Instrument Infection Control Market Is Expected To Reach USD 7,408.72 Million By The End Of 2027 By Registering A CAGR Of 6.38% Across The Globe

The global instrument infection control market reached USD 4,275.00 million in 2018 and is expected to reach USD 7,408.72 million by the end of 2027 by registering a CAGR of 6.38% across the globe. This is primarily attributed to the rising concerns over hospital acquired infections across the globe.

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North America is slated to account for a share of 34.32% by 2027 in the instrument infection control market. The growth in the region can be attributed to increase in investment towards healthcare from government and private entities to maintain the quality of services offered in healthcare facilities. The US is the major country driving the growth in the region, reaching a market value of USD 1,256.74 million in 2018 and is expected to grow at a CAGR of 6.61% over the forecast period i.e. 2020-2027. U.S. On the back of rising adoption of innovative infection control products that ensure the provision of highest degree of sterilization in the region, it is expected to result in the market growth over the forecast period.

The rising awareness towards continuous disinfection of instruments used commonly, especially in out-patient departments and surgical suites, to prevent the possibility of infection in the developing counties such as China & India, is expected to positively impact the market. High use of disinfection and cleaning products along with gradually increasing dependence on advanced sterilization products such as gamma ray sterilization and e-beam sterilization devices are expected to boost the market growth in the region. Also, the Asia Pacific region captured a market size of USD 1,000.90 million in the year 2018 and is expected to reach USD 1,831.44 million by the year 2027 with a CAGR of 7.02%. The market is primarily led by the demand from China capturing a market of USD 391.55 million in the year 2018 and is expected to grow at a CAGR 7.66%.

Europe is expected to reach a market size of USD 2,075.92 million by the year 2027. The high number of local manufacturers of infection control products, especially the disinfection products such as alcohols, aldehydes, and oxidizing agents, in the region, is expected to positively impact the market.

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According to the segmentation by product, the market is segmented into cleaning, disinfection, & sterilization products, out of which the sterilization products are expected to witness the highest demand in the market. This is primarily attributed to the differences in degree of decontamination achieved in each type of infection control method. The sterilization products segment is growing with a CAGR of 6.75% over the forecast period and is expected to capture a market of USD 3,529.55 million by the year 2027. The sterilization market is further segmented into hydrogen peroxide, ethylene oxide “gas” sterilization, radiation, steam, & others, out of which the radiation segment is capturing the highest market with USD 921.97 million in the year 2018. This can be attributed to the differences in cost, product compatibility with instruments, and degree of purification achieved.

On the basis of end user, the market is segmented into hospitals, pharmaceutical & life sciences companies, academic & research institutes, clinics (dental clinics & general practice clinics), and others. The hospitals segment captured the largest market with USD 2,312.93 million in 2018 and is expected to reach USD 3,978.63 million by 2027 with a CAGR of 6.29% over the forecast period. This can be attributed to the high number of patients encountered by hospitals and large facilities in comparison to smaller facilities such as clinics.

Some of the leading manufacturers in the market are Getinge, Steris, and 3M with a presence across multiple countries offering a highly diverse product line

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Original Source:
https://www.marketwatch.com/press-release/instrument-infection-control-market-is-expected-to-reach-usd-740872-million-by-the-end-of-2027-by-registering-a-cagr-of-638-across-the-globe-2019-11-07

This release was published on openPR.