Sterilization Equipment Market Projected to Surpass USD 27.1 billion, Anticipating a 7.9% CAGR by 2031: Transparency Market Research, Inc.
Rising healthcare expenditure and increasing awareness of infection control measures contribute to market growth.
Wilmington, Delaware, United States, Feb. 29, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global sterilization equipment market is projected to rise at a CAGR of 7.9% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 27.1 billion is anticipated for the market in 2031. As of 2023, the demand for sterilization equipment is expected to close at US$ 14.8 billion.
The rising awareness of HAIs and their detrimental effects on patient outcomes has led healthcare facilities to prioritize infection control measures. Sterilization equipment plays a critical role in preventing HAIs by ensuring the cleanliness and safety of medical devices and equipment.
Rising healthcare expenditure worldwide, coupled with increasing investments in healthcare infrastructure development, is contributing to the expansion of the sterilization equipment market. Healthcare facilities are investing in state-of-the-art sterilization equipment to meet growing demand and maintain high standards of infection control.
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The expansion of hospitals, clinics, ambulatory surgical centers, and dental facilities globally is fueling the demand for sterilization equipment. The increasing number of healthcare facilities requires adequate sterilization solutions to support patient care and maintain a safe healthcare environment.
Continuous innovation in sterilization technologies, such as the development of low-temperature sterilization methods, rapid cycle sterilizers, and advanced disinfection systems, is driving market growth. These technological advancements offer improved efficiency, faster cycle times, and enhanced safety profiles, thereby increasing the adoption of sterilization equipment.
Key Takeaways from the Market Study
- As of 2022, the sterilization equipment market was valued at US$ 13.8 billion.
- In terms of method, the heat sterilization/high-temperature sterilization segment is expected to dominate the global market during the forecast period.
- Based on end use, the hospitals, and diagnostic centers segment is expected to account for high revenue in the market.
Competitive Landscape
Leading players in the marker are investing heavily in research and development to introduce innovative sterilization equipment that meets evolving customer needs and regulatory requirements. Continuous product innovation helps companies differentiate themselves in the market and capture new opportunities. The following players operate in the global sterilization equipment market:
- 3M
- Advanced Sterilization Products Services Inc.
- Belimed AG
- Cantel Medical Corp.
- Getinge
- Sakura Si Co. Ltd.
- STERIS Corporation
- Stryker
- Sterigenics U.S. LLC
- Matachana Group
Key Market Developments
- In January 2024, Multiply Labs, a robotics firm known for its cutting-edge automated manufacturing systems tailored for personalized drug production, joined forces with Fedegari Group, a renowned provider of custom-designed systems for manufacturing sterile drugs and medical devices. The two companies unveiled a strategic collaboration focused on automating the sterilization process for cell therapy robotic systems.
- 3M offers a range of infection prevention products, including sterilization monitoring products, sterilization wraps, and sterilizers, catering to healthcare facilities’ sterilization needs.
- Advanced Sterilization Products Services, Inc. – specializes in sterilization and disinfection solutions for healthcare facilities, including low-temperature hydrogen peroxide sterilizers and high-level disinfectants.
- Belimed AG provides a wide range of sterilization and disinfection solutions for hospitals, pharmaceutical companies, and research institutions, including steam sterilizers and washer-disinfectors.
Sterilization Equipment Market: Key Trends and Opportunistic Frontiers
- Growing emphasis on ensuring the effectiveness of sterilization processes through robust monitoring and validation systems, including biological indicators, chemical indicators, and process challenge devices.
- The demand for compact, portable sterilization equipment is rising, driven by the need for flexibility and mobility in various healthcare settings, including ambulatory surgical centers, dental offices, and field hospitals.
- Manufacturers are incorporating connectivity features and automation capabilities into sterilization equipment, enabling remote monitoring, data capture, and process optimization for improved efficiency and compliance.
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Sterilization Equipment Market – Regional Analysis
- North America holds a significant share of the sterilization equipment market, driven by factors such as advanced healthcare infrastructure, stringent regulatory standards, and high healthcare expenditure.
- The United States dominates the market in this region due to its large healthcare sector and substantial investment in infection control measures. Technological advancements and the presence of key market players contribute to market growth in North America.
- The Asia Pacific region is witnessing rapid growth in the sterilization equipment market, fueled by factors such as increasing healthcare infrastructure development, rising awareness of infection control measures, and growing healthcare expenditure. Technological advancements and the presence of domestic manufacturers contribute to market growth in Asia.
Sterilization Equipment Market – Key Segments
Method
- Heat Sterilization/High-temperature Sterilization
- Autoclaves
- Hot Air Ovens
- Low-temperature Sterilization
- Ethylene Oxide Sterilization
- Hydrogen Peroxide Gas Plasma
- Others
- Ionizing Radiation Sterilization
- Gamma Sterilization
- Electron Beam Sterilization
- Others
- Filtration Sterilization
End User
- Hospitals and Diagnostic Centers
- Pharmaceuticals Companies
- Educational Institutes
- Medical Device Companies
Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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