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The global Infection Surveillance Solutions Market is estimated to be valued at US$ 683.8 Mn in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Infection surveillance solutions refer to a combination of software and services that enable healthcare facilities to effectively monitor, track, and prevent the spread of hospital-acquired infections. These solutions help identify infectious pathogens, analyze infection trends, determine appropriate treatment protocols, and improve clinical outcomes. Advanced tools that leverage artificial intelligence and predictive analytics are gaining popularity as they can automate routine tasks, generate early warnings, and provide actionable insights to clinical staff.
Market key trends:
One of the key trends in the infection surveillance solutions market is the rising adoption of artificial intelligence and predictive analytics. Vendors are augmenting their platforms with AI capabilities to strengthen surveillance programs. AI aids in automating mundane tasks like data extraction from electronic health records and alerts, scanning clinical notes for symptomatic terms, and identifying at-risk patients. It also facilitates predictive modeling to foresee infection outbreaks and analyze past trends. This streamlines workflow and allows clinicians to focus on high-risk cases. Furthermore, self-learning algorithms continue to improve over time with the availability of more comprehensive historical and real-time data. The enhanced accuracy and timeliness delivered by AI-powered tools is expected to further drive their adoption among healthcare facilities.
Porter’s Analysis
Threat of new entrants: Low startup costs and availability of suppliers lower the barriers to entry in this market. However, established key players dominate the market making it difficult for new players to gain significance.
Bargaining power of buyers: The bargaining power of buyers is moderate. The availability of alternatives provides options to buyers, thereby placing downward pressure on prices.
Bargaining power of suppliers: A few major suppliers cater to the demands of this market. This provides them moderate bargaining power over market players.
Threat of new substitutes: Substitutes pose a low-to-moderate threat as there are limited direct substitutes for infection surveillance solutions.
Competitive rivalry: The market is highly competitive with presence of large multinational corporations. Companies differentiate their product offerings through continuous innovation and service.
Key Takeaways
The global Infection Surveillance Solutions Market is expected to witness high growth, exhibiting a CAGR of 14% over the forecast period, due to increasing prevalence of hospital acquired infections and growing need for improved patient safety and healthcare quality.
North America is expected to dominate the infection surveillance solutions market during the forecast period. Factors such as mandatory hospital regulations regarding patient safety, increase in HAIs and implementation of infection control programs are driving the growth of the market in the region. Asia Pacific region is anticipated to grow at the fastest rate owing to rising healthcare expenditure and growing concerns over HAIs.
Key players operating in the infection surveillance solutions market are Baxter, BD, STERIS, Getinge AB, Medtronic, Koninklijke Philips N.V., Abbott, Medexter Healthcare, Asolva, GOJO Industries, Inc., Wolters Kluwer N.V., VigiLanz Corporation, RLDatix, Roper Technologies Inc., Health Outcomes Worldwide, OpGen, Inc., Urovant Sciences and Premier. These major players are focusing on mergers and acquisitions to expand their presence and enhance product portfolio.
