The sterilization technology is a necessary step for most medical devices as it prevents disease transmission from the equipment used in the medical industry by eliminating the germs, bacteria, prions, viruses, fungi, and all viable life forms through various sterilization method. Lately, the demand for sterilization methods across the globe has increased rapidly.
According to a report published by Allied Market Research, the global sterilization technologies market size is projected to reach $12.7 billion with a considerable CAGR from 2021 to 2030. The North America is currently holding the highest market share, due to presence of key market players in the region. Also, a significant increase in demand for sterilization technologies from the healthcare industry and rise in number of surgical procedures performed are driving the growth of the market in North America. The Asia-Pacific region, at the same time, is expected to manifest the fastest growth rate, attributed to growth of government focus on the healthcare sector, favorable regulatory reforms, and surge in prevalence of chronic diseases.
On top of that, the outbreak of the COVID-19 pandemic has augmented the growth of the global sterilization technologies market in more than on way. Due to large number of patients, hospitals faced a lot of challenges, especially in the initial period. So many temporary hospitals were built up to tackle the disrupted healthcare system and to deal with the growing burden of the pandemic, which in turn, has increased the demand for sterilization devices & services. The trend in going to continue post pandemic as well.
With this drift on board, Sterigenics reopened its sterilization plant in the U.S. for 21 days to sterilize PPE for healthcare workers during the COVID-19 pandemic. The sterilization plant is based on ethylene oxide. Here, it is worth mentioning that with such developments, global sterilization technologies market is expected to grow exponentially in the years to come.
Rise in number of hospital-acquired infections, growth in the geriatric population, expansion of the processed food & beverage market, and increase in adoption of sterilization technologies in medical and cosmetic industries drive the growth of the global sterilization technologies market. However, increase in regulatory pressures, high installation and utility costs associated with sterilization technologies, and introduction of disposable devices, such as syringes, bandages, sutures, and gowns, impede the market growth. On the contrary, R&D activities by key leading players and continuous advancements in the medical device industry are expected to create lucrative opportunities in the industry.
“Increase in number of surgeries and prevalence of various diseases, rise in number of hospital acquired infections, and growth in demand of sterilization in food & beverage industry propel the growth of the sterilization technologies market”.
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