Sterilization Equipment Market size to grow by USD 3.70 billion from 2021 to 2026 -Technavio

NEW YORK, June 28, 2023 /PRNewswire/ -- The sterilization equipment market size is estimated to grow by USD 3.70 billion from 2021 to 2026, growing at a CAGR of 7.93%. North America is estimated to account for 36% of the growth of the global market during the forecast period. US and Canada are the key markets for sterilization equipment in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions. The expanding healthcare sector in the region, the increasing number of hospital-acquired infections (HAIs), and the strong market presence of the leading vendors will facilitate the sterilization equipment market growth in North America over the forecast period. According to The World Bank Group, between 2005 and 2018, healthcare expenditure in North America increased from 14.10% of the gross domestic product (GDP) in 2005 to 16.41% in 2018. The healthcare expenditure in the US increased by 9.7%, reaching USD 4.1 trillion or USD 12,530 per person in 2020. The country's healthcare expenditure had a share of 19.7% of the GDP in 2020. Globally, the US healthcare sector is the leading healthcare sector. Therefore, owing to these factors, the region's sterilization equipment market is expected to grow during the forecast period. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) - View Sample report

Vendor Landscape
The sterilization equipment market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Market Dynamics

Major Drivers & Challenges- 

The strategic initiatives of market players are the key factors driving the growth of the sterilization equipment market. The international sterilization equipment market is highly competitive and the vendors in the market adopt strategies such as mergers and acquisitions (M and A), expansion projects, new product launches, and growing production capacity to tackle the competition in the market. Vendors invest in developing customized solutions to augment their foothold in the market. However, intense competition in the market is anticipated to force established vendors to expand their market presence through M and A and strategic alliances. Further, the healthcare facilities such as hospitals and clinics are selecting vendors based on their product's degree of excellence and properties. With the growing demand for sterilization equipment from end-users, vendors are opting for M and A and strategic alliances to enhance their market reach and customer base. These strategic alliances and partnerships among vendors are supporting them, improving their operations and increasing their geographical presence. Therefore, such activities will fuel the growth of the global sterilization equipment market during the forecast period.

The disadvantages and harmful effects of ETO sterilizers will be a major challenge that may impede the sterilization equipment market during the forecast period. Even though ETO is regarded as one of the widely used sterilization techniques, it has different destructive effects on patients and healthcare workers. It is considered a known human carcinogen. Also, the drawbacks associated with its use can result in a preference for other alternatives such as hydrogen peroxide sterilizers. Such factors can lead to its lowered adoption and adverse effect on the growth of the global sterilization equipment market during the forecast period. The main drawbacks associated with ETO sterilizers are the prolonged cycle time, its potential dangers to patients and staff, and the high costs associated with the ETO sterilization process. The harmful effects of ETO and growing safety concerns regarding the use of surgical instruments sterilized through ETO sterilization processes are expected to hinder the growth of the market.

Key Trends-

The increasing number of surgical procedures is a sterilization equipment market trend that is expected to have a positive impact during the forecast period. HAIs are mainly acquired by patients obtaining long-term treatments such as surgical treatments. HAIs are especially acquired in surgical centers, clinics, hospitals, ambulatory surgical centers, and long-term care facilities, such as rehabilitation centers and nursing homes. HAIs not only pose a hazard to the patient's health but also lead to long hospital stays, thereby creating an economic disadvantage to patients and healthcare systems. The increasing majority of chronic conditions such as obesity, diabetes, cardiovascular disease, and cancer have led to an upsurge in the hospital admission rate. Various types of sterilization equipment are important requirements in hospitals and clinics, which decreases the risk of infection transmission among patients and leads to enhanced patient care. The rising number of cancer cases in regions all across the world has resulted in an increased need for surgical procedures to treat cancer. Therefore, the increasing prevalence of chronic conditions and the demand for surgical procedures will lead to an augmented incidence rate of SSIs. Therefore, such factors will have a favourable impact on the growth of the global sterilization equipment market.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The sterilization equipment market report includes information on the product launches, sustainability, and prospects of leading vendors including 3M Corp., ACMAS Technologies Pvt. Ltd., Andersen Sterilizers, C.B.M. S.r.l. Medical Equipment, Cantel Medical., Cardinal Health Inc., Continental Equipment Co, Cosmed Group, De Lama Spa, Fortive Corp., Getinge AB, Merck KGaA, MMM Group, Noxilizer Inc., Sotera Health Co., Steelco SpA, STERIS Plc, Stryker Corp., Systec GmbH, Tuttnauer, and YATHERM SCIENTIFIC.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

 Market Segmentation

This report extensively covers sterilization equipment market segmentation by product (low-temperature sterilizers, heat sterilizers, sterile membrane filters, and radiation sterilization devices) and geography (North America, APAC, Europe, and the Rest of the World (ROW)). 

