The global Sterilization Equipment market size is expected to be worth around US$ 22.60 billion by 2030, according to a new report by Vision Research Reports.
The global Sterilization Equipment market size was valued at US$ 15.52 billion in 2020 and is anticipated to grow at a CAGR of 20.3% during forecast period 2021 to 2030.
The rising incidence of hospital-acquired infections (HAIs), the impact of the COVID-19 outbreak, and the increasing number of surgical procedures are the key factors driving the market.
The recent outbreak of COVID-19 is anticipated to significantly impact the market. The pandemic, caused by the virus SARS-CoV-2, has drastically increased the demand for medicines, emergency supplies, and hospital equipment, including gowns, antiseptics, and disinfectant products. COVID-19 is a zoonotic virus and bats were considered to be the key reservoir of the virus. The intermediate host has not been identified yet and the transmission has mainly taken place through fomites and droplets during close unprotected contact between infector and infected. Till now airborne transmission of the virus has not been reported. In December 2019, the first patient was reported in China and since then the disease has spread at a rapid pace. The first case was reported in Wuhan and it has been established that the infection was acquired from a zoonotic source. Thereafter, human-to-human transmission of the virus largely took place in families within Wuhan. From Wuhan, it gradually spread to adjoining locations, such as Hubei, Huanggang, Xiaogan, Ezhou, and Jingzhou.
The COVID-19 outbreak and increasing hospital admissions across the globe have significantly increased the demand for sterilization equipment. Consequently, the use of sterilization equipment has also increased due to the increasing number of patients in hospitals and clinics. Proper and regular sterilization of medical devices is one of the essential requirements for treating patients suffering from COVID-19. In such cases, demand for sterilization equipment is anticipated to increase, which, in turn, is expected to propel the market growth. Therefore, the outbreak of COVID-19 has significantly impacted the market and can be a high-impact rendering driver for this market.
Low-temperature sterilizers held the largest share of 31.97% in 2020. The increasing need for sterilization of heat- and moisture-sensitive medical equipment with complex designs is propelling the need for low-temperature sterilization. This technique involves ethylene oxide (EtO) sterilization, hydrogen peroxide gas plasma, and sterilization using other liquid chemical substances. Low-temperature sterilization techniques have been evolving over the decade owing to the changing healthcare environment and complex innovations. In addition, the use of expensive, complex, and delicate medical instruments that are difficult to sterilize is spurring the demand for low-temperature sterilization.
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 low-temperature sterilizers segment. There is a constant need for R&D due to the risks associated with various sterilants, which prompts manufacturers to make constant efforts, leading to the launch of new products. Some critical aspects of low-temperature sterilization, such as target specificity and toxicity, create a need for advancements in current chemicals available for sterilization. Therefore, these factors are contributing to the growth of this segment over the forecast period.
North America dominated the market and accounted for over 35.00% share of the global revenue in 2020. The large share of the regional market can be attributed to the favorable reimbursement policies, which boost the adoption of sterilization equipment, and the rising prevalence of hospital-acquired infections in the region. Stringent regulatory policies regarding the delivery of safe and quality healthcare services, such as the presence of the Patient Protection and Affordable Care Act, also mandate the usage of sterilization equipment in hospitals and clinics, which is anticipated to fuel the market growth over the forecast period.
Asia Pacific comprises developing and rapidly growing markets, such as China, Japan, and India. The market for sterilization equipment in this region is expected to witness considerable growth over the forecast period owing to factors such as the increasing need for controlling hospital-acquired infections, the growing demand for non-disposable medical devices, and the rising awareness about hygiene in hospitals and clinics. Most of the countries such as India, Singapore, Malaysia, and Thailand are members of the Organization for Economic Co-operation and Development (OECD), and their compliance with the Mutual Acceptance of Data (MAD) act assures regulatory conformity in the healthcare sector, which is attracting major market players to set up manufacturing facilities in these countries. This further boosts business in the region. In addition, the rapidly increasing number of hospitals and laboratories in this region and the booming medical tourism industry is propelling the market growth in Asia Pacific.
Sterigenics U.S., LLC
E-BEAM Services, Inc.
Ethylene Oxide Sterilizers
Hydrogen Peroxide Sterilizers
Sterile Membrane Filters
Radiation Sterilization Devices
Middle East & Africa
The Sterilization Equipment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Sterilization Equipment market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Sterilization Equipment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Sterilization Equipment market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Sterilization Equipment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Sterilization Equipment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Sterilization Equipment by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Sterilization Equipment market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Sterilization Equipment market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Sterilization Equipment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Sterilization Equipment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Sterilization Equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Sterilization Equipment market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Sterilization Equipment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Sterilization Equipment market. These factors have benefited the growth of the global market for Sterilization Equipment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Sterilization Equipment. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Sterilization Equipment are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.