Sterilization Equipment Market Worth 11.14 Billion USD by 2023
PUNE, India, June 5, 2018 /PRNewswire/ --
According to a new market research report "Sterilization Equipment Market by Product & Service (Instrument (Heat, Filtration, Low Temperature), Consumables and Accessories (Detergents, Indicators), Services (E beam, Gamma)), End User (Hospitals, Pharmaceutical Companies) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach USD 11.14 Billion by 2023 from USD 7.94 Billion in 2018, at a CAGR of 7.0%.
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Browse 178 market data Tables and 26 Figures spread through 181 Pages and in-depth TOC on "Sterilization Equipment Market"
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The major factors driving the growth of this market are the rising incidence of hospital-acquired infections, increasing number of surgical procedures, rising focus on food sterilization and disinfection, technological advancements in sterilization equipment, and increasing number of hospitals in Asia. On the other hand, the presence of stringent regulations may restrain the growth of this market during the forecast period.
Sterilization instruments accounted for the largest market share in 2017
By product and service, the Sterilization Equipment Market is classified into instruments, consumables & accessories, and services. The sterilization instruments segment accounted for the largest market share in 2017. The large share can be attributed to the growing incidence of HAIs and the growing volume of surgical procedures across the globe.
The hospitals and clinics segment dominated the market in 2017
On the basis of end user, the Sterilization Equipment Market has been segmented into hospitals and clinics, medical device companies, food and beverage industry, pharmaceutical companies, and other end users. The hospitals & clinics segment accounted for the largest share of the Sterilization Equipment Market in 2017. The large share of this segment can be attributed to increasing incidence of healthcare-associated infections (HAIs), growing number of hospitals in Asian countries, and increasing number of surgical procedures.
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North America is estimated to command the largest share of the market in 2018
Based on region, the Sterilization Equipment Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2018, North America is expected to account for the largest share of the global sterilization equipment market. The increasing demand for sterilization technologies from the healthcare industry to minimize the occurrence of HAIs and the increasing number of surgeries in this region are the major factors supporting the growth of the Sterilization Equipment Market in North America.
Key players in the Sterilization Equipment Market include Steris Corporation (US), Getinge Group (Sweden), Advanced Sterilization Products (US), 3M Company (US), Belimed AG (Switzerland), Cantel Medical (US), and Sterigenics International, Inc. (US)
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