Sterilization Equipment Market Share to Witness Stunning

0

New York, May 30, 2023 (GLOBE NEWSWIRE) — According to Market.us, the Sterilization Equipment Market is estimated to be valued at USD 32.4 Billion by 2032 and is expected to exhibit a CAGR of 9.4% during the forecast period 2023 to 2032.

Sterilization equipment is used for cleaning and sterilizing various hospital equipment as they aid in controlling the spread of diseases and infections, such as hospital-acquired infections, which are most common among children, patients, and the geriatric population.

sterilization equipment market

To Get Additional Highlights On Major Revenue-Generating Segments, Request a Sterilization Equipment Market Sample Report At:

Key Takeaway:

  • By product, the low-temperature sterilizers accounted for the largest revenue share in the global sterilization equipment market in 2022.
  • By service, the ethylene oxide segment held the largest share globally and is also anticipated to be the fastest-growing segment from 2023 to 2032.
  • By end-user, the hospitals & clinics segment dominated the global market for sterilization equipment in 2022.
  • In 2022, North America dominated the market with the highest revenue share of 35.6%.
  • Asia-Pacific will likely grow at the fastest CAGR from 2023-2032.

With a significant rise in several surgeries, there is an increasing need for sterilization products & services. Improper sterilization of equipment used in surgeries or poorly sterilized hospitals & clinics will likely lead to increased SSI (surgical-site infection) and HAI (hospital-acquired infection) cases. This is predicted to be the primary factor for greater adoption of sterilization technologies in the upcoming years.

Factors Affecting the Growth of the Sterilization Equipment Market

There are several factors that can affect the growth of the sterilization equipment market. Some of these factors include:

  • Rising number of immunosuppressed individuals: The market growth is mainly influenced by the rising number of immunosuppressed individuals as they are at more risk of getting infected with bacterial infections caused due to improperly sterilized equipment.
  • Rising incidence of hospital-acquired infections: Hospital-invasive equipment is highly linked to infections requiring sterilization. Hence, this is expected to increase the demand for sterilization equipment.
  • Rising demand for the hygiene of medical devices: Due to the increasing use of non-disposable instruments, the need for sterilization of medical equipment has become necessary. Hence, it is anticipated to boost the growth of the sterilization equipment market.
  • Increasing R&D activities: The increasing research & development activities for the advancement of sterilization equipment offers numerous growth opportunities in the market, ultimately resulting in growth.

Top Trends in the Global Sterilization Equipment Market

Invasive equipment is used in modern healthcare for the treatment of patients. Equipment, such as ventilators and catheters, has been linked to infections. HAIs include ventilator-associated pneumonia, CLABSI (central line-associated bloodstream infections), and CAUTI (catheter-associated urinary tract infections). Spices and herbs can overcome molds and other bacteria by sterilizing food.

Utilizing heat, chemical steam, low temperatures, radiation, or the addition of mixed ingredients are the typical methods for sterilization and disinfection. Key companies such as Hitachi Zosen Corporation offer various goods, including electron beam sterilization systems and food sterilization equipment.

The food and drink containers are also sterilized by this equipment and systems using an electron beam emitter and equipment for manufacturing pharmaceuticals and regenerative medicine. The demand for sterilization equipment is expected to rise due to these significant factors, boosting the market growth.

Market Growth

The increase in advancements of technology in sterilization equipment, rising incidences of HAIs, increased focus on disinfection and food sterilization, and the rapid expansion of the healthcare and pharmaceutical industry worldwide are major factors expected to drive the revenue growth of the sterilization equipment market positively.

Regional Analysis

In 2022 North America dominated the market for sterilization equipment owing to the rising incidence of HAIs in this region and the favorable reimbursement policies. In addition, sterilization equipment has become necessary in hospitals & clinics due to the strict regulatory policies that ensure safe and high-quality healthcare, such as the Patient Protection & Affordable Care Act, which is anticipated to boost the market growth over the forecast period. The Asia Pacific region is anticipated to experience substantial growth in the coming years.

This significant growth is because most nations in this region are members of the OECD. Their compliance with the (MAD) Mutual Acceptance of Data Act specifies regulatory compliance in the healthcare sector by attracting key market players to initiate production facilities in these nations.

