Global Sterilization Equipment Market to Reach US$ 8,465.53 Mn by 2026
Posted by Sneha Talanakr on May 27th, 2019
Transparency Market Research (TMR) has published a new report titled, “Sterilization Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global sterilization equipment market was valued at US$ 4,582.50 Mn in 2017 and is projected to expand at a CAGR of 6.1% from 2018 to 2026. Increase in number of surgeries, rise in prevalence of various diseases such as cancer and tuberculosis, and increase in number of hospital-acquired/associated infections (HAI) are major factors that are expected to propel the global sterilization equipment market. Asia Pacific is regarded as an emerging market for sterilization equipment owing to the presence of a large patient population, poor sanitization, and low awareness about sterilization among the people in the region.
Rising Number of Surgeries to Augment Market
According to the latest data from the Centers for Disease Control and Prevention, around 51 million inpatient surgical procedures were performed alone in the U.S. in 2010, followed closely by outpatient surgeries. The number of minimally invasive cosmetic procedures increased at a slightly higher rate than surgical procedures in 2017. Such an increase in the global number of surgeries is expected to boost the global sterilization equipment market during the forecast period since this is anticipated to require extensive utilization of medical instruments and their sterilization.
Advancements in Low Temperature Sterilization Technology
Low temperature sterilization can be categorized into three types based on the technology, namely, ethylene oxide sterilization, hydrogen peroxide gas plasma, and others. The hydrogen peroxide gas plasma sterilization technology includes production of free radicles within the plasma field that interrupts the function of cell component (such as DNA and cell membrane) and kills microorganisms. Currently, a new version of sterilization process improves sterilization efficacy by using two cycles: diffusion phase and plasma phase. This reduces the total processing time and also increases the efficacy of the sterilization process. However, this system has received US FDA (Food and Drug Administration) approval with limited application for sterilization in medical devices. Ongoing technological advancements in low temperature sterilization equipment are likely to propel the global sterilization equipment market during the forecast period.
Shifting Trend toward Utilization of Disposable Medical Devices Restrains Market
Increasing preference for the usage of disposable medical devices such as prefilled syringes, gloves, face masks, needles and catheters hampers the global sterilization equipment market. Usage of disposable devices reduces the probability of acquiring hospital acquired infections. These devices do not require sterilization, which in turn is estimated to hamper the global market for sterilization equipment market during the forecast period.
North America Contributes Largest Share to the Global Sterilization Equipment Market
North America accounted for a prominent share of the global market in 2017. Rise in prevalence of different kinds of infectious diseases (cholera, influenza, and syphilis) and increasing demand for non-disposable surgical instruments such as endoscopy devices, distractors and forceps are projected to propel the sterilization equipment market. Additionally, rapidly increasing number of hospital-acquired infections in North America boosts the sterilization equipment market. Furthermore, improvement in primary and secondary healthcare services such as chronic degenerative disease, ambulatory service, private duty nursing, skilled nursing, and physical therapy also propels the demand for sterilization equipment in this region.
STERIS Corporation, Getinge Group and Advanced Sterilization Products Services, Inc., to Lead Market due to Strategic Acquisitions and Product Development
The report also provides profiles of leading players operating in the global sterilization equipment market such as 3M, Advanced Sterilization Products Services, Inc., Belimed AG, Cantel Medical Corp., Getinge Group, SAKURA SI CO., LTD., STERIS Corporation, and TSO3, Inc.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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About the AuthorSneha Talanakr
Joined: April 22nd, 2019
Articles Posted: 279
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