March 30, 2017
Wellesley, Mass., Mar 30, 2017 – New proprietary research by BCC Research reveals that changing demographics, an increasing number of surgeries, growing emphasis on infection control, economic fluctuations and government regulations all are driving growth in the global market for sterilization technologies. Contract sterilization services and sterilization technologies are projected to reach a combined $10.3 billion in 2021, up from $8.0 billion in 2016.
BCC Research's Global Markets for Sterilization Technologies reports that although the sterilization market is mature, industry companies are seeking and exploiting available opportunities through strategies such as agreements, acquisitions, product launches and collaborations.
"The growing geriatric population, rise in hospital acquired infections and increase in healthcare expenditures are major factors contributing to growth and development of sterilization technologies in North America," says Kevin Fitzgerald, BCC Research editorial director. "The growing demand for sterilization technologies in this region's food and beverage industry and for treatment of imported food products, including herbs and spices, also is driving the market."
Asia-Pacific Forecast to Achieve Strong Growth
Asia-Pacific ranks behind the North America region, in terms of revenue. In 2021, this region's market is expected to total $2.5 billion, growing at a CAGR of 6.5% from 2016-2021. Foreign players are expanding their production sites in these emerging markets, which will also supplement market growth
"The key drivers in Asia-Pacific's emerging countries include a growing awareness about disease, large patient pools, increasing medical tourism, expansion of the processed food and beverage market and improving healthcare infrastructure. All are boosting the growth and development of sterilization technologies," says Fitzgerald. "
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Global Markets for Sterilization Technologies( CHM016H )
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