Sterilization Technology Market To Generate $17,313.7 Million in 2030

submitted 1 year ago by ResearchNews24 to health

The sterilization technology market valued $9,313.7 million in 2021, and it is projected to advance at a rate of 7.1%, to generate $17,313.7 million revenue in 2030. The rising number of hospital-acquired infection cases, surging volume of surgeries, and increasing sterile pharmaceutical product demand propel the industry.

Expansion of Pharmaceutical Sector in China

The industry in China has been experiencing continuous growth due to the expansion of the pharmaceutical sector, rising incidence of chronic diseases, surging geriatric population, increasing air pollution levels, and favorable government initiatives.

China already holds the second-largest share of the global pharmaceutical market, and it is projected to rise in significance in the coming years. Drugs and medical device production requires a fully-sterile environment. Moreover, the stringent regulations implemented by the China Food and Drug Administration prevent drug launches without proper caution and thus, propel the demand for sterilization technology.