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Sterilization Equipment Market Is Expected To Reach $15.6 Billion By 2030 on Account of Increasing Number of Surgical Procedures in Clinics | Grand View Research, Inc.

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Sterilization Equipment Market Is Expected To Reach $15.6 Billion By 2030 on Account of Increasing Number of Surgical Procedures in Clinics | Grand View Research, Inc.

May 20
11:20 2022
Sterilization Equipment Market Is Expected To Reach $15.6 Billion By 2030 on Account of Increasing Number of Surgical Procedures in Clinics | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, spread of COVID-19 requires the adoption of preventive measures for containing the spread of the disease, which is expected to drive the adoption of sterilization equipment in clinics.

Sterilization Equipment Market Overview

The global sterilization equipment market size was valued at USD 7.2 billion in 2021 and is expected to reach USD 15.6 billion by 2030, registering a CAGR of 10.5% during forecast period.

Hospital-acquired Infections (HAIs), also known as nosocomial infections, are primarily found in patients receiving long-term treatment, mainly surgical treatment. They can occur in surgical centers, clinics, hospitals, ambulatory surgical centers, and long-term care facilities, such as nursing homes & rehabilitation centers. Generally, the geriatric population, children, and patients with low immunity are prone to HAIs.

Gather more insights about the market drivers, restrains and growth of the Global Sterilization Equipment Market

Factors such as the use of catheters, lack of proper hygiene in healthcare settings, and excessive use of antibiotics can increase predisposition to HAIs. Furthermore, an increase in the number of surgical procedures in clinics is a major factor contributing to market growth. Maintaining proper hygiene and sanitation is necessary to maintain a healthy environment in the clinic. In addition, the spread of COVID-19 requires the adoption of preventive measures for containing the spread of the disease. These factors are expected to drive the adoption of sterilization equipment in clinics.

Increasing prevalence of HAIs due to lack of sanitation and preventive measures is a key factor anticipated to propel market growth over the forecast period. According to a CDC report in 2018, around 1.7 million cases of HAIs and around 99,000 associated deaths are reported each year in American hospitals. As per a report published by European Centre for Disease Prevention and Control (ECDC), in 2018, prevalence of HAIs in European countries was around 7.1%. It also reported that over 4,131,000 patients suffer from HAIs in Europe each year. Such cases are boosting the demand for sterilization equipment.

 

China Sterilization Equipment Market size, by product, 2020-2030 (USD Million)

 

Sterilization equipment are required for sterilization and cleaning of different equipment used in the hospitals as they help in reducing the spread of infections and diseases. An increase in the incidence of chronic diseases, such as diabetes, cancer, and other autoimmune diseases, is anticipated to boost the demand for sterilization equipment. Antimicrobial resistance, increased adoption of unhealthy & sedentary lifestyle, smoking, and alcohol consumption, are some of the major factors contributing to the growing prevalence of chronic diseases.

According to the National Diabetes Statistic Report 2017, by CDC, more than 100.0 million people in the U.S. were living with diabetes or prediabetes. In addition, the WHO reported that in 2015, approximately 1.6 million global deaths were directly caused due to diabetes. Cancer has been a global healthcare burden. According to estimates by WHO, cancer is the leading cause of death globally and almost 1 in 6 deaths can be attributed to this disease. In addition, it reported that over 70% of cancer-related deaths typically occur in middle- and low-income countries.

The rising prevalence of chronic conditions has significantly increased hospital admission rate. Blankets, sterile fluids, and equipment are some of the essential requirements in hospitals & clinics. Thus, in such cases, sterilization equipment efficiently serve the purpose, as they reduce the risk of infection transmission among patients and improve care delivery. Thus, the increasing prevalence of chronic diseases is expected to positively impact the market during the forecast period.
 

Sterilization Equipment Market Segmentation

Based on the Product Insights, the market is segmented into heat sterilizers, low-temperature sterilizers, sterile membrane filters and radiation sterilization devices

  • Low-temperature sterilizers held the largest share of 32.0 % in 2021.  This is attributable to the increasing need for sterilization of heat- and moisture-sensitive medical equipment with complex designs.
  • Factors such as increasing surgical procedures, the expanding patient population, rising life expectancy, and the unmet need for sterilization of complex substances are driving the growth of this segment.
  • Some critical aspects of low-temperature sterilization, such as target specificity and toxicity, create a need for advancements in current chemicals available for sterilization. These factors contribute to the growth of this segment.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa

  • North America dominated the market and accounted for over 35.6% share of global revenue in 2021. The large market share of the region can be attributed to favorable reimbursement policies, which boost their adoption, and the rising prevalence of hospital-acquired infections in the region.
  • The market in the Asia Pacific region is expected to witness a considerable growth rate owing to factors such as the increasing need for controlling hospital-acquired infections and growing demand for non-disposable medical devices coupled with rising awareness about hygiene in hospitals and clinics.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

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Market Share Insights

  • April 2020: U.S. FDA approved the use of Steris V-PRO 1 Plus, maX2, & maX low-temperature sterilization systems for decontamination of around 750,000 N95 respirators and similar masks each day in hospitals used for treating COVID-19 patients.
  • April 2019: Fortive completed the acquisition of Advanced Sterilization Products business segment from Johnson & Johnson, which also includes STERRAD Sterilization System.

Key Companies Profile

Companies are engaging in partnerships, mergers, and acquisitions, aiming to strengthen their product portfolio, and manufacturing capacities, and provide competitive differentiation.

Some of the prominent vendors in the global sterilization equipment market include

  • STERIS PLC.
  • Sterigenics U.S., LLC
  • Cantel Medical
  • E-BEAM Services, Inc.
  • Fortive

Order a Free sample PDF of the Sterilization Equipment Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com

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