Industry Background:
The growing demand for sterilization in many industries such as the food as well as the healthcare sector will help to boost the global sterilization technology market in the anticipated period. Infection control is an important component of health care settings including hospitals, clinics, and laboratories. Sterilization technology used to remove or destroy infectious agents including bacteria, fungi, and viruses from surfaces of equipment, pharmaceuticals, medications, food ingredients, and biological culture medium.
This growth is primarily driven by Upsurge in Number of Hospital-Acquired Infections and Growth in Geriatric Population.
Globally, a noticeable market trend is evident High Demand for Contract Sterilization Service
. The Health Care Technology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Advanced Sterilization Products Services Inc. (United States), Atec Pharmatechnik GmbH (Germany), Belimed AG (United States), Getinge Group (Sweden), Nordion Inc. (Canada), Noxilizer, Inc. (United States), Sterile Technologies Inc. (United States), Steris Plc (United States), The 3M Company (United States), TSO3 Inc. (Canada) and Cantel Medical Corp. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 2nd May 2019, 3M has acquired Acelity Inc. and its KCI subsidiaries worldwide from a consortium comprised of funds advised by Apax Partners. This acquisition helps 3M to expand its presence in advanced and surgical wound care. Acelity is a leading global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand. The deal is established for 6.7 billion dollars.
1st March 2019, Nordion (Canada) Inc., a Sotera Health Company has announced the acquisition of technology patents associated to the creation of Cobalt-60 in Light Water Reactors (LWRs) from GE-Hitachi Nuclear Energy Americas LLC (GEH). Nordion plays an important role in protection global health by providing Cobalt-60 to sterilize single-use medical devices, to decrease pathogens in food and other products, and to treat certain cancers.
Market Drivers
- Upsurge in Number of Hospital-Acquired Infections
- Growth in Geriatric Population
Market Trend
- High Demand for Contract Sterilization Service
- Development in New Revenue Channel Such As Medical and Cosmetic Industries
- Expansion of Processed Food & Beverage Market
Restraints
- High Installation and Utility Costs Associated With Sterilization Technologies
- Stringent Regulations Related With Harmful Gases
Opportunities
Technological Advancements Such As E-Beam Radiation and Gamma Sterilization and Rapid Advancements in the Medical Device Industry
Challenges
Introduction of Disposable Devices, Such As Bandages, Syringes, Sutures, and Gowns
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Sterilization Technologies Study Sheds Light on
The Sterilization Technologies Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Sterilization Technologies industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Sterilization Technologies industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.