Sterilization Equipment Market Size To Reach USD 15,211.6 Million By 2028 | Top Key Players Getinge Group, STERIS Corporation, Advanced Sterilization Products Services

Increased incidents of HAIs (hospital-acquired infections), growth in number of hospitals and surgical centres across developing economies, and strict regulations pertaining to sterilization standards in the food industry are key factors driving market growth

According to the current analysis by Reports and Data, the global sterilization equipment market size was USD 8,959.2 Million in 2020 and is expected to reach USD 15,211.6 Million by 2028 at a CAGR of 6.8% during the forecast period. Market revenue growth is majorly driven by rising sterility concerns in medical & healthcare and food industry.

In several settings, sterilization is crucial for the removal of all kind of microbes that may contaminate substances and lead to health hazards. In pharmaceutical preparations, disinfection practice should be observed throughout all stages of manufacturing to ensure safety. Several incidences have surfaced where microbial growth is detected in pharmaceuticals during a routine manufacturing inspection. Such incidents are leading to concerns, and thus are given prime importance to be ensured by bodies like WHO (World Health Organization), Centre for Disease Control and Prevention (CDC), and FDA.

Technologies like gamma irradiation and low-temperature techniques are being extensively used in the food industry for sterilization of exotic fruits and vegetables. Rise in sterilization technology advancement is expected to fuel sterilization equipment market growth through 2028.

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Market Dynamics:

Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.

Surging demands and transition to patient-centric care delivery across geographies will change pharma and healthcare market trends through 2028.

Competitive Outlook:

The report focuses on current and emerging trends in the healthcare industry such as incorporation of IoT and Machine Learning to enhance efficiency of medical products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to unmet medical needs.

This report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.

Some Key Highlights from the Report:

• Based on product & service, the low-temperature segment is expected register a CAGR of 7.1 % through 2028. The robust growth can be attributed increasing compatibility of low-temperature sterilization with delicate medical devices. In addition, increasing product proliferation in packaging material, plastics, and device lumens is expected to boost revenue growth of the segment over the forecast period.

• The dry-heat sterilization sub-segment is expected to register significant revenue growth through 2028 due to usage in items that can withstand temperatures in the range of 160-180 degree Celsius. The items to be sterilized are generally wrapped in aluminium foils. However, it is a time-consuming process due to the low heat capacity of air.

• The filtration sterilization segment accounted for a nearly 46.2% of the market share in 2020 in terms of revenue and is expected to register a notable CAGR over the forecast period. Extensive product usage for heat sensitive devices and oncology products is expected to further contribute to revenue growth of this segment.

• Based on end-use, the hospitals & clinics segment accounted for the largest revenue share in the global sterilization equipment market share in 2020 owing to increasing incidence of healthcare-associated infections (HAIs) and rise in number of surgical procedures performed annually across the globe.

• Geographically, North America is expected to account for largest revenue share in the sterilization equipment market over the forecast period due to growing demand for sterilization technologies from the healthcare industry to minimize the occurrence of HAIs in the region.

• Key market players include Getinge Group, STERIS Corporation, Advanced Sterilization Products Services, Belimed, 3M, MATACHANA GROUP, and Cantel Medical among others.

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For the purpose of this report, Reports and Data has segmented the global Sterilization Equipment market on the basis of products and services, end-use, and region:

Product and Service Outlook (Revenue, USD Million; 2018–2028)

• Sterilization Instrument
• Heat/High-temperature Sterilization Equipment
o Moist Heat/Steam Sterilization Equipment
o Dry Heat Sterilization
• Low-temperature Sterilization
o Ethylene Oxide Sterilization
o Vaporized Hydrogen Peroxide Sterilization
o Hydrogen Peroxide Gas Plasma Sterilization
o Ozone-based Medical Sterilization
o Formaldehyde Sterilization
o Other Low-temperature Sterilization
• Filtration Sterilization
• Ionizing Radiation Sterilization
o E-beam Radiation Sterilization
o Gamma Sterilization
• Sterilization Services
• Ethylene Oxide Sterilization Services
• Gamma Sterilization Services
• E-beam Sterilization Services
• Steam Sterilization Services
• Other Sterilization Services
• Sterilization Consumables and Accessories
• Detergents
• Sterilization Indicators
• Pouches
• Lubricants
• Sterilization Accessories

End-Use Outlook (Revenue, USD Million; 2018–2028)

• Pharmaceutical Companies
• Hospitals & Clinics
• Medical Device Companies
• Food & Beverage Industry
• Other End Users

Regional Outlook (Revenue, USD Million; 2018–2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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