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Market Research Future published a research report on Sterilization Equipment Market. Report gives a clear picture of current market scenario which includes past and estimated future market size. The report provides detail information and strategies of top key players in the industry. The report also gives a broad study about different markets segments and regions.
Market Highlights
Sterilization equipment are necessary to maintain the sterile conditions during research activities, manufacturing of pharmaceuticals and during medical procedures. The increasing geriatric population, a growing number of surgical procedures and increasing research and development activities in the healthcare sector are the major factors driving the growth of the global sterilization equipment market. Additionally, increasing R&D spending and aggressive strategies adopted by the top players, such as new product launches, are contributing to the growth of the market. For instance, in August 2018, Cantel Medical announced the acquisition of Stericycle's Controlled Environmental Solutions Business for USD 17 million, it is a leading provider of testing and certification, environmental monitoring and decontamination services for clean rooms, and other services related to regulatory compliance and quality control
The high costs associated with surgeries, stringent regulatory environment for product approval, and lack of awareness about sterilization methods are likely to hinder the market growth during the forecast period.
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Sterilization equipment demand continues to worldwide. Market Research Future (MRFR) in its study reveals that the global sterilization equipment market will surge at 7% CAGR during the forecast period (2018-2023). In medicine, sterilization is a critical process and is practiced across all healthcare verticals that involve surgical treatment. Further, presence strict laws for medical instrument sterilization to prevent accidental contamination and spread of infection.
Over the years, the slew of sterilization technique has come up along with equipments. Its is the best way to ensure the prevention of microbial growth in medical products used during the surgical procedures. The rising incidence of hospital-acquired infection worldwide makes sterilization a key focus area for the medical sector.
Medical science continues to open new domains with high potential and sterilization is one the of them. Technological advances expected to transform and evolve sterilization techniques. At the same time, efforts are being made to make such technique cost-effective in order to improve their accessibility.
Global Sterilization Equipment Market: Segmental Overview
The segmental analysis of the market has been conducted on the basis of technology, product and end-user. Based on technology, the market has been segmented into natural convection, gravity, forced convention, steam and vacuum. Based on product, the market has been segmented into ionizing radiation sterilization, filtration sterilization, low-temperature sterilization and heath sterilization. The ionizing radiation sterilization segment is further sub-segment into gamma rays and electron beam. The low-temperature sterilization segment is further sub-segmented into hydrogen peroxide sterilization, ethylene oxide sterilization and others. The heat sterilization segment is further subsegment into moist heat sterilization and dry heat sterilization. Based on end-user, the market has been segmented into pharmaceutical companies, medical device companies, hospitals & clinics, food & beverage industry, research institutes and others.
Global Sterilization Equipment Market: Regional Segmentation
In the report, the market has been covered across Europe, Asia Pacific (APAC), the Americas and the Middle East & Africa (MEA). The Americas represent the largest market for sterilization equipment globally. Strict sterilization laws and strong demand continues to drive the market in North America. In addition, the region is expected to retain its dominant position over the forecast period. The Americas is followed by Europe and Asia Pacific (APAC). In terms of revenue, Europe holds the second spot in the global sterilization equipment market. Strict healthcare regulation, robust healthcare system and growing surgical procedures are some of factors that can be linked with the high demand for sterilization equipment. Furthermore, the rising number of surgical procedures is also contributing to the demand growth.
The market is expected to exhibit a sound growth in APAC over the next several years. In fact, APAC is set to become the faster growing sterilization equipment market in world during the forecast period. Improving healthcare infrastructure, growing prevalence of chronic and acute disorders, and increased surgical procedures being the primary drivers of the market. Moreover, increased government effort to lift up the standard of healthcare services in countries such as China and India is reflecting favourably on the market in the region. As per the data released by World health Organization (WHO), the elderly population in China is expected to grow to 90.4 Mn by the year 2050 up from 22.6 Mn in 2013. The market in the Middle East is also expected to grow at a steady pace but from a lower base.
Global Sterilization Equipment Market: Competitive Landscape
Notable companies discussed in MRFR’s report include STERIS plc., Sotera Health, Belimed, Anderson Products, Celitron Medical, Fedegari Autoclavi S.p.A., LTE Scientific, Midmark Corporation, 3M, Advanced Sterilization Products (Division of Ethicon), MMM Group, Merck & Co., Inc., Getinge AB, Cantel Medical., Boekel Scientific and Technologies Kft.
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