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Sterilization Technology Market Product Specification Using Innovative Technology, Key Findings, Quality Control and Growth Drivers By Regional Analysis on Risk Points Versus Increasing Demand

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Sterilization Technology Market Product Specification Using Innovative Technology, Key Findings, Quality Control and Growth Drivers By Regional Analysis on Risk Points Versus Increasing Demand

April 21
23:08 2020
Sterilization Technology Market Product Specification Using Innovative Technology, Key Findings, Quality Control and Growth Drivers By Regional Analysis on Risk Points Versus Increasing Demand

Sterilization Technology Market
Sterilization Technology Market Growth Analysis by Type of Sterilization (Ethylene Oxide, Ionizing Radiation, Filtration and Thermal Sterilization), by (Chemical Process, Physicochemical, Synergetic Processes and Physical Processes), End User (Pharmaceutical Industry, Hospitals & Clinics and Medical Device Manufacturers) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) – Forecast till 2023

The “Global Sterilization Technology Market Could Touch the Valuation of USD 8,142.61 Million By 2023, Believes Market Research Future (MRFR). It Is Set to Attain A Noteworthy CAGR of 8.20% During the Forecast Period (2018-2023)”.

Market Growth Overview

The sterilization technology market could expect favorable gains with the rising incidence of healthcare-associated infections (HAIs) along with a subsequent surge in the number of surgeries. The market also benefits from the increasing demand for sterilized pharmaceutical products as well as the accelerated demand for less invasive surgical procedures. Asian countries present numerous growth opportunities to the market with the constantly expanding aging population and the quickly expanding pharmaceutical and biotechnology industry.

Healthcare-associated infections are among some of the most frequent events within various healthcare settings, including ambulatory service centers, clinics, and hospitals. This rise in incidences of HAIs is progressively leading to a high mortality rate and financial losses in the healthcare system. As a result, the market for sterilization technology could expect significant traction in the near future.

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The World Health Organization (WHO) reveals that out of 100 patients admitted in hospitals, close to 10 patients in emerging countries and about 7 in developed countries have high chances of acquiring at least one HAI. Sadly, the significance of HAIs is in low to middle-income countries are much higher compared to high income nations.

Market Segmentation

The market for sterilization technology has been segmented on the basis of type, process, and end-user.

With context to the type, the sterilization technology market includes ionizing radiation, ethylene oxide, filtration, thermal sterilization, and others. The ethylene oxide segment expects to seize the largest share by 2023, as its demand is rising due to the strength of its radiation as well as high penetration rate.

Process-wise, the market covers physiochemical, chemical process, physical process, and synergetic process. Out of these, the chemical process segment will possibly touch the valuation of USD 5,677.43 million by 2023, making it the most profitable segment.

Major market end-users include medical device manufacturers, hospitals & clinics, and pharmaceutical industry. Pharmaceuticals is projected to be the top-most end-user during the forecast period as a result of the high demand for sterilization to prevent contamination of pharmaceutical ingredients.

Key Players

The prominent players in the global sterilization technology market are,

  • Advanced Sterilization Products Services Inc.
  • Atec Pharmatechnik GmbH
  • Sterile Technologies Inc.
  • Steris PLC
  • 3M Company
  • Feldmeier Equipment Co.
  • Donaldson Co. Inc.
  • and Beta Star Life Science Equipment Inc.

Some of the key strategies followed by the players operating in the global sterilization technology market were innovation, product development, acquisition, and expansion.

Industry Opportunities

The sterilization technology market offers a high number of opportunities for the companies to expand. This is true for the fact that the emerging markets are noting increasing growth avenues and there is a boost in the demand for electron beam (ebeam) sterilization process. This process is one of the most commonly used sterilization methods for medical equipment. It makes use of high energy electrons as a radiation source and is now considered to be a highly efficient technology for low-density medical devices. This particular sterilization process offers a host of benefits in the form of shorter processing time and less product degradation. Thus, with the rising use of ebeam sterilization process, the market will be abounded with several growth opportunities in the subsequent years, note MRFR data experts.

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Industry News

June 2019

Serac has launched a new BluStream cap sterilization technology which helps get rid of distorting issues related to the high temperatures of chemical sterilization. It makes use of a low-energy e-beam treatment which can take place at room temperature and manages to generate a six-log bacteriological reduction in only one second without the use of any chemicals.

Regional Outlook

The above segments have been analyzed under the key regions of Europe, the Americas, Middle East & Africa (MEA) and Asia Pacific (APAC).

In 2017, North America reigned as the largest market for sterilization technology with a share of 40.1% and could expect to retain its position even in the future. The unparalleled growth trajectory of the regional market is due to the rising awareness about infections & diseases and the strikingly expanding geriatric population. The region also gains from improving healthcare expenditures, vast patient pool, and the increasing admissions in hospitals as a high number of patients suffer from some form of chronic illness. A strong economy and technological sophistication in healthcare also lead the market to greater heights.

Europe secured the second position in the sterilization technology market, where Western Europe forms a more lucrative market compared to Eastern Europe. Countries like Germany, France, Spain, the United Kingdom (UK) and Italy form the crux of Western Europe. The overall regional market notes considerable growth owing to the presence of ambitious players who indulge in mergers and acquisitions and the mounting awareness among patients. The high healthcare cost, in addition to the rising number of HAIs and research & development (R & D) activities, are presumed to bring favorable gains for the market in the following years.

Asia Pacific stands as the third leading sterilization technology market, with data experts predicting further growth for the market during the appraisal period. The high revenue-generating countries are India, China, Australia, South Korea, and Japan. The market is expanding as a result of the accelerated development in technology and escalating healthcare expenditure. The flourishing medical tourism, along with high pollution levels and mushrooming geriatric population in the region add to the market strength.

MEA is the smallest market for sterilization technology, with a lack of awareness and lack of technological development playing a major role in it. Political instability and less focus on the improvement of healthcare bring the market position a notch down as well.

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TABLE OF CONTENT:

  1. Market Dynamics

4.1 Introduction

4.2 Drivers

  • 2.1 Rising Hospital Acquired Infections (HAI)
  • 2.2 Increasing Surgical Procedures
  • 2.3 Technological Advancements

4.3 Restraints

  • 3.1 Stringent Regulations

4.4 Opportunity

  • 4.1 Entering Developing Economies

4.5 Porter’s Five Forces Model

  • 5.1 Bargaining Power Of Suppliers
  • 5.2 Bargaining Power Of Buyers
  • 5.3 Threat Of New Entrants
  • 5.4 Threat Of Substitutes
  • 5.5 Intensity Of Rivalry

4.6 Value Chain Analysis

  • 6.1 Research &Development
  • 6.2 Manufacturing
  • 6.3 Distribution
  • 6.4 Marketing & Sales
  • 6.5 Post-Sales Monitoring

…To be Continued.

About US: Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Email: [email protected]

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State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/sterilization-technologies-market-1312


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