Press release
Biological & Chemical Indicators Market will expand nearly 2X over forecast period, 2030-2030
According to Future Market Insights (FMI) the worldwide yearly tracker, vendor revenue in global biological & chemical indicators market will grow 9.1% year over year to 396.8 Mn in 2020. Global shipments will rise 9.7% year over year to 830.7 Mn units in 2020.Irrespective of the COVID-19 pandemic, demand for biological and chemical indicators has been surging tremendously as sterilization has always been at forefront of duties of healthcare facilities.
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However, the role will be put to test in near future as epidemiological numbers continue to rise amidst the public health crisis. As such, FMI foresees healthy growth trail for global biological and chemical indicators market over forecast period 2020-2030.
Biological & Chemical Indicators Market Size Study
- Thermal sterilization will remain preferred sterilization type through 2030
- Biological indicators (BI) continue to stay high in demand, enzyme indicators to gain traction
- Players to stay glued to self-contained BIs, as they lead to shorter required incubation times
- Biopharma industry to remain primary end user of biological and chemical indicators over following decade
- Stakeholders to reap substantial revenue from North America and Europe, given presence of advanced healthcare infrastructure
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COVID-19 Impact on Biological & Chemical Indicators Market
The COVID-19 pandemic will trigger the demand for biological and chemical indicators for short-term to validate sterilization process in hospitals, ambulatory surgical centers (ASC), and clinics.
The pandemic has put pressure on frontline healthcare workers to follow strict cleaning and disinfection protocols as they are specifically at risk of contracting and spreading the infection. This has triggered the need for sterilization measures enacted during surgical procedures due to concerns of COVID-19 transmission among hospitalized patients.
The World Health Organization (WHO) has advised personal protective equipment (PPE) industry and governments to ramp up their manufacturing by 40% to cater to surging worldwide demand. This high pool of medical equipment with need for proper sterilization will bode well for biological & chemical indicators market in immediate future.
Biological & Chemical Indicators Market – Competitive Intelligence
The global biological & chemical indicators market is highly consolidated with top 5 players - 3M Company, Steris Plc., and Thermo Fisher – collectively accounting for around 4/5 of overall market revenue. In order to sustain competition due to increasing number of new and small companies, leading players are focusing on mergers and acquisitions (M&A).
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About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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