(MENAFN- America News Hour) CRIFAX added a report on ' Sterility Testing Market, 2019 – 2028' to
its database of market research collaterals consisting of overall market
scenario with prevalent and future growth prospects, among other growth
strategies used by key players to stay ahead of the game. Additionally, recent
trends, mergers and acquisitions, region-wise growth analysis along with
challenges that are affecting the growth of the market are also stated in the
report.
The Sterility Testing Market is
estimated to witness dynamic growth over the next eight years. This growth can
be attributed to progression of technology and medicines due to rising number
of health ailments across the globe. This has further led to implementation of
advanced healthcare facilities via numerous health care initiatives and health
plans proposed by government bodies of various nations in order to provide
better care to the patients. According to World Health Organization, the total
healthcare expenditure (% of GDP) around the world increased from 9.2% in 2006
to 10.02% in 2016. The highest expenditure was recorded in the United States,
i.e., 17.07% in 2016 as compared to 14.66% in 2006.
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Additionally, growing rate of
technological advancements in healthcare has led to improved detection,
prevention and treatment of health problems. Moreover, improved efficiency
provided by electronic databases holding huge amount of medical records has
eliminated the errors and challenges faced while searching for patients'
medical history.
Growing rate of geriatric
population is another significant factor contributing to the growth of the Sterility
Testing Market . The elderly population is more prone to health
problems such as arthritis, cataracts, cancer, dementia and CVDs among others,
which requires continuing medical care, thereby driving vast demand for elderly
health facilities. According to W.H.O., the world's geriatric population, aged
60 years and older, is estimated to reach 2 Billion by 2050 from 900 million in
2015. These statistics are predicted to drive significant demand for old age
nursing and homecare facilities, which is further estimated to drive notable
opportunities in the global Sterility
Testing Market over the forecast period i.e. 2019-2028. Moreover, various health
initiatives to provide efficient prevention and control interventions to bring
down growing rate of health problems around the globe is contributing
significantly to the growth of the market. For instance, CDC (Centers for
Disease Control and Prevention), United States' leading health institute, introduced
health initiatives such as HI-5, Winnable Battles, Million Hearts, and 6|18
initiatives to focus on health problems that can be prevented.
Furthermore, to provide better
understanding of internal and external marketing factors, the multi-dimensional
analytical tools such as SWOT and PESTEL analysis have been implemented in the global Sterility Testing Market
report. Moreover, the report consists of market segmentation, CAGR (Compound
Annual Growth Rate), BPS analysis, Y-o-Y growth (%), Porter's five forces
analysis, absolute $ opportunity and anticipated cost structure of the market.
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