Apr 18, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Low Temperature Sterilization Market.
It was estimated prior to this unanticipated outbreak that the Low Temperature Sterilization Market is expected to grow from USD 1.6 billion in 2020 to USD 2.7 billion by 2026 at a CAGR of over 9.6% during the forecast period.
Low-temperature sterilization is the most widely used technology to sterilize moisture intolerant or heat-sensitive surgical equipment. Sterilization is a process in which all the microorganisms including bacteria and spores are killed. Some of the commonly used low-temperature sterilization methods include ethylene oxide, hydrogen peroxide gas plasma, and ozone.
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The growth of the global low-temperature sterilization market is primarily driven by the increasing incidence of hospital-acquired infections in patients specifically the ones that are receiving long-term treatment.
- The growing preference for low-temperature sterilization techniques over steam to sterilize heat-sensitive surgical equipment and supplies is expected to propel the market growth at a significant rate.
- Additionally, the increasing prevalence of chronic diseases such as cancer and diabetes and rising safety & hygiene consciousness among consumers is likely to add to the market growth.
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Based on the method, the market has been segmented into ethylene oxide, hydrogen peroxide gas plasma, ozone, and others.
- The ethylene oxide segment accounted for the largest market share in 2020 and is projected to grow at the fastest CAGR during the review period.
- The segment growth can be attributed to its widespread use in sterilizing both moisture-sensitive devices and heat-sensitive devices.
Geographically, the market in North America accounted for the largest market share in 2020.
- The regional market growth can be attributed to increasing incidences of hospital-acquired infections due to the prevalence of a large number of people having chronic diseases.
- Additionally, increasing regulatory policies regarding providing safe and improved healthcare services to patients is likely to drive regional market growth.
- The market in Asia-Pacific is expected to register the fastest growth during the review period on account of rising consumer awareness regarding hygiene and cleanliness & related infectious diseases.
Key players operating in the global Low Temperature Sterilization market are-
- 3M (The U.S),
- Gentinge AB (Sweden),
- Johnson & Johnson (The U.S),
- Steris Corporation (The U.S),
- Belimed AG (Switzerland),
- TSO3 INC. (Canada), Becton,
- Dickinson and Company (The U.S),
- Sterigenics LLC (The U.S.),
- Cantel, Medical Corporation (The U.S),
- E-BEAM Services, Inc. (The U.S), and
- Fortive (The U.S).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Low Temperature Sterilization analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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