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.
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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.
About Inkwood
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research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises of North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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