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Global Sterilization Equipment Market Worth $20 Billion by 2027 - Revenue Growth of $6.3 Billion Spurred by the Rising Incidence of HAIs and Growing Number of Surgical Procedures
Global Sterilization Equipment Market
Dublin, Nov. 25, 2022 (GLOBE NEWSWIRE) -- The "Global Sterilization Equipment Market by Product & Service (Instruments (Dry Heat, Ethylene Oxide), Consumables & Accessories (Indicators, Pouches), Services (Ethylene Oxide, Steam)), End-user (Hospitals & Clinics, Pharmaceuticals), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global sterilization equipment market is valued at an estimated USD 13.7 billion in 2022 and is projected to reach USD 20 billion by 2027, at a CAGR of 7.9% during the forecast period. Market growth is driven by factors such as the increasing incidence of HAIs, increasing focus on food sterilization and disinfection coupled with increasing outsourcing of sterilization services among pharmaceutical companies, hospitals, and medical device manufacturing companies.
The sterilization instruments held the largest share of the sterilization equipment market, by product & service
The global sterilization equipment market is segmented into sterilization instruments, sterilization services, and sterilization consumables & accessories based on product & service. Market growth is largely attributed to the rise in the volume of surgical procedures and stringent regulatory mandates for infection control.
Among the end-users, the pharmaceutical companies segment is anticipated to register the highest growth during the forecast period
Based on end-users, the sterilization equipment market is segmented into hospitals & clinics, medical device companies, food & beverage companies, pharmaceutical companies, and other end-users. The pharmaceutical companies segment is anticipated to witness growth at the highest rate during the forecast period. The growth can be attributed to the increasing number of pharmaceutical companies in developing nations such as India and China.
The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period
The global sterilization equipment market is segmented into five regions - North America, Europe, the Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific region is expected to witness the highest growth in the sterilization equipment market during the forecast period. The high growth in this region can primarily be attributed to the rising incidence of nosocomial infections, growth in the pharmaceutical and medical device industries, and improved healthcare infrastructures in Southeast Asian countries.
Research Coverage
This report provides a detailed picture of the global sterilization equipment market. It aims at estimating the size and future growth potential of the market across different segments, such as product & service, end-user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Market Dynamics
Drivers
Rising Incidence of Hospital-Acquired Infections
Growing Number of Surgical Procedures
Growing Geriatric Population and Increasing Incidence of Chronic Diseases
Increasing Focus on Food Sterilization and Disinfection
Increasing Outsourcing of Sterilization Services by Pharmaceutical Companies and Hospitals
Opportunities
Increasing Number of Medical Device and Pharmaceutical Companies in Emerging Economies
Rising Use of e-Beam Sterilization
Reintroduction of Ethylene Oxide Sterilization
Rising Adoption of Single-Use Medical Nonwovens and Devices
Growing Healthcare Industry and Outsourcing of Operations to Emerging Countries
Challenges
Sterilization of Advanced Medical Instruments
Adverse Effects of Chemical Disinfectants
End-user Non-Compliance with Sterilization Standards
Trends
Increasing Adoption of Sterilization Using NO2
Premium Insights
Increasing Incidence of Hospital-Acquired Infections to Drive Market Growth During the Forecast Period
Sterilization Instruments Accounted for Largest Share of Market in 2021
China and India to Register the Highest Growth During the Forecast Period
APAC to Witness the Highest Growth During the Forecast Period
Developing Markets to Register Higher Growth During the Forecast Period
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Sterilization Equipment Market, by Product & Service
7 Sterilization Equipment Market, by End-user
8 Sterilization Equipment Market, by Region
9 Competitive Landscape
10 Company Profiles
3M
ACMAS Technologies Pvt. Ltd.
Andersen Sterilizers
BGS Beta-Gamma-Service GmbH & Co. KG
C.B.M. S.R.L. Medical Equipment
Cardinal Health
Celitron Medical Technologies KFT
Consolidated Sterilizer Systems
Continental Equipment Company
Cosmed Group
DE LAMA S.p.A.
E-BEAM Services, Inc.
Fortive
Getinge AB
Life Science Outsourcing, Inc.
LTE Scientific Ltd.
MATACHANA GROUP
Merck KGaA
Metall Zug Group
Microtrol Sterilisation Services Pvt. Ltd.
Midwest Sterilization Corporation
MMM Group
Noxilizer
Prince Sterilization Services, LLC
Sotera Health Company
Steelco S.p.A.
STERIS PLC
Stryker Corporation
Systec GmbH
Tuttnauer (A Part of Fortissimo Capital)
For more information about this report visit https://www.researchandmarkets.com/r/ad41dl
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