Sterilization Monitoring Market Growing at a CAGR of 7.5% During 2017 to 2022 - ReportsnReports.com
PUNE, India, May 25, 2017 /PRNewswire/ --
Sterilization monitoring market is estimated to grow at a CAGR of 7.5% to reach $631.0 million by 2022. On the basis of technology, the sterilization monitoring market is segmented into biological monitoring, chemical monitoring, and mechanical monitoring. Based on the method the steam sterilization segment has the largest share.
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The global sterilization monitoring market is estimated to grow at a CAGR of 7.5% from 2017 to 2022 to reach USD 631.0 million by 2022. Factors such as technological advancements in sterilization monitoring products, rising focus on food sterilization, rising incidence of hospital-acquired infections, and increasing number of surgical procedures coupled with the rising geriatric population and chronic disease incidence are the major factors driving the growth of this market. On the other hand, lack of awareness on sterilization monitoring and dearth of skilled professionals are the major factors limiting the growth of this market.
On the basis of technology, the sterilization monitoring market is segmented into biological monitoring, chemical monitoring, and mechanical monitoring. In 2016, the biological monitoring segment is expected to account for the largest share of the market .Factors such as efficacy of biological indicators to monitor sterilization processes by killing the microorganisms directly as compared to the other sterilization monitoring techniques and increasing preference for BIs by various healthcare organizations to monitor sterilization processes are expected to drive the growth of this technology.
Based on the method of sterilization, the steam sterilization segment accounted for the largest share of the global sterilization monitoring market in 2016. The large share of this segment can be attributed to the non-toxic nature of steam and the low cost and efficiency offered by this method of sterilization in comparison to the other methods of sterilization. On the basis of end user, the hospitals segment accounted for the largest share of the global sterilization monitoring market in 2016. The rising prevalence of healthcare-associated infections (HAIs) coupled with the increasing number of surgeries is supporting the growth of the hospitals segment.
Based on process, the sterilization monitoring market is categorized into pack monitoring, load monitoring, equipment/process monitoring, and exposure monitoring. The pack monitoring segment accounted for the largest share of the global sterilization monitoring market in 2016. Pack monitoring helps identify problems related to human errors and sterilizer malfunctions such as inadequate humidification and inadequate exposure time at the selected temperature; such advantages are driving the market growth in this segment.
On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to command the largest share of the global sterilization monitoring market in 2017, followed by Europe. The sterilization monitoring market in North America is primarily driven by the growing demand for healthcare services in North America owing to an expected surge in the geriatric population and rising prevalence of chronic diseases in the coming years.
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The global sterilization monitoring market is highly competitive, with a large number of global and local players. In 2016, the global sterilization monitoring market was dominated by 3M Company (U.S.), Getinge Group (Sweden), Cantel Medical Corp. (U.S.), and STERIS plc (U.S.). Product launches & showcases and acquisitions were the major strategies adopted by market players to achieve growth in the sterilization monitoring market.
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