It generated a $2,657.6 million revenue in 2016, and is expected to grow at a 7.6% CAGR during the forecast period (2017–2023). HAIs, also known as nosocomial infections, are caught on during hospitalization at nursing homes, hospitals, outpatient clinics, rehabilitation centers, and other clinical settings.
The development of technologically advanced products is one of the key driving factors for the HAI diagnostics market. Advancements in technology have resulted in the development of products that offer low turnaround time and reliable results. This has resulted in the development of molecular diagnostics as a separate niche, which is attracting many companies to invest in it. For instance, the cobas Liat PCR system with four assays was launched by Roche Diagnostics in 2017, which can conduct a 20-minute real-time PCR nucleic acid test for Clostridium difficile detection.
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The HAI diagnostics market is segmented by end user, product, region, test type, infection type, and application. Based on infection type, the classifications are hospital-acquired pneumonia, urinary tract infections (UTI), gastrointestinal infections, surgical site infections, and bloodstream infections. The UTI classification garnered the highest revenue of $829.0 million in 2017, and is expected to generate a revenue of $1,337.1 million by 2023. The Centers for Disease Control and Prevention mentioned that of all the cases of hospital-acquired UTIs, about 75.0% are associated with a urinary catheter.
The categories of the test type segment of the HAI diagnostics market are urinalysis, molecular diagnostics, and immunoassay. During the forecast period, the molecular diagnostics category is expected to grow the fastest, at a 12.9% CAGR. This is attributed to the increasing awareness and acceptance of personalized medicine, rising infectious disease prevalence, and growing research on biomarker identification techniques. Emerging economies are also adopting molecular diagnostics, thereby presenting the market an amazing opportunity for growth.
Therefore, the market is set to advance in the forecast period due to technological advancements, growing geriatric population, and rising prevalence of HAIs in emerging economies as well.
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