Plasma Sterilizers Market - Growth Drivers and Challenges
Growth Drivers
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Rise in Prevalence of Hospital Acquired Infections (HAIs) - It was found that there were 107,600 patients worldwide affected by HAIs, and the majority were older than 50. Only 50% were male. A total of 25% of patients had HAIs, and 7 % had HAIs per 1000 patient-days.
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Increasing cases of HAIs in hospitals and other healthcare settings have contributed to a surge in the demand for sterilization equipment as a result of COVID-19 spreading. Additionally, the increasing number of long-term hospitalizations in developing countries results in the emergence of various HAIs among patients, including infections of the bloodstream, urinary tract infections (UTIs), and ventilator-associated pneumonia. Therefore, to control the spread of infections in hospitals, the demand for plasma sterilizers is expected to increase over the forecast period.
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Surge In Number of Surgical Procedures Performed Annually- It was observed that over 300 million major surgeries are performed in the world each year. Of these, approximately 45 million are performed in the United States, while 22 million are performed in Europe.
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Globally Increasing Exports of Medical Sterilizers-The International Trade Center (Trademap) reports that the value of medical sterilizers exported worldwide in 2020 was USD 1,220,335 thousands, an increase over USD 1,118,283 thousands in 2019.
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Growing Global Healthcare Expenditures- According to World Bank data, global healthcare expenditures reached USD 9.83 billion in 2019, up from USD 9.7 billion in 2018.
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Rising Initiatives in Research and Development Operations- According to the World Bank, there were 1,597 researchers per million people engaged in R&D activities globally as of 2018, an increase from 14,12 researchers per million in 2015.
Challenges
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High Cost Associated with the Plasma Sterilizers
- Plasma sterilization has an expensive maintenance process since it is corrosive and sterile in nature. The service cost of plasma sterilization is also quite high. Hence, these factors are estimated to hamper the growth of the market over the forecast period.
- Availability of Non-Branded Product in the Market
- Stringent Government Regulations on Approval Process
Plasma Sterilizers Market Size and Forecast:
|
Base Year |
2025 |
|
Forecast Year |
2026-2035 |
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CAGR |
5.6% |
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Base Year Market Size (2025) |
USD 705.36 million |
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Forecast Year Market Size (2035) |
USD 1.22 billion |
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Regional Scope |
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