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Sterilization Equipment Market Outlook

According to an October 2010 report by Global Industry Analysts (GIA), the worldwide sterilization equipment market could hit $2.7 billion by 2015 despite the global economic downturn.

Wed Aug 10 2011By Lanier Norville

According to an October 2010 report by Global Industry Analysts (GIA), the worldwide sterilization equipment market could hit $2.7 billion by 2015 despite the global economic downturn. This figure is predicated upon “the enduring need for efficient infection/contamination control measures, the ever-lurking threat of biological and chemical warfare and recurrent outbreaks of emerging infectious diseases such as swine flu,” the GIA report states.

The biggest market for sterilization devices is the U.S., but on the macro level, the BRIC countries (Brazil, Russia, India, and China) along with South Africa will be the next economic targets for medical device manufacturers. China and India are home to the two largest patient populations in the world, and providing equipment to treat their medical needs could help offset some of the long-term effects of the global recession.

The recession has affected every segment of the medical device market, including sterilization gear, which is traditionally one of the strongest performers, given its mission-critical status. The same problems that hinder the growth of the market at large are still in play here: limited funds, longer equipment lifecycles and a greater emphasis on device repair, refurbishment and reprocessing instead of new purchases.

The GIA report notes that a key driver of growth in the sterilization equipment market is the increasing number of surgical procedures that could spike with health care reform. A greater number of insured patients means more surgical procedures, placing emphases on the ability to increase both patient throughput and procedural outcomes, both of which will trigger demand for sterilization equipment.

 

Read full article in Medical Dealer Magazine.

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