To Understand How Our Report Can Bring A Difference To Your Business Strategy, Inquire About a Brochure At: 

Competitive Landscape

The competitive landscape of the market has also been examined in this report. Some of the major players include

  • STERIS Plc.
  • Sterigenics U.S., LLC
  • Fortive
  • Cantel Medical
  • E-BEAM Services, Inc.
  • 3M Company
  • MATACHANA GROUP
  • MMM Group
  • Cosmed Group
  • Metall Zug Group
  • Other Key Players

Scope of the Report

Report Attributes Details
Market Value (2022) USD 13.5 Billion
Market Size in 2032 USD 32.4 Billion
CAGR (2023 to 2032) 9.4%
North America Revenue Share 35.6%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

The factors such as the use of catheters, excessive antibiotic use, and poor hygiene in healthcare settings predispose to HAIs. In addition, a significant contributor to the expansion of the market is a frequent rise in hospital surgical procedures. Therefore, proper sanitation must be practiced to maintain a healthy environment in hospitals and clinics.

Therefore, sterile fluids, blankets, and equipment are essential in hospitals and clinics. As a result, the demand for sterilization equipment is increasing owing to lowering the likelihood of infection transmission among patients. Therefore, during the forecast period, the market is expected to expand because of the rising incidence of chronic diseases.

Market Restraints

Restrictions imposed on the use of ethylene oxide in disposable medical devices and sterilization equipment limitations are likely to hamper the market expansion. On the other hand, massive investments are expected to expand the market as the equipment are most expensive. Additionally, the stringent regulations and non-compliance with the standards slow down the growth resulting in consequences.

Market Opportunities

The market is expected to benefit from the continuous development of sterilization equipment technologies. In addition, there will likely be numerous growth opportunities for the market due to the growing number of investments by the government and the emphasis placed on R&D to introduce better options for safety and prevention. This is primarily expected to expand the market growth shortly.

Report Segmentation of the Sterilization Equipment Market

Product Insight

In 2022, low-temperature sterilizers held the largest revenue share of the global market. This is mainly due to the growing demand for sterilizing intricately designed, heat- and moisture-sensitive medical equipment. Sterilization with (EtO), hydrogen peroxide gas plasma, and other liquid chemical substances is part of this strategy. The unmet demand for the sterilization of complex substances and rising surgeries are some of the forces driving the expansion of the market.

Due to the advanced innovations and ongoing changes in the healthcare environment, sterilization methods have evolved over the past decade. In addition, the use of costly and delicate medical instruments that are challenging to sterilize is also increasing the demand.

Service Insight

In 2022, ethylene oxide sterilization services dominated the market. It is anticipated to be the fastest-expanding segment from 2023 to 2032. Sterilization with ethylene oxide is standard and widely used. The medical device industry and bioburden minimization services for bulk products like spices, agricultural produce, cosmetics, and raw pharmaceutical materials can benefit from ethylene oxide sterilization services. The preferential shifting of the healthcare environment and advanced innovations have influenced the development of techniques over the past decade.

End-User Insight

During the forecast period, the hospitals & clinics segment is anticipated to likely dominate the sterilization equipment market with the largest market share. This significant segment’s expansion is a result of the rising rate of HAIs, the rising number of hospitals & clinics in the Asian Pacific region, the increasing number of surgeries annually, and the noteworthy increase in government efforts to diagnose HAIs.

Market Segmentation

By Product

  • Heat Sterilizers
  • Low-temperature Sterilizers
  • Radiation Sterilization Devices
  • Sterile Membrane Filters

By Services

  • Hospitals & Clinics
  • Pharmaceuticals
  • Other End-Users

By End User

By Geography

  • North America
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Recent Development of the Sterilization Equipment Market

  • In May 2022, Sterigenics S.A.S., a Sotera Health Company subsidiary, expanded its electron beam (E-beam) facility in Columbia City, Indiana. The facility ensures that medical devices and pharmaceuticals are safe.
  • In November 2021, Getinge established its legal entity, Getinge Vietnam, expanding its presence in Vietnam. The company focuses on expanding the distribution of sterile reprocessing products for hospitals and research laboratories, among other products.
  • In June 2021, STERIS Plc acquired Cantel, a global provider of infection prevention products & services, to diversify its vast portfolio of sterilization instruments and services.

Browse More Related Reports:

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us On LinkedIn Facebook Twitter

Our Blog: 


            


link

Leave a Reply

Your email address will not be published. Required fields are marked *