Sterilization Equipment Market: Top 4 trends driving the industry size through 2024

Prevalence of hospital-acquired infections (HAI) in the developing countries across the world will anchor the adoption of sterilization medical equipment through the next few years. The spike in the number of HAIs can be accredited to the improper sterilization of mechanical ventilators as well as catheters.

As per WHO, more than 56% of the hospital-born babies in the emerging nations die in their neonatal period from HAIs. Furthermore, severe government frameworks have been formulated to minimize the occurrence of nosocomial infections.

The incursion of technological solutions will enhance the application outlook as well as the demand for sterilization machines. For instance, technical upgrades in low-temperature sterilizers like V-Pro Max System ensure optimal sterilization as they render an additional conditioning phase in the sterilization cycle. The incorporation of low-temperature peroxide gas plasma technology with vaporized hydrogen peroxide assists in the terminal sterilization of heat as well as moisture-sensitive medical devices and instruments.

Estimates suggest that the global sterilization equipment market size could cross over USD 9.2 billion in annual value by 2024.

Growing use of filtration equipment

Industry share of filtration equipment or sterile membrane filters is expected to strike a 7.3% CAGR over the coming years. This can be attributed to the wide use of these devices in sterilizing liquid and gaseous phase substances. There is also an increasing need for sterilization in various biological applications. Besides, technical innovations in the filtration equipment are leading to enhanced sterilization of biochemical fluids.

Higher presence in hospitals and clinics

From the use of sterilization equipment in hospitals and clinics, the industry is likely to reach an 8.1% CAGR up to 2024. This is due to the prevalence of chronic diseases, that have urged the affected patients to opt for therapies in these healthcare settings. The willingness of consumers to spend on healthcare in developing countries has expanded the number of hospitals. Also, the penetration of nosocomial infections will augment the demand for equipment across the facilities.

To access sample pages of this report titled, “Sterilization Equipment Market Size By Product (Heat Sterilizers {Depyrogenation Oven, Steam Autoclaves}, Low-temperature Sterilizers {Ethylene Oxide Sterilizers, Hydrogen Peroxide Sterilizers}, Sterile Membrane Filters, Radiation Sterilization Devices {Electron Beams, Gamma Rays}, Consumables & Accessories), By End-use (Hospitals & Clinics, Biotech and Pharmaceutical Companies, Medical Device Companies, Food & Beverage Industry), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:

https://www.gminsights.com/request-sample/detail/1914

U.S. and India to witness significant footprint

The U.S. is home to a large population of geriatric individuals who are prone to chronic diseases. With a considerable rise in the number of surgical procedures to tend to these diseases, the regional sterilization equipment market is pegged to grow at a 7.7% CAGR through 2024. As per the U.S. demographics, more than 32% of the U.S population that is over 50 years of age is likely to suffer from chronic diseases. Furthermore, severe government policies have been formulated across the region to disinfect and sterilize medical devices.

India sterilization equipment market contributed to more than 15.8% of the total remuneration in 2017 owing to the rising instances of HAIs. As per the WHO, the occurrence rate of HAIs in the country can be estimated at one infection per four hospital visits. The rise in consumer awareness pertaining to the prevention of HAI and the regulation of several government initiatives to increase sanitization will boost the regional adoption of the sterilization devices.

Competitive landscape from product innovations

Sterilization equipment manufacturers are consistently involved in the development of technically advanced devices to gain a competitive edge. They are implementing various strategies to increase their global presence. For instance, Getinge Ab introduced the GSS Steam Sterilizer at the Achema exhibition in June 2018 in Frankfurt, Germany.

These firms are also making large R&D investments to strengthen their product portfolio. For instance, Sterifre Medical, in 2019, collected funds close to USD 8 million to accelerate the development of a novel sterilization technology to disinfect healthcare devices. The sterilization equipment market players are 3M, Anderson Products, MMM Group, TSO3, Tuttnauer Advanced Sterilization Products Services, Belimed, Merck, Boekel Scientific, Celitron, Matachana, Fedegari Group, LTE Scientific, Midmark, and Steris Corporation. The global expansion of the number of chronic diseases in the older population has driven the demand for minimally invasive surgeries. This factor along with the rising need for sanitation in the ongoing COVID-19 pandemic could enhance the availability of sterilization equipment.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

Back to news