London, March 24, 2021 (GLOBE NEWSWIRE) -- According to a new market research report “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 2027”, published by Meticulous Research®, the sterilization equipment market is expected to grow at a CAGR of 12.2% from 2020 to reach $23.73 billion by 2027.
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In the healthcare industry, sterilization equipment is an important measure used to avoid the spread of infectious diseases. These diseases are caused by pathogenic microorganisms, such as viruses, bacteria, parasites or fungi. The diseases can be spread, either from one person to another, directly or indirectly, form infected or non-sterilized surgical or medical devices used to treat a person, or from being in the infected environment of any healthcare facility. Thus, to prevent and reduce the occurrence rate of infectious diseases, various healthcare facilities are adopting sterilization equipment, methods, and programs to improve the quality of care and provide a safe environment to the patients and other personnel working in the same facilities.
Rising Number of Surgical Procedures Supports Market Growth
Despite advancements in pharmacological therapies, there has been significant growth in the use of surgical procedures worldwide in recent years. The number of surgical procedures continues to increase annually across the globe. However, there is still a huge unmet need for surgical instrument sterilization products and solutions, which is expected to create opportunities for the players operating in the sterilization equipment market during the forecast period.
According to the WHO database, the number of surgical procedures in the U.S. is expected to reach around 150 million by 2023, from approximately 130 million in 2018. Similarly, in 2018, around 1.63 million C-section surgeries were performed in Europe. The rising number of surgical procedures has led to an increased risk of hospital-acquired infections (HAIs) and surgical site infections (SSIs), thereby driving the demand for sterilization products.
However, growth in the number of surgeries has stagnated due to the COVID-19 pandemic, i.e., in 2020, a reduction has been witnessed in the surgical caseload of cataract, cardiac, and other surgeries because of the lockdown. For instance, according to the news published on The Patient Guide to Heart, Lung, and Esophageal Surgery from The Society of Thoracic Surgeons, thousands of elective and semi-elective surgical procedures at most hospitals throughout the U.S and the world have been put on hold. Thus, COVID-19 has emerged as a hurdle for the growth in the number of surgeries worldwide
COVID-19 Impact on the Sterilization Equipment Market
Sterilization equipment products are one of the core parts of the any healthcare facility. With the severe outbreak of COVID-19, there is an exceptional global demand for services, infrastructure, and advanced healthcare facilities to treat infected ones. Thus, to meet this demand, initiatives are taking place to sustain sterile environment and thereby minimizing risk of COVID-19.
- In April 2020, Advanced Sterilization Products (U.S.) received U.S. FDA Emergency Use Authorization (EUA) for its STERRAD sterilizers. This enabled healthcare providers to decontaminate N95 Respirators using STERRAD Sterilization Cycles in hospital settings.
- In March 2020, the Manufacturing and Sterilization for COVID-19 (MASC) Initiative was launched at Penn State, U.S. With more than 350 researchers and counting contributing their expertise, the initiative is focused on designing and delivering rapidly scalable solutions and generating tangible impact, particularly within the commonwealth of Pennsylvania.
- In April 2020, 3M Company (U.S.) collaborated with decontamination companies such as Steris plc (U.S.), Advanced Sterilization Products (ASP) (U.S.), STERRAD Sterilization System, and Battelle (U.S.) to evaluate whether the proposed decontamination systems could be used in connection with limited respirator reuse during critical shortages due to COVID-19.
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Based on offering, the sterilization equipment market is segmented into three categories, namely equipment, consumables & accessories, and services. In 2020, the equipment segment accounted for the largest share of the overall sterilization equipment market. The equipment’s effectiveness in sterilizing reusable medical instruments, surgical instruments, and other materials required for various microbial-safe environments support the segment’s largest share. Moreover, the rising number of HAIs, a growing focus of pharma & biotech companies on the development of vaccines to tackle the recent outbreak of COVID-19, and the increasing need for food safety are the key factors expected to drive the growth of this market.
The sterilization equipment market is further divided into heat/steam sterilization equipment, low-temperature sterilization equipment, radiation sterilization equipment, and filtration sterilization equipment. Among these, the heat/steam sterilization equipment segment accounted for the largest share of the overall sterilization equipment market in 2020 due to its non-toxicity to patients, staff, and the environment. It is the conventional and the oldest sterilization method, used in hospitals and research & clinical laboratories.
