In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSNovember, 2021: LTE Scientific Ltd acquires exclusive rights to sell Matachana products in United Kingdom.
June, 2021: STERIS plc announced the acquisition of Cantel Medical, global provider of infection prevention products and services to endoscopy, dental, dialysis and life sciences customers. The acquisition will let STERIS expand its product portfolio to sterilization products.
The global mobile sterile units market is estimated to grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Mobile sterile units can be used to sterilize medical and surgical instruments. The growth of the market can be attributed to the increasing demand for sterilization units that can be moved across the healthcare facilities. Moreover, establishment of hospitals in remote areas, is also estimated to increase the demand for mobile sterile units. Furthermore, these are lighter in weight and consume less space and energy, which can also assist in cost reduction for any smaller institution. Such factors are estimated to boost the market growth. Along with this, the increasing prevalence of hospital-acquired infections amongst the patients, is further anticipated to propel the market growth. According to the data by World Health Organization (WHO), in high-income countries, about 30% of the patients in intensive care units (ICU) are affected by at least one health care-associated infection. This rate is two to three times higher in low, and middle-income countries.
The market is segmented by type into cold sterilizers, steam sterilizers, gaseous sterilizers, ultraviolet sterilizers, and others, out of which, the ultraviolet sterilizers segment is anticipated to hold the notable share in the global mobile sterile units market over the forecast period on account of its quick sterilization action, along with rising adoption of advanced technology in the healthcare sector. On the other hand, the steam sterilizers segment is also estimated to gain significant share during the forecast period, owing to its lower cost and easy availability in the market. CLICK TO DOWNLOAD SAMPLE REPORT
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of geographical analysis, the global mobile sterile units market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing investment for enhancement of healthcare facilities. Moreover, the increasing geriatric population in the region is estimated to further expand the market growth. According to the World Bank statistics, in 2020, over 114,192,911 individuals were above the age of 65 years in the South Asia region. On the other hand, the market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of increasing healthcare expenditure, along with rising adoption of advanced technologies in the region.
The global mobile sterile units market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global mobile sterile units market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing demand for sterilization of medical equipment is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
Lack of awareness regarding hygiene in some underdeveloped regions is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the growing prevalence of hospital acquired infections in the region.
The major players in the market are Benchmark Scientific Inc., Astell Scientific Ltd., Getinge AB, Shinva Medical Instrument Co., Ltd., Belimed AG, Yamato Holdings Co., Ltd., Systec GmbH, Priorclave Ltd., LTE Scientific Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The steam sterilizers segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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