DUBLIN--(BUSINESS WIRE)--The "Infection Control - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Infection Control Market to Reach US$62.3 Billion by the Year 2026
The market for infection control is expected to witness rapid growth in the coming years due to the rapidly growing incidence of HAIs (Hospital Acquired Infections) and rising number of surgeries. Healthcare Associated Infections (HAIs) constitute one of the leading causes of death globally and constitutes for nearly 100,000 deaths every year in the US alone.
Other market growth promoting factors include rising geriatric population, especially in developed countries, and increasing prevalence of chronic diseases. Market growth is also being positively influenced by the rising focus of nations on disinfection and sterilization. Pharmaceutical companies, medical device companies and hospitals are also increasingly outsourcing such sterilization jobs, which is also contributing to market growth.
The market is witnessing the development of advanced sterilization equipment in response to the advanced medical equipment being developed. Factors, such as increasing public and professional awareness, need for reducing healthcare costs, shifting of patient care from acute care to alternate sites, growth of less invasive surgical and diagnostic procedures, and the rising number of transmittable and antibiotic-resistant infectious diseases, have led to the increased demand for safe and efficient sterilization equipment.
Amid the COVID-19 crisis, the global market for Infection Control estimated at US$40.3 Billion in the year 2020, is projected to reach a revised size of US$62.3 Billion by 2026, growing at a CAGR of 7.2% over the analysis period. Protective Barriers, one of the segments analyzed in the report, is projected to grow at a 9.2% CAGR to reach US$26.1 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sterilization Products & Services segment is readjusted to a revised 7.2% CAGR for the next 7-year period. Growing demand for surgical drapes, gowns and face masks and such other medical nonwovens, amid the pandemic, has been contributing to growth of protective barriers.
The U.S. Market is Estimated at $12.9 Billion in 2021, While China is Forecast to Reach $9.2 Billion by 2026
The Infection Control market in the U.S. is estimated at US$12.9 Billion in the year 2021. The country currently accounts for a 27.5% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$9.2 Billion in the year 2026 trailing a CAGR of 8.8% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7% and 7.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR while Rest of European market (as defined in the study) will reach US$3.4 Billion by the end of the analysis period.
North America is the largest regional market for infection control attributed to increased adoption of disinfection and sterilization products and services and also increased focus of the population here on disease prevention and following healthy lifestyles.
Another lucrative market for infection control is Asia-pacific where increasing HAIs incidence, especially in fast emerging countries, is leading to increased adoption of disinfection and sterilization equipment and services.
Cleaning & Disinfection Products Segment to Reach $10.5 Billion by 2026
In the global Cleaning & Disinfection Products segment, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.9 Billion in the year 2020 will reach a projected size of US$8.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1 Billion by the year 2026.
Select Competitors (Total 145 Featured)
- 3M Company
- Advanced Sterilization Products
- Belimed AG
- Cantel Medical Corporation
- Ecolab, Inc.
- Getinge AB (Getinge Group)
- Halyard Health, Inc.
- Matachana Group
- Metrex Research LLC
- Pal International Ltd.
- Reckitt Benckiser Group PLC
- Sotera Health LLC
Key Topics Covered
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 and a Looming Global Recession
- The Never-Ending "Race" Between the Virus & Vaccines Continues. Amidst this Chaotic Battle, Where is the World Economy Heading Now & Beyond?
- Omicron Spreads Panic Worldwide; Omicron Variant Brings Back Memories & Fears of the Worst Part of the 2020 Pandemic
- South Africa: Omicron's Origin Location
- Short-term Impact of Omicron on Travel
- Financial Impact
- Scientists Seek to Gather More Information on Omicron
- Pharma Firms Aim to Improve Existing Vaccines to Counter Omicron
- Omicron: Impact on Travel Industry
- Steps taken by the Countries to Prevent Transmission of Omicron Variant
- With IMF Making an Upward Revision of Global GDP for 2021, Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
- Impact of COVID-19 on Infection Control Market
- Global Market Analysis and Prospects
- Product and End-use Segments
- Regional Market Analysis
- Market Growth Restraining Factors
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Sterilization Equipment Market Witnesses Rapid Growth
- Major Players in the Global Sterilization Equipment Market
- Low-Temperature Sterilization Gains Ground
- Leading Players in the Low-Temperature Sterilization Market
- Emergence of Outsourcing Trend Bodes Well for Sterilization Services
- E-beam Sterilization of Medical Devices Registers Rapid Growth
- Endoscope Contamination - A Major Health Hazard Driving the Demand for Sterilization Equipment
- Increasing Need to Reduce Hospital-Acquired Infections Propel Market Demand
- Government Support to Ensure Infection Control in Clinical Settings to Boost Demand for Infection Control Products
- Increasing Prevalence of Chronic Disorders, Rise in Surgical Procedures and the Need to Prevent Transmission of Infections Fuels Market Growth
- Aging Population - A Key Growth Driver
- Rising Demand for Medical Devices Augurs Well for the Market
- COVID-19 Pandemic Triggers the Onset of Face Mask Era
- Respirator Mask Records Significant Growth
- Designers Revamp Face Masks into a Fashion Accessory
- Surgical Drapes and Gowns: Indispensable for Safe Healthcare
- Surgical Gowns Market: Stable Growth Outlook
- High Demand for Disposable Drapes and Gowns
- COVID-19 Outbreak Resulted in Massive Spike in Disposable Gloves Market
- Growth in Medical Device Reprocessing to Offer New Areas of Growth
- UV Disinfection Soaks up Limelight with COVID-19-Induced Disinfection Focus
- Improving Healthcare Expenditure to Bode Well for Market Growth
- Technological Advancements
- India Focuses on Development of COVID-19 Relevant Technologies for Disinfection and Sterilization
- Sealive's Biovector Sterilization Technology for more Effective Inactivation of Viruses and Microorganisms
- Introduction of Business-Friendly Policies and Guidelines Fuel Demand for Eco-Friendly Medical Sterilization Equipment
- Challenges and Future Prospects
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 145
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