Selbyville, Delaware, Feb. 02, 2021 (GLOBE NEWSWIRE) -- According to seasoned analysts, global medical sterilization equipment market accounted for around USD 6.11 billion in the year 2019 and is slated to amass lucrative gains during the analysis timeframe of 2020 to 2025.
The unforeseen advent of the Covid-19 pandemic has foiled the global economy, thwarting revenue generation as well as industry expansion by disrupting the entire supply chain. The holistic study of the market aims to respond to all the client interrogations while recommending effective business strategies for stakeholders to withstand the market fluctuations.
Rising prevalence of chronic diseases and neurological as well as cardiovascular ailments, increasing cases of gastrointestinal disorders, growing geriatric population, and soaring investments towards incorporating advanced sterilization technologies are stimulating the overall market outlook.
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Additionally, growing focus of industry players towards offering advanced, high-quality sterilization technologies to hospitals amid the COVID-19 pandemic, coupled with the evolution of the trend of partially outsource sterilization services are positively swaying the global medical sterilization equipment market dynamics.
Outlining market segmentations
Based on mode of sterilization, the market is bifurcated into radiation, low temperature, and high temperature. Among these, the high temperature segment is projected to attain substantial expansion over the forecast period, on account of rising prevalence of infectious diseases across the globe, surging demand for sterilization in hospitals, and strategic alliances between manufacturers and pharmaceutical establishments.
With regards to services offered, the industry is fragmented into contract sterilization, and in-house sterilization.
Moving on to end-user terrain, worldwide medical sterilization equipment business sphere primarily comprises of pharmaceuticals, hospitals, and others. The hospital segment is predicted to generate noteworthy profits over 2020-2025, primarily due to high prevalence of infectious diseases, growing efforts of companies towards developing effective sterilizers, and escalating product demand from healthcare establishments to curb the coronavirus.
Regional outlook
As per the regional analysis of the global medical sterilization equipment market report, Middle East & Africa, Europe, North America, and Asia-Pacific are the key growth stimulators. On a country level, the market is divided into UAE, Saudi Arabia, Germany, UK, U.S., Canada, China, and India.
The report states that Europe and North America are expected to emerge as major revenue generators for the market over the forecast period, owing to rising per capita expenditure on the healthcare.
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Competitive Scenario
Prominent organizations that influence the global medical sterilization equipment industry trends include MMM Group, Sterigenics International Inc., Andersen Products Ltd., Belimed Inc., Advanced Sterilization Products Services Inc., Cantel Medical Corp., 3M Company, Getinge AB, TSO3 Inc., and Steris Plc.
Global Medical Sterilization Equipment Market By Mode of Sterilization (Revenue, USD Billion, 2015-2025)
- Radiation
- Low temperature
- High temperature
- Others
Global Medical Sterilization Equipment Market By Service Type (Revenue, USD Billion, 2015-2025)
- Contract Sterilization
- In-house Sterilization
Global Medical Sterilization Equipment Market End-user Analysis (Revenue, USD Billion, 2015-2025)
- Pharmaceuticals
- Hospitals
- Others
Global Medical Sterilization Equipment Market Regional Outlook (Revenue, USD Billion, 2015-2025)
Middle East & Africa
- UAE
- Saudi Arabia
Europe
- Germany
- UK
North America
- U.S.
- Canada
Asia-Pacific
- China
- India
Global Medical Sterilization Equipment Market Competitive Landscape (Revenue, USD Billion, 2015-2025)
- MMM Group
- Sterigenics International Inc.
- Andersen Products Ltd.
- Belimed Inc.
- Advanced Sterilization Products Services Inc.
- Cantel Medical Corp.
- 3M Company
- Getinge AB
- TSO3 Inc.
