The global sterilization equipment market is projected to reach USD 13.6 billion by 2025 from USD 12.1 billion in 2020, at a CAGR of 2.5% from 2020 to 2025

New York, July 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sterilization Equipment Market by Product, End User - Global Forecast to 2025" - https://www.reportlinker.com/p03176844/?utm_source=GNW
Emerging economies are expected to provide a wide range of growth opportunities for players in the market.

Attractive Opportunities in the Sterilization Equipment Market

COVID -19 IMPACT ON THE STERILIZATION EQUIPMENT MARKET
Equipment sterilization plays a critical role in preventing the spread of COVID-19 in healthcare settings.During the outbreak, patient-to-patient pathogen transmission via medical devices can be entirely prevented by properly sterilizing medical devices.

The usage of reprocessed equipment to disinfect or sterilize medical devices is higher than normal during the pandemic since improper decontamination of surgical instruments, endoscopic devices, respiratory care devices, and reusable hemodialysis machines can lead to arise in the threat due to COVID. This has increased the demand for sterilization consumables to ensure proper sterilization of medical devices.

MARKET DYNAMICS

DRIVER: Rising incidence of hospital acquired diseases
Hospital-acquired infections (HAIs) are a major cause of morbidity and mortality worldwide.These include central line-associated bloodstream infections, catheter-associated urinary tract infections, and ventilator-associated pneumonia.

The most common bacteria associated with HAIs include C. difficile, methicillin-resistant Staphylococcus aureus (MRSA), Klebsiella, E. coli, Enterococcus, and Pseudomonas species. The growing prevalence of HAIs globally is the primary growth driver for the sterilization equipment market. HAIs affect around 5%–10% of all hospitalized patients in the US annually, as per the US Centers for Disease Control and Prevention (CDC). As reported by the OECD in 2018, nearly 3.8 million patients develop HAIs every year in Europe.

BURNING ISSUES: Non-compliance to sterilization standards
According to the Joint Commission, in 2016, there has been an increase in the non-compliance rate among hospitals, ambulatory surgery centers, and office-based surgery facilities. In addition, the aforementioned standard to reduce the risk of infections associated with medical equipment, devices, and supplies was one of the top five non-compliant requirements.

OPPORTUNITY: Re-introduction of ethylene oxide sterilization
With the growing number of cases of COVID-19 worldwide, EtO is preferred to sterilize protective gear and single-use instruments prior to their initial use.This sterilization technology plays a vital role in enabling the sterilization of critical medical products and devices before they reach patients.

According to the FDA, more than 20 billion devices sold in the US every year are sterilized with EtO, accounting for approximately 50% of the devices that require sterilization.

Sterilization instruments segment accounted for a significant share of the sterilization equipment market, by product & services, in 2019
By product & services, the sterilization equipment market is segmented sterilization instruments, sterilization consumables & accessories and sterilization services.Of all these product & service sterilization instruments accounted for the largest share of the sterilization equipment market in 2019.

The segment is also anticipated to grow at the fastest rate due to rising prevalence of chronic diseases and increasing number of surgeries performed.

Hospitals segment accounted for the largest share of the sterilization equipment market, by end user in 2019
On the basis of end user, the sterilization equipment market is segmented into hospitals & clinics, pharmaceutical companies, medical device companies, food & beverage companies, and other end users.Of all these end-user segments, hospitals & clinics accounted for the largest share of the sterilization equipment market in 2019.

The large share of this segment can be attributed to factors such as the rapidly growing aging population, the higher surgeries performed in the hospital settings and increasing cases of HAIs.

North America will continue to dominate the sterilization equipment market during the forecast period
In 2019, North America was estimated to be the largest regional market for sterilization equipment, followed by Europe. The growth in this market is primarily driven by the growing demand for sterilization technologies from the healthcare industry to minimize the occurrence of HAIs, the growing geriatric population, and the consequent rise in the demand for healthcare services.

Breakdown of supply-side primary interviews, by company type, designation, and region:
• By Company Type: Tier 1 (32%) , Tier 2 (44%), and Tier 3 (24%)
• By Designation: C-level (30%), Director-level (34%), and Others (36%)
• By Region: North America (40%), Europe (28%), AsiaPacific (20%), Latin America (6%) , and the Middle East & Africa (6%)

The some of the major players operating in this market are STERIS Corporation (US), Getinge Group (Sweden), 3M Company Group (US), and Belimed AG (Switzerland)

List of Companies Profiled in the Report
• STERIS Corporation (US)
• Getinge Group (Sweden)
• 3M Company Group (US)
• Belimed AG (Switzerland)
• MMM Group (Germany)
• MATACHANA Group (Spain)
• Sotera Health (US)
• Cantel Medical (US)
• Advanced Sterilization Products (US)
• Cardinal Health (US)
• Tuttnauer (Switzerland)
• DE LAMA S.p.A. (Italy)
• Systec GmbH (Germany)
• Steelco S.p.A. (Italy)
• Noxilizer, Inc. (US)
• Merck KGaA (Germany)
• Sartorius AG (Germany)
• E-BEAM Services, Inc. (US)
• Life Science Outsourcing, Inc. (US)
• Cosmed Group, Inc. (US)
• Andersen Products, Inc. (US)
• Stryker(US)
• C.B.M. S.r.l. Medical Equipement (Italy)
• Life Science Outsourcing, Inc. (US)
• Continental Equipment Company (US)
• Midwest Sterilization Corporation (US).

Research Coverage
This report studies the sterilization equipment market based on product & services, end user and region.The report also analyzes factors (such as drivers, restraints and opportunities) affecting market growth.

It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total sterilization equipment market.

The report forecasts the revenue of the market segments with respect to four major regions.

Reasons to Buy the Report:

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on sterilization equipment offered by the top 25 players in the sterilization equipment market. The report analyzes the sterilization equipment market by product & service, end user, and region.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various securement devices across key geographic regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the sterilization equipment market
• Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the sterilization equipment market

Frequently asked questions
• What are the growth opportunities in the sterilization equipment market across major regions in the future?
• Emerging countries have immense opportunities for the growth and adoption of sterilization services. Will this scenario continue during the next five years?
• Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?
• What are the various sterilization equipment product types and their respective market shares in the overall market?
• What are the new trends and advancements in the sterilization equipment market?
• What is the impact of COVID-19 on sterilization equipment market?

Read the full report: https://www.reportlinker.com/p03176844/?utm_source=GNW

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