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Sterilization Indicator Tape Market to Hit USD 171.5 Million in 2028; Usage of Steam Autoclaves to Sterilize Surgical Instruments will Favor Growth: Fortune Business Insights™

09-02-2021 12:24 PM CET | Health & Medicine

Press release from: Fortune Business Insight

The global sterilization indicator tape market is set to gain momentum from the rising usage of steam autoclaves for purifying surgical instruments, such as lancets, forceps, and scalpels. The National Center for Biotechnology Information declared that when used for 3-12 hours, chemicals, namely, hydrogen peroxide (7.5%), glutaraldehyde (≥2.4%), and peracetic acid (PAA) (0.2%) can sterilize instruments. As per a report by Fortune Business Insights™, titled, “Sterilization Indicator Tape Market, 2021-2028,” the market size was USD 120.3 million in 2020. It is projected to grow from USD 125.4 million in 2021 to USD 171.5 million in 2028 at a CAGR of 4.6% in the forecast period.

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COVID-19 Pandemic: Rising Importance of Sterilizing Medical Instruments to Aid Growth

The outbreak of the COVID-19 pandemic has positively impacted this industry. This occurred mainly due to the surging emphasis on the significance of having infection-free and sanitized medical instruments amid surgical and dental procedures to curb transmission of the virus, as well as prevent hospital acquired infection (HAIs). Our research reports will help you to overcome this grave situation by selecting the right strategy.

Segments-

Steam Indicator TapesSegment to Lead Backed by Sterilization of Reusable Instruments

Based on the application, the market for sterilization indicator tap is divided into healthcare facilities, pharmaceutical & medical device companies, and others. By type, it is segregated into steam indicator tapes and hydrogen peroxide tapes. Amongst these, the steam indicator tapes segment generated the largest sterilization indicator tape market share in 2020. The rising sanitization of reusable instruments would drive the segment.

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Report Coverage-

The report aims to analyze the sterilization indicator tapes industry by considering contributions, prospects, and growth trends. It presents detailed profiles of every key player operating in the market to analyze their core competencies in each segment. Apart from that, it ensures to help our clients better understand the competitive developments, such as mergers & acquisitions, new product launches, joint ventures, and collaborations.

Drivers & Restraints-

Increasing R&D Activities in Pharmaceutical and Biotechnology Industry to Boost Growth

The rapid expansion of the pharmaceutical and biotechnology industry is one of the most vital reasons responsible for the sterilization indicator tape market growth. Manufacturing facilities are nowadays utilizing these indicator tapes for keeping up with the strict regulatory policies associated with sanitization processes. At the same time, increasing research and development activities worldwide to introduce novel products would bolster growth. The Pharmaceutical Research and Manufacturers of America, for instance, mentioned that in 2018, the biopharmaceutical industry in the U.S. provided a fund of around USD 102 billion in the U.S. to conduct R&D of new products. However, in emerging countries, the lack of awareness about the sterilization process may hamper growth.

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Regional Insights-

North America Generated Revenues of USD 45.4 Million in 2020: Fortune Business Insights™

Geographically, North America procured USD 45.4 million in 2020 in terms of revenue. The presence of strict regulatory policies governing the sterilization of medical devices and the rising number of hospitals would propel the demand for sterilization indicator tape in this region. On the other hand, Europe is likely to showcase a considerable share in the forthcoming years fueled by the urgent need to prevent hospital-acquired infections. In Asia Pacific, the increasing production of pharmaceutical drugs would accelerate the demand for these indicator tapes.

Competitive Landscape-

Key Players Aim to Compete with Rivals through Mergers and Acquisitions

The global market contains several renowned companies that are majorly focusing on mergers and acquisitions to compete with their rivals. Some of the educational institutions are also conducting extensive R&D activities to come up with innovative products. Below are the two significant industry developments:

December 2020: Researchers at the Indian Institute of Technology Bombay and Massachusetts Institute of Technology (MIT) developed a state-of-the-art system to sterilize medical instruments by utilizing solar heat. It contains a standard autoclave indicator tape that can change color as per minimum exposure requirements.
October 2019: Cantel Medical Corporation acquired Hu-Friedy Mfg. Co., a renowned manufacturer of instrument reprocessing workflow systems and instruments, especially for the dental industry. It will help Cantel to improve the supply chain efficiency of its dental division and cater to the surging concerns of training, education, and technology.
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A list of prominent manufacturers of sterilization indicator tape present in the global market:

STERIS plc. (U.S.)
3M (U.S.)
Crosstex International, Inc. (U.S.)
Healthmark Industries Company, Inc. (U.S.)
Advanced Sterilization Products (ASP) (U.S.)
GKE GmbH (Germany)
Terragene (Argentina)
Getinge (Sweden)
VP Group (Germany)
Certol International (U.S.)
Propper Manufacturing (U.S.)
PMS Healthcare Technologies Corporation (Turkey)
Kartell (Italy)
Deltalab (Spain)
Hu-Friedy Mfg. Co., LLC (U.S.)
Defend by Young Mydent LLC (U.S.)
Shinva (China)
Jiangmen New Times Adhesive Technology Co., Ltd. (China)
Excelsior Scientific (UK)
4A Medical (Turkey)
Table Of Content

Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Mergers, Acquisitions, Partnerships, etc.
Covid-19 Impact on the Market
Global Sterilization Indicator Tape Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Revenue (USD million) and Volume (1,000 Units) Analysis, Insights and Forecast – By Type
Steam Indicator Tapes
Hydrogen Peroxide Tapes
Market Revenue (USD million) and Volume (1,000 Units) Analysis, Insights and Forecast – By Application
Healthcare Facilities
Pharmaceutical & Medical Device Companies
Others
Market Revenue (USD million) and Volume (1,000 Units) Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
ToC Continue…

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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