- Steris Plc
Table of Content:
1. Research Methodology and Executive Summary
1.1 Research Methodology
1.2 Executive Summary
2.Strategic Recommendations
3. Medical Sterilization Equipment Market: Product Outlook
4. Global Medical Sterilization Equipment Market: Sizing and Forecast
5. Global Medical Sterilization Equipment Market Segmentation - By Mode of Sterilization, By Service Type, By End User
5.1 Competitive Scenario of Global Medical Sterilization Equipment Market: Mode of Sterilization
5.1.1 High Temperature - Market Size and Forecast (2015-2025)
5.1.2 Low Temperature - Market Size and Forecast (2015-2025)
5.1.3 Radiation - Market Size and Forecast (2015-2025)
5.1.4 Others - Market Size and Forecast (2015-2025)
5.2 Competitive Scenario of Global Medical Sterilization Equipment Market:BY Service Type
5.2.1 In-House Sterilization - Market Size and Forecast (2015-2025)
5.2.2 Contract Sterilization - Market Size and Forecast (2015-2025)
5.3 Competitive Scenario of Global Medical Sterilization Equipment Market:By End User
5.3.1 Hospitals - Market Size and Forecast (2015-2025)
5.3.2 Pharmaceuticals - Market Size and Forecast (2015-2025)
6. Global Medical Sterilization Equipment Market: Regional Analysis
6.1 Competitive Scenario of Global Medical Sterilization Equipment Market: By Region
7. North America Medical Sterilization Equipment Market: An Analysis (2015-2025)
7.1 North America Medical Sterilization Equipment Market: Size and Forecast (2015-2025), By Value
7.2 North America Medical Sterilization Equipment Market - Prominent Companies
7.3 Market Segmentation By Mode of Sterilization Type (High Temperature, Low Temperature, Radiation and Others)
7.4 Market Segmentation By Service Type (In-House Sterilization, Contract Sterilization)
7.5 Market Segmentation By End User (Hospitals, Pharmaceuticals, and Others)
8. Europe Medical Sterilization Equipment Market: An Analysis (2015-2025)
8.1 Europe Medical Sterilization Equipment Market: Size and Forecast (2015-2025), By Value
8.2 Europe Medical Sterilization Equipment Market - Prominent Companies
8.3 Market Segmentation By Mode of Sterilization Type (High Temperature, Low Temperature, Radiation and Others)
8.4 Market Segmentation by Service Type (In-House Sterilization, Contract Sterilization)
8.5 Market Segmentation by End User (Hospitals, Pharmaceuticals, and Others)
9. Asia Pacific Medical Sterilization Equipment Market: An Analysis (2015-2025)
9.1 Asia Pacific Medical Sterilization Equipment Market: Size and Forecast (2015-2025), By Value
9.2 Asia Pacific Medical Sterilization Equipment Market - Prominent Companies
9.3 Market Segmentation By Mode of Sterilization Type (High Temperature, Low Temperature, Radiation, Others)
9.4 Market Segmentation By Service Type (In-House Sterilization, Contract Sterilization)
9.5 Market Segmentation By End User (Hospitals, Pharmaceuticals, Others)
10. Middle East & Africa Medical Sterilization Equipment Market: An Analysis (2015-2025)
10.1 Middle East & Africa Medical Sterilization Equipment Market: Size and Forecast (2015-2025), By Value
10.2 Middle East & Africa Medical Sterilization Equipment Market - Prominent Companies
10.3 Market Segmentation By Mode of Sterilization Type (High Temperature, Low Temperature, Radiation, Others)
10.4 Market Segmentation By Service Type (In-House Sterilization, Contract Sterilization)
10.5 Market Segmentation By End User (Hospitals, Pharmaceuticals, and Others)
11. Global Medical Sterilization Equipment Market Dynamics
11.1 Drivers
11.2 Restraints
11.3 Trends
12. Market Attractiveness
Related Report:
Medical Products Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The medical products market is set to gain tremendous momentum during the forecast period owing to the ongoing technological advancements and growing demand from the healthcare sector. Medical products are devices, instruments, appliances, apparatus, machines, reagents for software, in vitro use, material, or related – which is meant by the manufacturer to be used either alone or in combination with each other for a particular medical purpose by individuals. From a regional frame of reference, the Latin America medical products market was valued at more than $1.6 billion in 2019 and is expected to grow at more than 7% CAGR over the projected time period. Middle East & Africa medical products market was valued at more than $1.5 billion 2019 and is estimated to expand at a CAGR of more than 6%.
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