Healthcare NEWS: Major Growth Expected in Sterilization Equipment Market :3M, Advanced Sterilization Products Services, Anderson Products, Belimed, Boekel Scientific, Celitron, Fedegari Group, Getinge AB, LTE Scientific, Matachana, Merck, Midmark, MMM Gro
Similarly, stringent government norms for disinfection and sterilization of medical devices will promote market growth. Rise in number of surgical procedures due to aging population will lead to rise in demand of sterilization equipment, thereby favoring market growth in the future.
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Sterilization Equipment Market will exceed USD 9.2 billion by 2024
Increasing technological advancements in developed economies will drive sterilization equipment market growth. Advances in low temperature sterilizers including V-Pro Max System that offers an additional conditioning phase in sterilization cycle, provides optimal sterilization. Vaporized hydrogen peroxide coupled with low-temperature peroxide gas plasma technology can be used for terminal sterilization of heat, moisture sensitive medical devices and instruments. Aforementioned technological advances and its extensive applications will spur industry growth throughout the forecast timeline.
Top Key Players:
• Advanced Sterilization Products Services
• Anderson Products
• Boekel Scientific
• Fedegari Group
• Getinge AB
• LTE Scientific
• MMM Group
• Steris Corporation
• TSO3 and Tuttnauer
Rising number of hospital-acquired infections (HAI) in developing countries should increase the demand for sterilization equipment. For instance, large number of HAIs are spreading due to improper sterilization of mechanical ventilators and catheters. According to World Health Organization, 56% of hospital-born infants in developing countries die in neonatal period due to hospital-acquired infections. Pervasiveness of HAI and implementation of stringent government norms and standards to reduce nosocomial infections, should boost the demand for sterilization equipment in the forecast period.
Rising number of surgical procedures is attributable to high incidence rate of chronic diseases coupled with aging population across the globe. Higher adoption rate for minimally invasive surgical procedures will escalate the number of surgeries performed. Due to accelerating number of surgical procedures, demand for sterilization equipment will increase, thereby impelling market growth during the forecast timeframe.
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Filtration sterilization segment is estimated to grow at 7.3% during the forecast timeframe due to its ability to sterilize liquid and gaseous phase substances. Rapidly rising need for biologicals requiring sterilization would favor segmental boost. Technological advancements resulting into improved sterilization of biochemical fluids will further aid segmental growth in the future.
Hospitals and clinics segment will grow at a rapid rate of 8.1% over the projected timeframe, owing to surging number of individuals having chronic disorders. Rise in number of chronic diseases will lead to higher number of patients seeking therapies in hospitals and clinics. Number of hospitals will increase in developing countries owing to improvement in healthcare expenditure. Rise in number of hospitals along with growing burden of nosocomial infections will render positive impact on business growth during the forecast timeframe.
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Sterilization Equipment Market, by Product
o Heat Sterilization
o Dry heat sterilization
o Moist heat sterilization
o Low-Temperature Sterilization
o Ethylene Oxide Sterilization (ETO)
o Hydrogen Peroxide Sterilization
o Filtration Sterilization
o Radiation Sterilization
o Electron beams
o Gamma rays
Key industry players involved in global sterilization equipment market are 3M, Advanced Sterilization Products Services, Anderson Products, Belimed, Boekel Scientific, Celitron, Fedegari Group, Getinge AB, LTE Scientific, Matachana, Merck, Midmark, MMM Group, Steris Corporation, TSO3 and Tuttnauer. Prominent business players are focusing on strategic acquisitions and partnerships to strengthen market position.
Introduction of technologically advanced sterilization equipment should favor industry growth over the forecast period. For instance, In June 2018, Getinge Ab launched its GSS Steam Sterilizer at the Achema exhibition in Frankfurt, Germany. This product launch will broaden the company's product portfolio and geographic reach, thereby expanding its customer base.
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