Sterilization Equipment Market Projected to Grow 7.6% by 2027
Sterilization Equipment and Disinfectant Market
Transparency Market Research (TMR) has published a new report titled, ‘Sterilization Equipment and Disinfectant Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global sterilization equipment and disinfectant market was valued at US$ 5.3 Bn in 2018 and is projected to expand at a CAGR of 7.6% from 2019 to 2027.
Overview
- Sterilization and disinfectants are a vital component for infection-control as medical devices require sterilization and disinfection after usage, since they get contaminated. The world is currently experiencing the pandemic of an infectious disease called COVID-19. Government is taking initiatives to address this urgent public health concerns by helping to increase the availability of sterilizers, disinfectants, and air purifiers during this public health emergency. Increased access to these products and devices may facilitate rapid turnaround of sterilized or disinfected medical equipment and reduce the risk of viral exposure for patients and health care providers to SARS-CoV-2. This in turn to creates significant opportunity in the sterilization equipment and disinfectant market.
- The sterilization equipment and disinfectant market is currently a booming one, owing to current exceptional crisis scenario of the COVID-19 pandemic. Focused on research and development to reprocessing of disposable personal protective equipment and ongoing promising approaches i.e. steam or heat sterilization of medical masks is augmenting the demand for sterilization equipment and disinfectant. This in turn to driving the growth of market.
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- North America dominate the global sterilization equipment and disinfectant market in 2018 and the trend is anticipated to continue during the forecast period. Well established healthcare infrastructure and rising demand for non-disposable surgical instruments are the factors anticipated to drive the growth of sterilization equipment and disinfectant market in the region.
- Asia Pacific is likely to be a highly lucrative market for the sterilization equipment and disinfectant market and it is expected to expand at a high CAGR during the forecast period. Vast patient pool, increasing healthcare expenditure and demand for newer advanced therapies are key factors likely to boost sterilization equipment and disinfectant market in Asia Pacific.
Surge in Number of Patient with Various Chronic Diseases to Drive Global Sterilization Equipment and Disinfectant Market
- Change in lifestyle and unhealthy diet leading to cause various chronic diseases among population. Cancer is the leading cause of death globally. For instance, according to GLOBOCAN 2018, in 2018, 3,792,000 number of cancer cases in the Americas, 4,230,000 number of cases in Europe and 8,751,000 cases in Asia were reported
- Besides, surge in prevalence and incidence rate of other chronic conditions such as, cardiac diseases, chronic respiratory diseases, diabetes and chronic kidney disease, owing to increasing geriatric population is projected to propel the global sterilization equipment and disinfectant market.
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Heat Sterilization Segment to Dominate Sterilization Equipment and Disinfectant Market
- In terms of method, the global sterilization equipment and disinfectant market has been segmented into heat sterilization, radiation sterilization, filtration sterilization and low temperature sterilization. Heat sterilization segment accounted for major share of the market in 2018 and the trend is projected to continue during the forecast period. Inexpensive nature and easy of handling are the factors anticipated to drive the growth of segment. Autoclaves and hot air ovens are two most commonly utilized heat sterilization equipment available in the market. Heat sterilization segment further divided into dry heat sterilization and moist heat sterilization segment.
Oxidising Agents Segment Hold a Major Share of Global Sterilization Equipment and Disinfectant Market
- In terms of disinfectant type, the global sterilization equipment and disinfectant market has been classified into oxidizing agents and non-oxidising agents. Oxidizing agents further bifurcated into ethylene oxide, formaldehyde vapour and others. Oxidizing agents have strong penetrating power in all microorganism due its light molecular weight. Hence it has proven efficacy of effective sterilization. This strong feature drives the growth of the segment. Non-oxidising agents are further classify into quaternary ammonium compounds, phenols and others
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Hospitals and Diagnostics Centers to Dominate Global Sterilization Equipment and Disinfectant Market
- Based on end-user, the global sterilization equipment and disinfectant market has been segmented into hospitals and diagnostic centers, medical devices companies, pharmaceutical companies and research & educational institutes
- Hospitals and diagnostic canters accounted for major share of the market owing high number patient diagnosis, treatment rate and availability of technological advanced products at hospitals. Research and educational institutes is accounted for significant share of the market. Rise in focus in research and development is a factor augmenting the growth of segment
North America to Dominate Global Sterilization Equipment and Disinfectant Market
- In terms of region, the global sterilization equipment and disinfectant market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global sterilization equipment and disinfectant market in 2018, followed by Europe.
- North America accounted for major share of the global sterilization equipment and disinfectant market in 2018. High disease prevalence, supportive healthcare and payer infrastructure, and hub for key industry players are the major drivers of the sterilization equipment and disinfectant market in the region.
- The sterilization equipment and disinfectant market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. Unmet medical needs, untapped nature of the market, rise in health care infrastructure, high prevalence and incidence of chronic diseases, surge in number of geriatric population and rise in awareness are the key factors for sterilization equipment and disinfectant market growth in the region
Competitive Landscape
- The global sterilization equipment and disinfectant market is fragmented in terms of number of players. Key players in the global sterilization equipment and disinfectant market include Advanced Sterilization Products Services, Inc. (A Johnson & Johnson Company), Getinge AB, STERIS plc., Belimed, 3M Company, Cantel Medical Corp., TSO3 Inc., SAKURA SI Co., Ltd., Matachana Group and CISA production srl
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