Portland, OR, Sept. 29, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Sterility Indicators Market was estimated at $879.3 million in 2021 and is expected to hit $2.59 billion by 2031, registering a CAGR of 11.5% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market. The report is exclusively meant to help the readers with a comprehensive valuation of industry analysis and trends.
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Report coverage & details:
| Report Coverage | Details |
| Market Size in 2031 | $2.59 Billion |
| CAGR | 11.5% |
| No. of Pages in Report | 312 |
| Segments Covered | Type, Sterilization Process, End-user, and Region. |
| Drivers | Rise in the number of surgeries |
| Restraints | Certain equipment flaws in sterility indicators |
| Opportunities | Growing focus of the market players on fabricating highly advanced sterility indicators |
Covid-19 scenario-
- Rise in the number of R&D activities increased the number of sterilization procedures in biotechnology and pharmaceutical companies, which impacted the global sterility indicators market positively.
- Increase in production of drugs boosted the market growth even more.
The global sterility indicators market is analyzed across type, sterilization process, end-user, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on type, the chemical indicators segment accounted for more than three-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The biological indicators segment, simultaneously, would cite the fastest CAGR of 11.8% throughout the forecast period.
Based on sterilization process, the steam segment garnered around two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also project the fastest CAGR of 12.1% throughout the forecast period.
Based on end user, the pharmaceutical companies and medical device companies segment garnered more than three-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The hospitals segment, nonetheless, would project the fastest CAGR of 12.0% throughout the forecast period.
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Based on region, the market across North America generated nearly two-fifths of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, however, would showcase the fastest CAGR of 12.3% during the forecast period. The other regions studied in the report include LAMEA and Europe.
The key market players analyzed in the global sterility indicators market report include Fortive Corporation, Matachana Group, Cardinal, Crosstex International Inc., 3M Company, Getinge AB, STERIS plc., gke-GmbH, MMM Group, Hu-Friedy Mfg. Co., LLC, Mesa Labs, Inc., Anderson Products, Inc., Nelson Laboratories, LLC, NOXILIZER INC, and Propper Manufacturing Co., Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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