Sterilization Equipment Market Worth USD 10.51 Billion By 2023

Sterilization is one of the key processes in many of the industries, specifically in healthcare services. Sterilization Equipment are widely used in hospitals to prevent hospital acquired infections, and in pharmaceutical and biotechnology, medical device manufacturing, and food and beverages processing industry to maintain sterile processing environment within the facility, as per need. In industrial applications, sterilization hold importance as it helps manufacturers in ensuring GMP compliance. Whereas, in healthcare settings, the importance of sterilization is even more crucial as it helps providers to prevent several hospital-acquired infections, and thereby improve quality of care delivered, and minimize cost of healthcare at the same time.

According to this latest publication from Meticulous Research®, the global sterilization market is expected to grow at a CAGR of 7.0% from 2018 to reach USD 10.51 billion by 2023.

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 “Sterilization Equipment Market By Product And Service [Equipment (Moist Heat, Dry Heat, Hydrogen Peroxide, Ethylene Oxide), Consumables (Sterilization Indicators, Sterilant Cassettes), Services (E-Beam, EtO, Gamma)]– Global Forecast To 2023” 

The growth in the sterilization technologies market is primarily driven by the growing need to curb the incidence of HAIs among healthcare facilities across the globe and thereby curtail the added burden of hospital readmissions. At the same time, increasing number of surgical procedures being performed across the globe, growing medical device and pharma manufacturing, and increasing use of sterilization technologies in the food and beverages industry is also expected to contribute to the growth of the sterilization technologies market.

The global sterilization equipment market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2023-by equipment (heat/high temperature sterilizers, low temperature sterilizers, radiation sterilizers, and filtration sterilization equipment), consumables (sterilization indicators, sterilant cassettes, and other consumables, such as pouches, trays, racks, and container holders), and contract sterilization services (e-beam, gamma, ethylene oxide, steam sterilization). The study also evaluates industry competitors and analyzes the market at regional and country level.

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On the basis of the end user, the sterilization equipment market among hospitals and clinics commanded the largest share of the sterilization equipment market in 2017. The need to prevent HAIs and improve quality of care provided at healthcare facilities is one of the key factors propelling the growth of the sterilization equipment market among hospitals and clinics during the forecast period. This is associated with the need to minimize hospital readmissions and thereby lower the additional cost of care delivery.

The increasing demand for sterilization technologies in emerging economies across APAC and Latin American regions owing to growing and improving healthcare infrastructure in these regions and growing demand for healthcare services in light of increasing per capita incomes is also expected to contribute to the growth of the sterilization equipment market among hospitals and clinics during the forecast period.

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This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Spain, France, Italy, Germany, U.K., and RoE), Asia-Pacific (China, India, Japan, and RoAPAC), Latin America, and Middle East & Africa. North America accounted for the largest share of the sterilization equipment market in 2017. However, during the forecast period, the APAC market is expected to register the fastest CAGR. The growth in this geographic market is primarily attributed to the government initiatives to improve healthcare infrastructure in this region, increasing number of hospitals in this region, and increasing number of surgeries being performed and thereby growing demand for sterilized instruments.

The major players operating in the global sterilization equipment market are Steris, Getinge, Sotera Health, Advanced Sterilization Products, 3M, Belimed, MMM Group, Matachana Group, and Cantel Medical. While there are numerous regional and local players in the sterilization equipment and consumables market, the contract sterilization services market is dominated by Steris and Sotera Health accounting for more than 60% share of the market in 2017. Some of the other key players in the contract sterilization services market are Cretex Companies, Medistri, COSMED Group, E-BEAM Services, Cantel Medical, Stryker Corporation, and Centurion Medical Products, among others.

TOP 10 COMPANIES IN STERILIZATION EQUIPMENT MARKET

Key questions answered in the report-

  • Which are the high growth market segments in terms of sterilization equipment, consumables, and contract sterilization services segments?
  • What was the historical market for sterilization technologies across the globe?
  • What are the market forecasts and estimates for the period 2018-2023?
  • What are the geographical trends and high growth regions/ countries?
  • What are the major drivers, restraints, opportunities, and challenges in the global sterilization equipment market?
  • Who are the major players in the global sterilization equipment market?
  • How is the competitive landscape and who are the market leaders in the global sterilization equipment market?
  • What are the recent developments in the global sterilization equipment market?
  • What are the different strategies adopted by the major players in the global sterilization equipment market?

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