LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global infection control and biosafety products market to grow at a CAGR of more than 4% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global infection control and biosafety products market for 2017-2021. The report also lists infection control products and biosafety products as the two major product segments, of which infection control products accounted for close to 86% of the market share in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global infection control and biosafety products market:
- Outbreak of life-threatening diseases
- Growing disposable income and healthcare spending
- Increasing level of customization for biosafety products
Outbreak of life-threatening diseases
In recent years, the outbreak of various diseases has affected several countries across the world. Diseases caused by bacteria like E. coli have been rampant in recent years. Lack of proper hygiene and sanitation is a major reason for the spread of diseases. A low-level of hygiene during hospital stay and patient care also creates a breeding ground for various microorganisms, such as viruses, bacteria, and spores that can lead to the spread of diseases.
Along with diseases such as Ebola virus disease, H1N1, and diseases caused by the E. coli bacteria, the Centers for Disease Control and Prevention (CDC) has also listed foodborne diseases as other disease outbreaks, which directly impact commercial consumers, such as hotels and restaurants, schools, and corporate offices, as well as domestic users.
“The increased number of healthcare facilities, healthcare research, and other related research has increased the consumption of infection control and biosafety products, which is a major market driver for the expansion of this market,” says Amber Chourasia, a lead analyst at Technavio for health and wellness research.
Growing disposable income and healthcare spending
The growth in per capita income has increased the disposable income and healthcare spending of individuals. Healthcare spending includes expenditure toward the prevention of diseases and the spending for their treatments.
“The increased healthcare spending of people towards better sanitation and cleanliness play a major role in preventing infections. The need to maintain proper hygiene increases the demand for infection control and biosafety products, which is driving the global market,” says Amber.
Increasing level of customization for biosafety products
Biosafety cabinets are enclosed, ventilated laboratory workspaces that are used for working safely with delicate or contaminated materials like pathogens that require a defined safety level. Biosafety cabinets find application in life sciences, clinical, pharmaceutical, and industrial laboratories.
Vendors also offer customization of products for application in various fields. This may include the materials used, the design of the storage platform or trays, air duct design, digital interface, illumination, and even temperature control. The choice of the type and size of the biosafety products is largely based on the application and the process for which they may be used.
With a wide range of cabinets to choose from based on material, size, function, design, and flexibility, end-users have the freedom to choose what best suits their application.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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