Global Biological & Chemical Indicators Market is valued approximately USD 372.21 million in 2019 and is anticipated to grow with a healthy growth rate of more than 7.29 % over the forecast period 2020-2027. Biological indicators are test systems that contain viable microorganisms with a defined resistance to a specific sterilization process. They help monitor whether the necessary conditions were met to kill a specified number of microorganisms for a given sterilization process. Stringent good manufacturing practices (GMP) norms pertaining to laboratory testing and quality control of finished products is influencing pharmaceutical and biotech companies to incorporate sterilization practices driving the demand for Biological and Chemical Indicators.
Further the use of Enzymatic indicators as surrogate to conventional biological indicators offers advantages such as rapid delivery of results, minimal financial losses and reduces risks associated with Biological indicators. Thus, creating the demand for new indicators driving the market growth. The risk of infection during medical procedures such as surgeries augments the need for sterilization driving the demand for indicators. Thus, the increasing number of surgeries performed drives the market growth. Also, increasing incidences of Hospital acquired Infections (HAI) fuels the market growth. The Centers for Disease Control (CDC) estimates that HAIs cause about 1.7 million infections and 99,000 associated deaths every year in hospitals in the US alone.
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However, Inconvenience and Longer Processing Duration impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Biological & Chemical Indicators market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in number of surgeries and increasing prevalence of HAI in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing infections would create lucrative growth prospects for the Biological & Chemical Indicators market across Asia-Pacific region.
Major market player included in this report are:
Protak Scientific Ltd.
Thermo Fisher Scientific Inc.
Mesa Labs, Inc.
McKesson Medical-Surgical Inc.,
Crosstex International Inc.
Propper Manufacturing Co. Inc.,
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.