Mixed Impact of COVID-19 on Sterilization Technologies Market Witnesses Slowdown in Elective Procedures in Short Term and Anticipated Robust Growth in Long Run - Market Report (2017-2026) by Industry Experts, Inc.
Monday 16 Nov 2020
Industry Experts, Inc. published an updated 2020 version of the report "Sterilization Technologies – A Global Market Overview". Analysts at Industry Experts estimate that the normalization in volumes is likely to occur once hospitals get relatively free from attending to the highs of COVID-19 and investigate addressing the unmet demand for elective surgical procedures at the end of 2020 and the beginning of 2021. This is bound to have a positive impact on the market for Sterilization Technologies.
Amid the COVID-19 pandemic, the global market for Sterilization Technologies is anticipated to record a robust growth during 2019-2021 period. Contrarily, due to deferred or cancelled elective procedures across the globe, the market for Sterilization Technologies is estimated to grow at a modest year-on-year (Y-o-Y) growth of just 4.3% in 2020, partially offset by increase in demand for sterilization of personal protective equipment (PPE) and demand from the life sciences sector amid overwhelming COVID-19 vaccine research programs.
As we pass through the Pandemic, hopefully, in 2021, a huge growth mainly expected from the medical equipment sterilization applications, we anticipate elective procedure volumes to begin to normalize as soon as hospitals get to the other side of COVID-19 peaks and can begin to address the pent-up demand for these procedures. In the long term, demand for Sterilization Technologies is projected to record a CAGR of 6.4% between 2019 and 2026 to reach US$13.7 billion by 2026.
The market for Sterilization technologies analyzed in this report comprise Filtration, Heat, Radiation and Chemical. Filtration is estimated the largest technology in the global Sterilization Technologies market, demand for which is also anticipated to register the fastest 2017-2024 CAGR of 6.9% and reach a projected US$8.4 billion by 2024. Sterilization Technologies' applications market analyzed in this study include Medical Equipment, Pharmaceuticals, Life Sciences and Other Applications (includes Food, Agriculture, Cosmetics, etc.).
This report reviews, analyzes and projects the Sterilization Technologies market for global and the regional markets including the North America, Europe, Asia-Pacific and Rest of World for the period 2017-2026 in terms of value in USD. These regional markets further analyzed for 12 independent countries across North America – the United States and Canada; Europe – Germany, the United Kingdom, France and Spain; Asia-Pacific – Japan, China, India and Australia; and Rest of World – Brazil and South Africa. The market is analyzed in each region by key country, sterilization technology and major application.
This 350 report on sterilization technologies market includes 197 charts (includes a data table and graphical representation for each table), supported with a meaningful and easy to understand graphical presentation, of the market. The statistical tables represent the data for the global market by geographic region, technology type and major application area. This study profiles 12 key global players and 39 major players across the North America – 26; Europe – 10; Asia-Pacific – 1; and Rest of World – 2. The report also provides the listing of the companies engaged in research & development, manufacturing, supply and provision of sterilization equipment, technologies and services. The global list of companies covers addresses, contact numbers and the website addresses of 114 companies.
California, USA based Industry Experts, Inc. is a multi-industry focused business information provider.
For more details, please visit: https://industry-experts.com/verticals/healthcare-and-pharma/sterilization-technologies-a-global-market-overview