CHICAGO, April 19,
2024 /PRNewswire/ -- Sterilization Equipment
Market in terms of revenue was estimated to be worth
$16.8 billion in 2024 and is poised
to reach $24.7 billion by 2029,
growing at a CAGR of 7.9% from 2024 to 2029 according to a new
report by MarketsandMarkets™.
The expanding number of surgical procedures, the rising
prevalence of hospital-acquired illnesses, and the increased
emphasis on food sterilisation and disinfection are driving the
sterilisation equipment market. The growing prevalence of E-beam
sterilisation along with the rising number of pharmaceutical and
medical device companies in emerging nations present the
sterilisation equipment market with profitable growth
prospects.
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Browse in-depth TOC on "Sterilization Equipment
Market"
281 - Tables
51 - Figures
313 -
Pages
Sterilization Equipment Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$16.8
billion
|
Estimated Value by
2029
|
$24.7
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 7.9%
|
Market Size Available
for
|
2022–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Product & Service,
Technology, End User, and region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America, and the GCC
Countries
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
The increasing number
of medical device and pharmaceutical companies in emerging
economies is a significant opportunity for the sterilization
equipment market
|
Key Market
Drivers
|
Growing number of
surgical procedures is prominently driving the growth of the
sterilization equipment market
|
The sterilization instruments accounted for the largest share
of the sterilization equipment market, by product & service
segment, in 2023
The global sterilization equipment market is segmented into
sterilization instruments, sterilization services, and
sterilization accessories, and sterilization consumables based on
product & service. Growth in this particular segment is
predominantly propelled by several factors, including the
escalating prevalence of Hospital-Acquired Infections (HAIs), the
increasing volume of surgical procedures being conducted, stringent
regulatory requirements focusing on infection prevention, and the
expansion of both the medical device and pharmaceutical
sectors.
In 2023, the heat/high-temperature sterilization segment held
the largest share of the in sterilization equipment market, by
technology segment.
Based on technology, the sterilization equipment market is
broadly segmented into heat/high-temperature sterilization,
low-temperature sterilization, ionizing radiation sterilization,
and filtration sterilization. The growth of this segment is mainly
due to its simplicity and the need for low capital investment.
Also, the wide applications of heat sterilization in small clinics,
rural hospitals, dental clinics, and the life science industry are
driving the sterilization equipment.
The hospitals & clinics segment accounted for the largest
share of the sterilization equipment market, by end user, in
2023
The sterilization equipment market for end users is categorized
into hospitals & clinics, pharmaceutical companies, medical
device companies, food & beverage companies, and other end
users. The surge in chronic and infectious diseases has notably
fueled expansion within the hospitals & clinics end user
segment. However, the growing healthcare industry in emerging
nations like China, India, and Brazil is anticipated to help in notable
expansion of this segment's growth. This growth can be attributed
to factors such as increasing awareness, the flourishing medical
tourism sector, improving affordability of healthcare services, and
governmental backing for the advancement of healthcare
infrastructure within these regions.
North America stands out as
the leading regional market in the sterilization equipment
market.
The global sterilization equipment market is divided into six
key regions: North America,
Europe, Asia Pacific, Middle
East & Africa,
Latin America, and the GCC
Countries. As of 2023, North
America has dominated the global sterilization equipment
market. The significant market share held by North America can primarily be attributed to
the increasing prevalence of infectious diseases and the presence
of major industry players within the sterilization equipment
market.
