Services), By End User (Hospitals, Long Term Care), By Geographic Scope And Forecast
Infection Surveillance Solutions Market Size and Forecast
Infection Surveillance Solutions Market size was valued at USD 624.45 Million in 2023 and is projected to reach USD 1719.76 Million By 2031, growing at a CAGR of 13.50% during the forecast period 2024 to 2031.
An increase in the incidence of HAIs, growth in the number of surgeries, the introduction of government protocols for the prevention of HAIs, rise in global healthcare expenditure, ease of use of the software system, and improvements in the healthcare insurance sectors are among the major factors driving the growth of the Global Infection Surveillance Solutions Market. The Global Infection Surveillance Solutions Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Infection Surveillance Solutions Market Drivers
The market drivers for the Infection Surveillance Solutions Market can be influenced by various factors. These may include
- Growing Rate of Infections Associated with Healthcare (HAIs) Healthcare establishments around the world are very concerned about HAIs. The need for efficient surveillance systems to track, stop, and manage infection outbreaks in hospitals and other healthcare settings is fueled by the increasing frequency of infectious illnesses.
- Increasing Healthcare Expenditure More money is being allocated to enhancing infection control measures as public and private sectors make larger investments in healthcare infrastructure and technologies. Adopting cutting-edge infection surveillance systems is one way to improve patient safety and care quality.
- Strict Guidelines and Regulation Requirements Strict rules for infection management and reporting have been created by regulatory authorities such as the World Health Organisation (WHO) and the Centres for Disease management and Prevention (CDC). Strong infection surveillance systems must be put in place in order to comply with these laws.
- Technological developments More complex and effective infection monitoring systems have been created as a result of developments in information technology, data analytics, and machine learning. By enabling real-time monitoring, predictive analytics, and improved data integration, these technologies increase the efficacy of infection control.
- Growing Initiatives and Awareness for Infection Control The adoption of surveillance systems is being propelled by a greater understanding among patients and healthcare professionals of the significance of infection prevention and control. The expansion of the industry is also aided by several campaigns and efforts launched by health organisations to encourage infection control procedures.
- Growing Prevalence of Chronic Illnesses and Ageing Population An ageing world population and an increasing prevalence of chronic illnesses lead to a rise in hospital admissions and lengthier stays, which raises the risk of infections. In order to successfully manage and mitigate infection risks, infection surveillance systems must be put in place.
- Economic Impact of Infections Long-term hospital stays, extra treatments, and legal liability are the main causes of increased healthcare expenses associated with HAIs. By facilitating early identification and intervention, infection monitoring systems contribute to lower healthcare costs by increasing overall healthcare efficiency and cost control.
- Hospital Information Systems (HIS) and Electronic Health Records (EHRs) Adoption The integration of infection surveillance solutions is made easier by the widespread use of HIS and EHRs. These integrated solutions facilitate smooth data exchange and thorough data monitoring linked to infections among medical facilities.
- Antimicrobial Resistance (AMR) Emergence The development of AMR is a serious obstacle to infection management. In order to address antimicrobial resistance (AMR), infection surveillance tools are essential for monitoring resistant strains and directing the proper use of antibiotics.
- Emerging Infectious Disease Outbreaks The need for strong infection surveillance systems has been brought to light by the emergence of outbreaks like COVID-19. These incidents increase the need for cutting-edge systems that can deliver data and insights in real-time to efficiently control and contain infectious diseases
Global Infection Surveillance Solutions Market Restraints
Several factors can act as restraints or challenges for the Infection Surveillance Solutions Market. These may include
- High Implementation Costs The initial outlay for hardware, software, and training necessary for infection surveillance systems can be significant. These prices might be too high for many healthcare facilities, especially in underdeveloped nations, which would prevent broad implementation.
- Absence of Skilled Professionals Data analytics, IT management, and infection control experts are necessary for the efficient use of infection surveillance systems. The application and effective use of these solutions may be seriously hampered by the lack of such experience.
