Sterilization Equipment Market: Initiatives In Developing Countries For Covid-19 Vaccine Production And Tackling The Pandemic Situation To Drive Market Growth

 

Sterilization Equipment Market by Product and; Services {Equipment [Heat, Low-temperature (Ozone, Formaldehyde), Filtration), Consumables (Sterilization Indicators, Sterilants), Services (Gamma, Steam)], End User (Hospitals, Pharma)} - Global Forecast to 2027

Sterilization is one of the key processes in many industries, including healthcare. In the healthcare sector, this process plays an important role in eliminating, destroying, or killing biological entities to maintain a hygienic or sterile environment. This process is widely used in hospitals to prevent hospital-acquired infections. In pharmaceutical and biotechnology, the medical device manufacturing industry maintains a sterile processing environment within the facility during production or experiments as per the need. The entire sterilization process has been carried as per the standards designed by various authorities. The factors such as growing incidences of hospital-acquired infections, the impact of COVID-19 pandemic, rising number of surgical procedures, rising demand for sterilization in the food industry to prevent food-borne diseases, and increasing sterilization demand in pharmaceutical and biotechnology industries are expected to propel the sterilization equipment market.

Furthermore, the harmful effects of ethylene oxide and concerns regarding the safety of reprocessed instruments may hinder the overall sterilization equipment market's growth during the forecast period.

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The outbreak of COVID-19 has increased the focus on developing vaccine production across developing countries across Asia-Pacific, Latin America, and the Middle East & Africa. Thus, to have proper sterilization during vaccine production, there is a growing demand for sterilization products. Following are the examples of vendors producing vaccines during this pandemic:

• As per the data from Fierce Pharma, in April 2020, Sinovac Biotech Ltd. (China), one of many drugmakers seeking a COVID-19 vaccine, was leveraging China's aid to help it cross the finish line. For this, the company needs to build out a massive new facility on the government's dime. Hence, the company plans to build vaccine production facilities on 230,000 square feet of land to help speed the development of 100 million COVID-19 shots per year.
• In March 2020, CanSino Biologics Inc. (China) received regulatory approval to conduct a Phase I trial of its recombinant novel coronavirus vaccine (adenovirus type 5 vector) candidate. Moreover, the state-owned Wuhan Institute of Biological Products also received government approval to move ahead with trials.
• In February 2020, China Technology Exchange, Beijing Zhonghua Investment Fund Management, Biology Institute of Shandong Academy of Sciences, and Sinotek-Advocates International Industry Development (Shenzhen) partnered with Generex Biotechnology for the development of an Ii-Key Peptide-based Covid-19 vaccine.
• In March 2020, GeneOne Life Science collaborated with researchers at Houston Methodist Hospital to develop an RNA vaccine for Covid-19.
• In March 2020, GC Lab Cell (South Korea) is in the phase of developing cell therapy-based treatments for COVID-19 and is expecting to begin human trials in the second half of the year
• A subsidiary company of the China National Nuclear Corporation (CNNC) has started to adopt irradiation sterilization to increase protective clothing production efficiency. With this method, it is possible to sterilize over 10,000 medical protective suits within six hours. The irradiation sterilization mainly uses cobalt-60 and electron beams as radioactive sources.
• The Indian Council of Medical Research (ICMR), Center for Disease Control and Prevention (CDC), and the National Institutes of Health (NIH) are currently working on the co-development of three COVID-19 vaccines.
• Zydus Cadila is working on two vaccines. Serum Institute, Biological E, Bharat Biotech, Indian Immunologicals, and Mynvax are developing one vaccine each.
• Mesoblast Ltd. (Australia), a biotech company, increased its funding to USD 90 million for scaling up manufacturing and production of its Remestemcel-L drug to treat patients with COVID-19.
• Since February 2020, Seegene Inc (South Korea) ramped up its COVID-19 test kits production, which helped with the country’s rapid testing measures. The firm company sent its kits to countries in Europe and Asia and now waiting for U.S. FDA approval.
• Bukwang Pharmaceutical (South Korea) declared positive antiviral effects from trials of its hepatitis B drug clevudine on COVID-19 patients in South Korea.

