World - World Sterilization Equipment and Supplies Market to Reach US$3.31 Billion by 2017

GIA announces the release of a comprehensive global report on Sterilization Equipment and Supplies market. The global market for Sterilization Equipment and Supplies is forecast to reach US$3.31 billion by the year 2017, primarily driven by factors such as growing concerns over possible outbreak of infectious diseases and need to control the same, increased reprocessing of medical devices and stringent regulations and standards that govern use of medical products and equipment.

Evolving technologies and robust demand from developing markets, particularly Asia-Pacific, also augur well for the market.

Sterilization is an essential yet often unnoticed process. In certain industries and manufacturing processes, sterilization holds special significance, particularly for medical devices, pharmaceuticals, biotech products, cosmetics, food and beverage, and electronic components. Further, sterilization becomes mandatory for several product classes, especially medical equipment that is keenly regulated by government to adhere to microbe control and contamination levels.

As medical technology grows in sophistication in terms of both products and services, the need for sterilization has assumed critical proportions, thereby driving market prospects for sterilization equipment and supplies. Growing concerns over possible outbreak of deadly infectious diseases, such as anthrax, swine flu, and fears over biological and chemical warfare are only contributing to the sterilization equipment and supplies market, as there is no better alternative than sterilization and disinfection to prevent and/or control infection and contamination.

Following temporary deceleration in market growth during 2009, primarily forced by the economic recession and tight budgetary conditions that pushed hospitals to postpone new equipment purchases during the year, the global Sterilization Equipment and Supplies market staged a remarkable comeback in the year 2010.

This swift recovery in market demand is primarily because the need to control infections, especially in medical facilities, and investments on the same go beyond temporary weakness in market climate. Government regulations that mandate use of sterilization and disinfection as standard procedures in medical practices, especially while handling medical equipment also make it impossible for healthcare sector to hold back investments on such equipment for long.

High demand for medical device reprocessing as a cost saving strategy in a weak economy also came as a boon for the market, as such reprocessed devices as use of such devices creates greater need for sterilization equipment and technologies.

Going further, the market will be driven by the need to upgrade or replace existing equipment, as healthcare providers look to equip their facilities with latest in technology. Rise in surgical procedures will additionally generate opportunities for sterilization equipment, given the fact that patient health and treatment outcomes depends on the level of disinfection standards maintained by hospitals including sterilization of instruments, objects, and devices used during patient care. Technological advancements will also play a significant role in boosting market prospects.

As stated by the new market research report on Sterilization Equipment and Supplies, the United States is the largest regional market. Asia-Pacific is the fastest growing regional market for Sterilization Equipment and Supplies with annual sales waxing at a CAGR of about 6.22% over the analysis period. Sterilization supplies represent the largest segment. Gas Plasma is the fastest growing product segment, with annual sales for the segment waxing at a CAGR of about 8.74% over the analysis period.

Key players in the market place include 3M Company, Advanced Sterilization Products, Cantel Medical Corp, Minntech Corporation, Getinge AB, L3 Pulse Sciences, SteriGenics International, Inc, STERIS Corporation, TSO3, and Tuttnauer Company.

The research report titled "Sterilization Equipment and Supplies: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, challenges, player profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in (US$) for geographic markets such as United States, Canada, Japan, Europe (France, Germany, the UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific, Latin America and the Middle East/Africa.

Product/process markets analyzed include Steam/Autoclave, Ethylene Oxide Sterilization, Gas Plasma Sterilization, Gamma Radiation, and E-Beam Radiation.

For more details about this comprehensive market research report, please visit -
www.strategyr.com/Sterilization_Equipment_and_Supplies_Market_Report.asp

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