Originally published on Technavio:Sterilization Equipment Market by Product and Geography Forecast and Analysis 2022-2026

Sterilization Equipment Market Forecast 2022-2026

The forecast predicts an increase in the sterilization equipment market size by USD 3.70 billion between 2021 and 2026, exhibiting a CAGR of 7.93%. The report presents market size, historical data from 2017 to 2021, and future projections, all in terms of value (USD billion).

Market Analysis

One of the driving factors for market growth is the strategic initiatives undertaken by market players. The global market, characterized by high competitiveness, sees vendors adopting strategies such as mergers and acquisitions (M&A), expansion projects, new product launches, and increased production capacity to address market competition. Vendors invest in developing customized solutions to strengthen their market presence. Intense competition is anticipated to lead established vendors to expand their market reach through M&A and strategic alliances.

Healthcare facilities, including hospitals and clinics, choose vendors based on their product superiority. With rising demand for equipment, vendors opt for M&A and strategic alliances to enhance market reach and customer base. These collaborative efforts contribute to improved operations and increased geographical presence, fostering market growth and forecasting.

Market Segmentation

Low-temperature sterilizers are the Leading Segment to Dominate the Market

Significant growth in the low-temperature sterilizers segment is expected during the forecast period, holding the largest market share globally. The demand for low-temperature sterilizers arises from the necessity to sterilize heat-sensitive medical devices and equipment. The segment's dominance is further propelled by the utilization of expensive, moisture-sensitive, and delicate medical devices, such as endoscopes, posing challenges for traditional sterilization methods.

North America Holds a Prominent Position in the Market

North America is estimated to contribute 36% to the market's growth during the forecast period, with the US and Canada being key markets. Growth in this region is expected to outpace European and ROW regions. Factors such as the expanding healthcare sector, increasing cases of hospital-acquired infections (HAIs), and the strong market presence of leading vendors contribute to the research and growth of the market in North America. The report provides detailed information on competitive intelligence, marketing gaps, and regional opportunities for vendors, aiding in the creation of efficient business plans.

Market Companies Overview

The market is fragmented, with significant players including 3M Corp and ACMAS Technologies Pvt. Ltd. The report provides detailed analyses of the competitive landscape, including information about 15 market companies.

Market Analyst Overview

The market experiences steady growth due to the increasing demand for preventive measures against Hospital-acquired Infections (HAIs) and the prevalence of chronic diseases. Patients undergoing long-term treatment, surgical procedures, and those in ambulatory surgical centers, nursing homes, and rehabilitation centers are particularly at risk.

To Learn deeper into this report , View Sample PDF

The market is driven by the need for proper hygiene in healthcare settings and the overuse of antibiotics. Ethylene Oxide (EtO) type and low-temperature sterilizers like hydrogen peroxide gas plasma are commonly used for sterilizing surgical instruments, catheters, blankets, and sterile fluids. New products focusing on patient safety, target specificity, and low toxicity are being developed. The key end-users are clinics, hospitals, and long-term care facilities, especially for patients with low immunity, such as the geriatric population and children. Market growth is supported by the rising adoption of sanitation practices and the need to combat antimicrobial resistance.

For more information please contact.

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/