Published: Aug, 2018
The global sterilization wrap market features a competitive landscape in which various players are competing against one another on the basis of advanced products they are offering that come with an array of features, notes Transparency Market Research (TMR). Several players are engaged in developing sterilization wraps with better materials that promise increased bacterial filtration efficiency for a wide range of airborne and waterborne contamination, to consolidate their positions in the market. TMR observes that numerous top players are focusing on launching products that integrate features such as better flame resistance, anti-lint formation, better wear and tear resistance, and increased water repellent capacity, in order to stay ahead of others.
Leading players in the global sterilization wrap market include Cardinal Health, Inc., Halyard Health, Inc., DuPont, Cygnus Medical L.L.C., Robert Busse & Co., Inc., and Dynarex Corporation.
The global sterilization wrap market is anticipated to garner a substantial CAGR of 5.5% from 2017 to 2026. The market is projected to reach a worth of over US$85 million by the end of this period.
The various sales channels for sterilization wraps are trifurcated into hospital pharmacies, retail pharmacies, and online sales. Of these, the segment of hospital pharmacies is expected to hold the sway throughout the assessment period and is anticipated to reach a valuation of US$40 million by 2026 end.
On the regional front, North America is a potentially lucrative market and is anticipated to rise at a substantially growth rate over 2017–2026. The opportunities in the regional market is expected to cross a worth of US$30 million by the period end. The growth is fueled by burgeoning demand for sterilization wraps across healthcare facilities to combat infections.
Rising Adoption of Effective Infection Control Methods boost Market
The drive for sterilization warps in healthcare facilities stems from the intense need for adopting effective infection control methods world over. Sterilization wraps play a crucial role in ensuring better infection control among patients by providing excellent barrier control against a variety of contamination. This is a key factor underpinning their demand.
The rising demand for these sterilization wraps among clinicians in various developing and developed regions is a significant factor driving the overall market. This is in part attributed to the stringent implementation of government regulations on control of hospital-acquired infections and the spread of infectious diseases. Moreover, the growing awareness about infectious diseases caused by poor hygiene in hospitals is also bolstering the demand for sterilization wraps.
Advent of High-Performing Products expands Market Potential
The global sterilization wrap market is constantly witnessing growth momentum from the growing number of high-performing products in various parts of the world. The growing uptake of these products is positively influencing the patient outcomes, especially in hospital settings. The advent of products with innovative designs, effective anti-infectants, and advanced materials that cause minimal skin sensitivity is a crucial factor boosting the market. The notably rising expenditure in healthcare facilities in several developing and developed countries, coupled with increasing awareness about hygiene among patients and clinicians, is catalyzing the uptake of sterilization wraps.
The rise in investment by manufacturers to improve their product features is accelerating innovative product developments. The rising need for such products by healthcare providers is accentuating the market. The substantially rising adoption of such infection control products in developed nations is noteworthy in fueling the market growth.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Sterilization Wrap Market - (Product Type - Plastic and Polymers and Paper and Paperboard; End User - Hospitals, Ambulatory Surgical Centers, and Clinics; Sales Channel - Hospital Pharmacies, Retail Pharmacies, and Online Sales) - Global Industry Analysis, Share, Size, Growth, Trends and Forecast 2017–2026”.
The global sterilization wrap market is segmented based on:
- Plastic & Polymers
- Paper & Paperboard
- Ambulatory Surgical Centers
- Hospital Pharmacies
- Retail Pharmacies
- Online Sales
- North America
- Latin America
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