Asia-Pacific Sterilization Technology Market Set for Lucrative Growth in Coming Years

[Pramod Kumar]

The global sterilization technology market will register huge expansion in the coming years, as per the estimates of P&S Intelligence, a market research company based in India. The factors driving the advancement of the market are the rising incidence of healthcare associated infections (HAIs), the increasing requirement for sterilized pharmaceutical products, the growing requirement for less invasive surgical procedures, and the surging population of geriatric people in various countries around the world.

Healthcare associated infections or infections acquired from healthcare facilities such as ambulatory service centers, clinics, and hospitals are highly prevalent across the globe. The rising prevalence of these infections is augmenting the mortality rates and causing huge financial losses for healthcare organizations. As per the findings of the World Health Organization (WHO), nearly 10 people out of every 100 hospitalized persons are likely to be infected with at least one healthcare associated infection in the developing nations.

As per a 2016 World Health Organization publication, nearly 266.2 to 359.5 million surgeries were performed across the world in 2012. The high incidence of obesity is one of the major factors responsible for the growing requirement for surgeries. This is because obesity propels the requirement for bariatric surgeries, on account of the fact that these surgeries are highly effective for treating obesity. Based on application, the sterilization technology market is divided into pharmaceutical sterilization and medical devices sterilization.

This will be a result of the soaring geriatric population, the increasing healthcare expenditure, the expanding pharmaceutical industry, the escalating pollution levels, and the flourishing medical tourism industry in the regional countries. As per the findings of the World Bank, in South Asia, the total healthcare expenditure was 3.9% of the region’s gross domestic product (GDP) in 2000. Furthermore, this share grew to as much as 4.4% of the GDP in 2014.

Hence, it can be said with surety that the market will demonstrate rapid advancement across the world in the upcoming years, primarily because of the increasing incidence of healthcare associated infections and the growing public awareness about the importance of sterilization during medical procedures.

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