Chemical Indicator Inks Market Research Scope, Assumptions & Cost Analysis Till 2024 “Global market of chemical indicator inks 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.�
Global Market Of Chemical Indicator Inks 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. The demand in the market has been increased due to occurrence of diseases in hospitals which have further led to sterilization of medical products such as medical pouches, surgical bags, IV and blood bottles & containers. Product Insights 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. Application Insights Tapes have the largest market share in terms of revenue following up with pouches, tags& labels, sterile bags.
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