Global Sterilization Equipment Market is Expected to Reach USD 16.71 Billion by 2025 : Fior Markets

Newark, NJ, Jan. 29, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global sterilization equipment market is expected to grow from USD 8.15 Billion in 2017 to USD 16.71 Billion by 2025 at a CAGR of 9.20% during the forecast period 2018-2025. Increasing incidences of hospital-acquired infections, increasing number of surgical procedures, rising focus on food sterilization and disinfection and technological advancements in sterilization equipment are the factors fuelling sterilization market.

Sterilization is used in the elimination of biological agents and for infection control in healthcare facilities such as hospitals, clinics, and laboratories. In other words the steps of destroying all microorganisms in or on a given environment, like a surgical instrument, in order to stop the spreading of infection. This is usually done by using heat, radiation, or chemical agents. Sterilization can be done by using various means such as chemicals, heat, irradiation, filtration, and high pressure. Sterilization equipment are majorly used in laboratories. Autoclave is a most important sterilization equipment of laboratories to sterilize laboratory glassware and micro centrifuge tubes, and medical equipment. Chemicals, fluids, water or food used for experiments can also be sterilized in autoclave. Dry heat sterilizing equipment such as hot air ovens is used in sterilization of metal instruments, needles, and petroleum products. Increase incidences of hospital acquired infections and stringent regulatory actions to prevent these infections are facilitating the growth of the market.

Increasing awareness about infection caused due to a non-sterile environment and rising investment in research and healthcare infrastructure are boosting demand of the market in the forecast period. In addition, various sterilization equipment available for complete elimination of microorganisms is also boosting the growth of the market. Stringent regulations for product approvals may restrict the growth of the market. However, research and development activities across the globe to support and facilitate medical advancements are propelling the growth of the market in forecast period.

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The major players in global Sterilization Equipment Steris Corporation, Getinge Group, Advanced Sterilization Products, 3M Company, Belimed AG, Cantel Medical, Sterigenics International, Inc., Matachana Group, Sterile Technologies, Inc. and others. Steris Corporation (US) is one of the leading players in the sterilization equipment market.

Major firms are incorporating various strategies to increase their market reach. For instance, In 2017, 3M Company launched the 3M Attest Rapid Readout Biological Indicator (BI) System for vaporized hydrogen peroxide sterilization (VH202). This development helped the organization in expanding and strengthening its product portfolio, which would ultimately expand its market share.
For instance in April 2016, STERIS Corporation launched new small research steam sterilizer. This is meeting the current market requirement of steam sterilizers that are cost effective, easy to use, and able to keep up with advances in control capabilities. This help the organization in increasing its market share.
For instance in June 2019, Getinge introduced new steam sterilizer GSS610H. This steam sterilizer is built on a platform which is engineered with the cooperation of Central Sterile Supply Department (CSSD) staff. This brought the same great features as world-class GSS67H, and this also provides a spacious chamber that comes in four different depths which enabled large loads with ease. This way the organization is contributing to provide an efficient and sustainable health care product, which is needed in market. This would ultimately increase the market share of the company.

The instruments segment is anticipated to grow with the highest CAGR of 12.07% in the forecast period

The product and service segment is divided into instruments, consumables & accessories, and services. The instruments segment is anticipated to grow with the highest CAGR of 12.07% in the forecast period. Portability and better maintenance capability of these devices are the major factors governing their growth. Growing incidence of HAIs, increasing volume of surgical procedures and growing communicable diseases such as viral and bacterial infections is increasing the demand of the segment.

The hospitals & clinics segment accounted for the largest share of 38.10% in 2017

End user segment is categorised into hospitals and clinics, medical device companies, food and beverage industry, pharmaceutical companies, and other end users. The hospitals & clinics segment accounted for the largest share of 38.10% in 2017. The growth can be attributed to increasing incidence of healthcare-associated infections (HAIs), growing number of hospitals in developing countries and increasing number of surgical procedures.

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Regional Segment Analysis of the Sterilization Equipment Market

North America (U.S. , Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region captured the largest share of global sterilization equipment market and was valued around USD 3.88 Billion in 2017, whereas Asia pacific is anticipated to register highest growth in the forecast period. North America possesses huge market growth potential due to increasing demand for sterilization technologies from the healthcare industry to minimize infections and the increasing number of surgeries in this region. The increasing number of hospitals and clinics, government initiatives for infrastructural improvements of healthcare facilities and growing population are also the factors which are fuelling the growth of the sterilization equipment industry in North America. Asia Pacific is expected to witness the fastest growth over the forecast period. Involvement of medical facility and government regulations to avoid hospital-acquired infections are governing factors for the growth.

About the report:

The global sterilization equipment market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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