Plasma Sterilizers Market - Regional Analysis
North American Market Insights
North America industry is expected to hold largest revenue share by 2035. The growth of the market can be attributed majorly to the increasing hospitalizations in the region coupled with the increment in the number of hospitals owing to the presence of the massive healthcare industry in the region. For instance, approximately 6% of U.S. citizens were hospitalized at least once in 2018. Furthermore, the increasing geriatric population, along with the increased spending on healthcare in the region, are expected to drive the plasma sterilizers market in North America during the forecast period. Based on a report released by the Centers for Medicare and Medicaid Services, the U.S. will spend USD 4.1 trillion on healthcare services in 2020, which accounted for 19.7% of country's GDP. The rising incidence of several types of diseases such as, cardiovascular, neurological, chronic, and acute, coupled with technological advancements in healthcare services and demand for sterilization technologies are also expected to expand the market size in the region over the forecast period. It was estimated that of every 10 adults in the USA, 5 of them live with some sort of chronic disease, that includes diabetes, cancer, heart disease, and others.
