The global Infection Surveillance Solutions Market is projected to reach USD 1,100 million by 2027 from USD 577 million in 2022, at a CAGR of 13.8% during the forecast period. Growth in this market is predominantly driven by the increasing prevalence of hospital-acquired infections and new Medicare policies, including non-payment for hospital-acquired conditions. The rising number of surgeries, the growing geriatric population, the increasing incidence of chronic diseases, and increasing adoption of antimicrobial stewardship programs are the other factors driving the growth of this market. However, data breaches, and lack of skilled analysts are expected to hamper the growth of this market during the forecast period to a certain extent.
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Opportunities: Emerging Markets
The infection surveillance solutions market is expected to experience significant growth opportunities in countries with emerging economies such as India, China, Brazil, Russia, and countries in Latin America and Southeast Asia. This is due to the fact that these regions are home to a large portion of the world’s population, with over half residing in India and China. Additionally, factors such as public demand for better quality hospital care, the rise in costs associated with healthcare-associated infections (HAIs), the emergence of multi-drug-resistant microorganisms, and government initiatives are contributing to the growth of the market in these countries.
With the growth in per capita income, increasing healthcare awareness, a growing number of hospitals and clinics, and a vast patient population, the demand for better healthcare services has increased in these countries. Also, emerging economies in the APAC present lucrative investment opportunities for multinational healthcare IT companies to offshore their business operations to these markets. Expansions in emerging markets are driving the adoption of infection control technologies in the medical device manufacturing industry in these countries, thereby providing opportunities for market growth.
Challenges: Data security concerns
The growing reliance on networking and automated technologies (EHR) and the shifting trend toward healthcare integration and health information exchanges have helped expand the healthcare privacy and security landscape. The electronic exchange of patient data offers greater reach and efficiency in healthcare delivery; however, issues related to data loss and liability due to broader access are associated with the electronic exchange of patient data.
Wide patient information exchanges lead to privacy and security risks and increase the chances of data breaches. In healthcare, approximately one-third of data breaches result in medical identity theft, mainly due to a lack of internal control over patient information, outdated policies, procedures (or nonadherence to existing ones), and inadequate personnel training. In the US, the Identity Theft Resource Center reported that the healthcare industry had the second-largest number of data breaches in 2019, along with the highest exposure rate per breach.
Data collected from various sources are transferred or directly entered into infection surveillance platforms. Creating a secure communication platform is a major challenge faced by healthcare IT vendors catering to the healthcare industry. Potential security concerns related to HCIT systems in healthcare organizations may lead to a sense of insecurity among users, restraining the adoption of HCIT solutions, including infection surveillance solutions, across the globe.
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Asia Pacific region is expected to register the highest CAGR in the infection surveillance solutions market during the forecast period
The Asia Pacific market is expected to witness the highest growth from 2022 to 2027. There is a growing need to implement and integrate medical devices and HCIT solutions in Asia to provide patients with cost-effective and quality clinical care. As a result, many global HCIT companies are investing in the Asian market to capitalize on the growing opportunities. The growing patient volume and the rising need for accurate and timely tracking and monitoring of diseases will fuel the growth of the infection surveillance solutions market in Asia Pacific.
Mr. Aashish Mehra
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