Thus, such initiatives for boosting COVID-19 vaccines' production are expected to drive the sterilization equipment market at a CAGR of 12.2% to reach USD 23.73 billion by 2027, according to Meticulous Research.

The report includes a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presence, and key strategic developments adopted by leading market players in the industry over the past four years (2017-2020). The key players profiled in the sterilization equipment market are STERIS plc. (U.S.), Cantel Medical Corp. (U.S.), Getinge AB (Sweden), 3M Company (U.S.), Advanced Sterilization Products (U.S.), MMM Group (Germany), MATACHANA group (Spain), Cardinal Health, Inc. (U.S.), Sotera Health (U.S.), and Belimed (Switzerland).

TOP 10 COMPANIES IN STERILIZATION EQUIPMENT MARKET

ALTERNATIVE PROTEIN MARKET WORTH $36.61 BILLION BY 2029

Meticulous Research^® – a leading global market research company published a research report titled “Alternative Protein Market by Type (Plant Protein [Soy, Wheat, Pea], Insect Protein [Crickets, BSF], Microbial Protein [Algae Protein, Bacterial Proteins]), Application (Food & Beverages, Animal Feed and Pet Food, Nutraceuticals)—Global Forecast to 2029”.

According to this latest publication from Meticulous Research^®, the global alternative proteins market is expected to grow at a CAGR of 12.4% from 2022–2029 to reach $36.61 billion by 2029. This market is driven by the growing population and awareness about the benefits of alternative proteins, the increasing number of venture investments in alternative protein companies, the high nutritional value of edible insects, and the environmental sustainability benefits offered by alternative proteins.

Additionally, the increasing inclination towards a vegan diet provides significant growth opportunities for alternative proteins manufacturers. However, the high cost of alternative proteins and the significant preference for animal-based products hinder the growth of this market to a notable extent.

The alternative proteins market is segmented based on type, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.

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Based on type, the alternative proteins market is segmented into plant proteins, insect proteins, and microbial proteins. In 2022, the plant proteins segment is estimated to account for the largest share of the alternative proteins market. The large share of this segment is mainly attributed to the growing demand from food & beverage manufacturers, the increasing vegan population, the rising number of plant-based product launches, and the large presence of plant protein manufacturers. However, the insect proteins segment is expected to grow at the highest CAGR during 2022–2029. The high growth rate of this segment is driven by the growing demand for environmentally friendly protein-rich food and the rising number of investments in edible insect farming.

Based on application, the alternative proteins market is segmented into plant protein-based applications, insect protein-based applications, and microbial protein-based applications. In 2022, the plant protein-based applications segment is estimated to account for the largest share of the alternative proteins market. The large share of this segment is attributed to the growing vegetarian and vegan population, consumers’ rising demand for clean-label products, and the increasing number of investments and expansions by plant-based product manufacturers. However, the insect protein-based applications segment is expected to record the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the high nutritional value of insects, the increasing demand for novel food products, and the increasing acceptance amongst consumers towards the consumption of insect protein.

Based on geography, the alternative proteins market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is estimated to account for the largest share of the alternative proteins market. The large market share of North America is attributed to the increasing focus on producing protein using sustainable methods due to the rising environmental concerns and ethical aspects associated with animal proteins, the increasing vegan population, the rising number of investments in alternative protein products, the increasing demand for healthy & nutritional products, and technological advancements in the food industry. However, Asia-Pacific is expected to record the highest CAGR during the forecast period. The high market growth in Asia-Pacific is attributed to the increasing awareness regarding the importance of protein-rich diets, the increasing technological advancements in the food & beverages industry, rapid economic growth, and the wide availability of raw materials.

