According to a recent study by Future Market Insights (FMI), sales of infection prevention products are expected to top $37.4 billion in 2021, expanding at a compound annual growth rate (CAGR) of over 4.2% during the forecast period (2021-2031).
Rising cases of infectious diseases caused due to pathogenic organisms such as bacteria, fungi, viruses and other parasitic organism are improving the adoption of infection prevention products.
As reported by the Center for Disease Control and Prevention (CDC) in 2018, infectious disease is the third most leading cause of death in the U.S. followed by other infectious diseases such as tuberculosis (9,025 cases), salmonella (60,99 cases), Lyme disease (33,666 cases), meningococcal disease (327 cases) and parasitic diseases (15.5 Mn cases).
Several other factors such as rising incidence of infections acquired while in a hospital (often called hospital-acquired infections or HAI), large number of surgical procedures, and increasing cases of chronic diseases among the geriatric population have led to a higher emphasis on maintaining proper hygiene and cleanliness.
The COVID-19 pandemic increased the number of patients in hospital during the first quarter of 2020, elevating the risk of viral transmission amongst them. This, in turn, has increased the demand for infection prevention and controlling options such as the use of hand sanitizers, disinfectants and other such products.
The increase in sales of these infection prevention products is expected to boost the infection prevention market growth in the near future. The market registered spike in demand for infection preventive products, especially in emerging economies such as India.
As per Future Market Insights, the India infection prevention market registered the highest growth across South Asia, reaching $17.29 billion in 2021.
Additionally, companies manufacturing infection prevention products have been focusing on developing eco-friendly and sustainable bio-based products with superior efficacy. A drive toward sustainability is expected to strengthen the infection prevention market, creating worthwhile opportunities for growth.
An increasing older population worldwide has resulted in a higher focus on proper hygiene and self-care solutions because of the rise in chronic diseases and the onset of COVID-19. Furthermore, an increase in consumer spending, improved health care infrastructure, rising government and industry investments in research and development activities will create demand for infection prevention products.
Based on the aforementioned factors, Future Market Insights (FMI) estimates that the market will exceed $56.39 billion by the end of 2031.
A report from Mordor Intelligence states that the infection control market is projected to register a CAGR of 6.5% during the forecast period (2021-2026).
ResearchAndMarkets.com reports that the global hospital-acquired infection control market was valued at $19.9 billion in 2020, and is projected to reach $25 billion by 2030, registering a CAGR of 4.6% from 2022 to 2030.
