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Global Sterilization Equipment Market Growth Overview, Size, Future Trends, Share, Opportunities and Forecast to 2030

09-20-2022 08:53 AM CET | Media & Telecommunications

Press release from: Inkwood Research

STERILIZATION EQUIPMENT MARKET

STERILIZATION EQUIPMENT MARKET

According to Inkwood Research, the Global Sterilization Equipment Market is projected to register a CAGR of 6.95% in terms of revenue during the forecasting years of 2019-2028.
"Browse 58 Market Data Tables and 49 Figures spread over 170 Pages, along with an in-depth TOC on the Global Sterilization Equipment Market Forecast 2019-2028."

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Sterilization entails killing all life forms found in the environment, such as fungi, spores, viruses, bacteria, etc., capable of transmitting diseases and infections. Sterilization equipment are appliances and devices utilized for the physical and chemical process of sterilization. They are used by various divisions like the medical and food industry, spacecraft, pharmaceutical factories, and laboratories, among others, where infection spread must be avoided. Moreover, numerous research institutions associated with research against bacteria and viruses require sterilization equipment for neutralizing their environment.

Increasing Number of Surgical Procedures Facilitates Market Growth
Surgeries across the world are increasing, mainly due to the rising number of chronic illnesses and injuries. According to the data issued by the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of deaths, accounting for over 17 million fatalities, globally. They entail a group of heart and blood vessel disorders, including rheumatic heart disease, coronary heart disease, and cerebrovascular disease, among others. As a result, the number of surgeries related to CVDs is on a constant rise.
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Hospital and Clinics are the Prominent End-users
Hospitals and clinics are the predominant sources of developing hospital-acquired infections (HAIs), across emerging and advanced markets. As a result, numerous measures are ensured by the hospital administration, doctors, nurses, and other health professionals to control their transmission. However, the likelihood of developing such infections is very high during extended hospital stays, linked mainly to the treatment of chronic diseases. Thus, modifications regarding the prevention and control of HAIs, through collaboration with different clinical departments and the information technology (IT) team play a significant role in reducing the risk of transmission. Also, these partnerships can be made within a hospital or across a chain of hospitals.

North America to lead and dominate the Global Market by 2028
North America is set to be the prominent market in terms of revenue share and CAGR by the end of the forecast period. The United States is the leading producer and consumer of sterilization technologies, and devices in the region. Likewise, Canada is expected to foster a massive potential for sterilization equipment. The growing geriatric population, rising number of hospital-acquired infections, and increasing healthcare expenses are attributed to driving the region's market growth.
Several facilities and establishments have begun the adoption of innovative sterilization technologies and technically advanced appliances. As a result, the industrial rivalry and the intensity of competition are expected to remain high. Distinguished players in the market include, Advanced Sterilization, MMM Group, 3M Company, Cardinal Health, Steris Corporation, Belimed AG, etc.

Related Reports:
GLOBAL DISINFECTANT SPRAYS AND WIPES MARKET
GLOBAL UV LED MARKET
GLOBAL ASEPTIC PROCESSING MARKET

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