Sterilization Equipment Market Is Anticipated to Grow Up to USD 9.8 Billion by 2031

Market Definition

Sterilization equipment is used in healthcare facilities to eliminate pathogenic microorganism like viruses, bacteria, fungi and spores from the surface of an article.

Market Outlook

The global sterilization equipment market was valued at USD 4.2 billion in 2021 and it is anticipated to grow up to USD 9.8 billion by 2031, at a CAGR of 8.8% during the forecast period.

Sterilization equipment is used in healthcare facilities to eliminate pathogenic microorganism like viruses, bacteria, fungi and spores from the surface of an article. It is widely utilized in autoclave machines, clean in place(CIP) systems, ultraviolet chambers and steam, dry and heat and liquid chemical process to prevent the risk of cross contamination and ensure the safety of staff and patient.

Growing prevalence of hospital-acquired infections (HAIs) will positively impact the market growth during the forecast period. Hospital-acquired infections (HAIs) are nosocomial infections that occur during a patients stay at hospitals and related facilities and are not observed at the time of admission. Over the years, they have become a major cause of morbidity and mortality worldwide. The most common bacteria associated with HAIs include C. difficile, MRSA, Klebsiella, E. coli, Enterococcus, and the Pseudomonas species. Using infected medical devices during diagnostic and therapeutic procedures is a major cause of HAIs. According to the Centers for Disease Control and Prevention (CDC), up to 1.7 million hospitalized patients in the US annually acquire healthcare-associated infections (HCAIs) while being treated for other health issues, and more than 98,000 of these patients (one in 17) die due to HCAIs.

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Research Objectives

Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
Identify factors influencing market growth and challenges, opportunities, drivers and restraints
Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives

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Global Sterilization Equipment Market Segmental Overview

The report analyses the global sterilization equipment market based on product, end use, and region.

Based on product, it is segmented into heat sterilization, low temperature sterilizers, sterile membrane filters, radiation sterilization devices, and consumables & accessories. The low temperature sterilization segment accounted for the largest share of the global sterilization equipment market in 2021. This is due to the increasing incidence of infectious disease coupled with increasing need for sterilization of heat and moisture sensitive equipment with complex design. This technique involve ETO sterilization, hydrogen peroxide gas plasma. Additionally, the use of expensive complex, and delicate medical instrument that are difficult to sterilize is fueling the demand.

Based on end-use, it is segmented into hospital & clinics, biotech and pharmaceutical companies, food and beverage industry and others. The hospitals & clinics segment was the major shareholder in the sterilization services market, owing to surge in prevalence of hospital-acquired infections (HAIs), increase in number of pharmaceutical companies, rise in adoption of single-use medical devices, and increase in outsourcing of sterilization services among pharmaceutical & medical device companies across the globe.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the sterilization services market and accounted for the largest revenue share in 2021 and expected to witness considerable growth over the forecast period. Growing demand and adoption of sterilization services because of the rising focus on healthy lifestyles and disease prevention among consumers. A surge in the geriatric population in the coming years and the subsequent increase in the prevalence of chronic diseases, the need for sterilization services to minimize the prevalence of HAIs, and implementation of favorable government initiatives and stringent regulations for sterilization services are also propelling the sterilization services market in the region.

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Major Players in the Global Sterilization Equipment Market

The key players in the market are Getinge AB (Sweden), STERIS Plc (U.S.), 3M (U.S.), Sotera Health. (U.S.), Fortive (U.S.), Cardinal Health (U.S.), Metall Zug Group (Switzerland), Stryker (U.S.), Merck KGaA (Germany), MMM Group (Germany) and among others.

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Research Scope

Scope - Highlights, Trends, Insights. Attractiveness, Forecast
Market Sizing - Product Type, End User, Offering Type, Technology, Region, Country, Others
Market Dynamics - Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
Business Framework - Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
Competitive Landscape - Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
Company Profiles - Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
Market Size in 2021 - US$ 4.2 Billion
Market Size in 2031 - US$ 9.8 Billion
CAGR % - 8.8%
Historic Period - 2015-2020
Forecast Period - 2022-2031
Base Year - 2021

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