TOP 10 COMPANIES IN ALTERNATIVE PROTEIN MARKET

The key players operating in the global alternative proteins market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères (France), Ingredion Incorporated (U.S.), Kerry Group (Ireland), International Flavors & Fragrances, Inc. (IFF) (U.S.), Now Foods (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods Inc. (U.S.), Burcon NutraScience Corporation (Canada), Beneo GmbH (A Part of Südzucker AG) (Germany), Glanbia Plc (Ireland), Sotexpro (France), Farbest-Tallman Foods Corporation (U.S.), CHS Inc. (U.S.), Ÿnsect (SAS) (France), Enterra Feed Corporation (Canada), Protix B.V. (Netherlands), Entomo Farms (Canada), Global Bugs Asia Co., Ltd. (Thailand), Aspire Food Group (U.S.), EnviroFlight, LLC (U.S.), Haocheng Mealworm Inc. (China), JR Unique Foods Ltd. (Thailand), Armstrong Cricket Farm Georgia (U.S.), Rocky Mountain Micro Ranch (U.S.), Cricket Lab Limited (U.K.), DIC Corporation (Japan), Cellena Inc. (U.S.), Taiwan Chlorella Manufacturing Company (Taiwan), Cyanotech Corporation (U.S.), Bluebiotech International GmbH (Germany), Pond Technologies Holdings Inc. (Canada), E.I.D.-Parry (India) Limited (India), Tianjin Norland Biotech Co., Ltd. (China), MycoTechnology Inc. (U.S.), Enough. (U.K.), Corbion NV (Netherlands), Sun Chlorella Corporation (Japan), Plantible Foods, Inc. (U.S.), Parabel Nutritional, Inc. (U.S.), Far East Bio-Tec Co., Ltd. (Taiwan), Far East Microalgae Industries, Co. Ltd. (Taiwan), Roquette Klötze GmbH & Co. Kg (Germany), Yaeyama Shokusan Co., Ltd. (Japan), Unibio Group (Denmark), String Bio (India), Calysta, Inc. (U.S.), Angel Yeast Co., Ltd (China), and Lesaffre (France).

Key questions answered in the report-

• What are the high-growth market segments in terms of type, application, and countries?
• What is the historical market for alternative proteins across the globe?
• What are the market forecasts and estimates for the period of 2022–2029?
• What are the major drivers, restraints, and opportunities in the global alternative proteins market?
• Who are the major players in the global alternative proteins market, and what shares of the market do they hold?
• How is the competitive landscape in the global alternative proteins market?
• What are the recent developments in the global alternative proteins market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global alternative proteins market, and how do they compete with the other players?

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Advancements In Diabetes Care Devices, Rise In Obesity Rate And Unhealthy Lifestyle To Drive The Market Growth

Diabetes mellitus is a disorder that affects blood glucose levels. Diabetes in recent years has become one of the serious non-communicable disease-causing fatalities. According to the World Health Organization (WHO), in 2019, 1.5 million deaths were caused by diabetes. Moreover, the WHO states that diabetes is the ninth leading cause of death.

As we move towards technology and comfort, we are also adopting a sedentary lifestyle with low to no physical activity and unhealthy eating habits leading to obesity, excessive body fat, and diabetes. According to the International Diabetes Federation, 537 million adults were living with diabetes worldwide in 2021. Obesity is becoming increasingly common all around the world. Obesity has virtually tripled globally in the previous decade. As of 2019, about 39% of adults (18 years and older) globally were overweight. Obesity was prevalent among 40.0 percent of adults aged 20 to 39, 44.8 percent of adults aged 40 to 59, and 42.8 percent of persons aged 60 and above in the United States. Similarly, the United Kingdom has the highest obesity rate among European countries, with over one-quarter of adults (28.1%) obese and nearly two-thirds of adults (63.4%) overweight (Source: Global Diabetes Community, U.K.).

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In addition, harmful lifestyle choices such as smoking and eating a poor diet raise the risk of type 2 diabetes. Shift work, particularly night shift work, has also been linked to an increased risk of developing type 2 diabetes. Smoking is a key risk factor for diabetes, with smokers having a greater risk than non-smokers. The quantity of cigarettes smoked per day also determines acquiring diabetes. According to the World Health Organization (WHO), the global prevalence of tobacco smoking was 22.8% in 2020.

