Sterilization Technologies Market Size, Top Key Players, Latest Trends, Regional Insights and Global Industry Dynamics By 2027
Pune, Maharashtra, India, September 15 2020 (Wiredrelease) Allied Analytics –:Penetration of disposable products in medical and pharmaceutical industry is a threat to market growth, as it eliminates the need for sterilization technologies. However, all instruments and devices cannot be converted into one-time-use equipment, and thus sterilization technologies are expected to continue to flourish.
According to a new report published by Allied Market Research, titled, “Sterilization Technologies Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2019-2027,” the global sterilization technologies market is expected to reach $8,578 million , from $5,768 million in 2015, growing at a CAGR of 5.8% to 2027. The chemical & gas sterilization segment dominated the market, with more than half share, in terms of revenue.
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Covid-19 Impact on the Global Sterilization Technologies Market:-
Sterilization Technologies Market Report provides an overview of the market based on key parameters such as market size, sales, sales analysis and key drivers. The market size of the market is expected to grow on a large scale during the forecast period (2019-2026). This report covers the impact of the latest COVID-19 on the market. The coronavirus epidemic (COVID-19) has affected all aspects of life around the world. This has changed some of the market situation. The main purpose of the research report is to provide users with a broad view of the market. Initial and future assessments of rapidly.
The key market players profiled in this report are Advanced Sterilization Products Services Inc. (U.S.), Atec Pharmatechnik GmbH (Germany), Belimed AG (U.S.), Getinge Group (Sweden), Nordion (Canada) Inc. (Canada), Noxilizer, Inc. (U.S.), Sterile Technologies Inc. (U.S.), Steris Plc (U.S.), The 3M Company (U.S.), and TSO3 Inc. (Canada).
Sterilization technologies are procedures used to eliminate transmissible agents, such as bacteria, virus, fungi, and prions, by using chemical and physical agents known as sterilants. Increase in number of surgeries, rise in number of hospital-acquired infections (HAIs), and growth in demand for sterilization technologies in various end user industries, including food & beverage, are major factors that drive the market growth globally.
Ethylene oxide, formaldehyde, hydrogen peroxide, and propylene oxide are active agents employed in sterilization technologies. Enhancement in low-temperature sterilization systems through continuous innovation has led to reduced processing time and capacity expansion for instrument reprocessing.
Regulatory authorities present in this market include the Food and Drug Administration (FDA), International Organization for Standardization (ISO), and Occupational Safety and Health Administration (OSHA). High cost of sterilization equipment & devices and stringent regulations associated with harmful gases hinder the growth of sterilization technologies; however, technological advancements and rise in use of sterilization technologies in emerging economies provide numerous opportunities for market expansion.
Chemical & gas sterilization accounted for more than half market share, in terms of revenue, in 2015, owing to the ability of gases to penetrate multiple packaging layers. This sterilization technology is used for catheters, equipment with integrated electronics, assembled complex devices, stents, custom procedure packs, multi-lumen tubing products, and wound care dressings.
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Medical devices segment held the largest share by end user in 2015, in terms of revenue, and is expected to grow at a CAGR of 5.7% during the forecast period. Sterilization technologies are used in the medical industry to sterilize tissues, medical products, and cleanroom consumables. Penetration and dose uniformity ratio, shorter processing time, enhanced polymer reaction, and flexibility have made X-ray processing as the preferred sterilization procedure for medical device products.
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