(Telecom-NewsWire.Net, November 05, 2019 ) According to a new market research report "Infection Surveillance Solutions Market by Product (Software (On Premise, Web Based), Services (Training & Consulting, Implementation) ), by End User (Hospitals, LTCs, Nursing Home, Skilled Nursing Facility, Assisted Living) - Global Forecast to 2021" published by MarketsandMarkets, The global market is expected to reach USD 508.8 Million by 2021. This market was valued at USD 262.7 Million in 2016 and is expected to grow at a CAGR of 14.1% from 2016 to 2021.
Market growth can be attributed to the increasing incidences of HAIs, government policies to prevent HAIs, increasing healthcare expenditure, and growth in number of surgeries. On the other hand, high costs of software, reluctance among medical professionals to adopt advanced healthcare tools, and dearth of skilled IT professionals in the healthcare industry are some restraints for market growth.
The Infection Surveillance Solutions Market is segmented based on product, end user, and region. Based on products, the market is segmented into software and services. The software segment is further segmented into on-premise and web-based software. Services are further divided into product support & maintenance, training & consulting, and implementation services. In 2015, the software segment accounted for the largest share of the Infection Surveillance Solutions Market. The services segment is expected to register the highest growth due to the higher adoption of infection surveillance software and its associated services in healthcare facilities.
By end user, the Infection Surveillance Solutions Market is segmented into hospitals and long-term care facilities. Hospitals are further subdivided into large, medium-sized, and small hospitals. Long-term care facilities are segmented into nursing homes, skilled nursing facilities, and assisted living facilities. In 2015, the large hospitals segment accounted for the largest share of the global Infection Surveillance Solutions Market for hospitals. The complexity of managing HAIs rises with the increase in the size of hospitals, as more patients need to be monitored at a time; this is the primary reason for the large share of this end-user segment.
The Infection Surveillance Solutions Market in the Asia-Pacific region is expected to offer significant growth opportunities for market players during the forecast period. Growth in this regional segment is majorly attributed to the rising incidences of HAIs, increased awareness and accessibility to advanced healthcare facilities, rising healthcare spending, and rapid improvements in the health insurance sector in this region.
The global Infection Surveillance Solutions Market is highly fragmented, with a large number of companies offering infection surveillance solutions. These key players include Becton, Dickinson and Company (U.S.), Premier Inc. (U.S.), Wolters Kluwer N.V. (Netherlands,), Baxter International Inc. (U.S.), GOJO Industries, Inc. (U.S.), Atlas Medical Software (U.S.), Deb Group Ltd (U.K.), Hygreen Inc. (U.S.), RL Solutions (Canada), and TRUVEN Health Analytics (U.S.).
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