Self-management of diabetes is important in patients to reduce mortality risk, prevent long-term complications, and reduce healthcare costs. Diabetes care devices play a critical role in the self-management of diabetes. The glucose monitoring devices (GMD) help keep track of the blood glucose levels, and insulin delivery devices help administrate insulin dosages accordingly. Innovations in these devices make it easy and reliable for diabetic patients to manage diabetes without much effort. Devices like continuous glucose monitoring devices (CGMD) are integrated with insulin pumps equipped with automated algorithms and IQ-based technologies, leading to the measurement of blood glucose levels and administration of insulin in accordance with the glucose levels automatically.

Insulin pumps that can be implanted are still in the works. Implantable insulin pumps that assess blood glucose levels and provide the precise insulin dose required are being developed by research teams worldwide. This insulin pump is surgically implanted and can give a constant basal dosage of insulin and a bolus dose as necessary.

With recent developments in continuous glucose monitoring (CGM) and computer algorithms, closed-loop delivery systems or artificial pancreas (AP) development has gained traction. The AP connects three devices:

• A blood glucose (BG) sensor that transmits data to a computer algorithm
• A control algorithm that analyses the data and calculates the appropriate insulin dose
• An insulin infusion pump that delivers insulin according to the computer's instructions

Hybrid closed-loop systems are gaining popularity because they combine algorithm-driven automatic insulin delivery with manual mealtime medications.

Thus, the advancements in diabetes care devices, rise in obesity rate, unhealthy lifestyle, and the prevalence of diabetes are expected to drive the global diabetes care devices market at a CAGR of 6.7% to reach $31.9 billion in 2028, as per a detailed study by the Meticulous Research^®.

Diabetes Care Devices Market by Type [Diabetes Monitoring (CGM, Test Strips, Self-Monitoring Blood Glucose Meters, Lancets, Haemoglobin A1C Testing Kits)], [Insulin Delivery (Syringes, Pens, Pumps, Jet Injectors)] - Global Forecast to 2028

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past four years . The key players profiled in the global diabetes care devices market report are Novo Nordisk A/S (Denmark), Ypsomed AG (Switzerland), Abbott Laboratories (U.S.), Ascensia Diabetes Care Holdings AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), LifeScan IP Holdings, LLC (U.S.), Medtronic PLC (Ireland), Becton, Dickinson and Company (U.S.), Terumo Corporation (Japan), and Sanofi AS (France), Tandem Diabetes Care, Inc. (U.S.), Insulate Corporation (U.S.) and DexCom, Inc. (U.S.).

TOP 10 COMPANIES IN DIABETES CARE DEVICES MARKET

Related Reports:

Digital Diabetes Market by Product (SMBG, CGM, Smart Insulin Pump, Smart Insulin Pens, Software, Apps), End User (Home Care, Hospitals and Clinics), and Geography–Global Forecast to 2025 @ https://www.meticulousresearch.com/product/digital-diabetes-market-4946

𝐗-𝐫𝐚𝐲 𝐈𝐧𝐬𝐩𝐞𝐜𝐭𝐢𝐨𝐧 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐟𝐨𝐫 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜𝐬 & 𝐒𝐞𝐦𝐢𝐜𝐨𝐧𝐝𝐮𝐜𝐭𝐨𝐫𝐬 : "Increasing Automation of Digital X-ray."

According to a new market research report titled “X-ray Inspection Systems Market For Electronics & Semiconductor by Component (Hardware, Software, Services, Consumables), Imaging Technique (Film-Based Imaging, Digital Imaging), Dimension (2D X-Ray, 3D X-Ray), Application and Geography—Forecast to 2029”, published by Meticulous Research®, the X-ray inspection systems market for electronics & semiconductor is expected to grow at a CAGR of 11% from 2022 to 2029 to reach $772.8 million by 2029.

