The size of the Sterilization Equipment Market in Latin America is expected to be worth USD 0.54 Billion in 2023. It is expected to be growing at a CAGR of 8.1% and worth USD 0.80 Billion by 2028.
In many industries, including healthcare, sterilization is a critical step. This method is used in the healthcare industry to eliminate, destroy, or kill biological things to maintain a hygienic or sterile environment. In hospitals, this method is commonly used to reduce hospital-acquired infections.
Factors such as rising hospital-acquired infection rates, the impact of the COVID-19 pandemic, the rising number of surgical procedures, growing sterilization demand in the food industry to prevent food-borne diseases are driving the growth of the Latin American sterilization equipment market. In addition, rising sterilization demand in the pharmaceutical and biotechnology industries and the growing geriatric population are some other factors expected to propel the sterilization equipment market in this region.
The rising frequency of chronic diseases has resulted in a large increase in hospital admissions. In hospitals and clinics, blankets, sterile fluids, and equipment are just a few necessities. Sterilization equipment effectively fulfills the aim in such instances, as it reduces the danger of infection transmission among patients while also improving treatment delivery. As a result, the rising prevalence of chronic diseases is likely to boost market growth throughout the forecast period.
Sterilization instruments, sterilization consumables and accessories, and sterilization services make up the sterilization equipment market.
The high cost of sterilizers, the growing demand for disposable surgical instruments, stringent regulatory standards for approval, production, and use of these devices, as well as the disadvantages of chemical sterilant in some equipment, which may cause eye and skin damage, have all stifled the sterilization equipment market in the Latin American region.
This research report on the Latin American sterilization equipment market has been segmented and sub-segmented into the following categories:
By Product:
By End User:
By Consumables and Accessories:
By Country:
Geographically, the market is expected to pick up its growth since factors such as rising demand for sterilized equipment, a growing number of hospital-acquired diseases, and an increasing geriatric population are driving the Latin American sterilization equipment market.
The Latin American sterilization equipment market is predicted to gain up steam due to factors such as rising demand for sterilized equipment, an increase in hospital-acquired infections, and an aging population. Due to various causes, including an improving healthcare sector and a rising medical tourism business, Latin American countries are expected to experience significant growth. Furthermore, the region’s high healthcare spending has increased the demand for modern sterilization technologies in hospitals and medical institutes. As a result, there is a higher usage of such equipment in Mexico. Furthermore, the expanding medical tourism business, combined with the affordable availability of sophisticated sterilizing technology, expands the market in Brazil significantly.
The sterilizing equipment market in Mexico is primarily driven by the rising cases of hospital-acquired infections and the high frequency of chronic diseases. Intensive care units in hospitals are thought to be the sites of the most serious and frequent infections. Furthermore, most of the country’s population is obese, making them vulnerable to chronic illnesses, including cancer and cardiovascular disease.
Moreover, during the pandemic outbreak, sterilization plays a critical role in limiting virus spread. As a result, these variables boost hospital sterilization device demand, broadening the breadth and growth of Mexico’s sterilization equipment market.
Matachana is a leading provider of technical solutions in the healthcare and life sciences industries. The company’s main goal is to supply high-quality goods and services to its customers. Its activities, which are centered on sterilization, washing, and surgical units, are helping to drive the region’s sterilization market forward.
KEY MARKET PLAYERS:
Companies dominating the Latin American sterilization equipment market profiled in this report are STERIS Corporation (U.S.), Getinge Group (Sweden), Advanced Sterilization Products (U.S.), 3M Company (U.S.), Belimed AG (Switzerland), Cantel Medical Corporation (U.S.), Anderson Products, Inc. (U.S.), Matachana Group (S.A.), MMM Group (Germany) and Sterigenics International, Inc. (U.S.).
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