The Global Market for Sterilization Equipment and Supplies is Projected to Reach US$8.6 Billion by 2024

Increased Emphasis on Reducing HAIs & Government Mandates Drive the Global Sterilization Equipment and Supplies Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Sterilization Equipment and Supplies market. The global market for Sterilization Equipment and Supplies is projected to reach US$8.6 billion by 2024, driven by rise in geriatric population, growing emphasis on reducing hospital-acquired infections, increased investments in healthcare infrastructure, and various recent changes in government policies.  

The global market for sterilization equipment and supplies is bracing for strong growth driven by increasing demand for sterilized equipment in healthcare settings, rising number of pharmaceutical companies, increase in healthcare infrastructure investments, rise in geriatric population, increasing hospital-acquired infections, and growth of the F&B sector. Owing to the high concerns over post-surgery acquired infections in hospitals, the demand for sterilized equipment is witnessing a steady increase. Governments are also investing high amounts in healthcare infrastructure and enforcing stringent standards for sterilization of medical devices, which positively drives the market growth.

Increasing percentage of GDP is spent on healthcare infrastructure and setting up of new hospitals, which leads to more surgical procedures and increased chances of post-surgery infections, driving the demand for sterilization equipment. Also, various recent changes in government policies enforced the use of sterilization equipment by various diagnostic facilities and hospitals, which lead to significant market growth. The sterilization equipment and supplies market worldwide is restrained by factors, such as preference for disposable medical devices, increasingly stringent government regulations, especially in developed regions, and excise duty imposed on medical device manufacturers. Mature market conditions of developed markets also represent a major constraint.

Filtration accounts for bulk of the revenue generated in the global market for sterilization equipment. Methods and techniques for sterilization are undergoing constant changes and moving towards safer, speedier, and cost-effective processes. Low-temperature sterilization is the fastest growing segment, owing to the increased efficiency offered by the technology. Quicker turnaround time and easy access to wrapped, sterile devices and instruments are the major fetching factors for this process. The cost-effective and environmental friendly nature of low-temperature plasma sterilization makes it a widely popular process, compared to radiation. Rising adoption of Central Sterile Supply Department (CSSD) framework, growing focus on sterilized environments, as well as introduction of cheaper and more efficient steam autoclaves is expected to boost the market for steam autoclaves. In addition, the growing need for management of ever-increasing bio-hazardous and medical waste is expected to accelerate steam autoclaves market growth.

As stated by the new market research report on Sterilization Equipment and Supplies, the United States represents the largest market worldwide, supported by aging population, increase in chronic diseases, rise in the number of hospital admissions, and government efforts to reduce hospital-acquired infections. Asia-Pacific ranks as the fastest growing market, driven by improving healthcare infrastructure, rising number of surgical procedures and also the increasing number of healthcare facilities is driving the Asia-Pacific market. In Japan, the governmental initiatives and high healthcare spending is expected to increase sales of sterilization equipment moderately. In the Middle East and Africa, higher healthcare investment bodes well for the sterilization equipment market.

Major players in the market include 3M Company, Advanced Sterilization Products, Andersen Products Inc., Belimed AG, Cantel Medical Corp., Cardinal Health Inc., Getinge AB, Matachana Group, Sotera Health LLC, Nordion Inc., Sakura SI Co., Sterile Technologies Inc., STERIS Plc., TSO3 Inc., and Tuttnauer Company, among others.

The research report titled "Sterilization Equipment and Supplies: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the market scenario, current market trends, growth drivers, issues, major market players, mergers and acquisitions, and other strategic industry activities. Market estimates and projections are provided in US$ thousand for all major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), The Middle East, and Latin America (Brazil, and Rest of Latin America). Product markets analyzed include Filtration Sterilization, Heat Sterilization, Low-Temperature Sterilization, and Radiation Sterilization.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.

To connect with us, visit our LinkedIn page.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.