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Global Sterilization Equipment Market, By Product Type; By Services; By Consumables & Accessories, By End-User By Region Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • ID: 5350153
  • Report
  • May 2021
  • Region: Global
  • 160 pages
  • Blueweave Consulting & Research Pvt Ltd

FEATURED COMPANIES

  • 3M Company
  • Belimed Inc.
  • Cantel Medical Corp.
  • Cardinal Health Inc.
  • Getinge AB
  • MATACHANA Group
  • MORE
Global Sterilization Equipment Market to Flourish - Projected to reach worth USD 13.1 billion in 2027



A recent study conducted revealed that the global sterilization equipment market was worth USD 8.2 billion in the year 2020. It is further projected to reach USD 13.1 billion by 2027, at a CAGR of 6.7% during the forecast period (2021-2027). The global sterilization equipment market is expanding due to growing demand in the pharmaceutical, biotechnology, and food industries, an increase in surgical procedures, and the effects of the COVID-19 pandemic. The growth prospects for market players are also fueled by an increase in population size, as well as an increase in the number of hospitals and clinics in major economies. Furthermore, the growing prevalence of chronic diseases, an increase in the number of procedures performed, and an increase in the aging population have all contributed to the growth of the global sterilization equipment market.

Prevalence of Chronic Diseases

The rise in the prevalence of chronic diseases such as diabetes, cancer, and other autoimmune diseases has resulted in a substantial increase in the demand for sterilization equipment. This factor has also been driving hospital admission rates. Blankets, pillows, sterile fluids, and medical instruments, such as stethoscopes, are all important commodities in the healthcare industry. Sterilization of such equipment is critical to reduce the risk of infection transmission among patients and improve the healthcare delivery system. Thus, the prevalence of chronic diseases is the primary factor that is driving the growth of the sterilization equipment market.

Increase in Surgical Procedures

According to the WHO, the number of surgical procedures in the U.S. alone is anticipated to reach around 150 million by 2023. Even though the number of surgical procedures performed worldwide continues to rise year after year, there is still unfulfilled demand for surgical instrument sterilization equipment and chemical solutions. As the number of procedures has increased, cases of surgical site infections (SISs) and healthcare-associated infections (HAIs) have also increased in recent years, which in turn is driving the growth of the sterilization equipment market. According to reports, approximately 4,131,000 patients in Europe are affected by HAIs each year. These factors are driving the growth of the sterilization equipment industry.

Low-Temperature Sterilizers Segment Accounted for the Largest Share

Based on product type, the sterilization equipment market is categorized into heat temperature sterilization, low-temperature sterilization, filtration sterilization, and ionizing radiation sterilization, wherein the low-temperature sterilizers segment accounted for the largest share in 2020. The increasing need for sterilization of heat- and moisture-sensitive medical instrumentation with advanced styles are driving the requirement for low-temperature sterilization. This method involves ethylene oxide (EtO) sterilization, hydrogen peroxide gas plasma, and sterilization utilizing different liquid chemical substances.

Low-temperature sterilization methods have also evolved over the last decade as a result of the changing healthcare environment and sophisticated advances. Additionally, the utilization of costly, complex, and delicate medical instruments that are troublesome to sterilize is increasing the demand for low-temperature sterilization. Some critical aspects of low-temperature sterilization, such as target precision and toxicity, create a need for advancements in existing sterilization chemicals available in the market. Therefore, these factors are expected to drive this segment's growth over the forecast period, thereby boosting the global sterilization equipment market.

Positive Contribution of Hospital and Clinics Segment Toward the Market

Based on end-user, the market is segmented- hospital & clinics, medical device companies, pharmaceutical companies, and food & beverage companies. Among these, the hospitals & clinics segment accounted for the largest share in the sterilization equipment market for the year 2020 and is also expected to grow further in the forecast period. The dominance of this segment can be attributed to several factors such as the growing cases of HAIs, the rise in the number of hospitals in Asian countries, and the surge of surgical procedures being performed.

