The Latin America, Middle East and Africa Bio Decontamination Market would witness market growth of 11.6% CAGR during the forecast period (2023-2030).
The market has a lot of growth potential in the healthcare sector. Affordable genomic sequencing, which can help with personalized cancer treatment, artificial intelligence algorithms capable of reading chest X-rays in addition to or better than radiologists, and significant improvements in population health management through big data &analytics have all been created by healthcare innovators. The market's response has eloquently highlighted its resilience and capacity to quickly bring items to market despite the enormous challenges that COVID-19 has imposed on the healthcare systems.
Reusable medical devices are also becoming more and more common in healthcare and medical settings, which is likely to promote market expansion because they can benefit patients and healthcare facilities by lowering costs, boosting safety, and enhancing the standard of medical treatment. Reusable medical gadgets are also preferred to disposable medical devices since they are more convenient and easier to handle. In addition, the market is anticipated to develop as more regulatory guidelines are established by health authorities for the efficient decontamination of reusable medical devices. These recommendations strongly emphasize the necessity of decontaminating reusable medical equipment to lower the risk of contamination and illness. Also expected to fuel the expansion of the bio-decontamination market is the rising awareness of healthcare-associated illnesses and how to prevent them.
The population of the Middle East is aging quickly, and as age is the primary risk factor for cancer, its incidence, and prevalence are rising amongst all the populations in the region. The World Bank 2012 report estimates that 4.7% of the 336 million people living in the Middle East & Northern Africa (MENA) are over 65. An enormous healthcare burden results from this aging population. The elderly population is more susceptible to developing life-threatening illnesses that may require surgery.
Additionally, the UAE healthcare industry has grown to accommodate both the country's expanding population and its aspiration to establish itself as a major regional center for medical tourism. Healthcare is a key region for the UAE government, according to Vision 2040, and the nation will continue to be a desirable place to establish a regional distribution center for healthcare services. The market in the LAMEA region has further potential prospects.
The Brazil market dominated the LAMEA Bio Decontamination Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,847.3 Thousands by 2030. The Argentina market would display a CAGR of 12.2% during (2023 - 2030). Additionally, The UAE market is poised to grow at a CAGR of 11.3% during (2023 - 2030).
Based on Agent Type, the market is segmented into Hydrogen Peroxide, Chlorine Dioxide, Paracetic Oxide, and Nitrogen Dioxide. Based on Product & Service, the market is segmented into Equipment, Services, and Consumables. Based on Type, the market is segmented into Chamber Decontamination, and Room Decontamination. Based on End User, the market is segmented into Pharma & Medical Device Companies, Life Science & Biotechnology Research Organizations, and Hospitals & Healthcare Facilities. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Bio Decontamination Market is Projected to reach USD 393.7 Million by 2030, at a CAGR of 7.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include STERIS PLC, Ecolab, Inc., TOMI Environmental Solutions, Inc., JCE Biotechnology SAS, Fedegari Autoclavi S.p.A., Zhejiang TAILIN Bioengineering Co., Ltd., Howorth Air Technology Limited, Solidfog Technologies SPRL, ClorDiSys Solutions, Inc., and Amira Srl.
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