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Global Sterilization Equipment Market is expected to grow at a CAGR of 9.20% during the forecast period from 2019-2025
Global Sterilization Equipment Market 2019, Global Sterilization Equipment Market Growth, Global Sterilization Equipment Market
Global Sterilization Equipment Market by Product and Services (Sterilization Instruments, Sterilization Consumables and Accessories, Sterilization Services), End-Users, and Region" and Global Forecast 2018-2025.
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Prominent playersoperating in the market areSteris Corporation, Getinge Group, Advanced Sterilization Products, 3M Company, Belimed AG, Cantel Medical, and Sterigenics International, Inc., Matachana Group, Sterile Technologies, Inc. and others.Major firms are incorporating various strategies to increase their market reach.
The product and servicesegment is divided into instruments, consumables & accessories, and services. The instruments segment is anticipated to grow with the highest CAGR of 12.07% in the forecast period. Portability and better maintenance capability of these devices are the major factors governing their growth. Growing incidence of HAIs,increasing volume of surgical procedures and growing communicable diseases such as viral and bacterial infections is increasing the demand of the segment.End user segment is categorised intohospitals and clinics, medical device companies, food and beverage industry, pharmaceutical companies, and other end users.The hospitals & clinics segment accounted for the largest share of 38.10% in 2017. The growth can be attributed to increasing incidence of healthcare-associated infections (HAIs), growing number of hospitals in developing countries and increasing number of surgical procedures.
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Increasing awareness about infection caused due to non-sterile environment andrising investment in research and healthcare infrastructureare boosting demand of market in forecast period. In addition,various sterilization equipment available for complete elimination of microorganismsis also boosting the growth of the market.Stringent regulations for product approvalsmay restrict thegrowth of the market. However,research and development activities across the globe to support and facilitate medical advancements are propelling the growth of the market in forecast period.
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