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The Worldwide Sterilization Equipment Industry is Expected to Reach $23.7 Billion by 2027 - ResearchAndMarkets.com

January 8, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Jan 8, 2021--

The “Sterilization Equipment Market by Product & Services {Equipment [Heat, Low-temperature (Ozone, Formaldehyde), Filtration), Consumables (Sterilization Indicators, Sterilants), Services (Gamma, Steam)], End User (Hospitals, Pharma)} - Global Forecast to 202” report has been added to ResearchAndMarkets.com’s offering.

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The sterilization equipment market is expected to grow at a CAGR of 12.2% from 2020 to 2027 to reach $23.7 billion by 2027.

Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, restraints, opportunities, and challenges. The growth in the sterilization equipment market is mainly attributed to the growing incidences of hospital-acquired infections, the impact of the COVID-19 pandemic, rising number of surgical procedures, rising demand for sterilization in the food industry, and increasing sterilization demand from pharmaceutical & biotechnology industries. In addition, the growing demand for sterilization products in emerging economies and increasing use of e-beam sterilization provide significant opportunities for vendors across the globe.

Based on the product type, the equipment segment is projected to dominate the market in 2020 due to an increase in HAIs, the need for food safety, their effectiveness for sterilizing reusable materials & instruments, and rapidly growing production of vaccines during COVID-19.

Based on end user, the hospitals & clinics segment is expected to grow at the fastest growth rate due to rapidly growing surgical procedure volume, need for quality care, rising incidence of HAIs, and the growing number of hospital admissions due to COVID-19.

An in-depth analysis of the sterilization equipment market’s geographical scenario provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. North America is expected to command the largest share of the sterilization equipment market in 2020, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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Market Dynamics

Drivers

  • Growing Incidence of Hospital-Acquired Infections
  • Rising Number of Surgical Procedures
  • Impact of the Covid-19 Pandemic
  • Growing Demand for Sterilization in the Food Industry to Prevent Food-Borne Diseases
  • Increasing Demand for Sterilization from the Pharmaceutical and Biotechnology Industries

Restraints

  • Harmful Effects of Ethylene Oxide
  • Concerns Regarding the Safety of Reprocessed Instruments

Opportunities

  • Increasing Use of E-Beam Sterilization
  • Growing Demand for Sterilization Products in Emerging Markets

Challenges

  • Non-Compliance with Sterilization Standards in the Medical Sector

Companies Mentioned

  • STERIS plc.
  • Cantel Medical Corp.
  • Getinge AB
  • 3M Company
  • Advanced Sterilization Products
  • MMM Group
  • MATACHANA group
  • Cardinal Health Inc.
  • Sotera Health
  • Belimed

     

For more information about this report visit https://www.researchandmarkets.com/r/tln9cr

View source version on businesswire.com:https://www.businesswire.com/news/home/20210108005417/en/

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KEYWORD:

INDUSTRY KEYWORD: RETAIL HEALTH FOOD/BEVERAGE MEDICAL DEVICES

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 01/08/2021 11:31 AM/DISC: 01/08/2021 11:31 AM

http://www.businesswire.com/news/home/20210108005417/en