• The sterilization equipment market share growth by the low-temperature sterilizers segment will be significant during the forecast period. This segment holds the largest share of the global sterilization equipment market. There is an increasing need for sterilization of heat-sensitive medical devices and equipment, which is driving the demand for low-temperature sterilizers. Further, the use of expensive, moisture-sensitive, and delicate medical devices that are tough to sterilize, such as endoscopes, is driving the growth of the market segment. 

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1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021 

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments 
• Exhibit 24: Chart on Product - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product - Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Low-temperature sterilizers - Market size and forecast 2021-2026 
• Exhibit 28: Chart on Low-temperature sterilizers - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Low-temperature sterilizers - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Low-temperature sterilizers - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Low-temperature sterilizers - Year-over-year growth 2021-2026 (%)

• 5.4 Heat sterilizers - Market size and forecast 2021-2026
• Exhibit 32: Chart on Heat sterilizers - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Heat sterilizers - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Heat sterilizers - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Heat sterilizers - Year-over-year growth 2021-2026 (%)

• 5.5 Sterile membrane filters - Market size and forecast 2021-2026 
• Exhibit 36: Chart on Sterile membrane filters - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Sterile membrane filters - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Sterile membrane filters - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Sterile membrane filters - Year-over-year growth 2021-2026 (%)

• 5.6 Radiation sterilization devices - Market size and forecast 2021-2026 
• Exhibit 40: Chart on Radiation sterilization devices - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Radiation sterilization devices - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Radiation sterilization devices - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Radiation sterilization devices - Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by Product 
• Exhibit 44: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 APAC - Market size and forecast 2021-2026
• Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
• Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 Rest of World (ROW) - Market size and forecast 2021-2026 
• Exhibit 62: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)

• 7.7 US - Market size and forecast 2021-2026
• Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026
• Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 Germany - Market size and forecast 2021-2026
• Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.10 Canada - Market size and forecast 2021-2026
• Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026
• Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 Market opportunity by geography 
• Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers 

• 8.2 Market challenges 

• 8.3 Impact of drivers and challenges 
• Exhibit 87: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends 

9 Vendor Landscape

• 9.1 Overview 

• 9.2 Vendor landscape 
• Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 92: Matrix on vendor position and classification

• 10.3 3M Corp. 
• Exhibit 93: 3M Corp. - Overview
• Exhibit 94: 3M Corp. - Business segments
• Exhibit 95: 3M Corp. - Key news
• Exhibit 96: 3M Corp. - Key offerings
• Exhibit 97: 3M Corp. - Segment focus

• 10.4 Andersen Sterilizers 
• Exhibit 98: Andersen Sterilizers - Overview
• Exhibit 99: Andersen Sterilizers - Product / Service
• Exhibit 100: Andersen Sterilizers - Key offerings

• 10.5 Cantel Medical. 
• Exhibit 101: Cantel Medical. - Overview
• Exhibit 102: Cantel Medical. - Product / Service
• Exhibit 103: Cantel Medical. - Key offerings

• 10.6 De Lama Spa 
• Exhibit 104: De Lama Spa - Overview
• Exhibit 105: De Lama Spa - Product / Service
• Exhibit 106: De Lama Spa - Key offerings

• 10.7 Getinge AB 
• Exhibit 107: Getinge AB - Overview
• Exhibit 108: Getinge AB - Business segments
• Exhibit 109: Getinge AB - Key news
• Exhibit 110: Getinge AB - Key offerings
• Exhibit 111: Getinge AB - Segment focus

• 10.8 MMM Group 
• Exhibit 112: MMM Group - Overview
• Exhibit 113: MMM Group - Product / Service
• Exhibit 114: MMM Group - Key offerings

• 10.9 Sotera Health Co. 
• Exhibit 115: Sotera Health Co. - Overview
• Exhibit 116: Sotera Health Co. - Product / Service
• Exhibit 117: Sotera Health Co. - Key offerings

• 10.10 Steelco SpA 
• Exhibit 118: Steelco SpA - Overview
• Exhibit 119: Steelco SpA - Product / Service
• Exhibit 120: Steelco SpA - Key offerings

• 10.11 STERIS Plc 
• Exhibit 121: STERIS Plc - Overview
• Exhibit 122: STERIS Plc - Business segments
• Exhibit 123: STERIS Plc - Key news
• Exhibit 124: STERIS Plc - Key offerings
• Exhibit 125: STERIS Plc - Segment focus

• 10.12 Stryker Corp. 
• Exhibit 126: Stryker Corp. - Overview
• Exhibit 127: Stryker Corp. - Business segments
• Exhibit 128: Stryker Corp. - Key news
• Exhibit 129: Stryker Corp. - Key offerings
• Exhibit 130: Stryker Corp. - Segment focus

11 Appendix

• 11.1 Scope of the report 

• 11.2 Inclusions and exclusions checklist
• Exhibit 131: Inclusions checklist
• Exhibit 132: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 133: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 134: Research methodology
• Exhibit 135: Validation techniques employed for market sizing
• Exhibit 136: Information sources

• 11.5 List of abbreviations 
• Exhibit 137: List of abbreviations

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