Medical Device Sterilization Market Set to Reach Valuation of USD 14.14 Billion with Healthy CAGR of 8.80% by 2029, Size, Share, Demand, Future Growth and Key Players Outlook

LONDON, Nov. 3, 2022 /PRNewswire/ -- Medical Device Sterilization Market study by "Data Bridge Market Research" provides details about the market dynamics affecting the Medical Device Sterilization market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years. The most cutting-edge methods and apparatus for accumulating, documenting, estimating, and analysing market data were used in the creation of the Medical Device Sterilization market research report. In order to provide readers and users with accurate information and insights into the healthcare sector, the Medical Device Sterilization research analyses a number of market barriers and drivers using both qualitative and quantitative methods. A thorough analysis of the market's drivers, restraints, opportunities, and challenges is presented here. This comprehensive market study will aid your company in numerous ways.

Data Bridge Market Research analyses that the medical device sterilization market which was USD 7.2 billion in 2021, would rocket up to USD 14.14 billion by 2029, and is expected to undergo a CAGR of 8.80% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Sterilization is referred to as the statistically conclusive elimination of all germs, including the toughest bacteria and spores. To prevent disease transmission linked to the use of an object, sterilisation eliminates all microorganisms on the surface of an article or in a fluid. However, using essential things that have not been thoroughly sterilised suggests a high danger of infection transmission.

According to the CDC's National Diabetes Statistic Report, over 100.0 million Americans had diabetes or prediabetes as of 2017. Additionally, according to data from the WHO, diabetes was directly responsible for nearly 1.6 million deaths worldwide in 2015. A major healthcare burden has been cancer. According to WHO estimates, cancer is the biggest cause of mortality worldwide, accounting for nearly 1 in 6 fatalities. Additionally, it stated that middle- and low-income countries often account for approximately 70% of cancer-related fatalities.

Opportunities for Players:

The rate of hospital admissions has dramatically grown due to the rising frequency of chronic illnesses. Equipment, clean fluids, and blankets are a few of the necessities at hospitals and clinics. Sterilization tools therefore effectively serve the aim in such circumstances by lowering the danger of infection transmission among patients and enhancing healthcare delivery. As a result, the market is anticipated to benefit from the rising prevalence of chronic disorders throughout the forecast period.

Some of the major players operating in the Medical Device Sterilization market are:

• STERIS (U.S.)
• Getinge AB (Sweden)
• 3M (U.S.)
• Sotera Health (U.S.)
• Fortive (U.S.)
• Cardinal Health (U.S.)
• Metall Zug AG (Switzerland)
• Stryker (U.S.)
• Merck KGaA (Germany)
• MMM Group (Germany)
• MATACHANA GROUP (Spain)
• Tuttnauer (Netherlands)
• Andersen Sterilizers (U.S.)
• Steelco S.p.A. (Italy)
• Noxilizer, Inc.  (U.S.)
• DE LAMA S.P.A. (Italy)
• Cosmed Group (U.S.)
• C.B.M. S.r.l. Medical Equipment (Italy)
• E-BEAM Services, Inc. (U.S.)

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Recent Development

• In January 2021, STERIS revealed that it had finished buying Cantel Medical. STERIS will be able to expand and complement its customer base, global reach, and product and service offerings with this acquisition. This acquisition has enhanced growth by increasing product sales and demand.
• In May 2021, Merck KGaA announced staff changes at the Merck Group level in order to accelerate the trajectory of strategic growth based on research and technology. By boosting the company's market credibility, this growth enhanced revenue generating.

Important Facts about This Market Report:

• Medical Device Sterilization research report reveals this business overview, product overview, market share, demand and supply ratio, supply chain analysis, and import/export details
• The Industry report captivates different approaches and procedures endorsed by the market key players to make crucial business decisions
• This research presents some parameters such as production value, marketing strategy analysis, Distributors/Traders and effect factors are also mentioned
• The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed
• The import and export details along with consumption value and production capability of every region is mentioned in the report
• Porter's five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth
• The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies

Market Dynamics: Medical Device Sterilization Market

• Increase in the quantity of surgical procedures

Catheter use, poor cleanliness standards in healthcare facilities, and overuse of antibiotics are just a few examples of factors that can make people more susceptible to HAIs. Furthermore, one of the main drivers of market expansion is an increase in the quantity of surgical procedures performed in clinics. To maintain a healthy environment in the clinic, proper hygiene and sanitation must be maintained. Additionally, the spread of COVID-19 necessitates implementing preventative measures to limit the disease's transmission. The use of sterilising equipment in clinics is anticipated to be influenced by these factors.

