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The sterilization equipment market size is forecast to increase by USD 3.70 billion between 2021 and 2026, accelerating at a CAGR of 7.93%. The report provides market size, historical data spanning from 2017 to 2021, and future projections, all presented in terms of value in (USD billion).
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One of the key factors driving growth in the market is the strategic initiatives of market players. The global market is highly competitive. Vendors in the market adopt strategies such as mergers and acquisitions (M and A), expansion projects, new product launches, and increasing production capacity to tackle the competition in the market. Vendors invest in developing customized solutions to increase their foothold in the market. Moreover, intense competition in the market is expected to compel established vendors to increase their market presence through M and A and strategic alliances.
Healthcare facilities such as hospitals and clinics are selecting vendors based on their product's degree of superiority and properties. With the increasing demand for the equipment from end-users, vendors are opting for M and A and strategic alliances to improve their market reach and customer base. These strategic alliances and partnerships among vendors are helping them enhance their operations and increase their geographical presence. Thus, such activities will drive the market growth and forecasting of the global market during the forecast period.
The market share growth by the low-temperature sterilizers segment will be significant during the forecast period. Low-temperature sterilizers hold the largest share in the global market. There is a growing need for heat-sensitive medical devices and equipment, which is propelling the demand for low-temperature sterilizers. Additionally, the use of expensive, moisture-sensitive, and delicate medical devices that are difficult to sterilize, such as endoscopes, is driving the growth of the market segment.
36% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions. The growing healthcare sector in the region, the growing number of hospital-acquired infections (HAIs), and the strong market presence of the leading vendors will facilitate the market research and growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
The Market is fragmented in nature. Some significant players include 3M Corp and ACMAS Technologies Pvt. Ltd.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Andersen Sterilizers, C.B.M. S.r.l. Medical Equipment, Cantel Medical., Cardinal Health Inc., Continental Equipment Co, Cosmed Group, De Lama Spa, Fortive Corp., Getinge AB, Merck KGaA, MMM Group, Noxilizer Inc., Sotera Health Co., Steelco SpA, STERIS Plc, Stryker Corp., Systec GmbH, Tuttnauer, and YATHERM SCIENTIFIC
The Market is witnessing steady growth due to the increasing demand for preventive measures against Hospital-acquired Infections (HAIs) and the prevalence of chronic diseases. Patients receiving long-term treatment, surgical procedures, and those in ambulatory surgical centers, nursing homes, and rehabilitation centers are particularly at risk.
The market is driven by the need for proper hygiene in healthcare settings and the excessive use of antibiotics. Ethylene Oxide (EtO) type and low-temperature sterilizers like hydrogen peroxide gas plasma are commonly used for sterilizing surgical instruments, catheters, blankets, and sterile fluids. With a focus on patient safety, new products with target specificity and low toxicity are being developed. Clinics, hospitals, and long-term care facilities are the key end-users, especially for patients with low immunity, such as the geriatric population and children. The market growth is also supported by the rising adoption of sanitation practices and the need to combat antimicrobial resistance.
Sterilization Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
130 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.93% |
Market growth 2022-2026 |
USD 3.70 billion |
Market structure |
Fragmented |
YoY growth 2021-2022(%) |
7.24 |
Regional analysis |
North America, APAC, Europe, and Rest of World (ROW) |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Corp., ACMAS Technologies Pvt. Ltd., Andersen Sterilizers, C.B.M. S.r.l. Medical Equipment, Cantel Medical., Cardinal Health Inc., Continental Equipment Co, Cosmed Group, De Lama Spa, Fortive Corp., Getinge AB, Merck KGaA, MMM Group, Noxilizer Inc., Sotera Health Co., Steelco SpA, STERIS Plc, Stryker Corp., Systec GmbH, Tuttnauer, and YATHERM SCIENTIFIC |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis, market analysis and report for the forecast period. |
Customization purview |
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