New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sterilization Equipment and Disinfectants Global Market Report 2023" - https://www.reportlinker.com/p06277141/?utm_source=GNW
The global sterilization equipment and disinfectants market will grow from $8.15 billion in 2022 to $8.98 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The sterilization equipment and disinfectants market is expected to grow from $12.58 billion in 2027 at a CAGR of 8.8%.
The sterilization equipment and disinfectants market consist of sales of autoclaves, hot air ovens, filtration and radiation sterilization equipment, and disinfectant chemicals.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Sterilization equipment and disinfectants are products used to remove or kill microorganisms from the surface of medical equipment and supplies.
Asia Pacific was the largest region in the sterilization equipment and disinfectants market in 2022.North America was the second largest region in the sterilization equipment and disinfectants market.
The regions covered in the sterilization equipment and disinfectants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types in sterilization equipment and disinfectants are sterilization equipment and disinfectants.A disinfectant is an agent used to disinfect something.
The different methods used are the physical method, chemical method, and mechanical method. The various end-users are hospitals and clinics, pharmaceutical companies, and clinical laboratories.
Government regulations to combat the COVID-19 situation are expected to boost market growth during the forecast period.In March 2020, US EPA announced the acceleration of reviewing the submissions by disinfectant manufacturers requesting to add Emerging Viral Pathogens Claims to the already existing surface disinfectant labels.
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 the agency’s approval.The manufacturers are also allowed to release the disinfectants by just notifying the changes adopted in formulation and manufacturing facilities without waiting for US EPA approval.
EPA has also created platforms to identify and protect consumers from fraudulent Coronavirus Disinfectants Claims. Governments’ steps against COVID-19 will focus on the enhancement of the production, approval, and safety of consumers and mitigate the supply chain challenges, which will increase the revenue of the market.
Shortage in the supply of ethylene oxide gas sterilized medical equipment is expected to hinder the market growth.Ethylene oxide sterilization is a widely used method for the sterilization of medical devices.
More than 20 billion devices sold in the USA every year are sterilized with ethylene oxide, accounting for approximately 50% of devices that require sterilization.However, the FDA released a statement regarding the temporary closure of a few sterilization facilities using ethylene oxide due to safety concerns posed by the residents as exposure to this gas leads to cancer and neurological conditions.
This closure is likely to impact the supply of sterile medical devices. The shortage in the supply of ethylene oxide-sterilized medical devices is, therefore, challenging this market’s growth.
Sustainable solutions such as repeat sterilization of medical equipment including personal protective equipment are expected to boost the market during the forecast period.As there is a shortage in the supply of PPE to the hospitals offering services to COVID-19 patients, few companies have come up with repeat sterilization of used PPE like gowns and masks.
In April 2020, San-I-Pak, a California-based company that manufactures equipment for high-end waste treatment, has sterilization equipment that sterilizes used medical equipment like PPE including isolation gowns, 3M safety glasses, and several non-branded polycarbonate glasses, and surgical masks.Similarly, Battelle Memorial Institute, a non-profit research organization, is aiming to re-using the N95 respirator masks by sterilizing the N95 respirator masks as long as the masks are not made of cellulose.
Battelle has been funded with $400 million by the Defense Logistics Agency under US HHS to provide decontamination of N95 across 60 sites in the USA. Following the scarcity of PPE, decontamination or sterilization of PPE rather than replacing this vital medical equipment is expected to be a growth area.
In December 2021, Sterimed, a France-based sterilized packaging solution manufacturer acquired Westfield Medical for an undisclosed amount.The acquisition would strengthen the presence of Sterimed in the UK and many international markets.
Westfield Medical is a UK-based manufacturer of single use sterilisation barrier systems.
The countries covered in the sterilization equipment and disinfectants market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The sterilization equipment and disinfectants market research report is one of a series of new reports that provides sterilization equipment and disinfectants market statistics, including sterilization equipment and disinfectants industry global market size, regional shares, competitors with a sterilization equipment and disinfectants market share, detailed sterilization equipment and disinfectants market segments, market trends and opportunities, and any further data you may need to thrive in the sterilization equipment and disinfectants industry. This sterilization equipment and disinfectants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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