Global Chemical Indicator Inks Market 2017-2021
About Chemical Indicator Inks
Chemical indicator inks are commonly used to monitor one or more procedural parameters of a sterilization cycle. They provide a visual indication through the change in color of the ink on exposure to sterilants and other specific conditions. As sterilization is one of the most vital procedures carried out in the healthcare industry to avoid the spread of infection, appropriate sterilization of surgical instruments, equipment, and others for patient care and surgery is one of the critical aspects of the modern healthcare industry.
Technavio’s analysts forecast the global Chemical Indicator Inks market to grow at a CAGR of 7.99% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global chemical indicator inks market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Chemical Indicator Inks Market 2017-2021
Technavio recognizes the following companies as the key players in the global chemical indicator inks market: 3M, Getinge, LA-CO Industries, NOF Corporation, and RIKEN CHEMICAL.
Other Prominent Vendors in the market are: Crosstex International, Etigam, gke, North American Science Associates, Propper Manufacturing, STERIS, and Terragene.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is rising investment in medical industry. The increase in the spending in the medical sector is mainly dependent on the rise in population and change in lifestyle. The growing investment in the medical sector from countries such as the US, Germany, India, and China is expected to drive the demand for chemical indicator inks during the forecast period.”
According to the report, one of the major drivers for this market is Increased demand from medical industry. The chemical indicator inks are mainly used in the sterilization monitoring process. They act as visual indicators and change colors when exposed to certain sterilants and specific conditions. The sterilization procedures are predominantly used in surgical instruments, as they come in direct contact with the patient during any surgical procedure. Surgical instruments are commonly used for therapeutic segments such as dermatology, oncology, cardiology, neurology, general surgery, dentistry, and gastroenterology.
Further, the report states that one of the major factors hindering the growth of this market is Volatility in raw material prices. Main raw materials used for the production of chemical indicator ink are solvent, resins, colorants, and additives. One of the principal suppliers of raw materials for the global chemical indicator inks market is the oil and gas industry. The volatility in the crude oil prices has a severe effect on the prices of byproducts produced from crude oil, affecting the costs of petroleum solvents and resins, which in turn will affect the price of chemical indicator inks. The price of crude oil per barrel decreased at a rate of approximately 60% in 2016 as compared with 2015. High inventory levels and relatively high production lowered crude oil prices in 2016.
3M, Getinge, LA-CO Industries, NOF Corporation, RIKEN CHEMICAL, Crosstex International, Etigam, gke, North American Science Associates, Propper Manufacturing, STERIS, and Terragene.
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