PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1100671
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1100671
The global steam and hydrogen peroxide biological indicators market size was USD 580.7 million in 2021. The global market will exhibit a stellar growth of 8.2% during the forecast period.
A biological indicator (BI) gives a direct assessment of lethality as well as confirmation of sterilizing procedure efficacy. Biological indicators, depending on the kind, can be employed in a variety of sterilizing methods involving steam, hydrogen peroxide, ethylene oxide, and various other gases.
The increased emphasis on sterilization in healthcare institutions, pharmaceutical and biotechnology industries, and food and beverage industries is the key factor driving the worldwide market growth. Furthermore, rigorous government regulations to prevent contamination, in conjunction with new product releases by key competitors, promote market expansion throughout the forecast period. Current leading and domestic enterprises are extending their geographical presence and manufacturing facilities as a result of the robust expansion in the pharmaceutical and medical device industries. As a result, there is a high demand for sterilization devices, and the use of biological indicators in these industries is increasing in order to ensure sterilization. As a result, the global steam and hydrogen peroxide biological indicators market is predicted to expand rapidly over the forecast period.
Globally, the increased frequency of chronic diseases, rising healthcare costs, and increasing diagnosis create a big patient pool requiring surgical procedures. According to a study published in the Lancet, roughly 313 million surgical procedures are performed globally each year. This causes a high demand in healthcare facilities for surgical equipment and reusable devices such as clamps, forceps, scissors, and so on. A significant risk of surgical operations is the introduction of harmful microorganisms, which can result in a hospital-acquired infection (HAI). To combat the rising prevalence of HAIs, regulatory organizations are working on implementing various recommendations, with an increased emphasis on sterilization in healthcare settings, to maintain patient safety and reduce the expenses associated with HAIs. As a result, healthcare facilities around the world are increasingly in need of modern and improved sterilizers.
Sterilizer demand and acceptance are generating the need for sterilization monitoring instruments, such as steam and hydrogen peroxide biological indicators. These elements, together with market participants' developments in biological indicators, are facilitating market adoption of these indicators. For instance, Spordex Self-contained Vials Biological Indicator (SCBI) Ampoules for steam sterilization were announced by STERIS in December 2020.
Steam and Hydrogen Peroxide Biological Indicators Market is segmented on the basis of product type, application, and region.
On the basis of product type, the market is segmented into self-contained vials, spore strips, and spore suspension.
The segment of self-contained vials made the most revenue globally. Because of the multiple benefits, the dominance is fueled by a higher rate of adoption in both developed and developing economies. SCBIs (self-contained biological indicators) provide quick, visible, consistent, and reliable findings, ensuring that the sterilizing process is working properly. This, together with a slew of new and innovative product introductions, is expected to drive the market's growth rate over the forecast period.
The market is divided into healthcare facilities, pharmaceutical & medical devices firms, and others based on application.
In 2020, the healthcare facilities segment dominated the worldwide market. The segment's dominance is attributed to an increase in the number of healthcare facilities stressing sterilization due to the rising occurrence of hospital-acquired infections. For instance, According to the National Nosocomial Infections Surveillance (NNIS) system, around 5% - 10% of patients receive at least one hospital-acquired infection as a result of contaminated devices, items, or other causes.
During the predicted period, pharmaceutical and medical device industries will benefit from stringent government restrictions to prevent contamination and undergo sterilization.
The market consists of small, medium, and big corporations that are attempting to preserve their dominance by focusing on expanding their facilities to meet the increased demand for sterilization from healthcare facilities. Furthermore, other important companies are attempting to preserve their position in the marketplace by implementing methods such as alliances and partnerships in order to acquire a competitive advantage over their competitors.
For instance, in January 2021, STERIS announced the acquisition of Cantel Medical through its U.S. subsidiary.
The scope of this report covers the market by its major segments, which include as follows: