The sterilization technology market will touch a value of USD 17,313.7 million by 2030, powering at a rate of 7.1% in the years to come, as stated by P&S Intelligence.
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China is experiencing advance in the industry because of its booming pharma sector, growing prevalence of chronic ailments, aging populace, growing air pollution levels, and promising regulations of the government.
As per the ITA, China is the second largest pharma market globally, and it will grow even further in the years to come.
The industry is powered by the increasing occurrence of HAIs, growing surgery count, and rising requirement for sterile pharma products.
North America was the leader of the pack in the sterilization technology market, with a share of more than over 40% in the past.
The development in the regional market is because of the increasing R&D activities of pharma companies, growing healthcare spending, thriving geriatric population, increasing hospital count, and mounting cases of nosocomial infections.
Furthermore, because of the growing prevalence of chronic ailments, healthcare providers are determined to offer sterile environments to patients, for avoiding any other risk of catching an infection.
With the increasing cases of HAI all over the world, the demand for sterilization technology will continue to increase even further by the end of this decade.
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