As per our research analysis report, the global sterilization equipment market size is estimated to be USD 6.02 billion in 2021 and to grow USD 9.09 Billion by 2026. The market is growing at a CAGR of 8.6% during the forecast period. The growing life-threatening diseases like COVID-19 are escalating the growth rate of the market, as sterilization is an essential part of controlling the spread of this disease.
Sterilization is a filtration process that purifies viruses, bacteria, etc. in the fluids, medications, or biological culture media. Sterilization is necessary since deadly diseases like hepatitis and HIV are threatening the lives of many people. High levels of sterilization achieved by heat find its application in sterilization food containers such as beer, milk, and fruit juice bottles.
COVID-19 Impact on the Sterilization Equipment Market:
In the current scenario, the world is severely affected by the coronavirus, as it is a contagious infection that has sentenced lakhs of people to death. This pandemic has created a positive impact on the healthcare sector. The sterilization equipment is highly used in hospitals, clinics, and laboratories to lower the disease risk of transmission. The personal protective equipment (PPE) like gowns, masks, and other devices should be sterilized every time to kill the microorganisms. The demand levels for the sterilization equipment are significantly increased due to the COVID-19 outbreak.
MARKET DRIVERS:
Rising incidence of tuberculosis and the growing aging population are driving the global sterilization equipment market.
Tuberculosis is an infectious disease caused by bacteria and can be avoided with proper sterilization. According to the World Health Organization, tuberculosis is one of the leading causes of death throughout the world and is likely to calculate around 1.5 million people die with the disease. The growing geriatric population across the globe is another factor boosting the market. According to the United Nations, by 2050, in countries like Europe and North America, the elder people population is expected to be more than 25%. In APAC and Latin America regions, the medical devices manufacturing growth has been increasing most importantly. In APAC, countries like India and China are the huge exporters of pharmaceutical products in the market.
Additionally, the growth in hospital-acquired infections, rising focus on food sterilization and disinfection, growing outsourcing of sterilization services expanding surgical procedures in the hospitals, and the increasing predominance of chronic diseases propels the market growth. The government’s initiatives to improve the usage of sterilization equipment in hospitals, and collaborations between the research centers and companies to expand their product portfolios are further significantly fuelling the growth of the sterilization equipment market. Stringent rules and regulations by government authorities to use sterilization equipment to control the spread of the disease are likely to provide growth opportunities for the market
In APAC, the sterilization market will showcase a CAGR of 8%, attributed to manufacturing and biotechnology and pharmaceutical companies. In APAC, countries like China and Japan, the population is aging. In India, the market size accounts for 200 USD billion attributed to the support related to reimbursement policies and increasing healthcare expenditure.
MARKET RESTRAINTS:
The high prices of sterilizers, the growing demand for disposable surgical instruments, and the shortage of skilled persons in utilizing the equipment are slowly hindering the market growth. The chemical agents used to sterilize are harmful, which is also a factor hindering the sterilization equipment market demand.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
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Market Size Available |
2020 to 2026 |
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Base Year |
2020 |
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Forecast Period |
2021 to 2026 |
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Segments Analysed |
By Product, End User, Consumables and Accessories and Region |
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Various analyses covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
This research report on the global sterilization equipment market has been segmented and sub-segmented based on the product, end-user, consumables, accessories, and region.
Sterilization Equipment Market – By Product:
Based on the product, the heat sterilizer segment is rapidly growing owing to a wide range of applications in dental clinics, low risk of infection, used to kill micro-organisms effectively, adoption of steam autoclaves, and dehydrogenation in pre-clinical services. However, the segment to lose market share during the forecast period due to fewer new entrants. Furthermore, the heat sterilization process is not suitable for heat and moisture sensitive devices. The sterilization process damages the equipment.
In 2020, the ionizing radiation sterilization equipment segment was worth USD 310 Million, and the growing trend will continue throughout the forecast period. Availability of computerized control systems, increased efficiency provided by ionizing radiation sterilization equipment, and developments in the healthcare sector drive the growth of this market.
Sterilization Equipment Market – By End User:
Based on end-user, Food and beverage segment is dominating the sterilization market based on end-user and is likely to expand share by 12% by 2020. The factors contributing to the growth of this market segment are rising adoption rate of canned and ready-made foods, and technological improvements. Government initiatives to develop innovative and high-end technologies for enhancing food safety are likely to impact the sterilization equipment market.
The biotech and pharmaceutical companies' end-user are growing at the highest CAGR of 26% from 2021 to 2026.