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X-ray inspection systems for electronics & semiconductors are used to detect defects or flaws in any electronic products without any destruction or disassembly. The adoption of X-ray inspection systems for electronics & semiconductors is increasing in the electronics & semiconductors industry as it offers defect detection without disassembly or destruction with high efficiency, precision, and speed, thus maintaining high product quality.

X-ray systems for electronics & semiconductors play an important role in product R&D, manufacturing, and installation processes. The end-user demand for X-ray inspection systems is increasing due to various factors, such as stringent safety standards, increasing consumer awareness for quality products and finished goods, rising security concerns, increasing manufacturing automation, and miniaturization of products and internal components.

Some of the major trends that are expected to support the growth of this market are the increasing application of AI in X-ray inspection systems and the growing adoption of CT inspection for production line applications.

Stringent government regulations for asset safety, increasing consumer awareness regarding quality standards, and the large-scale digitalization, automation, and miniaturization of electronic devices are driving the growth of the X-ray inspection systems market for electronics & semiconductors. Increasing automation of digital X-ray inspection systems, miniaturization of X-ray, inspection systems for higher mobility, and increasing user-friendliness due to technological advancements in hardware offer lucrative growth opportunities for this market's growth. However, the availability of substitute technologies and high equipment & maintenance costs are expected to restrain the market’s growth. The lack of qualified personnel is expected to remain a major challenge for market growth.

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Impact of COVID-19 on the X-ray Inspection Systems for Electronics & Semiconductors
The COVID-19 pandemic has negatively impacted most industries, globally. Some industries either shut down manufacturing operations following the directives issued by local governments or operated at minimal capacities to ensure social distancing and employee safety. The revenues of major companies decreased significantly due to halted operations. X-ray inspection is important for various industries, including electronics & semiconductors, automotive, aerospace, and oil & gas. Hence, the X-ray inspection systems market for electronics & semiconductors was moderately impacted due to reduced economic activity and operations. In 2020, the electronics & semiconductors industry suffered considerable losses due to the COVID-19 pandemic.

The semiconductor industry took a significant hit in 2020 due to acute raw material shortages and limitations on production, further impacting the electronics industry due to the decreased supply of semiconductor components. Also, the high demand for semiconductors across several industries coupled with disrupted supply chains and production shortages created a considerable demand-supply gap. The shortages were more severe in 2020, largely due to trade restrictions. Some companies reduced production and chip purchases due to fluctuations in the demand for end-use products. The demand for chips was very high and continues to rise among downstream sectors, including automotive, consumer electronics, aerospace & defense, oil & gas, and industrial robotics. However, the global supply chain for semiconductors has not yet fully recovered; therefore, the shortages are expected to continue in the coming years.

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PCB inspection, one of the major applications of X-ray inspection systems for electronics & semiconductors, witnessed a significant decrease in top-line revenues due to the COVID-19 pandemic. Disrupted supply chains and production losses also lowered the requirement for X-ray inspection services in the electronics & semiconductor industries. However, in response to the global semiconductor shortage, the semiconductor industry has optimized fabrication utilization surpassing the normal utilization level (80%). Front-end semiconductor fabrication facilities, or fabs, typically run above 80% capacity utilization, with some fabrication companies reaching even 90–100% capacity utilization. Over the past two years, the industry has steadily increased overall fab utilization and is estimated to further increase utilization during 2022 to meet the growing demand. Higher fab utilization to boost chip production is expected to increase the demand for X-ray inspection systems in semiconductor chip manufacturing during the forecast period.

X-ray Inspection Systems Market for Electronics & Semiconductors - Overview
The X-ray inspection systems market for electronics & semiconductors is segmented based on component, imaging technique, dimension, application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on component, the global X-ray inspection systems market for electronics & semiconductors is segmented into hardware, software, services, consumables. The hardware segment is expected to account for the largest share of the overall X-ray inspection systems market for electronics & semiconductors in 2022. The large market share of this segment is attributed to the high adoption of X-ray inspection systems hardware due to technological advancements in radiation sources, tubes, and flat-panel detectors.

