Industry Experts, Inc. announced the publication of an updated 2018 version of the report “Sterilization Technologies – A Global Market Overview“. Analysts at Industry Experts estimate that the Medical Devices applications accounted for more than half of the global market for Sterilization technologies in 2018 and the phenomenon is expected to continue through to 2024.
Growth in demand for sterilization equipment and techniques is expected to be driven by greater emphasis on refurbishing of medical devices as a means of curbing expenses. Another factor reinforcing demand is the technological advancements made in medical instruments such as endoscopes and analyzers, which have, in turn, contributed to an increasing requirement for advanced sterilizers and techniques that are compatible with these instruments.
Cornering an estimated market share of 38.1%, equating to US$3.2 billion, in 2018, North America leads the global Sterilization Technologies market and is expected to register a 2017-2024 CAGR of 6% to reach a projected US$4.6 billion by 2024. The global market for sterilization technologies in 2018 is estimated at US$8.5 billion.
Industry Experts Inc.
14726 Ramona Ave