Sterilization Equipment Market is Expected to Reach $24.7 billion | MarketsandMarkets™
Chicago, May 08, 2024 (GLOBE NEWSWIRE) -- *Sterilization Equipment market* in terms of revenue was estimated to be worth $16.8 billion in 2024 and is poised to reach $24.7 billion by 2029, growing at a CAGR of 7.9% from 2024 to 2029 according to a latest report published by MarketsandMarkets™.
The sterilization equipment market is driven by the rising focus on food sterilization and disinfection, advancements in sterilization technology, and the increasing number of hospital-acquired infections (HAIs).
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*Sterilization Equipment** Market** Scope:*
*Report Coverage* *Details*
Market Revenue in 2024 $16.8 billion
Estimated Value by 2029 $24.7 billion
Growth Rate Poised to grow at a CAGR of 7.9%
Market Size Available for 2022–2029
Forecast Period 2024–2029
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product & Service, Technology, End User, and region
Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and the GCC Countries
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity The increasing number of medical device and pharmaceutical companies in emerging economies is a significant opportunity for the sterilization equipment market
Key Market Driver Growing number of surgical procedures is prominently driving the growth of the sterilization equipment market
Sterilization is a process that involves the removal of microorganisms and other pathogens from an object or surface by treating it with chemicals or subjecting it to high heat or radiation. Sterilization is an integral part of infection control procedures. Sterilization is primarily used in healthcare, food processing, pharmaceuticals, and laboratory settings to prevent the spread of pathogens and maintain aseptic conditions.
Globally, foodborne diseases pose a significant public health concern. Manufacturing facilities within the food industry are recognized sources of foodborne illnesses, with several established pathways through which these illnesses can originate. Within the food industry, occurrences of food spoilage and foodborne illnesses are prevalent, particularly because food ingredients like herbs and spices often harbour pathogenic microbes that are vulnerable to various factors compromising food quality. Consuming contaminated or inadequately sterilized food products exposes individuals to harmful microorganisms such as parasites, bacteria, and viruses, leading to severe illnesses. Consequently, sterilization emerges as an essential practice in the food industry to mitigate the risk of foodborne diseases and uphold public health standards.
Based on product & service, the sterilization equipment market is segmented into sterilization instruments, sterilization services, sterilization consumables, and sterilization accessories. Sterilization instruments accounted for the largest share in 2023, by product & service in the sterilization equipment market. Growth in this segment is attributed to rising awareness of the prevention of infection control and patient safety, and the growth in the medical device and pharmaceutical industries.
Based on technology, the sterilization equipment market is segmented into heat/high-tempretaure sterilization, low-temperature sterilization, ionizing radiation strerilization, and filtration sterilization. Heat/ high-tempertature sterilization technology held the highest share in 2023 in the sterilization equipment market. This growth is mainly due to stringent government regulations on biomedical waste management and the applications of heat sterilization in small clinics, dental clinics, life science industry, and rural hospitals.
Based on end user, the sterilization equipment market is segmented into hospitals & clinics, medical device companies, pharmaceutical companies, food & beverage companies, and other end users. Hospitals & clinics held the largest share of the sterilization equipment market, by end user in 2023. The growing number of hospitals in Asian nations and the rising number of surgical processes carried out are responsible for this segment’s sizeable proportion.
The global sterilization equipment market is segmented into North America, Europe, the Asia Pacific, Latin America, Middle East & Africa, and the GCC Countries. In 2023, North America held the largest share in the regional market for sterilization equipment. The expansion of sterilization technology usage within the healthcare sector to mitigate Healthcare-Associated Infections (HAIs), coupled with the significant presence of leading industry players in the North American region, are pivotal factors supporting the sterilization equipment market in this geographical area.
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*Prominent Players of Sterilization Equipment Market*
· STERIS (US)
· Getinge AB (Sweden)
· Sotera Health (US)
· Fortive (US)
· 3M (US)
· Cardinal Health (US)
· Metall Zug Group (Switzerland)
· Stryker Corporation (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)
· Celitron Medical Technologies Kft (Hungary)
· Microtrol Sterilization Services Pvt. Ltd (India)
· Consolidated Sterilizer Systems (US)
· LTE Scientific Ltd. (UK)
· Prince Sterilization Services LLC (US)
· Centerpiece (US)
· Ionisos SA (France)
· Sterlab (France)
· and Medistri SA (Switzerland)
*This research report categorizes the Sterilization Equipment Market into the following segments and subsegments:*
*Regional Split*
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa
· GCC Countries
*Product & Service Split*
· Sterilization Instruments
· Sterilization Accessories
· Sterilization Consumables
· Sterilization Services
*Technology Split*
· Heat/High-Temperature Sterilization
· Low-temperature Sterilization
· Ionizing Radiation Sterilization
· Filtration Sterilization
*End User Split*
· Hospital & Clinics
· Pharmaceutical Companies
· Medical Device Companies
· Food & Beverage Companies
· Other End Users
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*Key Market Stakeholders:*
· Manufacturers of sterilization equipment, consumables, and accessories
· Contract sterilization service providers
· Pharmaceutical & biotechnology companies
· Medical device manufacturers
· Hospitals
· Clinics
*Report Objectives:*
· To provide detailed information about the factors influencing the market growth (such as drivers, trends, opportunities, and challenges)
· To define, describe, segment, and forecast the in-sterilization equipment market by product & service, by technology, by end user, and by region
· To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
· To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall sterilization equipment market
· To forecast the size of the sterilization equipment market in six main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific, Latin America, Middle East & Africa, and GCC Countries.
· To profile key players in the sterilization equipment market and comprehensively analyze their core competencies and market shares
· To track and analyze competitive developments, such as product launches and approvals; expansions; and collaborations, of the leading players in the sterilization equipment market
· To benchmark players within the sterilization equipment market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy
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*Related Reports:*
Infection Control Market
Sterilization Services Market
Medical Supplies Market
Dental Equipment Market
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