PCT Ltd (PCTL)

[falon]

Data provided by Lucintel projects that the future of the global medical device industry will provide opportunities in public and private hospitals. The sector is expected to reach an estimated USD 409.5 Billion by 2023, while growing at a CAGR of 4.5% from 2018 to 2023. The major drivers for the growth of this industry are health care expenditures, technological developments, the aging population, and chronic diseases. By application, the medical device industry can be segmented into surgical and infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, and others. PCT Ltd. (OTC: PCTL), MEDNAX, Inc. (NYSE: MD), Owens & Minor, Inc. (NYSE: OMI), Smith & Nephew plc (NYSE: SNN), SCYNEXIS, Inc. (NASDAQ: SCYX)

The infection control segment is expected to grow at a fast rate. According to MarketsandMarkets, the global infection control market is expected to reach USD 21.06 Billion by 2022 from USD 15.35 Billion in 2017 and at a CAGR of 6.5%. The research indicates that the increasing use of e-beam sterilization, rising importance of single-use medical nonwovens and medical devices are further increasing the demand for disinfection and sterilization products and services. Based on end user, the global infection control market is segmented into hospitals & clinics, medical devices companies, food industry, life sciences industry, pharmaceutical companies, and other end users. Hospitals & clinics are projected to register the highest CAGR during the forecast period. The growth is attributed to the rising incidence of HAIs (Hospital Acquired Infection), growing volume of surgical procedures, increasing cost burden due to the rising geriatric population & incidence of chronic diseases and increasing number of hospitals across the globe.