Press release
Global Sterilization Equipment Market 2019 | Current Trends, Opportunity, Growth Potential, Industry Size, and Forecast to 2026
Global Sterilization Equipment Market
Market Analysis: Global Sterilization Equipment Market
Global sterilization equipment market is registering a substantial CAGR of 7.81% in the forecast period of 2019-2026. This rise in the market can be attributed to the increasing prevalence of hospital acquired infections and continuous advancement in sterilization equipment technologies.
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Market Definition: Global Sterilization Equipment Market
Sterilization is the method of removing biological agents or life forms that involves transmissible agents including spore forms, unicellular eukaryotic organisms, fungi, bacteria, and spore forms existing in a particular surface, liquid, medication, region, etc. In the medical industry, sterilization is an inevitable method with the sterility and efficacy of the sterilization equipment as primary variables.
Market Drivers
o Increasing prevalence of hospital acquired infections are driving the growth of the market
o Continuous advancement in sterilization equipment technologies is flourishing the market growth
o Increasing biotechnology and pharmaceutical industries are helping the market to grow
o Increase in surgical procedure drives the growth of the market
Market Restraints
o Huge initial investment hinders the market growth
o Limited information and awareness about safety rules hampers the market growth
o Strict rules and regulations by government restricts the growth of the market
Key Developments in the Market:
o In April 2019, Petriss has introduced BLUEfin sterilization intelligence software. This innovative software solution enables sterilization experts to fulfill AORN, the Joint Commission, AAMI, and other legislative bodies ' compliance expectations. This solution is used to optimize patient care and for reduction of infections on surgical sites
o In January 2018, Claranor introduced chemical free and dry can sterilization solution. Claranor has built the first pulsed light sterilization devices dedicated to milk powder cans for infant formula. This launch will expand the offerings of the company.
Competitive Analysis:
Global sterilization equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of sterilization equipment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Market Competitors:
Few of the major market competitors currently working in the global sterilization equipment market are STERIS plc, Getinge AB., 3M, Belimed, MMM Group, MATACHANA GROUP, Sotera Health, Cantel Medical, Advanced Sterilization Products Division Ethicon US, LLC., Cardinal Health, Sterigenics U.S., LLC - A Sotera Health company, Andersen Products, Inc., Sterile Technologies Inc, Celitron Medical Technologies Kft., Metall Zug AG, MME group Inc., Nanosonics, Midmark Corporation, TSO3 INC., LTE Scientific Ltd, among others.
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