Unlocking the Future: Sterilization Equipment Market Forecast to Expand at 7.9% CAGR

Sterilization Equipment Market in terms of revenue was estimated to be worth $16.8 billion in 2024 and is poised to reach $24.7 billion by 2029, growing at a CAGR of 7.9% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The expanding number of surgical procedures, the rising prevalence of hospital-acquired illnesses, and the increased emphasis on food sterilisation and disinfection are driving the sterilisation equipment market. The growing prevalence of E-beam sterilisation along with the rising number of pharmaceutical and medical device companies in emerging nations present the sterilisation equipment market with profitable growth prospects.

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The sterilization instruments accounted for the largest share of the sterilization equipment market, by product & service segment, in 2023

The global sterilization equipment market is segmented into sterilization instruments, sterilization services, and sterilization accessories, and sterilization consumables based on product & service. Growth in this particular segment is predominantly propelled by several factors, including the escalating prevalence of Hospital-Acquired Infections (HAIs), the increasing volume of surgical procedures being conducted, stringent regulatory requirements focusing on infection prevention, and the expansion of both the medical device and pharmaceutical sectors.

In 2023, the heat/high-temperature sterilization segment held the largest share of the in sterilization equipment market, by technology segment.

Based on technology, the sterilization equipment market is broadly segmented into heat/high-temperature sterilization, low-temperature sterilization, ionizing radiation sterilization, and filtration sterilization. The growth of this segment is mainly due to its simplicity and the need for low capital investment. Also, the wide applications of heat sterilization in small clinics, rural hospitals, dental clinics, and the life science industry are driving the sterilization equipment.

The hospitals & clinics segment accounted for the largest share of the sterilization equipment market, by end user, in 2023

The sterilization equipment market for end users is categorized into hospitals & clinics, pharmaceutical companies, medical device companies, food & beverage companies, and other end users. The surge in chronic and infectious diseases has notably fueled expansion within the hospitals & clinics end user segment. However, the growing healthcare industry in emerging nations like China, India, and Brazil is anticipated to help in notable expansion of this segment's growth. This growth can be attributed to factors such as increasing awareness, the flourishing medical tourism sector, improving affordability of healthcare services, and governmental backing for the advancement of healthcare infrastructure within these regions.

North America stands out as the leading regional market in the sterilization equipment market.

The global sterilization equipment market is divided into six key regions: North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and the GCC Countries. As of 2023, North America has dominated the global sterilization equipment market. The significant market share held by North America can primarily be attributed to the increasing prevalence of infectious diseases and the presence of major industry players within the sterilization equipment market.

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Sterilization Equipment Market Dynamics:

Drivers:

1. Growing number of surgical procedures is prominently driving the growth of the sterilization equipment market

Opportunities:

1. The increasing number of medical device and pharmaceutical companies in emerging economies is a significant opportunity for the sterilization equipment market

Challenge:

1. A significant challenge facing the sterilization equipment market is the sterilization of advanced medical devices

Key Market Players of Sterilization Equipment Industry:

The major players operating in this market are STERIS (US), Getinge AB (Sweden), Sotera Health (US), Fortive (US), 3M (US), Cardinal Health (US), Metall Zug Group (Switzerland), Stryker Corporation (US), Merck KGaA (Germany), MMM Group (Germany), MATACHANA GROUP (Spain), Tuttnauer (Netherlands), Andersen Sterilizers (US), Steelco S.p.A. (Italy), Noxilizer (US), DE LAMA S.P.A. (Italy), Cosmed Group (US), C.B.M. S.r.l. Medical Equipment (Italy), E-BEAM Services, Inc. (US), Life Science Outsourcing, Inc. (US), Systec GmbH (Germany), Continental Equipment Company (US), Midwest Sterilization Corporation (US), BGS Beta-Gamma-Service GmbH & Co. KG (Germany), ACMAS Technologies Pvt. Ltd. (India), Celitron Medical Technologies Kft (Hungary), Microtrol Sterilisation Services Pvt. Ltd (India), Consolidated Sterilizer Systems (US), LTE Scientific Ltd. (UK), Prince Sterilization Services LLC (US), Centerpiece (US), Ionisos SA (France), Sterlab (France), and Medistri SA (Switzerland).

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Recent Developments of Sterilization Equipment Industry:

• In June 2023, STERIS plc announced that it has successfully acquired the assets from BD (Becton, Dickinson and Company) related to surgical instrumentation, laparoscopic instrumentation, and sterilization containers.
• In December 2023, Getinge unveiled an innovative and modular load handling solution designed for seamless integration with the company's GEV terminal sterilizers.
• In October 2023, the strategic acquisition of Healthmarks by Getinge not only consolidates Getinge's presence in the infection prevention sector within the United States but also enhances its global customer outreach in Europe and Asia.
• In October 2023, ASP has unveiled a substantial enhancement to its Sterilization Monitoring portfolio, introducing innovative Steam Monitoring products.
• In May 2022, Sterigenics S.A.S., a subsidiary of Sotera Health Company, expanded its electron beam ("E-beam") facility in Columbia City, Indiana.

Sterilization Equipment Market - Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall sterilization equipment market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, challenges, trends, and opportunities.

Content Source:

https://www.prnewswire.com/news-releases/sterilization-equipment-market-worth-24-7-billion--marketsandmarkets-302120869.html

https://www.marketsandmarkets.com/Market-Reports/sterilization-equipment-services-market-642.html

https://www.marketsandmarkets.com/PressReleases/sterilization-equipment-services.asp