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Developments in Healthcare to Boost the Ionizing Radiation Sterilization Market: TechnavioTechnavio market research analysts forecast the global ionizing radiation sterilization market to grow at a CAGR of close to 7% during the forecast period, according to their latest report. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170818005275/en/ 
Technavio has published a new report on the global ionizing radiation sterilization market from 2017-2021. (Graphic: Business Wire) The market study covers the present scenario and growth prospects of the global lab radiation sterilization market for 2017-2021. The report also lists pharmaceutical companies and healthcare facilities as the major end-user segments. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Technavio analysts highlight the following three market drivers that are contributing to the growth of the global ionizing radiation sterilization market:
Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Revenue potential of APAC Many research centers and laboratories are expected to be set up in APAC during the forecast period, due to which this region provides significant potential for growth during the forecast period. Moreover, the countries in APAC have devised incentive plans for investments in R&D. Most of the incentives come in the form of tax deductions for the investor. For example, China has a 150% pre-tax deduction that can be claimed for eligible R&D activities, whereas Australia offers a tax refund of 45% for R&D entities with a turnover of less than USD 20 million per annum. Also, in several countries like Singapore, China, and South Korea, the government has taken steps to ensure investment in research, particularly in the biomedical sector, over the next five years. "With the growth of end-users in China, India, and Australia, APAC is expected to grow into the largest market for ionizing radiation sterilizers and other laboratory equipment by 2030. Further, the steady improvement in healthcare infrastructure in these countries will bring about demand for ionizing radiation sterilizers during the forecast period," says Amber Chourasia, a lead analyst at Technavio for lab equipment research. Developments in healthcare sector Several countries worldwide are investing significantly in improving their healthcare infrastructure. According to the CDC, in 2011, about 75,000 patients in the US succumbed to hospital-acquired infections during hospitalization, and almost half of these occurred outside the intensive care unit. With such statistics, there is increased awareness about cleanliness and sanitation in hospitals. Advanced sterilizers such as ionizing radiation sterilizers are being used to ensure efficient sterilization of equipment and devices, which will increase demand in this market. "The growing popularity of ionizing radiation sterilizers, especially E-beam sterilizers for the advantages it offers, along with the increase in the number of healthcare facilities and expansion of existing facilities will be one of the drivers for market growth during the forecast period," says Amber. Extensive use of gamma radiation sterilization With advances in technology, more applications of gamma radiation sterilization are being investigated. The expansion of applications in the food and chemical, and spa and salon industries has led to the development of novel designs optimized for the new applications. The vendors have taken up the challenge to continue product innovation in congruence with the industry concerned, be it food, healthcare, chemical, or wellness. In the healthcare sector, sterilization of packed drugs and medicine boxes needs to be carried out to prevent contamination, which can be achieved only through gamma radiation sterilizers. Even sterilizations of flue gases in the food industry can only be achieved by gamma radiation sterilizers. Of late, in the field of nanomaterials, structured engineered materials (such as sorbents, composites, and ordered polymers) and natural polymers, used for making equipment, are also being sterilized by gamma radiation sterilizers for accuracy and efficiency. Therefore, a wide range of applications for gamma radiation sterilization will drive demand in this market during the forecast period. Browse Related Reports:
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