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Sterilization Equipment Market Dynamics:
Drivers:
- Growing number of surgical procedures is prominently driving
the growth of the sterilization equipment market
Opportunities:
- The increasing number of medical device and pharmaceutical
companies in emerging economies is a significant opportunity for
the sterilization equipment market
Challenge:
- A significant challenge facing the sterilization equipment
market is the sterilization of advanced medical devices
Key Market Players of Sterilization Equipment
Industry:
The major players operating in this market are STERIS (US),
Getinge AB (Sweden), Sotera Health
(US), Fortive (US), 3M (US), Cardinal
Health (US), Metall Zug Group (Switzerland), Stryker Corporation (US), Merck
KGaA (Germany), MMM Group
(Germany), MATACHANA GROUP
(Spain), Tuttnauer (Netherlands), Andersen Sterilizers (US),
Steelco S.p.A. (Italy), Noxilizer
(US), DE LAMA S.P.A. (Italy),
Cosmed Group (US), C.B.M. S.r.l. Medical Equipment (Italy), E-BEAM Services, Inc. (US), Life
Science Outsourcing, Inc. (US), Systec GmbH (Germany), Continental Equipment Company (US),
Midwest Sterilization Corporation (US), BGS Beta-Gamma-Service GmbH
& Co. KG (Germany), ACMAS
Technologies Pvt. Ltd. (India),
Celitron Medical Technologies Kft (Hungary), Microtrol Sterilisation Services
Pvt. Ltd (India), Consolidated
Sterilizer Systems (US), LTE Scientific Ltd. (UK), Prince
Sterilization Services LLC (US), Centerpiece (US), Ionisos SA
(France), Sterlab (France), and Medistri SA (Switzerland).
The primary interviews conducted for this report can be
categorized as follows:
- By Company Type: Tier 1 - 42%, Tier 2 - 30%, and Tier 3 -
28%
- By Designation: C-level - 46%, D-level - 23%, and Others -
31%
- By Region: North America –
23.0%, Europe – 45.0%,
Asia Pacific – 28.3%, Latin America – 3%, Middle East & Africa – 0.8%, and the GCC Countries –
1.3%
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Recent Developments of Sterilization Equipment
Industry:
- In June 2023, STERIS plc
announced that it has successfully acquired the assets from BD
(Becton, Dickinson and Company) related to surgical
instrumentation, laparoscopic instrumentation, and sterilization
containers.
- In December 2023, Getinge
unveiled an innovative and modular load handling solution designed
for seamless integration with the company's GEV terminal
sterilizers.
- In October 2023, the strategic
acquisition of Healthmarks by Getinge not only consolidates
Getinge's presence in the infection prevention sector within
the United States but also
enhances its global customer outreach in Europe and Asia.
- In October 2023, ASP has unveiled
a substantial enhancement to its Sterilization Monitoring
portfolio, introducing innovative Steam Monitoring products.
- In May 2022, Sterigenics S.A.S.,
a subsidiary of Sotera Health Company, expanded its electron beam
("E-beam") facility in Columbia City,
Indiana.
Sterilization Equipment Market - Key Benefits of Buying the
Report:
The report will help the market leaders/new entrants in this
market with information on the closest approximations of the
revenue numbers for the overall sterilization equipment market and
the subsegments. This report will help stakeholders understand the
competitive landscape and gain more insights to position their
businesses better and to plan suitable go-to-market strategies. The
report also helps stakeholders understand the pulse of the market
and provides them with information on key market drivers,
challenges, trends, and opportunities.
The report provides insights on the following
pointers:
- Analysis of key drivers: (increasing incidence of
hospital-aquired infections, rising number of surgeries, and
increasing geriatric population and the rising incidence of chronic
diseases), challenges (end-user non-compliance with sterilization
standards, and sterilization of advanced medical instruments),
opportunities (growing number of medical device and pharmaceutical
companies in emerging economies, rising use of E-beam
sterilization, and rising adoption of single-use medical nonwovens
and devices), and trends (increasing adoption of sterilization
standards) influencing the growth of the in sterilization equipment
market.
- Product Development/Innovation: Detailed insights on research
& development activities, and new product launches and
approvals in the in sterilization equipment market.
- Market Development: Comprehensive information about lucrative
markets – the report analyses the in sterilization equipment market
across varied regions.
- Market Diversification: Exhaustive information about new
products, untapped geographies, recent developments, and
investments in the sterilization equipment market
- Competitive Assessment: In-depth assessment of market shares,
growth strategies and service offerings of leading players like
STERIS (US), Getinge AB (Sweden),
Sotera Health (US), Fortive (US), and 3M (US) among others in the sterilization
equipment market strategies.
Related Reports:
Infection Control Market - Global Forecasts to 2029
Dental Equipment Market - Global Forecasts to 2027
Sterilization Services Market - Global Forecasts to
2027
Medical Device Cleaning Market - Global Forecasts to
2027
Medical Supplies Market - Global Forecasts to 2027
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