Albany, NY -- (SBWIRE) -- 04/19/2019 -- One of the essential aspect across all clinical research and medical facilities is to control microbial contamination, which keeps patients, caregivers, and their assistants at the risk of getting infected. Owing to their importance, a number of products have been developed that aid to the decontamination of medical environments and are differentiated by the potential residual damage, affectivity, cost, and operation limitations. One such system is hydrogen peroxide vapor (HPV) decontamination systems that can sterilize and controls infected surfaces, doing so by removing moisture from the atmosphere and relay liquid hydrogen peroxide through the vaporization module.
According to the findings of a recent business publication from Transparency Market Research (TMR), the overall demand in the global HPV decontamination systems market will mount at a notable CAGR of 6.7% during the forecast period of 2016 to 2024, by the end of which the total opportunities in this market are estimated to reach US$220.05 million.
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Vast Opportunities for New Players
The analyst of the TMR report has detected as fairly open market scenario in terms of shares, which is a reflection of HPV decontamination systems being quite newer in comparison to ultraviolet C decontamination, which are inexpensive too. Most of the players connected to the value chain of HPV decontamination systems, such as Panasonic Biomedical Sales Europe BV, Bioquell PLC, Getinge Group, Steris Corporation, Fedegari Autoclavi SpA, Howorth Air Technology, TOMI Environmental Solutions, Inc., SKAN AG, Sterilucent, Inc, MBRAUN, and Labotal Scientific Equipment Ltd., are concentrating on developing efficient and professional solutions that can achieve more in less time. Additionally, compliance with regulatory standards across different countries is another key aspect for the vendors to maintain inflow of consistently increasing demand.
Application-wise, the market for HPV decontamination systems is segmented into rooms and facilities, isolators, autoclave or cage washer, and incubators. Over the course of 2016 to 2024, the isolators segment is projected to increment at an above-average CAGR of 7.9%, having generated more than 30% of the total demand as of 2015. Geographically, North America and Europe are expected to sustain their position as the regions with maximum demand potential until 2024.
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Essentiality Greatest Demand Driver
Apart from the essentiality of decontamination measures, stringent government regulations are pushing the demand. It is imperative that medical facilities and clinical research facilities are routinely cleaned and thereby the susceptibility of pathogens are reduced. In 2014, the WHO highlighted the issues pertaining to antibiotic resistance of pathogens such as clostridium and MRSA. In the recent past, the occurrences of infectious diseases has multiplied several times and thereby, the demand for the emerging segment of decontamination systems including HPV.
On the other hand, substantial cost of these equipment are keeping them away from larger pool of potential customers, particularly in the rural parts of the emerging economies. As a result, the vendors operating in this market are being well advised to develop tools and technologies that can reduce the prices, which in turn will help them gain ground over their competitors as well as enabling catering to greater demands.
Global HPV decontamination systems to be worth US$220.05 million by 2024
Demand slowly shifting from UV-C decontamination systems, which are cost-effective and ubiquitous