TBRC's global hospital acquired infections testing kits market report goes over the various drivers which will lead to the market size reaching $1.8 Bn by 2026.
LONDON, April 7, 2022 /PRNewswire/ -- The hospital acquired infections testing kits market is expected to be driven by increased incidence rates of chronic diseases. The hospital acquired infection rates are higher among patients with increased susceptibility because of old age and underlying chronic diseases, such as COVID-19.
The global hospital acquired infections testing kits market size is expected to grow from $1.12 billion in 2021 to $1.27 billion in 2022 at a compound annual growth rate (CAGR) of 12.7%. The global hospital acquired infection testing kit market is expected to grow to $1.78 billion in 2026 at a CAGR of 8.8%.
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Regional Outlook Of The Hospital Acquired Infections Testing Kits Marke
North America has the largest hospital acquired infections testing kits market share, accounting for 36.2% of the total in 2021. It was followed by Asia-Pacific, and then the other regions. Going forward, the fastest-growing regions in the hospital acquired infections testing kits market will be South America, Africa and, Middle East where growth will be at CAGRs of 9.3%, 8.8% and 8.8% respectively. These will be followed by Asia Pacific, and Western Europe.
Rise in Healthcare Expenditure To Drive The Growth Of The Hospital Acquired Infections Testing Kits Marke
Increasing healthcare expenditure is predicted to upsurge the demand for the hospital acquired infections testing kits market. 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. According to the National Health Expenditure Projections for 2018-2027, national healthcare expenditure is expected to reach nearly $6.0 trillion by 2027 in the USA, growing at an average rate of 5.5% annually from 2018 to 2027. Consequently, as per TBRC's hospital acquired infections testing kits industry growth analysis, the rise in healthcare spending will increase the demand for hospital acquired infections testing kits in the near future.
COVID-19 Impact On The Market
The unprecedented outbreak of coronavirus has caused a surge in demand for hospital acquired infections testing kits, due to the rise in hospital acquired infections during the pandemic. The pandemic has raised enormous quality of care concerns 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's infection control processes. Such circumstances made it difficult for hospitals to maintain patient safety and quality of care. According to a U.S. Department of Health and Human Services report, one hospital in the US experienced an increase in central line infections during COVID-19, including life-threatening infections. COVID-19 patients usually experienced a lengthy stay in hospitals, making them more prone to hospital acquired infections.
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