The pivotal need for sterilization across the medical sector is one of the most prominent drivers of chemical indicator inks market. This can be attributed to the fact that chemical indicators manufactured from these inks help to identify visible signs through color changes under the influence of certain conditions, on the basis of which they are heavily deployed in sterilization monitoring systems. Recognizing the demand for these products, Tempilink, one of the key firms in chemical indicator inks industry, has been continually enhancing its product portfolio. Elaborating on its application scope, these inks find massive applications in dental offices, veterinary hospitals, medical device OEMs, tattoo parlors, hospitals and medical facilities. Steam sterilization, a vital segment of this fraternity has been gaining increasing prominence lately, on account of which chemical indicator inks industry is also likely to establish a lucrative growth map. As per estimates, chemical indicator inks market held a revenue contribution of USD 35 million in 2015.
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Industry participants are strongly focusing on the expansion of the business pertaining to technology to provide comfort and safety to patients. Chemical indicator inks industry behemoths have been forging partnerships with tech giants to endorse product innovation. For instance, in 2016, Crosstex acquired Accutron Inc., a renowned contributor in sedation technology, to diversify and expand its product portfolio. With this acquisition, Crosstex is directly focusing on patient satisfaction by improving the product feature for infection prevention and patient safety & comfort. Speaking along similar lines, Tempil Inc., NAMSA, STERILIZATION ASSURANCE RIKEN CHEMICAL Co.,Ltd., 3M, gke Gmbh, STERIS, Crosstex, NiGK Corporation, and Terragene SA are some of the renowned players in chemical indicator inks market.
The ongoing technological advancements and developments in packaging applications clearly depict that the companies in the food and beverage sector have been changing their packaging techniques and adopting the trend of innovation. Even in the tobacco industry, for instance, it has been observed that innovative technologies such as flexo printing are being used to produce quality carton packaging. Thus, the surging demand for this printing process will be a major factor driving chemical indicator inks market from flexographic printing, slated to depict a CAGR of more than 9% over the coming seven years.
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Considering the huge demand for technologically advanced packaging, Chromatic Technologies Inc. has developed high pressure inks that have the ability to kill product bacteria. The company has currently been using water based and UV curved printing technologies for the packaging process. Speaking of which, UV cured chemical indicator inks industry will register an annual growth rate of 6% over the years ahead.
Increasing awareness among people regarding hygiene, food contamination, and infection prevention has influenced chemical indicator inks market share positively. Most of the manufacturers of late, have been making heavy investments for the production of high quality chemical inks, which is certain to augment chemical indicator inks market share, which, according to Global Market Insights, Inc., is forecast to exhibit a CAGR of more than 7% over 2016-2024.
Browse key industry insights spread across 150 pages with 269 market data tables & 16 figures & charts from the report, “Chemical Indicator Inks Market Forecast, 2016 – 2024” in detail along with the table of contents:
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