Impact of COVID-19 on the Global Sterilization Equipment Market

With the severe occurrence of COVID-19, there has been unparalleled global demand for advanced healthcare facilities, services, and infrastructure to treat infected patients. As one of the core components of the healthcare industry, sterilization equipment like heat, low-temperature sterilizers, among others, are in huge demand these days to handle the surge of COVID-19 patients. To meet the demand for treating infected patients, initiatives are being taken to maintain a sterile setting to cut down the risk of COVID-19. In April 2020, Advanced Sterilization Products were given the U.S. FDA Emergency Use Authorization (EUA) for their STERRAD sterilizers. This has facilitated healthcare providers to decontaminate N95 Respirators using STERRAD Sterilization Cycles in the hospital environment. Thus, the pandemic is playing a substantial role in driving the growth of the sterilization equipment market globally.

North America Region Led the Global Sterilization Equipment Market

The North American market acquired the largest share in the global sterilization equipment market in 2020. The growth of the sterilization equipment market in this sector is driven by factors such as the growing need for sterilization technologies from the healthcare sector to minimize the prevalence of HAIs, the rise of healthcare expenditure, and growth in the pharmaceutical and biotech industry. On the contrary, the Asia-Pacific is expected to witness the fastest growth over the forecast period, led by China, India, and Southeast countries. This is attributed to factors like advancing economic growth, increasing focus of government on the healthcare sector, the rising prevalence of chronic diseases, the outbreak of COVID-19 pandemic, and amicable governmental reforms.

Global Sterilization Equipment Market Competitive Landscape

The key players in the sterilization equipment market are STERIS plc., Cantel Medical Corp., Getinge AB, 3M Company, Advanced Sterilization Products, MMM Group, MATACHANA Group, Cardinal Health, Inc., Sotera Health, and Belimed. The global sterilization equipment market is fragmented in nature, and therefore the major players have used varied strategies, such as new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions, to expand their footprints within this market. The prominent market players are also investing in research and development (R&D) to manufacture technologically advanced products to achieve a competitive edge in the market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global sterilization equipment market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the ­­­global sterilization equipment market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • 3M Company
  • Belimed Inc.
  • Cantel Medical Corp.
  • Cardinal Health Inc.
  • Getinge AB
  • MATACHANA Group
  • MORE
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Research Methodology
2.1. Qualitative Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation

3. Executive Summary

4. Global Sterilization Equipment Market Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.3. Industry Life Cycle Analysis
4.4. Porter’s Five Forces Analysis

5. Global Sterilization Equipment Market Overview
5.1. Market Size & Forecast by Value, 2017-2027
5.2. Market Share & Forecast

6. North America Sterilization Equipment Market
6.1. Market Size & Forecast by Value, 2017-2027
6.2. Market Share & Forecast

7. Europe Sterilization Equipment Market
7.1. Market Size & Forecast by Value, 2017-2027
7.2. Market Share & Forecast

8. Asia-Pacific Sterilization Equipment Market
8.1. Market Size & Forecast by Value, 2017-2027
8.2. Market Share & Forecast

9. Latin America Sterilization Equipment Market
9.1. Market Size & Forecast by Value, 2017-2027
9.2. Market Share & Forecast

10. Middle East & Africa Sterilization Equipment Market
10.1. Market Size & Forecast by Value, 2017-2027
10.2. Market Share & Forecast

11. Competitive Landscape
11.1. List of Key Players and their Offerings
11.2. Company Market Share Analysis, 2021
11.3. Competitive Benchmarking, By Operating Parameters
11.4. Competitive Benchmarking, By Product Offerings
11.5. Strategic Development

12. Impact of Covid-19 across Global Sterilization Equipment Market

13. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
13.1. Steris Plc.
13.2. Cantel Medical Corp.
13.3. Getinge Ab
13.4. 3M Company
13.5. Advanced Sterilization Products (A Subsidiary of Fortive Corporation)
13.6. MMM Group
13.7. Matachana Group
13.8. Belimed AG (Part of Metall Zug Group)
13.9. Cardinal Health, Inc
13.10. Sotera Health
13.11. Steelco S.p.A. (A Part of Miele & Cie. Kg)
13.12. Midwest Sterilization Corporation
13.13. Other Prominent Players.

14. Key Strategic Recommendations
*Financial details of unlisted companies will be available as per data availability in the final deliverable
**The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable
Note: Product cover images may vary from those shown
  • STERIS plc.
  • Cantel Medical Corp.
  • Getinge AB
  • 3M Company
  • Advanced Sterilization Products
  • MMM Group
  • MATACHANA Group
  • Cardinal Health Inc.
  • Sotera Health
  • Belimed Inc.
Note: Product cover images may vary from those shown

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