The hospital's segment is expected to grow at a robust CAGR in the years to come. COVID – 19 has caused a shortage of PPE in the hospital; they are reusing the equipment by sterilizing, and this factor is significantly influencing the market growth. Research and pharmaceutical industries are to have prominent shares in the coming years.
Sterilization Equipment Market – By Consumables and Accessories:
Sterilization Equipment Market – By Region:
Regionally, North America holds the largest market share in the world due to the rising demand for sterilization technologies to decrease the incidence of hospital-acquired infections and the increasing number of doctors. On-going research in the development of new drugs or vaccines for novel diseases is ascribed to bolster the demand for this market in this region. U.S. Sterilization Equipment Market to witness a growth rate of 6.2% CAGR from 2021 to 2026.
Following North America, Europe is holding the highest shares of the global sterilization equipment market by owing to escalating expenditure on healthcare. Increasing incidences of chronic diseases are also one of the factors accelerating the growth of the market. An increasing number of COVID-19 cases is elevating the demand of the market. Growing prevalence to maintain hygiene conditions is additionally amplifying the growth rate of the market in this region.
Asia-Pacific is the fastest-growing region and showcasing a CAGR of 8.0%, owing to massive growth in the number of hospitals, the growing prevalence of infectious diseases, and government agencies' focus to decrease the amount of hospital-acquired conditions. Emerging countries such as China and India offer significant opportunities for players in the sterilization equipment market during the forecast period. Additionally, the large population and increased incidence of nosocomial infections in hospitals and surgery centers will drive growth in the Asia-Pacific region. The growing number of pharmaceutical companies and the potential growth of the food and beverage industry, which relies on thoroughly sterilized products, are also driving the sterilization equipment market in the Asia Pacific region.
TOP COMPANIES IN THE MARKET:
Key market participants in the global sterilization equipment market profiled in the 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.)
New product launches, technological updates to the equipment, R&D collaborations, and partnerships were some of the strategies adopted by the key market players in the recent past to stay ahead in the market competition.
RECENT MARKET DEVELOPMENTS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Low-Temperature/High-Temperature Heat Sterilization
5.1.2 Filtration Sterilization Equipment
5.1.3 Ionizing Radiation Sterilization Equipment
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2 End Users
5.2.1 Pharmaceutical Companies
5.2.2 Medical Device Companies
5.2.3 Hospitals
5.2.4 Food & Beverage Companies
5.2.5 Other end users
5.2.6 Y-o-Y Growth Analysis, By End Users
5.2.7 Market Attractiveness Analysis, By End Users
5.2.8 Market Share Analysis, By End Users
5.3 Consumables and Accessories
5.3.1 Detergents
5.3.2 Sterilization Accessories
5.3.3 Sterilization Indicators
5.3.4 Pouches
5.3.5 Lubricants
5.3.6 Y-o-Y Growth Analysis, By Consumables and Accessories
5.3.7 Market Attractiveness Analysis, By Consumables and Accessories
5.3.8 Market Share Analysis, By Consumables and Accessories
5.4 Site of Sterilization
5.4.1 Offsite Sterilization Services
5.4.1.1 E-Beam Sterilization Services
5.4.1.2 Ethylene Oxide Sterilization Services
5.4.1.3 Other Sterilization Services
5.4.1.4 Gamma Sterilization Services
5.4.2 Onsite Sterilization Services
5.4.2.1 E-Beam Sterilization Services
5.4.2.2 Ethylene Oxide Sterilization Services
5.4.2.3 Other Sterilization Services
5.4.3 Y-o-Y Growth Analysis, By Site of Sterilization
5.4.4 Market Attractiveness Analysis, By Site of Sterilization
5.4.5 Market Share Analysis, By Site of Sterilization
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Product
6.1.3.2 By End Users
6.1.3.3 By Consumables and Accessories
6.1.3.4 By Site of Sterilization
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Product
6.1.4.2 By End Users
6.1.4.3 By Consumables and Accessories
6.1.4.4 By Site of Sterilization
6.1.5 Market Share Analysis
6.1.5.1 By Product
6.1.5.2 By End Users
6.1.5.3 By Consumables and Accessories
6.1.5.4 By Site of Sterilization
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 STERIS Corporation
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Getinge Group
8.3 Advanced Sterilization Products
8.4 3M Company
8.5 Belimed AG
8.6 Cantel Medical Corporation
8.7 Anderson Products, Inc.
8.8 Matachana Group
8.9 MMM Group
8.10 Sterigenics International, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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