Sterilization Equipment Market

Sterilization Equipment Market Size (2022 to 2027)

As per our research analysis report, the global sterilization equipment market is estimated to be USD 6.02 billion in 2022 and grow by USD 9.09 Billion by 2027. The market is growing at a CAGR of 8.6% during the forecast period. In addition, the growing life-threatening diseases like COVID-19 are escalating the market's growth rate, 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 many people's lives. High levels of sterilization achieved by heat find their 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 coronavirus severely affects the world, 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. Sterilization equipment is highly used in hospitals, clinics, and laboratories to lower the disease risk of transmission. Personal protective equipment (PPE) like gowns, masks, and other devices should be sterilized to kill the microorganisms. The demand levels for sterilization equipment are significantly increased due to the COVID-19 outbreak.

MARKET DRIVERS:

The rising incidence of tuberculosis and the growing aging population drive 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 worldwide and is likely to calculate around 1.5 million people to die from 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, medical device 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. Furthermore, 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. In addition, 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, biotechnology, and pharmaceutical companies. In addition, in APAC, the population is aging in countries like China and Japan. 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 utilizing the equipment are slowly hindering the market growth. In addition, the chemical agents used to sterilize are harmful, restricting the demand for sterilization equipment.   

REPORT COVERAGE

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:

• Low-Temperature/High-Temperature Heat Sterilization
• Filtration Sterilization Equipment
• Ionizing Radiation Sterilization Equipment

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 lost market share during the forecast period due to fewer new entrants. Furthermore, heat sterilization is unsuitable for heat and moisture-sensitive devices. In addition, 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:

• Biotech and Pharmaceutical Companies
• Medical Device Companies
• Hospitals
• Food & Beverage Companies

The Food and beverage segment dominated the sterilization equipment market based on end-user in 2021. The factors contributing to the growth of this market segment are the rising adoption rate of canned and ready-made foods and technological improvements. In addition, government initiatives to develop innovative and high-end technologies for enhancing food safety will likely impact the sterilization equipment market.

The biotech and pharmaceutical companies' end-user is 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, significantly influencing the market growth. Research and pharmaceutical industries are to have star shares in the coming years. 

Sterilization Equipment Market – By Consumables and Accessories:

• Detergents
• Sterilization Accessories
• Sterilization Indicators
• Pouches
• Lubricants

Sterilization Equipment Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

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. In addition, ongoing research in developing 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 holds the highest share of the global sterilization equipment market owing to escalating expenditure on healthcare. Increasing incidences of chronic diseases are also one factor accelerating the market's growth. In addition, an increasing number of COVID-19 cases is elevating the development of the market. Furthermore, the growing prevalence of maintaining hygiene conditions amplifies the market's growth rate 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 on decreasing 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. Furthermore, the growing number of pharmaceutical companies and the potential development 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:

• On April 10, 2020, Steris received acceptance from the FDA for sterilizing the used respirators in hospitals. Hydrogen Peroxide vapor is filled in the sterilization chamber and cleans the exposed surface. According to the FDA, this STERIS V-PRO can sterilize ten respirators at once, too, in a short time, and every single ventilator can be processed up to 10 times for single users.
• In 2019, Gentige Group enhanced its product portfolio with a steam sterilizer called GSS610H.
• In 2018, TSO3 Company expanded its customer base by developing a STERIZONE VP4 sterilizer approved by U.S regulators.
• In 2017, the Cosmed Group expanded its product portfolio in the sterilization market to increase its revenue by acquiring Ethylene oxide contract sterilization operations developed by NAETO Company 2017.
• In 2016, Steris Corporation launched the small steam sterilizers.