Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Hospital Acquired Disease Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" the global hospital acquired disease testing market, which states that the said market will expand at a whopping 19.3% CAGR from 2013 to 2019. As such, the market with a valuation of US$2.2 bn in 2012 will be worth US$7.5 bn by 2019.
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The market study offers an extensive analysis of the global hospital acquired disease testing market, which includes a comparative analysis of the past and present behavior of this market. The report also examines the growth prospects of this market in the coming years.The report states that the increasing prevalence of healthcare associated infections (HAIs) and resistance to drugs of an increasing number of pathogens are the primary factors driving the hospital acquired disease testing market.
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In addition, the implementation of prevention codes by several governments around the world to keep a check on HAIs is furthering the growth of this market. Stringent regulations in place combined with expiration of PCR (pre-hospital care report) patents will aid growth of the hospital acquired disease testing market.However, the report states that in developing economies, inadequate funds, lack of skilled labor, and insufficient quality control mandates slow down the growth of this market.
The global market for hospital acquired disease testing is divided on the basis of infection types and geography. By infection type, the market is segmented into urinary tract infection (UTI) testing, pneumonia testing, methicillin-resistant staphylococcus aureus (MRSA) testing, surgical site infection (SSI) testing, blood stream infection (BSI) testing, and others (GI, respiratory, bone, cardiovascular, etc.).By geography, the global hospital acquired disease testing market is spread across North America, Asia Pacific, Europe, and Rest of the World.By infection type, currently, the urinary tract infection testing segment leads the market and is expected to rise at an 18.1% CAGR for the forecast period. As such, the UTI segment will be valued at US$2.1 bn by 2019.
However, the SSI testing and pneumonia testing segments will also exhibit high demand from developing countries in Asia Pacific in the next few years. In this region, the growth of the hospital acquired disease testing market has been beneficial for progressive clinical research into the behavior of various pathogens. The increasing demand for reduced healthcare costs from both healthcare institutions and patients has been aiding growth of the hospital acquired disease testing market and its allied markets as well.
Some of the major companies operating in the global hospital acquired diseases testing market are Abbott Laboratories, Inc., Alere Inc., Cepheid Inc., Diatherix Laboratories Inc., Gen-Probe Inc., Nordion Inc., Qiagen GmbH, Becton Dickinson and Co., and bioMerieux Inc.
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Source:Transparency Market Research