The global sterilization monitoring market is estimated grow to USD 631.0 million by 2022
LONDON, June 5, 2017 /PRNewswire/ -- Highlights
· The global sterilization monitoring market is estimated to grow at a CAGR of 7.5% from 2017 to 2022 to reach USD 631.0 million by 2022.
· On the basis of technology, the sterilization monitoring market is segmented into biological monitoring, chemical monitoring, and mechanical monitoring.
· In 2016, the biological monitoring segment is expected to account for the largest share of the market.
· Based on the method of sterilization, the steam sterilization segment accounted for the largest share of the global sterilization monitoring market in 2016.
· On the basis of end user, the hospitals segment accounted for the largest share of the global sterilization monitoring market in 2016.
· The rising prevalence of healthcare-associated infections (HAIs) coupled with the increasing number of surgeries is supporting the growth of the hospitals segment.
· Based on process, the sterilization monitoring market is categorized into pack monitoring, load monitoring, equipment/process monitoring, and exposure monitoring.
· The global sterilization monitoring market is highly competitive, with a large number of global and local players.
The global sterilization monitoring market is estimated to grow at a CAGR of 7.5% from 2017 to 2022 to reach USD 631.0 million by 2022. Factors such as technological advancements in sterilization monitoring products, rising focus on food sterilization, rising incidence of hospital-acquired infections, and increasing number of surgical procedures coupled with the rising geriatric population and chronic disease incidence are the major factors driving the growth of this market. On the other hand, lack of awareness on sterilization monitoring and dearth of skilled professionals are the major factors limiting the growth of this market.
On the basis of technology, the sterilization monitoring market is segmented into biological monitoring, chemical monitoring, and mechanical monitoring. In 2016, the biological monitoring segment is expected to account for the largest share of the market. Factors such as efficacy of biological indicators to monitor sterilization processes by killing the microorganisms directly as compared to the other sterilization monitoring techniques and increasing preference for BIs by various healthcare organizations to monitor sterilization processes are expected to drive the growth of this technology.
Based on the method of sterilization, the steam sterilization segment accounted for the largest share of the global sterilization monitoring market in 2016. The large share of this segment can be attributed to the non-toxic nature of steam and the low cost and efficiency offered by this method of sterilization in comparison to the other methods of sterilization. On the basis of end user, the hospitals segment accounted for the largest share of the global sterilization monitoring market in 2016. The rising prevalence of healthcare-associated infections (HAIs) coupled with the increasing number of surgeries is supporting the growth of the hospitals segment.
Based on process, the sterilization monitoring market is categorized into pack monitoring, load monitoring, equipment/process monitoring, and exposure monitoring. The pack monitoring segment accounted for the largest share of the global sterilization monitoring market in 2016. Pack monitoring helps identify problems related to human errors and sterilizer malfunctions such as inadequate humidification and inadequate exposure time at the selected temperature; such advantages are driving the market growth in this segment.
On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to command the largest share of the global sterilization monitoring market in 2017, followed by Europe. The sterilization monitoring market in North America is primarily driven by the growing demand for healthcare services in North America owing to an expected surge in the geriatric population and rising prevalence of chronic diseases in the coming years.
The global sterilization monitoring market is highly competitive, with a large number of global and local players. In 2016, the global sterilization monitoring market was dominated by 3M Company (U.S.), Getinge Group (Sweden), Cantel Medical Corp. (U.S.), and STERIS plc (U.S.). Product launches & showcases and acquisitions were the major strategies adopted by market players to achieve growth in the sterilization monitoring market.
Research Coverage
This report studies the sterilization monitoring market based on technology, product, process, method of sterilization, and end user. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.
Reasons to buy the report:
From an insights perspective, this research report has focused on various levels of analysis—industry trends, market share analysis of top ten players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the sterilization monitoring market, and high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the major players in the sterilization monitoring market. The report analyzes the sterilization monitoring market based on technology, product, method of sterilization, process, end user, and region
• Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and product launches in the sterilization monitoring market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various sterilization monitoring across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the sterilization monitoring market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the sterilization monitoring market
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