Chemical Indicator Inks Market is primarily been driven by vigorous demand in surgical instrument markets for sterilization processes. It is anticipated to be valued at USD 83.8 million by the end of 2024. The demand is been increased due to growing medical and healthcare industries. The market estimates to grow at CAGR over 8% over the forecasted period.
The market predominantly covers through water based chemical indicator inks which is more than 60%. Rising R&D expenditure by the companies of this market will fuel the market to grow in forecasted period.
Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/chemical-indicator-inks-market/request-sample
Water based inks are expected to grow exponentially at a CAGR of 8% from 2016 to 2024. Inks usage in steam sterilization processes is accounted to cross 40% of the overall industry in 2015. Revenue generated from steam sterilization was more than USD 15 million. UV cured chemical indicator inks market made USD 18 million in 2015. These are different from water based or solvent based. Rotogravure printing process covered over 15% of the overall market revenue in 2015. The industry share will increase by 2024 owing to increasing environmental regulators for VOC emission.
Tapes have the largest market share in terms of revenue following up with pouches, tags& labels, sterile bags. Expansion of healthcare industry has brought tremendous rise in this market. IV & blood containers are utilized in large quantity mainly by hospitals, nursing homes, ambulatory facilitators; rise of these will ignite the growth of the market.
Ethylene oxide sterilization is mainly used for medical and pharmaceutical products. Rotogravure printing comprises of chemical based indicator inks that are mostly suitable for printing. Also, market share for this segment is moderate because of its cost.
North America has the highest market share in terms of revenue, in 2015, it was more than USD 15 million. Also, aging population in the region is the main reason for rising demand for healthcare facilities, increasing the market size for chemical indicator inks. APAC indicates rapid growth over healthcare industries which will fuel the product market at a CAGR of 8%.
Browse Full Research Report @ https://www.millioninsights.com/industry-reports/chemical-indicator-inks-market
Chemical Indicator Inks Product Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)
• UV cured
Chemical Indicator Inks Sterilization Process Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)
• Ethylene Oxide
• Vaporized hydrogen & plasma
Chemical Indicator Inks Printing Process Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)
For More Details Please Visit www.millioninsightsmarket.wordpress.com