Sterilization processes are mostly used to sterilize and disinfect surgical equipment owing to its direct patient contact during surgery. The growing use of these processes to prevent hospital-acquired infections will promote the growth for chemical indicator inks over the coming years. As per Global Market Insights Inc., “Chemical Indicator Inks Market size worth USD 35 million in 2015, is anticipated to reach USD 78.30 million mark by 2024, growing at a CAGR of 7% over the period of 2016-2024.” In addition to this, advanced sterilization processes such as vaporized hydrogen & plasma, steam, ethylene oxide, and formaldehyde are predicted to further stimulate the chemical indicator inks market growth over the coming years. The global surgical instrument industry produced a revenue over USD 5.5 billion in 2015 and is expected to boost industry growth significantly.
Sterilization processes have a great significance in surgical equipment industry and is classified into steam, formaldehyde, vaporized hydrogen & plasma, and ethylene oxide process. Steam sterilization process produced revenue of USD 15 million in 2015 and is mostly preferred in medical sterilization application as it is nontoxic, sporicidal, microbicidal, heats quickly, and penetrates fabrics.
Ethylene oxide sterilization process is anticipated to record a CAGR of 8% over the period of 2016-2024 owing to its use in pharmaceutical & medical products sterilization as well as its use in low temperature applications. Formaldehyde sterilization process is projected to record a CAGR of 7% over the forecast timeframe, owing to its use as a disinfectant for deactivating microorganisms through alkylation.
Global chemical indicator inks market is primarily driven by its applications in thermoformed trays, sterile bags, tapes, sterile bottles, IV & blood containers, pouches, refillable syringes, and tags & labels. They are also used in canned foods like fish & meat to provide information about the sterilization process completion and thus avoid excessive overheating of foods resulting in retention of food nutrients. Chemical indicator inks market demand in Sterile bags applications was over USD 3.5 million in 2015 and is predicted to increase over the forecast period.
Water-based chemical indicator inks market is predicted to witness highest gains at 8% over the forecast period owing to strict government norms favoring solvents such as water due to their ecofriendly features.
TOC of this report:
Chapter 3. Chemical Indicator Inks Market Insights
3.1. Industry segmentation
3.2. IndustrySize and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distribution channels
3.4. Industry Impact forces
3.4.1. Growth drivers
220.127.116.11. Robust demand in surgical instruments
18.104.22.168. Rising awareness of sterilization procedures along with stringent governmental regulations for sterilization
3.4.2. Industry pitfalls & challenges
22.214.171.124. Various manufacturing and operating factors affecting chemical indicators accuracy and efficiency
3.5. Growth potential analysis
3.6. Porter’s analysis
3.7 Company market share analysis, 2015
3.7.1. Strategy dashboard
3.8. PESTEL analysis
3.9 Pricing trends