Global Sterilization Equipment Market Segmentation, By Product and Service (Sterilization Instruments, Sterilization Consumables and Accessories, Sterilization Services), End User (Hospitals and Clinics, Medical Device Companies, Food and Beverage Industry, Pharmaceutical Companies, Others) – Industry Trends and Forecast to 2031.
Sterilization Equipment Market Analysis
The pharmaceutical and biotechnology industries have largely gained traction over the past few years across the globe. Surging focus on food sterilization and disinfection across the globe and the growing focus of key players towards technological advances and indulging towards collaboration and partnerships with other organizations. Consequently, the presence of various growth determinants leads to the profitable growth of market over the forecasted period.
Sterilization Equipment Market Size
Global sterilization equipment market size was valued at USD 16.16 billion in 2023 and is projected to reach USD 30.35 billion by 2031, with a CAGR of 8.20% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Sterilization Equipment Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Key Market Players
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STERIS (U.S.), Getinge AB (Sweden), 3M (U.S.), Sotera Health (U.S.), Fortive (U.S.), Cardinal Health (U.S.), Metall Zug Ag (Switzerland), Stryker (US), Merck KGaA (Germany), MMM Group (Germany), MATACHANA GROUP (Spain), Tuttnauer (Netherlands), Andersen Sterilizers (U.S.), Steelco S.p.A. (Italy), Noxilizer Inc., (U.S.), DE LAMA S.P.A. (Italy), Cosmed Group (U.S.), C.B.M. S.r.l. Medical Equipment (Italy), E-BEAM Services, Inc. (U.S.), Life Science Outsourcing, Inc. (U.S.), Systec GmbH (Germany), Continental Construction Company (U.S.), Midwest Sterilization Corporation (U.S.), BGS (Germany), and ACMAS Technologies (P) Ltd. (India)
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Market Opportunities
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Sterilization Equipment Market Definition
The sterilization equipment is basically used to eliminate and disinfect life forms, such as bacteria, fungi, viruses, and other biological agents. Sterilization is a critical medical procedure that involves sterilizing medical equipment and devices to completely eliminate and destroy biological agents or microbial growth that involves any transmissible agents, thereby preventing hospital-acquired infections through medical instruments and maintaining a hygienic and sterile environment for any surgical procedure.
Sterilization Equipment Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Growing Burden Of Infectious Diseases
The prevalence of numerous infectious diseases such as hospital acquired infections and other autoimmune diseases has significantly increased as the world's population grows. Majority of these illnesses necessitate medical treatment and surgery. Sterilization is required for all surgical instruments and devices. These factors are also expected to accelerate the overall growth of the market.
Furthermore, the expanding healthcare sector is also expected to fuel market growth. Moreover, the growing biotechnology and pharmaceutical industries also cushions the market’s growth within the forecasted period. An increase in funding for sterilization equipment-related research activities combined with the rising investments in extensive research and development activities are also projected to bolster the growth of the market.
Opportunities
- Growing Investments and Advancements
Moreover, the continuous advancement in sterilization equipment technologies are estimated to generate lucrative opportunities for the market. The growing number of investments by the authorities along with the focus towards research and development to introduce better preventive and safety options, will further offer numerous growth opportunities for the market.
Restraints/Challenges
- Huge Investments
On the other hand, the huge initial investments are expected to obstruct market growth.
- Stringent Regulations
There are various strict rules and regulations by government regarding the equipment approval. These stringent guidelines are projected to impede the market growth.
Also, the factors such as the shortage of skilled professionals and limited information and awareness about safety rules are projected to challenge the sterilization equipment market in the forecast period of 2024-2031.
This sterilization equipment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the sterilization equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post Covid-19 Impact on Sterilization Equipment Market
The sterilization equipment market was largely industry impacted by the outbreak of COVID-19. Healthcare industry was largely impacted by the outbreak of COVID-19 with hospitals becoming overburdened as the number of patients grows. To deal with the increased number of cases, temporary hospitals are being put up. As a result of the increased incidence of HAIs in hospital settings, the spread of COVID-19 has sparked a boom in demand for sterilization equipment and services. The rising cost of healthcare as well as the growing number of temporary hospitals, are boosting demand for and acceptance of sterilization goods and services.
The factors such as rising need for hospital beds and intensive care units (ICUs), the expansion of isolation facilities, and rising consumer awareness of sterilizing products and services for medical devices and single-use products have boosted the sterilization equipment and service demand. Regulatory organizations all across the world have taken various measures in response to the pandemic's mounting burden. Therefore, the increased product demand during COVID-19, has largely boosted the market growth.
Sterilization Equipment Market Scope
The sterilization equipment market is segmented on the basis of product and service and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product and Service
- Sterilization Instruments
- Sterilization Consumables and Accessories
- Sterilization Services
On the basis of product and service, the sterilization equipment market is segmented into sterilization instruments, sterilization consumables and accessories and sterilization services. The sterilization instruments accounts for the largest market growth owing to the rising incidence of HAIs along with the stringent regulatory mandates for infection control.
End User
- Hospitals and Clinics
- Medical Device Companies
- Food and Beverage Industry
- Pharmaceutical Companies
- Others
On the basis of end user, the sterilization equipment market is bifurcated into hospitals and clinics, medical device companies, food and beverage industry, pharmaceutical companies and others.
Sterilization Equipment Market Regional Analysis
The sterilization equipment market is analyzed and market size insights and trends are provided by country, product and service and end user as referenced above.
The countries covered in the sterilization equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the sterilization equipment market because of the rising prevalence of the hospital-acquired infections and the presence of favorable reimbursement policies within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the rise in healthcare sector coupled with growing demand for non-disposable medical devices, rise in number of population suffering from hospital acquired infections, which increases the awareness regarding the infections within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The sterilization equipment market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for sterilization equipment market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the sterilization equipment market. The data is available for historic period 2010-2020.
Sterilization Equipment Market Share Analysis
The sterilization equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to sterilization equipment market.
Sterilization Equipment Market Leaders Operating in the Market Are:
- STERIS (U.S.)
- Getinge AB (Sweden)
- 3M (U.S.)
- Sotera Health (U.S.)
- Fortive (U.S.)
- Cardinal Health (U.S.)
- Metall Zug Ag (Switzerland)
- Stryker (U.S.)
- Merck KGaA (Germany)
- MMM Group (Germany)
- MATACHANA GROUP (Spain)
- Tuttnauer (Netherlands)
- Andersen Sterilizers (U.S.)
- Steelco S.p.A. (Italy)
- Noxilizer Inc., (U.S.)
- DE LAMA S.P.A. (Italy)
- Cosmed Group (U.S.)
- C.B.M. S.r.l. Medical Equipment (Italy)
- E-BEAM Services, Inc. (U.S.)
- Life Science Outsourcing, Inc. (U.S.)
- Systec GmbH (Germany)
- Continental Construction Company (U.S.)
- Midwest Sterilization Corporation (U.S.)
- BGS (Germany)
- ACMAS Technologies (P) Ltd. (India)
Latest Developments in Sterilization Equipment Market
- In August 2021, Aurabeat, based in Hong Kong, has launched a USFDA-approved anti-COVID Class 2 medical device for SARS-COV-2 disinfection in India. Apart from the USFDA, MRI Global, ATCC (American Type Culture Collection), SGS (General Society of Surveillance-Geneva), FC, CE, ISO, UL, RoHS, UKRI Medical Research Council, and CEN European Committee for Standardization have all certified this product.
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