- Complexity and Integration Problems It can be difficult to integrate infection monitoring systems with the current healthcare IT infrastructure, including hospital information systems (HIS) and electronic health records (EHRs). Problems with compatibility and interoperability can make integration more difficult, which can cause delays and extra expenses.
- Data Security and Privacy Issues There are serious privacy and security issues while handling sensitive patient data. It can be difficult to ensure compliance with strict data protection laws like GDPR and HIPAA, which may discourage certain healthcare institutions from implementing these solutions.
- Adoption and Resistance to Change In settings where employees are used to manual procedures, healthcare providers may exhibit resistance to altering established workflows and practices. The implementation of automated infection surveillance systems may be slowed down by this opposition.
- Variable Data Quality The correctness and quality of the data entered determines how successful infection surveillance programmes are. The consistency of these systems can be compromised by inconsistent or low-quality data, which can produce erroneous surveillance results.
- Limited Knowledge in poor Areas Knowledge of the advantages of infection surveillance systems may be lacking in poor nations. Furthermore, these regions’ lack of financial resources and infrastructure may hinder market expansion.
- Regulatory and Compliance Difficulties It might be difficult to navigate the complicated regulatory environment for IT solutions for healthcare. It takes a lot of work and resources to make sure infection surveillance systems abide by different local, national, and international rules.
- Costs associated with maintenance and upgrades To keep infection surveillance systems current and operational, constant maintenance and upkeep are required. Healthcare facilities may find these ongoing expenses burdensome, especially those with tight budgets.
- Financial Restraints Investment in innovative technology may be impacted by financial restraints and economic downturns in the healthcare industry. Healthcare facilities may decide to put other priorities ahead of infection surveillance systems as a result of budget reduction and financial strain.
Global Infection Surveillance Solutions Market Segmentation Analysis
The Global Infection Surveillance Solutions Market is segmented on the basis of Product, End User, and Geography.
Infection Surveillance Solutions Market, By Product
- Software
- Service
Based on Product, The market is bifurcated into Software and Services. The software segment held the largest share of the market in 2015, primarily due to the higher adoption of infection surveillance software by healthcare facilities. The advantages of cloud-based software over on-premise software, such as availability in various configurations, quick return on investment, and real-time analysis, are driving the rise of the sub-segment.
Infection Surveillance Solutions Market, By End User
- Hospitals
- Long term care
Based on End User, The market is bifurcated into Hospitals and Long term care. Hospitals are the largest End Users of infection surveillance solutions that are followed by other long-term care facilities. Hospitals are further subdivided based on bed size into large, medium-sized, as well as small hospitals. The larger percentage of hospitals can be attributed to their ability to effectively manage HAI treatment since more patients can be monitored within the allotted period due to an increase in the surgery rate.
Infection Surveillance Solutions Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Geography, The Global Infection Surveillance Solutions Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia-Pacific area has the fastest-growing market for infection surveillance solutions. The rising rates of HAIs, improved knowledge and accessibility to modern healthcare facilities, rising healthcare spending, and significant advancements in the health insurance sector in APAC countries are all contributing to the market’s strong growth rate.
Key Players
The “Global Infection Surveillance Solutions Market” study report will provide valuable insight with an emphasis on the global market including some of the major players in the market are Becton, Dikinson and Company, Premier Inc., Wolters Kluwer N.V., Baxter International Inc., Gojo Industries, Inc., RL Solutions, Truven Health Analytics (An IBM Company), DEB Group Ltd., Hygreen, Inc., Atlas Medical Software.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Report Scope
Report Attributes | Details |
---|---|
Study Period | 2020-2031 |
Base Year | 2023 |
Forecast Period | 2024-2031 |
Historical Period | 2020-2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Becton, Dikinson and Company, Premier Inc., Wolters Kluwer N.V., Baxter International Inc., Gojo Industries, Inc., RL Solutions, Truven Health Analytics (An IBM Company). |
Segments Covered |
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Customization scope | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Market Research
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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