Newark, April 13, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the sterilization equipment market will grow from USD 14.02 billion in 2022 to USD 35.15 billion by 2032. The sterilization equipment market is witnessing technological advancements due to increasing demand in end-user industries. The increasing incidence of hospital-acquired infections and food poisoning is leading to higher sales of sterilization equipment.
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Key Insight of the Sterilization Equipment Market
North America region to account for the largest market size during the forecast period.
North Americais expected to have the largest market share in the sterilization equipment market during the forecast period.Key factors favouring the growth of the North American sterilization equipmentmarket include therising focus on patient care and hygiene practices in healthcare premises.The end-user enterprises are investing in sterilization equipmentto maintain the quality of their products and gain control over their manufacturing process.Countries such as the U.S. and Canada are investing in technological advancement in sterilization equipment.
The sterilization consumables and accessoriessegment is expected to augment the market during the forecast period.
The product segment is divided into sterilization consumables and accessories and sterilization equipment.The sterilization consumables and accessories segment comprises pouches, lubricants, accessories and indicators. The sterilization equipment segment further includes filtration sterilization instruments, heat sterilization instruments, low-temperature sterilization instruments and ionizing radiation sterilization instruments. The sterilization consumables and accessoriessegment is expected to augment the market during the forecast period. Sterilization consumables and accessoriesare required for performing surgeries in hospitals and clinics. These consumables are disposed of after one usage to limit the prevalence of cross-infection.
The steam sterilization servicessegment is expected to grow at the highest CAGR during the forecast period.
The service segment includes gamma sterilization services, e-beam sterilization services, steam sterilization services, ethylene oxide sterilization services and others. The steam sterilization servicessegment is expected to augment the market during the forecast period.As a sterilization technique in healthcare facilities, steam sterilization offers various advantages, including safety, low cost, and efficacy. The speed and productivity of a steam sterilizer are advantages over other types of sterilization.
The food and beveragesegment will likely grow at the highest CAGR during the forecast period.
The end-user segment includes food and beverage, pharmaceutical and biotechnology, hospitals and clinics, medical device companies and others. The food and beveragesegment will likely grow at the highest CAGR during the forecast period.The food and beverage industry's equipment must be sterilized entirely to prevent contamination during manufacturing. Vegetative bacteria, moulds, yeasts, and spore formers are eliminated throughout the process, enabling the food processor to store and distribute the goods at room temperature, extending their shelf life.
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Advancement in market
In May 2022, a significant player, Sterigenics S.A.S., a subsidiary of Sotera Health Company, expanded their electron beam facility in Columbia City, Indiana.
Market Dynamics
Driver:Increasing cases of infectious diseases
The incidence of infectious diseases has increased due to the rapid urbanization rate. These diseases occur due to several factors, such as poor hygiene practices, unhealthy lifestyle habits, etc. The spread of highly infectious diseases is majorly through cross infections in healthcare facilities and consuming contaminated food particles. As the virus has begun to spread widely across the globe, hospitals have started to use sterilization technologies as a preventive measure with the increasing number of patients. Also, the cases of hospital-acquired infections have increased drastically in recent years, so the emphasis on sanitization practices has increased in hospital facilities. The surfaces in various industries carry microorganisms and pathogens, which can lead to cause severe infections in the patient. In addition, there is a considerable demand for sterilization at diagnostic and research facilities to prevent further infection of Covid-19.
Restraint: High cost of acquisition and maintenance
The downsides of sterilizationequipment include its high acquisition and keeping expenses.The high capital cost limits the consumer group, as many mid-scale companies seek low-cost substitutes. This impacts the growth rate of sterilization equipment in many industrial facilities.
Opportunity: Increasing healthcare expenditure and focus on emerging economies
The share of total aggregate global healthcare expenditure in GDP has climbed from roughly 8% to over 10%, or close to USD 8 trillion per year, in the last two decades, owing to rising medical treatment costs, expanded treatment options, and increasing customer demands. Global agencies such as WHO and regional governments have provided regulations for minimizing cross-infections risk especially in healthcare facility. With increasing hospital infection cases, sterilization has been mandated in the government and many private hospitals. Also, the focus on hygiene has increased with increasing chronic and contagious diseases and a growing patient population. Further, the increasing research and development activities in various countries of the Asia-Pacific region on the potential benefits of sterilization have contributed to market growth. Sterilizing industrial manufacturing facilities is a public health strategy and the cornerstone of safe and effective health care. It's critical for preventing various diseases, limiting the spread of contagious diseases, and avoiding other outbreak-related illnesses.
Challenge: Lack of awareness
The underdeveloped regions need more investments in sterilization. The industries in these regions must be made aware of using such instruments. Also, the end-users are hesitant to invest in innovative technologies as they are sceptical about the potential returns on their investment. Also, in underdeveloped regions, the industrial income is low, further restraining the market growth in such regions.
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Some of the major players operating in the sterilization equipment market are:
• Cantel Medical Corp.
• STERIS plc
• Getinge AB
• 3M Company
• Givaudan S.A.
• Advanced Sterilization Products
• MMM Group
• MATACHANA Group
• Sotera Health
• Cardinal Health, Inc.
• Belimed
• STERIS
• Fortive
• Cardinal Health
• Metall Zug Ag
• Stryker
• Merck KGaA
• Matachana Group
• BGS
Key Segments Cover in the Market:
By Product:
• Sterilization Consumables and Accessories
o Pouches
o Lubricants
o Accessories
o Indicators
• Sterilization Equipment
o Filtration Sterilization Instruments
o Heat Sterilization Instruments
o Low-Temperature Sterilization Instruments
o Ionizing Radiation Sterilization Instruments
By Service:
• Gamma Sterilization Services
• E-beam Sterilization Services
• Steam Sterilization Services
• Ethylene Oxide Sterilization Services
• Others
By End-user:
• Food and Beverage
• Pharmaceutical and Biotechnology
• Hospitals and Clinics
• Medical Device Companies
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion).All the segments have been analyzed global, regional, and country basis.The study includes the analysis of more than 30 countries for each part.The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight.The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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