The global sterility indicators market size is expected to reach USD 1.24 billion by 2025, according to the study performed by Grand View Research, Inc. It is anticipated to expand at a CAGR of 10.9% over the forecast period. Strict regulations regarding healthcare products and high emphasis on sterility parameters and measures for the prevention of Hospital Acquired Infections (HAIs) are projected to drive the market growth.
Increasing number of geriatric population prone to chronic conditions is primarily driving the demand for drugs and medical devices globally. Governments in developing economies like India and China are focusing on providing cost-effective, high quality medications. The Union Cabinet of India has provided USD 13.16 billion to the National Health Mission (NHM) from April 2017 to March 2020. Currently, India has the highest U.S. Food and Drug Administration (FDA)-approved manufacturing facilities outside U.S. It also accounts for 22.0% of the overall approved U.S. FDA plants. Thus, demand for sterility testing services and products is anticipated to rise over the forecast period.
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Standardized manufacturing protocols, introduction of novel products, and adoption of new technologies has led to harmonization of quality and sterility testing standards in the healthcare industry. This has created a need for not only aseptic manufacturing techniques but also for efficient and reliable sterilization monitoring processes. Furthermore, organizations such as the Agency for Healthcare Research and Quality and Centers for Medicare and Medicaid Services are also raising awareness about the need for stringent regulations for safety and quality testing services of healthcare products. Such steps are anticipated to bode well for expansion of the sterility indicators market over the forecast period.
Further key findings from the study suggest:
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Grand View Research has segmented the global sterility indicators market on the basis of type, technique, end use, and region:
Sterility Indicators Type Outlook (Revenue, USD Million, 2014 – 2025)
Sterility Indicators Technique Outlook (Revenue, USD Million, 2014 – 2025)
Sterility Indicators End-user Outlook (Revenue, USD Million, 2014 – 2025)
Sterility Indicators Regional Outlook (Revenue, USD Million, 2014 – 2025)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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