In this report, the authors have closely studied the current and future status of the market. They have accurately predicted the market size for each year of the forecast period considered in the report. As per their findings, the global market for bio-decontamination equipment could rise at a 5.56% CAGR to touch a US$ 156.741 Mn valuation by the end of 2025, improving from that of US$ 101.65 Mn obtained in 2017.
Global Bio-decontamination Equipment Market: Drivers and Restraints
High use of bio-decontamination equipment in hospitals and other healthcare institutions due to the rising concerns over the spread of hospital-acquired infection (HAI) is expected to create a whole lot of demand in the market. Rise of the geriatric population that is more susceptible to diseases could also fuel the demand for bio-contamination equipment.
Increasing number of government initiatives, improving awareness about decontamination, and growing investments in the research and development of new bio-decontamination equipment are foretold to benefit the market.
However, economic slowdown, expensive cost of products, and strict government regulations in some countries are anticipated to hamper the growth of the global bio-decontamination equipment market. Moreover, the long lifecycle of bio-decontamination equipment could discourage its adoption in end-use industries.
Nonetheless, rising number of technological applications of bio-decontamination equipment could create rewarding opportunities in the market. Increasing prevalence of infectious diseases that also affect the young could be another factor augmenting the development of the global bio-decontamination equipment market.
Global Bio-decontamination Equipment Market: Forecast by Product and Application
The report forecasts the market growth of two crucial products, viz. room decontamination and chamber decontamination. It also studies three key applications of bio-decontamination equipment, i.e. hospital and healthcare, bioscience research, and pharmaceutical manufacturing.
The market researchers have shed light on each and every product and application studied in the report based on consumption, revenue, share, price, production, and other critical factors that influence their market growth.
Global Bio-decontamination Equipment Market: Forecast by Region
The analysts have segmented the global bio-decontamination equipment market into six regions and countries: India, Southeast Asia, Japan, China, Europe, and North America. Followed by Europe, North America is foretold to rank highest in terms of market share. In 2017, it collected a share of more than 47.0%.
Europe and the U.S. are observed to provide most of the high-end products in the global bio-decontamination equipment market.
Each geographical market assessed in the report is broadly examined on the basis of various factors.
Global Bio-decontamination Equipment Market: Competitive Analysis
In 2017, nine of the leading companies operating in the global bio-decontamination equipment market accounted for a close to 80.0% share of the market. This shows that the market is a highly concentrated one.
JCE Biotechnology, TOMI Environmental Solutions, Fedegari Group, Bioquell, and STERIS Life Science are the top manufacturers of bio-decontamination equipment. Among these, STERIS Life Science leads the global bio-decontamination equipment market. In 2017, it secured a revenue share of over 38.0%.