The global sterility indicators market size is expected to reach USD 1.24 billion by 2025
NEW YORK, Nov. 27, 2018 /PRNewswire/ -- Sterility Indicators Market Size, Share & Trends Analysis Report By Type (Chemical, Biological), By Technique (Heat, Low Temperature, Filtration, Radiation, Liquid), By End User, And Segment Forecasts, 2018 - 2025
Read the full report: https://www.reportlinker.com/p05628227
The global sterility indicators market size is expected to reach USD 1.24 billion by 2025, according to the study performed by Grand View Research, Inc. It is anticipated to expand at a CAGR of 10.9% over the forecast period. Strict regulations regarding healthcare products and high emphasis on sterility parameters and measures for the prevention of Hospital Acquired Infections (HAIs) are projected to drive the market growth.
Increasing number of geriatric population prone to chronic conditions is primarily driving the demand for drugs and medical devices globally.Governments in developing economies like India and China are focusing on providing cost-effective, high quality medications. The Union Cabinet of India has provided USD 13.16 billion to the National Health Mission (NHM) from April 2017 to March 2020. Currently, India has the highest U.S. Food and Drug Administration (FDA)-approved manufacturing facilities outside U.S. It also accounts for 22.0% of the overall approved U.S. FDA plants. Thus, demand for sterility testing services and products is anticipated to rise over the forecast period.
Standardized manufacturing protocols, introduction of novel products, and adoption of new technologies has led to harmonization of quality and sterility testing standards in the healthcare industry.This has created a need for not only aseptic manufacturing techniques but also for efficient and reliable sterilization monitoring processes.
Furthermore, organizations such as the Agency for Healthcare Research and Quality and Centers for Medicare and Medicaid Services are also raising awareness about the need for stringent regulations for safety and quality testing services of healthcare products. Such steps are anticipated to bode well for expansion of the sterility indicators market over the forecast period.
Further key findings from the study suggest:
• Biological indicator segment captured the largest market share in 2017. Extensive usage as compared to chemical indicators owing to their reliability is anticipated to propel the segment growth
• North America is expected to maintain its dominance with the largest market share over the forecast period owing to the presence of a large number of major companies and a high adoption of advanced technologies
• Asia Pacific is expected to exhibit a lucrative CAGR during the forecast period. Presence of a large untapped market and availability of supportive government regulations are expected to attract global players
• Some of the major players in the sterility indicators market include Getinge AB; Cantel Medical Corporation; 3M Company; Cardinal Health Inc.; Matachana Group; Mesa Laboratories; and Anderson Products Inc.
Read the full report: https://www.reportlinker.com/p05628227
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article