Finland’s infection control market is evaluated at US$77.276 million for the year 2020 and is projected to grow at a CAGR of 8.83% to reach a market size of US$139.713 million by the year 2027. The infection control market in Finland is projected to grow at a significant growth rate owing to the prevalence of chronic diseases. The major ones include cardiovascular diseases, cancer, and nervous system disorders. Also, the increasing number of nurses in the country has further risen the market demand owing to the rising concerns for maintaining prevention against hospital-associated infections for caretakers and patients both. The growing number of nurses in the country has increased market demand due to rising concerns about hospital-associated infection prevention for both caregivers and patients. The expansion of the roles of some nurses with new functions will certainly provide a strong market opportunity in the forecast period and in the upcoming years. These functions include patient case management, consultations, and prescribing. However, at present, the actual number of nurses in these roles is relatively low. Furthermore, the improved efficiency of the hospitals has further increased the market growth in spite of the reductions in the number of hospital beds and reduced the average length of hospital stays. The evolving manufacturing industries in Finland, in order to keep pace with the evolving consumer needs, specifically wood, chemicals, metals, and electronics, industry are fueling the market demand in the forecast period.
The presence of manufacturing industries in the country is propelling the market demand in the forecast period.
Finland is known for its highly industrialized economy. The country is a multi-sector economy, comprising varied industries including agriculture, manufacturing, and refining. One of the main economic drivers is the electronic industry. Massive investment in research and development, which resulted in the creation of several electronic goods, is credited with driving industrial expansion. As per the UN statistics, Finland in 2016 was categorized among the biggest spenders on electronics research and development, accounting for an expenditure of 3.2% of the GDP. However, another significant sector in this area is the processing of wood. It produces a variety of goods, such as paper, pulp, and boards. Additionally, there has been considerable growth in industrial output as a result of technical improvements.
The volume index of industrial output, including forest, chemical, metal, and electrical & electronics manufacturing industries, grew from 100.0 in 2015 to 111.2 in 2018 (source: Official Statistics of Finland).
The improved efficiency of the hospital sector is further burgeoning boosting the market demand in the forecast period.
It has been observed that the improvement in the efficiency of the hospital industry has further raised the market demand in the forecast period. It has been noted that the forecast period's market demand has increased due to the healthcare sector's increased efficiency. Estimates from the OECD, WHO, and European Commission show that since 2000, hospital efficiency has grown. There has been a 40 percent decrease in the number of medical beds per capita, and there have also been decreases in the average periods of hospital stays (accounting to hold a reduction of more than 25%). However, the growth in the number and share of day surgeries was noticed for several procedures, and this is projected to continue for certain diseases. Consequently, this presents a chance for the market to grow over the forecast timeline and in the following years.
COVID-19 SCENARIO
During COVID-19, there has been an upsurge in the requirement for sterilization and disinfection in hospitals and clinics. Additionally, there have been technological advancements in sterilization and disinfection equipment, a rise in hospitals, pharmaceutical, and medical device firms outsourcing sterilization services, as well as an increase in the production of single-use items and medical nonwovens. The COVID-19 outbreak has caused a sharp rise in demand for infection control products, which has had a significant impact on the expansion of the infection control market in Finland. The market for infection control is likely to rise, but it will be constrained by the negative effects of chemical disinfectants and worries about the safety of reprocessed devices. On the other hand, during the forecast period, increased use of single-use medical nonwovens and devices is anticipated to present profitable prospects.
Key Development
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2020 | US$77.276 million |
| Market Size Value in 2027 | US$139.713 million |
| Growth Rate | CAGR of 8.83% from 2020 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2022–2027 |
| Forecast Unit (Value) | USD Million |
| Segments Covered | Product And End User Industry |
| Companies Covered | 3M, B. Braun Melsungen AG, Steripolar Oy, Franke Medical OY, Tuttnauer |
| Customization Scope | Free report customization with purchase |
Market Segmentation: