Westford, USA, Sept. 26, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Sterilization Equipment Market will reach a value of USD 10.55 Billion by 2031, with a CAGR of 4.8% during the forecast period (2024-2031). Nosocomial infections are sometimes known as hospital-acquired infections, or simply HAIs. Nosocomial infections usually occur in those patients receiving long-term medical care, especially through surgery. Apart from long-term care institutions such as nursing homes and rehabilitation centers, this can occur in surgery centers, clinics, hospitals, and ambulatory surgical centers. Most are affected are the older population, young people, and immunocompromised patients. Other factors that can make an individual prone to health-associated infections include catheter use, poor hygiene in the healthcare centers, and abuse of antibiotics. In addition, the demand for surgical procedures being carried out in clinics leaves the market scope much larger.
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Sterilization Equipment Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 7.25 Billion |
| Estimated Value by 2031 | USD 10.55 Billion |
| Growth Rate | Poised to grow at a CAGR of 4.8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Equipment, End User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Sterilization Equipment and its necessity in the Healthcare Industry |
| Key Market Opportunities | Trend of Home Healthcare |
| Key Market Drivers | Poor Hygiene in Healthcare Centers |
Sterilization Equipment Market Segmental Analysis
The sterilization equipment market is segmented on the basis of by product, By services, By end user, and by region.
By product is sub segmented into the sterilization instrument, consumable and accessories.
By service is sub segmented into the ethylene oxide sterilization services, Gamma radiation sterilization services, Steam sterilization services, and X-Ray services.
By end users is sub segmented into the Hospitals and clinics, Biotechnology and pharmaceutical companies, medical device companies, Food and beverage industry and others.
By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Dominance of Low-Temperature Sterilizers Segment Due to Rising Demand for Safe Sterilization Solutions
The increasing need for low-temperature sterilization of intricate designs and moisture and heat-sensitive medical instruments made low-temperature sterilizers a huge market in 2023. Techniques such as hydrogen peroxide gas plasma sterilization, etching of EtO, and liquid chemical treatments have undergone significant development over the last decade in response to development in technology as well as changes in the environment of health care. An acceleration in cost-expensive, advanced, and fragile medical equipment that brings up sterility issues fuels it. As service providers deliver healthcare services and pay more attention to infection control and patient safety, low-temperature sterilization solutions are predicted to gain popularity, thereby increasing its market share.
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Expanding Role of Sterilization in Drug Development Leads Biotechnology & Pharmaceutical Segment to Grow
The biotechnology and pharmaceutical companies’ segment is anticipated to hold the fastest market for sterilizing equipment. Increasing production in this sector requires demanding sterilizing operations for assured product efficacy and safety, which is driving this growth. Regulations are meant to be followed with stiff regulations that require reliable sterilizing methods. Additional potential will be created by surging investments in biotechnology and continuous innovation in medication discovery, which raise the demand for advanced sterilizing techniques. It is expected that such businesses will create drastic demand for efficient sterilization equipment as they grow.
Trends Driving the Leading Position of North American Sterilization Equipment Market
North America maintained leading place in 2023. It accounted for more than 35.8% of global revenue. This is perhaps because of the high rate of hospital-acquired infections taking place in the region and due to relatively liberal reimbursement guidelines that favor their adoption. In hospitals and clinics, the stringent regulations applied on the delivery of safe high-quality healthcare services like the Patient Protection and Affordable Care Act will require sterilization equipment. Such a situation is expected to propel growth in the market during the forecast period.
However, due to various factors, such as the increasing need to reduce hospital-acquired infections, expansion in the demand for non-disposable medical equipment, and increasing awareness of hygiene among hospitals and clinics, the market in the Asia Pacific region is expected to grow at a significant rate.
Sterilization Equipment Market Insights
Drivers
- Increase in Healthcare Standards
- Growing Aging Population
- Poor Hygiene in Healthcare Centers
Restraints
- High Initial Costs
- Alternatives and Competition
- Complexity of Operation
Major Players Operating in the Sterilization Equipment Market
- Steris Corporation
- Getinge AB
- 3M Company
- Belimed AG
- Matachana Group
- MMM Group
- Cantel Medical Corp.
- Advanced Sterilization Products (ASP)
- STERIZON LLC
- Johnson & Johnson
- Sotera Health
- Tuttnauer
- MELAG Medizintechnik GmbH & Co. KG
- Sterigenics International LLC
- B. Braun Melsungen AG
- Beta Star Life Science Equipment
- Anderson Products Inc.
- E-Beam Services, Inc.
- CISA Group
- Consolidated Sterilizer Systems
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Key Questions Covered in the Global Sterilization Equipment Market Report
- What are the major factors driving the growth of the global sterilization equipment market?
- Which is the dominant region in the global market?
- By 2031, what will be the worth of the global sterilization equipment market?
This report provides the following insights:
Analysis of key drivers (increase in aging population and technological advancements), restraints (compliance issues and high initial costs), opportunities (rise in home healthcare and emerging markets), and challenges (economic downturns and technological disruptions) influencing the growth of the sterilization equipment market.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the sterilization equipment market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the sterilization equipment market.
- Market Development: Comprehensive information on lucrative emerging regions.
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market.
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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