Global Sterilization Equipment Market: By Product (Heat Sterilization, Low-Temperature Sterilization, and Others), by Technology (Gravity, Vacuum, Steam, Forced Convention), and by End-User (Pharmaceutical Companies and Others)–Global Forecast Till 2023
— Market Highlights
Sterilization equipment are necessary to maintain the sterile conditions during research activities, manufacturing of pharmaceuticals and during medical procedures. The increasing geriatric population, a growing number of surgical procedures and increasing research and development activities in the healthcare sector are the major factors driving the growth of the global Sterilization Equipment Market.
Additionally, increasing R&D spending and aggressive strategies adopted by the top players, such as new product launches, are contributing to the growth of the market. For instance, in August 2018, Cantel Medical announced the acquisition of Stericycle's Controlled Environmental Solutions Business for USD 17 million, it is a leading provider of testing and certification, environmental monitoring and decontamination services for clean rooms, and other services related to regulatory compliance and quality control.
The high costs associated with surgeries, stringent regulatory environment for product approval, and lack of awareness about sterilization methods are likely to hinder the market growth during the forecast period.
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The market in the Americas is expected to dominate the global sterilization equipment market during the forecast period owing to the increasingly strict sterility guidelines, increase in the number of surgical procedures due to rising geriatric population, the presence of a well-established healthcare system and adoption of highly advanced technology. The European market is expected to be the second-largest due to the increasing government expenditure on healthcare and increasing research activities in the life sciences sector, and the growing number of road accidents in Europe. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the increasing geriatric population in the region, increasing number of hospitals in Asia, and favorable government initiatives for healthcare facilities. The market in the Middle East & Africa is likely to account for the smallest share of the global sterilization equipment market.
The global sterilization equipment market has been segmented on the basis of product, technology, and end-user.
On the basis of product, the market has been classified as heat sterilization, low-temperature sterilization, filtration sterilization, ionizing radiation sterilization. The heat sterilization segment has been further divided into dry heat sterilization and moist heat sterilization. The Low-temperature sterilization segment has been further divided into ethylene oxide sterilization, hydrogen peroxide sterilization, and others. The ionizing radiation sterilization segment has been classified as electron beams and gamma rays.
The technology segment has been divided into steam, forced convention, vacuum, gravity, and natural convection. The market, by end–user, has been segmented into hospitals & clinics, research institutes, pharmaceutical companies, food & beverage industry, medical device companies, and other end–users.
Some of the key players in the global sterilization equipment market are 3M, STERIS plc., Getinge AB, Sotera Health, Advanced Sterilization Products (Division of Ethicon), Belimed, Anderson Products, Boekel Scientific, Celitron Medical, Technologies Kft., Fedegari Autoclavi S.p.A., Cantel Medical., LTE Scientific, Merck & Co., Inc, Midmark Corporation, MMM Group, TSO3 INC., and SAKURA SI CO., LTD.
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