Sterilization Equipment Market To Reach USD 1608.2 Million By The End of 2027 With a CAGR of 3.1% - Valuates Reports

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BANGALORE, India, Aug. 5, 2021 /PRNewswire/ -- Sterilization Equipment Market by Product Type - High Temperature Sterilization, Low Temperature Sterilization, Application -  Hospitals and Clinics, Pharmaceutical, Others, Global Opportunity Analysis and Industry Forecast, 2021 - 2026. It is published in Valuates Reports under the  Medical Devices & Equipment Category.

In 2020, the global Sterilization Equipment market size was USD 1295 million and it is expected to reach USD 1608.2 million by the end of 2027, with a CAGR of 3.1% during 2021-2027.

The major factor driving the growth of the sterilization equipment market are:

An increase in the prevalence of Healthcare-associated infections(HAI) due to the lack of sanitation and preventive measures is anticipated to propel market growth over the forecast period.

The recent COVID-19 outbreak along with the rise in the number of hospital admissions due to chronic disease is expected to further augment the sterilization equipment market growth. Sterilization equipment efficiently serves the purpose as they reduce the risk of infection transmission among patients and improve care delivery.

Government laws and regulations requiring the use of sterilization equipment in healthcare facilities to control the spread of infectious diseases are projected to give market growth prospects.

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TRENDS INFLUENCING THE GROWTH OF THE STERILIZATION EQUIPMENT MARKET

A rise in the prevalence of HAI as a result of a lack of sanitation and preventive measures is expected to drive the sterilization equipment market over the forecast period. Sterilization equipment is essential for the sterilization and cleaning of various hospital equipment since it aids in the prevention of infections and the spread of diseases. Furthermore, the increase in the number of chronic disease patients which leads to hospital admission is expected to further fuel the sterilization equipment market. 

The COVID-19 pandemic has resulted in a huge surge in demand for sterilization equipment. The coronavirus is a contagious ailment that can spread easily through the air and has been declared as a pandemic by WHO. To reduce the danger of disease transmission, sterilizing equipment is widely utilized in hospitals, clinics, and laboratories. 

Government authorities' strict laws and regulations requiring the use of sterilizing equipment to restrict the spread of the disease are projected to give market growth prospects. The sterilization equipment market is also being fueled by government initiatives to enhance the use of sterilization equipment in hospitals, as well as cooperation between research centers and enterprises to extend their product portfolios.

Moreover, emerging economies such as India and China are likely to offer a diverse range of growth prospects for market participants, owing to their large and growing populations as well as an increasing number of hospitals and clinics.

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TOP COMPANIES IN THE STERILIZATION EQUIPMENT MARKET:

The sterilization equipment market is moderately fragmented with the top five players holding a share of about 55%.

Some of the top companies in the sterilization equipment market include Getinge, Steris, Belimed, Advanced Sterilization Products, Tuttnauer, etc. 

STERILIZATION EQUIPMENT MARKET SHARE ANALYSIS:

The largest market was held by Asia-Pacific, accounting for about 35% of overall sales, followed by North America and Europe, which account for about 60% of total sales. 

Based on type, InHigh Temperature Sterilization is the largest segment, with a share of about 80%. High-Temperature Sterilization is generally preferred as they are non-toxic and cost-effective. 

Based on application, the Hospitals and Clinics segment is expected to be the most lucrative. Factors such as the rising frequency of healthcare-associated infections (HAI), the growing number of hospitals in Asian countries, and the rising number of surgical procedures performed are all contributing to this segment's high market share.

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Sterilization Equipment Market By Type

• High Temperature Sterilization
• Low Temperature Sterilization

Sterilization Equipment Market Application

• Hospitals and Clinics
• Pharmaceutical
• Others

Sterilization Equipment Market Regions

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Southeast Asia
• Australia
• Rest of Asia-Pacific
• Europe
• Germany
• France
• U.K
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Sterilization Equipment Market Companies

• Getinge
• Steris
• Belimed
• Advanced Sterilization Products
• Tuttnauer
• Shinva
• Steelco
• MMM Group
• Fedegari
• Systec
• Matachana
• Sakura Seiki
• Cisa Production
• MELAG Medizintechnik
• Laoken

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