December 18, 2014
Wellesley, Mass., December 18, 2014 –BCC Research announces new market analysis data on the sterilization process market, projected to grow to nearly $11.9 billion in 2020. Worldwide need for sterile products relies on effective, rapid and economical technologies throughout the production process.
Safety and speed are the major determinants in sterilization; each aspect relies on expansion and innovation of sterilization processes and equipment. The global sales of sterilization capital equipment, consumables, and contract sterilization services are projected to grow at a compound annual growth rate (CAGR) of 5.6%. Several factors are driving the growth of the sterilization industry, including changing demographics, an emphasis on infection control, economic fluctuations and government regulations.
“Steady population growth coupled with an expanding over-65 global population and the medical conditions associated with aging contribute to the need for proper sterilization of devices used in medical procedures, as well as the sterilization of pharmaceutical and biopharmaceutical products,” says BCC Research analyst Peggy S. Lehr.
The United Nations Department of Economic and Social Affairs projects that the global population will increase at an average annual rate of 1.28%. The greatest percentage of change will occur in less-developed regions at a projected rate of 1.49%, whereas more-developed regions will grow at a rate of 0.29% annually.
Sterilization is a purification process vital to infection control and is used with medical products, pharmaceutical and research liquids and powders, food and beverages, industrial processes, and computer electronics.
Global Markets for Sterilization Technologies analyzes markets for filter, heat, chemical and radiation sterilization technologies. Industry trends are analyzed, and global revenue projections for the medical, manufacturing, pharmaceutical, and food and beverage equipment and consumables markets are provided for the period 2015 to 2020.
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Global Markets for Sterilization Technologies( CHM016G )
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