The sterilization services market is further divided into EtO sterilization services, gamma sterilization services, E-beam sterilization services, stream sterilization services, and other sterilization services. In 2020, the EtO sterilization services segment accounted for the largest share of the overall sterilization services market due to the outsourcing of EtO sterilization requirements by the medical device industry. However, growing concerns regarding the toxicity of EtO sterilization are expected to adversely affect the growth of the EtO sterilization services market over the coming years. This will support the growth of alternative technologies, such as E-beam sterilization services, due to which the E-beam sterilization services segment is expected to register the fastest growth during the forecast period.
The consumables & accessories market is further divided into indicators, sterilants, packaging pouches, and other consumables & accessories. The sterilization indicators segment accounted for the largest share of the overall consumables & accessories market in 2020, due to the growing regulatory requirements for ensuring effective sterilization and the widening applications of sterilization technologies in general, across various industries.
On the basis of end user, the hospitals and clinics segment held the major share of the overall sterilization equipment market in 2020. The largest share of this segment is mainly attributed to factors, such as the growing incidence of hospital-acquired infections (HAIs), increasing number of hospitalizations, the proliferation of hospitals in developing countries, increasing collaborations between private & public hospitals for providing quality care, and rising number of surgical procedures worldwide. Apart from these factors, increasing chronic diseases associated with the aging population, growing awareness among people regarding quality care, and a focus on reducing the healthcare burden caused due to HAIs are expected to support the largest share of this end-user segment. Also, the coronavirus (COVID-19) outbreak has boosted the use of sterilization equipment & services in hospitals & clinics.
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Geographically, North America dominated the global sterilization equipment market in 2020. This was mainly due to the growing hospital & outpatient visits, rising number of surgical procedures, growing number of cases with HAIs, growing healthcare expenditure, growth in the pharma & biotech industry, and government initiatives to reduce HAIs and implement effective sterilization equipment practices. Moreover, due to the COVID-19 outbreak, there has been a rising demand for sterilization products for healthcare professionals working in diagnostic laboratories, pharmaceutical manufacturing units, and the biopharmaceutical industry. Also, growing awareness about personal hygiene and cleanliness has led to an increase in the adoption of sterilization equipment products in the region.
The report also includes extensive assessment of the geographic analysis, product portfolio, and key strategic developments adopted by leading market participants in the industry over the past few years. The sterilization equipment market has witnessed number of acquisitions; partnerships & agreements; new product launches; and approvals in recent years. For instance, in April 2020, Steris plc (U.S.) launched low temperature sterilizers to enable healthcare providers to decontaminate N95 Respirators on-site by utilizing certain STERIS V-PRO Low Temperature Sterilization Systems.
The key players operating in the overall sterilization equipment market are STERIS plc. (U.S.), Cantel Medical Corp. (U.S.), Getinge AB (Sweden), 3M Company (U.S.), Advanced Sterilization Products (U.S.), MMM Group (Germany), MATACHANA group (Spain), Cardinal Health, Inc. (U.S.), Sotera Health (U.S.), and Belimed (Switzerland), among others.
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Scope of the Report:
Sterilization Equipment Market, by Product
- Equipment
- Heat Sterilization Equipment
- Moist Heat Sterilizers
- Dry Heat Sterilizers
- Low Temperature Sterilization Equipment
- Hydrogen Peroxide / Gas Plasma Sterilization
- Ethylene Oxide Sterilizers
- Ozone-based Medical Sterilizers
- Formaldehyde Sterilizers
- Others
- Radiation Sterilization Equipment
- Filtration Sterilization Equipment
- Heat Sterilization Equipment
- Consumables & Accessories
- Sterilization Indicators
- Biological Indicators
- Chemical Indicators
- Sterilants
- Instrument Packaging & Pouches
- Others
- Sterilization Indicators
- Services
- Ethylene Oxide Sterilization Services
- Gamma Sterilization Services
- E-beam Sterilization Services
- Steam Sterilization Services
- Others
Sterilization Equipment Market, by End User
- Hospitals & Clinics
- Medical Device Companies
- Pharmaceutical Companies
- Food & Beverage Industry
- Others
Sterilization Equipment Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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