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Jan 04, 2022, 10:50 ET
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SAN FRANCISCO, Jan. 4, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Infection Control – Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 10; Released: December 2021
Executive Pool: 3504
Companies: 145 – Players covered include 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; Steris and Others.
Coverage: All major geographies and key segments
Segments: Products & Services (Protective Barriers, Sterilization Products & Services, Cleaning & Disinfection Products, Endoscope Reprocessing Products, Other Products & Services); End-Use (Hospitals & Clinics, Pharma & Medical Device Companies, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Infection Control Market to Reach US$62.3 Billion by the Year 2026
Infection control plays a critical role in activities related to sterile processing of devices, in addition to disposal and decontamination of potentially infectious bio-hazardous waste. 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. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Global Industry Analysts, Inc.
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‘This too shall pass away’ this famous Persian adage seems to be defeating us again and again in the case of COVID-19. Despite every effort