LONDON, Sept. 01, 2020 (GLOBE NEWSWIRE) -- The rising spread of COVID-19 pandemic created a demand for respiratory devices including ventilators, sanitizers, masks, scrub suits and other devices, and this increased demand is expected to boost the sterilization equipment and disinfectants market during the forecast period. Patients diagnosed with Covid-19 have chance of severe lower respiratory tract infection, which means patients are required to be on ventilator support. For instance, around 12% of COVID-19 patients in China have been put on a ventilator. In 2019, 77,000 new ventilators were enough to meet the global market demand whereas, by April 2020, New York City alone required 30,000 additional ventilators to combat COVID-19. As more and more people are getting infected with the coronavirus, it is expected to increase demand for critical care equipment which is leading to increased demand for sterilization equipment and disinfectants.
Ethylene oxide (EtO) sterilization method plays an important role in the battle against COVID-19. EtO sterilization is a cold sterilization process and is most suitable for medical devices that cannot withstand high temperatures, such as syringes, gowns, gloves, catheters, products with plastic tubing, respiratory devices, and masks. In the US, there were closures of some ethylene oxide gas sterilization facilities due to safety concerns regarding local residents, as the exposure to this gas leads to cancer and neurological conditions. Despite this, due to increase in COVID-19 infected personnel, ethylene oxide gas sterilization facilities were reopened in 2020.
For instance, in May 2020, the US Food and Drug Administration (FDA) asked the governor of Georgia to reopen medical device EtO sterilization plants to start the sterilizing process of essential personal protective equipment (PPE) products that includes gowns, respiratory devices, masks and gloves, which are indispensable for hospitals to respond to the COVID-19 pandemic.
The Business Research Company’s report titled Sterilization Equipment And Disinfectants Market Global Report 2020-30: COVID 19 Implications And Growth covers major sterilization equipment and disinfectants companies, sterilization equipment and disinfectants market share by company, sterilization equipment and disinfectants manufacturers, 2020 global sterilization equipment and disinfectants industry outlook, global sterilization equipment market size and disinfectants market size, sterilization equipment and disinfectants market growth, surface disinfectant market, and sterilization equipment and disinfectants market forecasts. The sterilization equipment market report also covers the global sterilization equipment and disinfectants market and its segments. The sterilization equipment and disinfectants market share is segmented by product type into sterilization equipment, and disinfectants. The market is also segmented by method into physical method, chemical method, and mechanical method. By end-user, the market is segmented into hospitals and clinics, clinical laboratories, and pharmaceutical companies.
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The global sterilization equipment and disinfectants market size is expected to grow from $7,142.3 million in 2019 to $9,846.9 million in 2023 at a compound annual growth rate (CAGR) of 8.4%. In 2020, the sterilization equipment market size was valued at $8,049.3 million, driven by increased demand for sterilization equipment, disinfectants, and critical care equipment due to COVID-19. In support of the growing needs for such equipment, governments around the world have relaxed some restrictions in order to provide quick solutions to their people.
For example, in March 2020, the US EPA (Environment Protection Agency) announced the acceleration of reviewing the submissions by disinfectant manufacturers requesting to add Emerging Viral Pathogens Claims to the already existing surface disinfectant labels. The EPA also took steps against supply chain challenges by increasing the flexibility of procurement of inert ingredients and even some active ingredients listed in List N – “Disinfectants for Use Against SARS-CoV-2,” without checking for agency’s approval. Manufacturers are also allowed to release the disinfectants by just notifying the changes adopted in formulation and manufacturing facilities without waiting for the US EPA’s approval. The EPA has also created platforms to identify and protect consumers from fraudulent Coronavirus Disinfectant Claims. Governments’ steps against COVID-19 will focus on the enhancement of the production, approval and safety of consumers and mitigate any supply chain challenges, further driving the sterilization equipment and disinfectants market during the forecast period.
On the flip side of COVID-19’s impact on the sterilization equipment and disinfectants market, there has been a decrease in aesthetic procedures which is restraining market growth. Aesthetic procedures such as breast implantation, lipoplasty, hair transplantation, laser hair removal, non-essential dental procedures and other similar treatment have declined in number due to increase in COVID-19 cases. For instance, in June 2020, NHS hospitals in the UK suspended all non-urgent aesthetic surgeries for around three months, in an attempt to free-up resources for COVID-19 treatment.
Similarly, in the US, the federal government and the American College of Surgeons have advised the country’s hospitals and clinics to postpone all types of aesthetic procedures. Decrease in aesthetic procedures will decrease the demand for sterilization equipment, hence hindering the growth of the market during the period.
Sterilization Equipment And Disinfectants Market Global Report 2020-30: COVID 19 Implications And Growth is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, sterilization equipment and disinfectants market trends, sterilization equipment and disinfectants market drivers, sterilization equipment and disinfectants market restraints, sterilization equipment and disinfectants market-leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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