Based on imaging technique, the X-ray inspection systems market for electronics & semiconductors is segmented into film-based imaging and digital imaging. The digital imaging segment is further segmented into direct radiography, computed tomography, and computed radiography. The digital imaging segment is expected to account for the larger share of the X-ray inspection systems market for electronics & semiconductors in 2022. The large market share of this segment is attributed to the advantages of digital imaging, such as the mitigation of chemical hazards associated with X-ray processes, lower radiation requirements for image production, enhanced image quality, faster processing time, quick image sharing & easy storage, and lower operation & maintenance costs.
The digital imaging segment is further segmented into direct radiography, computed radiography, computed radiography. In 2022, the direct radiography segment is expected to account for the largest share of the X-ray inspection systems market for digital imaging. Effective dynamic range, high contrast detectability, accurate image capture, less radiation exposure, high flexibility, and lower operational costs are the factors attributed to the large market share of this segment. Direct radiography is one of the most effective and accessible digital imaging technologies. Its features include effective dynamic range, high contrast detectability, accurate image capture, less radiation exposure, high flexibility, and lower operational costs.

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Based on dimension, the X-ray inspection systems market for electronics & semiconductors is segmented into 2D and 3D X-ray systems. The 2D X-ray systems segment is expected to account for the largest share of the X-ray inspection systems market for electronics & semiconductors in 2022. 2D X-ray systems help minimize radiation emissions and incur lower operational costs, resulting in the high adoption of these systems in electronics & semiconductor inspection processes. However, 3D X-ray systems segment is expected to witness a rapid growth during the forecast period. The demand for 3D X-ray systems is increasing rapidly due to various factors such as government regulations for security and safety; and rising demand for high-quality products, digitalization, and miniaturization. Owing  to this, various companies have started focusing on research and development and partnering with other industrial X-ray companies to bring 3D X-ray Inspection solutions to market. For instance, in January 2021, ViTrox Technologies partnered with MTSC (Thailand) Co., Ltd. to represent ViTrox for the distribution of ViTrox's Advanced 3D Optical Inspection (AOI) solution and Advanced 3D X-ray Inspection (AXI) solution in Thailand.

Based on application, the X-ray inspection systems market for electronics & semiconductors is segmented into PCB inspection, automated optical inspection, wafer inspection & packaging, solder joint inspection, advanced logic & memory, advanced power (GAN & SIC), displays & touch panels, electronic components inspection, RF & OPTO LED devices, solar, and others applications. The PCB inspection segment is expected to account for the largest share of the X-ray inspection systems market for electronics & semiconductors in 2022. Since printed circuit boards are made of various complex electrical parts, testing PCB for possible faults or errors becomes necessary to avoid malfunction, driving the use of X-ray inspection systems in PCB  inspection

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Based on geography, the global X-ray inspection systems market for electronics & semiconductors is segmented into five major regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia-Pacific is expected to account for the largest share of the X-ray inspection systems market for electronics & semiconductors in 2022. The increasing demand for remote visual inspection of assets in the electronics industry and stringent government safety rules are the major factors driving the growth of this market in Asia-Pacific.

The key players operating in the X-ray inspection systems market for electronics & semiconductors are North Star Imaging Inc. (U.S.), Nikon Metrology, Inc. (U.S.), Nordson Corporation (U.S.), YXLON International GmbH (Germany), VJ Group, Inc. (U.S.), Mettler Toledo International Inc. (U.S.), Ametek, Inc. (U.S.), Viscom AG (Germany), ViTrox Corporation Berhad (Malaysia), Test Research, Inc. (Taiwan), Baker Hughes Company (U.S.), Saki Corporation (Japan), Shenzhen Unicomp Technology Co., Ltd. (China), GÖPEL electronic GmbH (Germany), and Scienscope International (U.S.) among others.
 
TOP 10 COMPANIES IN X-RAY INSPECTION SYSTEMS MARKET FOR ELECTRONICS & SEMICONDUCTORS