New York, United States , March 09, 2023 (GLOBE NEWSWIRE) -- The Global Sterilization Equipment Market Size to grow from USD 7.1 billion in 2021 to USD 15.3 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period. The global industry growth is driven by the rise In the volume of surgical procedures performed, increasing incidence of HAIs and other infectious diseases, coupled with the increasing focus on food sterilization and disinfection. Factors such as the use of catheters, lack of proper hygiene in healthcare settings, and excessive use of antibiotics can increase predisposition to HAIs. Furthermore, an increase in the number of surgical procedures in clinics is a major factor contributing to market growth during forecast period.
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Nosocomial infections, often known as hospital acquired infections, are most frequently detected in patients receiving lengthy treatments like operations. These mostly occur in clinics, surgical facilities, ambulatory surgical facilities, hospitals, and long-term care facilities including nursing homes and rehabilitation institutes. Children, patients, and elderly persons are all impacted by HAIs. The likelihood of developing HAIs is increased by a number of variables, including the use of catheters, a lack of attention to hygiene in healthcare facilities, and the use of antibiotics. In addition to this, a rise in the number of surgeries performed in clinics will be a major element in the market's expansion. To maintain a healthy atmosphere in clinics and hospitals, basic hygiene and sanitation are required. In addition, the COVID 19 virus requires the application of preventive measures to halt its transmission. It is projected that all of these factors will increase the need for sterilisation equipment in clinics. The increased incidence of HAIs brought on by improper sanitation and a lack of preventative measures will drive the market's expansion. In addition, the prevalence of chronic illnesses has increased the number of hospital admissions globally. Some of the most essential supplies required in clinics and hospitals include sterile fluids, blankets, and equipment. So, in these situations, sterilising equipment effectively fills the need because it aims to lower the danger of infection spread among patients. Thus, it is projected that the prevalence of chronic diseases will have a favourable effect on the worldwide sterilising equipment market. In order to approve equipment, the government has implemented strict rules and regulations, which is preventing the market from expanding overall. However, other issues include a shortage of qualified specialists and inadequate knowledge of safety precautions are hindering the development of sterilising technology worldwide.
Browse key industry insights spread across 199 pages with 112 market data tables and figures & charts from the report “Global Sterilization Equipment Market Size, Share, and COVID-19 Impact Analysis, By Product (Heat Sterilizers, Low Temperature Sterilizers, Sterile Membrance Filters, Radiation Sterilization Devices), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030” in detail along with the table of contents.
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The Low Temperature Sterilizers segment is dominating the market with the largest market share over the forecast period.
On the basis of product, the global sterilization equipment is segmented into Heat Sterilizers, Low-temperature Sterilizers, Sterile Membrane Filters, And Radiation Sterilization Devices. Due to the rising need for sterilising heat- and moisture-sensitive medical equipment with complicated designs, the low temperature sterilisers category is leading the market with the biggest market share over the projection period. This method includes sterilisation using ethylene oxide (EtO), hydrogen peroxide gas plasma, and other liquid chemical material sterilisation. The category is also being driven by changes in the healthcare industry and sophisticated advancements. The segmented demand is also being driven by the growing use of sophisticated, pricey, sensitive, and difficult-to-sterilize medical equipment.
Impact of COVID-19 on the Sterilization Equipment Market
With the severe outbreak of COVID-19, there is an unprecedented global demand for advanced healthcare facilities, services, and infrastructure to treat the infected. As one of the core parts of healthcare, sterilization products such as heat, low-temperature sterilizers, and others are experiencing increasing demand from most countries across the globe to handle a surge of COVID-19 patients. There are many initiatives taking place to maintain a sterile environment and thereby reduce the risk of COVID-19.
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North America holds the largest market share over the forecast period.
Because of the favourable reimbursement policies that encourage their adoption and the rising incidence of hospital acquired infections, North America will continue to hold a disproportionately significant share of the market during the projected period. In addition, tight rules and regulations governing the provision of high-quality healthcare services encourage the usage of sterilisation equipment in clinics and hospitals, which is anticipated to fuel market expansion in the years to come.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. The major key vendors we are covered in the report that are STERIS, Getinge AB, Sotera Health, Fortive, 3M, Cardinal Health, Metall Zug Group, Stryker Corporation, Merck KGaA, MMM Group, MATACHANA GROUP, Tuttnauer, Andersen Sterilizers, Steelco S.p.A., Noxilizer, DE LAMA S.P.A., Cosmed Group, C.B.M. S.r.l. Medical Equipment, E-BEAM Services, Inc., Life Science Outsourcing, Inc., Systec GmbH, Continental Equipment Company, Midwest Sterilization Corporation, BGS Beta-Gamma-Service GmbH & Co. KG, ACMAS Technologies Pvt. Ltd., Celitron Medical Technologies Kft, Microtrol Sterilisation Services Pvt. Ltd, Consolidated Sterilizer Systems, LTE Scientific Ltd., Prince Sterilization Services LLC and among others.
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