The global sterilization equipment market size is anticipated to reach of around US$ 16,400 Mn by 2027 and is anticipated to grow at a CAGR of around 9% in terms of revenue during the forecast period 2020 – 2027.
Sterilization is the eradication process for biological agents including transmissible agents such as spore species, fungus spores, special eukaryotic cells, fluids and bacteria. Sterilization is a beneficial surgical procedure with sterility and efficiency of the equipment. Several health issues involving the use of non-sterilized goods generate public health risks and lethal infection, which emphasize the need for careful prevention of diseases. Furthermore, sterilization equipment is considered as the vital component of the healthcare setting.
The major factor driving the growth of global sterilization equipment market is due to increasing geriatric population and increasing awareness among the consumers regarding infections and diseases. Other factors that are contributing growth to the market are increasing spending in healthcare infrastructure and government focus over public health by introducing stringent regulation as per countries. The high prices of sterilization equipment, however, serve as a deterrent in comparatively developed economies and challenge the rise in sales of the sterilization equipment industry. The technology is not only restricted to medicinal usage but is also a key field of sterilization devices for the food and drink market. The booming sector is expected to create significant revenue opportunities in the forecast period with prominent use of cleaning and disinfecting containers and packaging. Market players in sterilization equipment depend on designing equipment for a wider variety of instruments with comprehensive disinfecting properties. However, high costs combined with the stringent regulatory situations in emerging economies with sterilization equipment across the globe are likely to impede market growth during forecast period.
The market research study on “Sterilization Equipment Market (By Product: Heat sterilizers (Depyrogenation Oven, Steam Autoclaves Pre-clinical services), Low-temperature sterilizers (Ethylene oxide sterilizers, Hydrogen peroxide sterilizers, Others), Sterile membrane filters, Radiation sterilization devices (Electron beams, Gamma rays, Others), Consumables & accessories; By End-Use: Hospitals & clinics, Biotech and Pharmaceutical companies, Medical device companies, Food & Beverage Industry, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global sterilization equipment market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global sterilization equipment market are offering, product, end-use, and major geographic regions. The sterilization equipment market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
In 2019, North America, followed by Europe, had the highest market share. The rising number of clinics and hospitals, the increasing population, and government efforts to develop healthcare services are the key drivers of the development of the North American sterilization equipment industry. The fastest growth is predicted for Asia Pacific over the projected period due to large populations and the higher incidence of hospital acquired diseases in hospitals and operation centres. The Asia Pacific sterilization equipment market is also powered by a growing number of drug firms and potential growth in the food and beverage industry, which focus entirely on sterilize products.
Major players included in this report include 3M, STERIS plc., Getinge AB, Andersen Products, Inc., Belimed, Advanced Sterilization Products Division Ethicon US, LLC., MATACHANA GROUP, PRIMUS Sterilizer Company, L.L.C., Cosmed Group, TSO3 and others. Most companies are aimed at unveiling new products and adding state-of-the-art sterilizer equipment to boost sales and take over in the increasingly growing medical devices market. Rapid R&D projects, collaborations and collaborations for creating next-generation technologies are just a few approaches contributing to major growth for specific businesses.
The global sterilization equipment market is segmented as below:
Sterilization Equipment Market By Product
Sterile membrane filters
Radiation sterilization devices
Consumables & accessories
Sterilization Equipment Market By End-Use
Sterilization Equipment Market By Geography
Middle East & Africa
Sterilization is the eradication process for biological agents including transmissible agents such as spore species, fungus spores, special eukaryotic cells, fluids and bacteria.
High cost of equipment in developed countries is a major factor expected to restraint the growth of the market.
Technological advancements in developed countries is the major drivers for the growth of the sterilization equipment market.
According to Acumen Research and Consulting, the sterilization equipment market value is anticipated to be worth around US$ 16,400 Mn in 2027.
The sterilization equipment market is anticipated to grow around 8% CAGR amid the forecast period 2020-2027.
The rising number of clinics and hospitals, the increasing population, and government efforts to develop healthcare services are the key drivers of the development of the North American sterilization equipment industry.
The fastest growth is predicted for Asia Pacific over the projected period due to large populations and the higher incidence of hospital acquired diseases in hospitals and operation centres.