North America dominates the global market for sterilization technologies due to rise in number of hospital acquired infections and increasing geriatric population in the region. Asia is expected to experience high growth rate over the next five years in the global sterilization technologies market. China and India are projected to be the fastest growing markets in the region. The key driving forces for the sterilization technologies market in developing countries are the large pool of patients, increasing awareness about diseases, rising prevalence of infectious diseases, improving healthcare infrastructure, and rising number of surgeries.
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Rise in number of hospital acquired infections, increasing geriatric population, rising number of surgeries, increasing prevalence of various diseases such as cancer and tuberculosis, increase in healthcare expenditure, increasing demand of sterilization in various industries such as the food industry are some of the key factors driving the growth of the global sterilization technologies market. However, complex regulatory frameworks, shifting trend towards utilization of disposable medical devices, high cost of sterilization equipments, and economic slowdown are major restraints for the growth of the global sterilization technologies market.
Technological advancements such as E-beam radiation and gamma sterilization are anticipated to create opportunities for the global sterilization technologies market. Contract sterilization service is a major trend in the global sterilization technologies market.
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Major companies operating in the global sterilization technologies market are Matachana Group, Honeywell International Inc., Getinge Group, 3M Company, Belimed AG, CISA Group, Advanced Sterilization Products, Synergy Health, plc, Sterigenics International LLC, Nordion, Inc., and STERIS Corporation.
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