• Rising prevalence of HAIs

A major driver projected to fuel market growth during the forecast period is the rising prevalence of HAIs brought on by poor sanitation and preventive measures. Around 1.7 million HAI cases and 99,000 related fatalities are recorded annually in American hospitals, according to a CDC data from 2018. In 2018, the frequency of HAIs in European countries was around 7.1%, according to a report from the European Center for Disease Prevention and Control (ECDC). Additionally, it stated that around 4,131,000 patients in Europe experience HAIs annually. Such incidents are increasing the need for sterilisation machinery.

• Rise in prevalence of chronic diseases

The prevalence of chronic diseases including diabetes, cancer, and other autoimmune disorders is expected to rise, which would raise the demand for sterilising equipment. Some of the key causes of the rising prevalence of chronic diseases include antimicrobial resistance, an increase in unhealthy and sedentary lifestyles, smoking, and alcohol use.

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Key Industry Segmentation: Medical Device Sterilization Market

By Product

• Instruments
• Reagents
• Services

By Technology

• Thermal Sterilization
• Ionizing Radiation Sterilization
• Filtration Sterilization
• Gas and Chemical Sterilization

By End-User

• Pharmaceutical Companies
• Hospitals
• Clinics
• Laboratories
• Academic
• Research Institutes
• Medical Device Manufacturers
• Others

By Distribution Channel

• Direct Tenders
• Retail Sales
• Third-Party Distributor

Regional Analysis/Insights: Medical Device Sterilization Market

The countries covered in the medical device sterilization market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominated the market and accounted for over 35.6% share of global revenue in 2021 due to favourable reimbursement policies, which boost their adoption.

Asia-Pacific region is expected to witness a considerable growth rate due to factors such as the increasing need to control hospital-acquired infections.

Table of Contents:

1.  Introduction

2.  Market Segmentation

3.  Executive Summary

4.  Premium Insights

5.  Global Medical Device Sterilization Market Regulations

6.  Market Overview

7.  Global Medical Device Sterilization Market, By Product

8.  Global Medical Device Sterilization Market, By Technology

9.  Global Medical Device Sterilization Market, By End User

10.  Global Medical Device Sterilization Market, By Distribution Channel

11.  Global Medical Device Sterilization Market, By Region

12.  Global Medical Device Sterilization Market: Company Landscape

13.  SWOT Analyses

14.  Company Profile

15.  Questionnaires

16.  Related Reports

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North America Medical Device Sterilization Market, By Product (Instruments, Reagents and Services), By Technology (Thermal Sterilization, Ionizing Radiation Sterilization, Filtration Sterilization and Gas and chemical sterilization.), By End User (Pharmaceutical Companies, Hospitals, Clinics, Laboratories, Academic, and Research Institutes, Medical Device Manufacturers and Others), By Distribution Channel (Direct Tenders, Retail Sales and Third-Party Distributor) By Country (U.S., Canada, Mexico) https://www.databridgemarketresearch.com/reports/north-america-medical-device-sterilization-market

Europe Medical Device Sterilization Market, By Product (Instruments, Reagents, and Services), By Technology (Thermal Sterilization, Ionizing Radiation Sterilization, Filtration Sterilization, and Gas and Chemical Sterilization), By End-User (Pharmaceutical Companies, Hospitals, Clinics, Laboratories, Academic, and Research Institutes, Medical Device Manufacturers and Others), By Distribution Channel (Direct Tenders, Retail Sales and Third-Party Distributor) By Country (Germany, Austria, France, U.K., Italy, Spain, Russia, Sweden, Turkey, Belgium, Netherlands, Switzerland, and Rest of Europe) https://www.databridgemarketresearch.com/reports/europe-medical-device-sterilization-market

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