Favorable patient outcomes coupled with patient safety has been the major focus of several healthcare facilities since several decades. Moreover, the reputation of healthcare facilities is in stake in case its patients suffer from infections owing to improper or inefficient facility operations. This aspect has fuelled the use of sterilization wrap across various healthcare facilities such as hospitals and clinics. According to studies, sterilization wrap are a better and convenient solution against infections. Not only patients, but also the staff members or care takers of the facility are benefitted by these products. The main purpose being effective infection control, several players involved in sterilization wrap production have come up with new innovative wrap, for instance, developments such as enhancements in microbial barriers, improved resistance against lint, tear, abrasion and flame and better liquid repellent properties. This has triggered the adoption of sterilization wrap, thus contributing to the growth of the global market for sterilization wrap across the globe.
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Transparency Market Research (TMR) has presented a global outlook on the market for serialization wrap in its recent research report. The research report on global sterilization wrap market covers all aspects that have a major role in pushing the growth of the market which can be associated with the adoption and sales scenario of sterilization wrap across several healthcare facilities worldwide. The global perspective of sterilization wrap market can support in gauging future market scenario with the assistance of forecast analysis presented in the research report along with current and historical data.
According to TMR, the global market for sterilization wrap is expected witness substantial growth during the period of assessment, 2017-2026. The global sterilization wrap market is estimated to reach a valuation of more than US$ 85 Mn by the end of the period of assessment (2026) and is expected to grow at a robust CAGR throughout the said period.
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North America to be a Lucrative Region for Sterilization Wrap
North America region is expected to show high market attractiveness index for sterilization wrap in the coming years. The region’s lucrativeness is mainly pushed owing to increasing use of sterilization wrap in United States and Canada. US is the main contributor for growth of these products in North America. As per analysis, the sales of sterilization wrap in US is expected to cross US$ 25 Mn by the end of the forecast period. North America dominated the market in 2017 and is expected to continue with the status quo in the years to follow. The increasing adoption of sterilization wrap in this region can be attributed to the growing number of healthcare facilities in the region and increased awareness regarding infectious diseases coupled with growing concerns regarding personal hygiene. Sterilization wrap market in Europe is expected to be the second largest with respect market value during the forecast period.
Hospitals and Clinics to Reflect Similar Adoption Rates of Sterilization Wrap During the Forecast Period
Hospitals and clinics are few of the end users that have shown increasing adoption of sterilization wrap since past several years. In the end user category, hospitals segment is expected to be the most lucrative as it is expected to highly contribute to the revenue sales of sterilization wrap. This segment is expected to lead the global market. Moreover, the hospitals and clinics segments are projected to grow at the same CAGR of 5.6% throughout the period of forecast, 2017-2026.