Sterilization Technology Market Demand, Growth Challenges, Industry Analysis and Forecasts to 2027| Advanced Sterilization Products Services Inc., Donaldson Company, Inc., Steris Plc

Sterilization Technology Market 2022
MRFR (Market Research Future) projects the sterilization technology market 2020 to post a growth rate of 8.20% from 2017 to 2023 (analysis period). MRFR also evaluates the market value to be USD 8,142.61 million by 2023. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.

COVID-19 Impact on Sterilization Technology Market

The COVID-19 outbreak has bolstered the need for respiratory devices such as ventilators, masks, scrub suits, sanitizers, and more. The escalation in the use of these medical devices in the healthcare industry has led to a higher demand for effective sterilization technologies. Ethylene oxide or EtO is the most commonly used sterilization technique that is playing a critical role in the fight against the novel coronavirus. The EtO method is ideal for medical devices that cannot bear extreme temperatures, such as gowns, syringes, catheters, gloves, products that have plastic tubing, masks and respiratory devices, and is therefore, observing significant adoption in this pandemic era.

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Key Players

Advanced Sterilization Products Services Inc., Donaldson Company, Inc., Steris Plc, and The 3M Company are market leaders sharing among them the maximum percentage of the global market. Among others influencing the market are Atec Pharmatechnik GmbH, Sterile Technologies Inc. Feldmeier Equipment Co., Donaldson Co. Inc., and Beta Star Life Science Equipment.

Segmental Analysis

The global sterilization technology market can be segmented by type, process, and end-user.

Type-wise segmentation includes ionizing radiation, filtration, thermal sterilization, ethylene oxide, and others. Because of its high penetration, the intensity of the radiation dose, and exposure duration, ethylene oxide (EO) has the largest market share. During the forecast period, the EO market is projected to hit USD 3.82 billion. However, its negative health effects may boost the demand for ionizing radiation, which is expected to rise and catch up to EO.

By process, the market is segmented into physicochemical, synergetic processes, chemical process, and physical processes. By 2023, the chemical process is projected to generate the most revenue, with a value of USD 5.67 billion.

Based on the end-user, the market comprises hospitals and clinics, the pharmaceutical industry, and medical device manufacturers. During the review period, the pharmaceutical sector is projected to bring in the most revenue.

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Regional Analysis

The primary regions across which the sterilization technology market is expected to grow over the forecast period include Europe, the Americas, MEA or Middle East & Africa and Asia Pacific or APAC.

In 2017, with the biggest share of close to 40.1%, the American market took the lead and shall remain so throughout the conjectured period. The sterilization technology market in the region is quite lucrative, thanks to the burgeoning pool of patients afflicted with chronic disorders and the resultant growth in hospital admissions as well as surgical procedures. Escalating cases of HAIs, regulations mandating the use of extensively sterilized medical devices and the rising intensity of competition between reputed players in the United States could also translate into significant revenues.
With the fastest growth rate of 8.58%, APAC is strongly backed by the fast developing economies of India and China along with the mounting prevalence of nosocomial infections. The thriving pharmaceutical and medical device industries in the region and the improving healthcare infrastructure have also caused market expansion. The emerging medical tourism trend in the region, particularly for oncology, cardiovascular, fertility treatments and orthopedics is set to bolster the focus of the healthcare system on effective sterilization.
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