Sterility Indicators Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Sterility Indicators Market: Overview
The global market for sterility indicators market is predicted to experience a strong demand during the forecast period 2018 – 2028, owing to rapid advancement in the healthcare sector particularly in the emerging countries. Government of various countries are focusing on developing the healthcare sector, in which sterility indicators plays a major role. Surge in research and development activities by various players in the market to produce enhanced and efficient product is likely to favor the growth of the market. Stringent rules and regulation imposed by the government pertaining to the use of sterility indicators bodes well with the growth of the market. Aggressive demand for medical devices and medicines owing to increase chronic diseases all across the world is playing a pivotal role in supporting the growth of the market.
Sterility Indicators Market: Drivers and Restraints
Extensive research and development activities is anticipated to propel the demand for various sterilization process in biotechnology and pharmaceuticals industries. Sterilization of pharmaceutical products and packaging equipment is indispensable as it kills all forms of microbial life and protects from contamination. This is one of the major reasons that is driving healthcare sector to rely on sterility indicators. Stem sterilization is gaining immense popularity for its efficacy, thus helping the market to boosts.
Apart from these, surge in cases of Hospital Acquired Infections is compelling vendors in the market to increase their production rate in order to meet the demand from booming healthcare sector. Hospital acquired infections are known to exacerbate already admitted patients’ condition. This has increased the adoption of hospital sterile processing worldwide. Increase in number of sterilization procedures is predicted to have a positive influence on the market growth.
Launch of new and advanced sterility indicators are likely to cut the prices of their older version, this is prognosticated to aid market to reach new heights. Rise in number of infections all across the world is fostering the market. Furthermore, increase in geriatric population is expected to help the market. Old people are more vulnerable to fall ill due to low immunity level, this likely to generate revenue for the market.
Sterility Indicators Market: Market Potential
Players in the market are opting for strategic partnership such as mergers and acquisitions to expand their customer base. For instance, recently BAG Health’s hygiene business was acquired by Mesa Labs. Bag’s Health’s hygiene consists of chemical and biological indicators. This move is considered to provide a competitive edge to the organization.
Sterility Indicators Market: Regional Outlook
On the basis of geography, the global sterility indicators market is divided into Asia Pacific, Latin America, Europe, Middle East and Africa, and North America. Of these, North America is expected to hold the leading position due to recurrent launch of medical devices and biologics and drugs in the region. Presence of established players in the region also supports the region to dominate. Increasing prevalence of chronic diseases and rise in geriatric population are favoring the region. However, on the other hand, Asia Pacific is likely to display a steady CAGR during the forecast period due to rise in medical tourism industry.
Sterility Indicators Market: Companies Mentioned
Some of the key players present in the market are Cardinal Health, Inc., Mesa Laboratories, Cantel Medical Corp., and 3M Company.
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