Dublin, Oct. 06, 2021 (GLOBE NEWSWIRE) -- The "Global Sterilization Equipment Market by Product & Services (Instruments (Dry Heat), Services (Ethylene Oxide, Gamma, Steam), Consumables & Accessories (Sterilization Indicators), End User (Hospitals & Clinics, Pharmaceuticals) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The sterilization equipment market is projected to reach USD 20.0 billion by 2026 from USD 13.8 million in 2021, at a CAGR of 7.7%
Market growth is largely driven by the rising incidence of hospital-acquired infections, growing number of surgical procedures, increasing focus on food sterilization and disinfection, growth in the pharmaceutical and biotechnology industries, and the increasing outsourcing of sterilization services.
The sterilization instruments segment accounted for the highest growth rate in the sterilization equipment market, by product and service, during the forecast period
Based on product & service, the sterilization equipment market is segmented into sterilization instruments, sterilization services, and sterilization consumables & accessories. The sterilization instruments segment is projected to register the highest CAGR during the forecast period. The growth of this segment is primarily driven by the rising incidence of HAIs, increasing number of surgeries performed, stringent regulatory mandates for infection control, and the growth in the medical device and pharmaceutical industries.
Pharmaceutical Companies accounted for the highest CAGR
Based on end user, the sterilization equipment market has been segmented into hospitals & clinics, medical device companies, food & beverage companies, pharmaceutical companies, and other end users. The pharmaceutical companies segment is projected to register the highest CAGR during the forecast period. Factors such as the increasing number of pharmaceutical companies and stringent regulatory norms for drug safety are driving the growth of the pharmaceutical companies' segment.
Asia Pacific: The fastest-growing region in the Sterilization Equipment market
The sterilization equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region offers high-growth opportunities for players in the sterilization equipment market. This regional segment is estimated to register the highest CAGR during the forecast period. Factors such as the growing pharmaceutical and medical device industries, rising number of surgical procedures, and increasing healthcare expenditure are driving market growth in the APAC region.
Market Dynamics
Drivers
- Rising Incidence of Hospital-Acquired Infections
- Growing Number of Surgical Procedures
- Increasing Focus on Food Sterilization and Disinfection
- Increasing Outsourcing of Sterilization Services Among Pharmaceutical Companies, Hospitals, and Medical Device Manufacturers
Opportunities
- Growing Healthcare Sector and Increasing Outsourcing in Emerging Economies
- Rising Use of E-Beam Sterilization
- Reintroduction of Ethylene Oxide Sterilization
- Rising Adoption of Single-Use Medical Nonwovens and Devices
Challenges
- Sterilization of Advanced Medical Instruments
- End-User Non-Compliance with Sterilization Standards
Trends
- Increasing Adoption of Sterilization Using No2
Companies Mentioned
- STERIS PLC (US)
- Getinge AB (Sweden)
- 3M (US)
- Sotera Health (US)
- Fortive (US)
- Cardinal Health (US)
- Metall Zug Group (Switzerland)
- Stryker (US)
- Merck KGaA (Germany)
- MMM Group (Germany)
- MATACHANA GROUP (Spain)
- Tuttnauer (Netherlands)
- Andersen Sterilizers (US)
- Steelco S.p.A. (Italy)
- Noxilizer (US)
- DE LAMA S.P.A. (Italy)
- Cosmed Group (US)
- C.B.M. S.r.l. Medical Equipment (Italy)
- E-BEAM Services, Inc. (US)
- Life Science Outsourcing, Inc. (US)
- Systec GmbH (Germany)
- Continental Equipment Company (US)
- Midwest Sterilization Corporation (US)
- BGS Beta-Gamma-Service GmbH & Co. KG (Germany)
- ACMAS Technologies Pvt. Ltd. (India)
For more information about this report visit https://www.researchandmarkets.com/r/ghs3la
