Global infection control market is projected to grow at a CAGR of 6.6%
NEW YORK, Feb. 20, 2019 /PRNewswire/ --
Global infection control market is projected to grow at a CAGR of 6.6%.
The global infection control market is projected to reach USD 27.5 billion by 2024 from USD 20.0 billion in 2019, at a CAGR of 6.6% during the forecast period. Growth in the infection control market can largely be attributed to factors such as the high incidence of hospital-acquired infections; the increasing number of surgical procedures; the growing geriatric population and increasing incidence of chronic diseases; the growing focus on food sterilization and disinfection; technological advancements in sterilization equipment; and the increasing outsourcing of sterilization services among pharmaceutical companies, hospitals, and medical device manufacturers.
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By product & service, sterilization products and services are expected to hold the largest share of the infection control market in 2019.
The sterilization products and services segment is expected to dominate the infection control market during the forecast period. The large share of the sterilization products & services market can be attributed to the increasing need to reduce SSIs and HAIs; stringent sterilization regulations; and the extensive use of sterilizers in various applications such as medical device sterilization, food & beverage sterilization, pharmaceutical sterilization, and sterilization in the life sciences industry.
The market for sterilization products and services will be dominated by the sterilization equipment segment in 2019.
The sterilization products and services segment is segmented into sterilization equipment, contract sterilization services, and consumables and accessories.The sterilization equipment segment, comprising four sterilization technologies—heat, low-temperature, radiation, filtration sterilization, and other equipment—is expected to hold the largest market share in 2019.
This is attributed to its wide applications, ease of set-up, recurrent usability, and cost-effectiveness. Moreover, the increase in the number of surgeries, the increasing prevalence of food-borne diseases, and the growth of the pharmaceutical and medical device industries have boosted the demand for sterilization instruments.
North America is expected to hold the largest share during the forecast period (2019–2024)
North America is expected to dominate the infection control market during the forecast period.Growth in this market is majorly driven by the rising demand for healthcare services (owing to an anticipated surge in the geriatric population in the coming years and the subsequent increase in the prevalence of chronic diseases) and the need for infection control to minimize the prevalence of HAIs and cost incurred due to HAIs.
Many leading players are focusing on technological innovations and marketing collaborations to strengthen their presence and sustain their shares in the North American infection control market.
A breakdown of supply-side primary participants is mentioned below:
• By Company Type: Tier 1–55%, Tier 2–20%, and Tier 3–25%
• By Designation: C-level–35%, Director Level–25%, Others–40%
• By Region: North America–45%, Europe–30%, Asia Pacific–20%, the Rest of the World–5%
Some major players operating in this market include Getinge AB (Sweden), STERIS plc. (US), Advanced Sterilization Products (US), 3M Company (US), Belimed AG (Switzerland), Cantel Medical Corporation (US), MMM Group (Germany), Matachana Group (Spain), Sotera Health LLC (US), Ecolab, Inc. (US), Metrex Research Corporation (US), Reckitt Benckiser Group Plc. (UK), Miele Group (Germany), Melag (Germany), and Pal International (UK).
Research Coverage:
The infection control market in this report is segmented by product & service, end user, and region.It provides detailed information regarding the major factors influencing the growth market (drivers, restraints, opportunities, and industry-specific challenges).
The study tracks and analyzes competitive developments (such as partnerships, agreements, collaborations, mergers & acquisitions, product developments, geographical expansions, and R&D activities) and strategically profiles the key players and comprehensively analyzes their market shares and core competencies in the infection control market.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—the market share analysis of top players, company profiles that comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the infection control market; high-growth regions; and market drivers, restraints, and opportunities. The report provides the latest statistics and industry trends, allowing buyers to identify high-growth product segments and potential customers and suppliers, hence driving revenue growth and profitability. The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on infection control products and services offered by the top players in the global infection control market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the global infection control market
• Market Development: Comprehensive information about lucrative emerging markets–the report analyzes the markets for infection control across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global infection control market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global infection control market
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