Key Factors Driving Market Growth:
The rising incidence of hospital-acquired infections (HAIs), growth in the pharmaceutical and biotechnology industries, and increasing outsourcing of bio decontamination services are factors driving the growth of the Bio Decontamination Industry.
Revenue Growth Analysis:
The Bio Decontamination Market is projected to reach USD 175 million by 2024 from USD 130 million in 2019, at a CAGR of 6.1%.
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The equipment segment commanded the largest share of the Bio Decontamination Market in 2019.
On the basis of product & service, the Bio Decontamination Equipment Industry is segmented into equipment, consumables, and services. In 2018, the equipment segment accounted for the largest market share of Decontamination Equipment Market. The launch of new and advanced instruments, portability, and the reduced need for manual intervention are key factors driving the growth of this segment.
Chamber decontamination held the largest share of the Bio Decontamination Market in 2019.
By type, the Bio Decontamination Equipment Market is segmented into room and chamber bio decontamination. In 2018, chambers accounted for the largest share of the market. The large share of this segment can be attributed to factors such as lower power consumption, smaller footprint, and cost-effectiveness.
Hydrogen Peroxide to dominate the Bio Decontamination Market in 2019.
On the basis of agent type, the Bio Decontamination Equipment Market is segmented into hydrogen peroxide, nitrogen dioxide, chlorine dioxide, and peracetic acid. In 2018, the hydrogen peroxide segment accounted for the largest share of the Bio Decontamination Industry. The advantages offered by hydrogen peroxide, such as material compatibility and safety with minimum residue, are the major factors contributing to its dominance in the Bio Decontamination Sector.
Regional Growth Analysis:
North America commanded the largest share of the Bio Decontamination Market in 2019.
On the basis of region, the Bio Decontamination Equipment Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2018, North America commanded the largest share of the Bio Decontamination Industry. The large share of this regional segment can be attributed to the growing demand for bio decontamination technologies from the healthcare industry to minimize the occurrence of hospital-acquired infections and the presence of major players in the region.
Technology has brought about transformational changes in the healthcare industry over the past few years.
Medical establishments can now depend on their technology partners to provide them with healthcare technology solutions per their particular needs at reasonable costs.The healthcare industry is now constantly evolving, with new cures discovered daily.
The following are five salient benefits that technology has provided in the healthcare sector.Information when you need itPeople looking for a quick diagnosis of their symptoms usually consult the internet to understand the underlying causes for their ailment better.
It allows healthcare facilities to provide their patients with a seamless experience, thus allowing them to treat more patients in a day.
Robots that doctors control via a computer can carry out surgeries equipped with cameras, mechanical arms, and surgical instruments.
These robots assist doctors with a three-dimensional, magnified view of the surgical site, which significantly helps in the surgery.Faster Medical ResultsEarlier it would take anywhere from a couple of weeks to a month to get the test results.
