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(Health-NewsWire.Net, March 21, 2020 ) The biodecontamination market is projected to reach USD 175 million by 2024 from USD 130 million in 2019, at a CAGR of 6.1% from 2019 to 2024. Emerging economies are expected to provide a wide range of growth opportunities for players in the market.
“Pharmaceutical & medical device manufacturing companies to grow at the highest rate during the forecast period (2019–2024).”
On the basis of end user, the biodecontamination market is segmented into pharmaceutical & medical device manufacturing companies, hospitals & healthcare facilities, and life sciences & biotechnology research organizations. In 2018, the pharmaceutical & medical device manufacturing companies segment accounted for the largest market share and highest growth rate, owing to the growing adoption of biodecontamination products & services by pharmaceutical and medical device manufacturing industries to adhere to stringent regulations.
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“Asia Pacific to grow at the highest rate during the forecast period.”
The biodecontamination market in the Asia Pacific is expected to grow at a steady pace in the coming years. This is mainly due to the increasing number of hospitals and clinics, growing population, and government initiatives for improving healthcare infrastructure. The APAC is also the biggest exporter of pharmaceutical products in the world, which highlights the need to ensure the high quality of drugs for export and present opportunities for market players to enter into these markets.
Key Market Players
The major players operating in this market are STERIS (US), Ecolab, Inc. (US), TOMI Environmental Solutions, Inc. (US), JCE Biotechnology (France), Fedegari Autoclavi SpA (Italy), Zhejiang Tailin Bioengineering Co., Ltd. (China), Noxilizer, Inc. (US), Howorth Air Technology Limited (UK), Wenzhou Weike Biological Laboratory Equipment Co., Ltd. (China), ClorDiSys Solutions Inc. (US), and Amira S.r.l. (Italy).
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Key Questions Addressed in the Report:
1. What are the growth opportunities in the biodecontamination market across major regions in the future?
2. Emerging countries provide immense opportunities for the growth and adoption of biodecontamination products. Will this scenario continue during the next five years?
3. Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?
4. What are the various biodecontamination product & services and their respective market shares in the overall market?
5. What are the new trends and advancements in the biodecontamination market on the basis of regions?
MarketsandMarkets™
Mr. Sanjay Gupta
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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