2014-04-11 09:36:03 - Global Sterilization Products and Services Market 2014-2018 - a new market research report on companiesandmarkets.com
The Global Sterilization Products and Services market is forecast to grow at a CAGR of 6.34 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing prevalence of hospital-acquired infection. The Global Sterilization Products and Services market has also been witnessing the increase in contract sterilization services. However, the stringent government regulations could pose a challenge to the growth of this market.
Key vendors dominating this space are Steris International Inc., Getinge AB, Advanced Sterilization Products Inc., and 3M Corp.
Other vendors mentioned in the report are Belimed AG, B. Braun Melsungen AG, Cardinal Health Inc., Cisa S.P.A., Honeywell International Inc., Matachana Group, Medivators, Nordion Inc., Synergy Health plc, and TSO3 Inc.
companies represent the key players in Global Sterilization Products and Services Market: Steris International Inc., Getinge AB, Advanced Sterilization Products Inc., and 3M Corp.
The changing dynamics of healthcare regulations, economic fluctuations, and the cost management strategies of the many medical device manufacturers, pharmaceutical product manufacturers and other life science products manufacturers are outsourcing their activities to third-party agencies or contract sterilization service providers. This trend is expected to continue during the forecast period. Hence, the Global Contract Sterilization Services market is expected to witness the fastest growth during the forecast period. This, in turn, is expected to bolster the growth of the Global Sterilization Products and Services market.
One of the major drivers in this market is the increasing prevalence of hospital-acquired infections. The prevalence rates are expected to increase in proportion to the increasing patient admittance in hospitals. Hence, sterilization methods and their products are required to inhibit the spread of infections.
Further, one of the major challenges in this market is the stringent government regulations. Delays in approval or rejection incur additional cost burden to the manufacturers.
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