Sterilization Equipment Market Size, Share, Trends, Application Analysis and Growth Forecast to 2027

Market Research Future (MRFR)’s analysis, the global sterilization equipment market is poised to thrive at a CAGR of 7% during the forecast period 2018 to 2023. The curbing of the microbial population holds sheer importance in the healthcare industry. It has motivated key players to develop technologically advanced and efficient equipment for sterilization. This, in turn, has led to exceptional developments in the sterilization equipment market over the last few years. The trend is anticipated to continue benefitting the market in the foreseeable future.

The food & beverage industry is expected to generate substantial demand for sterilization equipment owing to the rise in the hygiene concern among the consumers. Furthermore, the regulations enforced by the governments for meeting food safety standards is another major factor responsible for the growth of the sterilization equipment market over the assessment period.

The rising need for surgeries and diagnosis of chronic diseases such as cancer, transplant surgeries, etc., which requires higher levels of tidiness, is prognosticated to encourage the expansion of the sterilization equipment market in the next few years to come. However, the rising cost of sterilization equipment remains an impediment to the growth rate of the market.

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Competitive Dashboard:

Some of the key players identified in this report are 3M, Getinge AB, Sotera Health, Midmark Corporation, STERIS plc., Advanced Sterilization Products (Division of Ethicon), Boekel Scientific, Celitron Medical, Belimed, Anderson Products, Technologies Kft., Cantel Medical., LTE Scientific, Fedegari Autoclavi S.p.A., Merck & Co., Inc, and MMM Group.

Market Segmentation:

• By product, the sterilization equipment market has been segmented into heat sterilization, low-temperature sterilization, filtration sterilization, ionizing radiation sterilization. The heat sterilization segment is further sub-segmented into dry heat sterilization and moist heat sterilization. The Low-temperature sterilization segment has been sub-segmented into ethylene oxide sterilization, hydrogen peroxide sterilization, and others. The ionizing radiation sterilization segment has been sub-segmented into electron beams and gamma rays.
• By technology, the global sterilization equipment market has been segmented into steam, forced convention, vacuum, gravity, and natural convection.
• By end–user, the sterilization equipment market has been segmented into hospitals & clinics, pharmaceutical companies, food & beverage industry, research institutes, medical device companies, and others.

Regional Analysis:

The sterilization equipment market, by region, has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

Americas is the pioneer in the global healthcare sector and is expected to hold the maximum share of the global market through the forecast period. The stringent regulations imposed by the Food and Drug Administration (FDA) in the U.S. facilitates the standardization of the market, thus, accelerating revenue creation for market participants.

Europe, a regional market with tremendous growth potential, has been projected to emerge as the second-largest sterilization equipment market over the assessment period. Apart from the fact that the healthcare sector is thriving in the region, the rising cases of road accidents have also intensified sterilization equipment demand there.

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According to the statistics published by the World Health Organization in 2015, more than 2 million people met with road accidents in the region. This, in turn, has been presumed to emerge as the driving force of the regional sterilization equipment market in the forthcoming years.

Asia Pacific houses the largest population base owing to the population explosion witnessed in the region. It is anticipated to augment the sterilization equipment market in the region. Furthermore, the rising demand from the food & beverage industry is likely to benefit the proliferation of the market over the assessment period. Meanwhile, the Middle East & Africa is estimated to hold the minimum share and exhibit relatively limited growth over the next couple of years.