This is especially necessary in the healthcare industry for making medical instruments, medication, fluid and biological culture media infection-free. Sterilization is done via application of heat, pressure, chemical and filtration. As per a recent study conducted by Hexa Research, there exists a pressing need for effective, swift and cost-effective sterilization technologies at a global level.
Growth in safety procedures and processes of various hospitals, medical device companies, and research laboratories is bound to propel demand for sterilization technologies. Additionally, rising number of surgeries necessitating sterile instruments, growing number of hospital –acquired infections and rising geriatric population will also accelerate market growth. Government regulations that require medical instruments to be made infection-free after every use are also conducive to industry growth.
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Hexa Research, Inc. observes that the filter sterilization market segment, which includes equipment and consumables, is likely to grow at a CAGR of 9.4% from 2013 to 2019. The liquid filtration market segment is anticipated to grow at a CAGR of 11.1% and heat sterilization technologies at a CAGR of 3.5% in the same period. The liquid filtration segment fetched revenues close to $1.12 billion in 2010 which rose to around $1.4 billion in 2011. Sales of heat sterilization technologies stood at $1.09 billion in 2011.
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North America dominated the global sterilization technologies market in 2015 while Europe was in second position. North America is expected to retain its industry leadership in the coming years. China, India and Japan are expected to be the key growth drivers in the Asia Pacific region. Proliferation in the number of hospitals and sterilization processes, and growth of the pharmaceutical sector are some of the factors that will augment demand for sterilization technologies in these countries.
Key market participants of the global sterilization technologies industry include Roche, Pfizer, Belimed AG, bioMerieux and Becton Dickinson, among others.
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Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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