Sterilization equipment market size was estimated at USD _43.7 million in 2020 and is forecast to reach USD _87.9 million by 2027, growing at a CAGR of _9.6%.
Sterilization equipment is classified as the tools that are used in order to eliminate or kill any germs or bacteria on or around a certain area. These types of equipment are primarily used by hospitals, clinics, vet rooms as well as laboratories and scientists. However, due to coronavirus they are now also utilized in many workplaces and office buildings.
Recently the demand for sterilization equipment has gone up drastically due to the increasing need for places to be sterilized to stop the spread of the coronavirus. It has also gone up due to an increase in hospitals and the increasing number of patients that hospitals are having to care for.
This increase in demand has caused a huge problem for suppliers as they are unable to keep up with this growing demand. This means that certain hospitals may experience shortages in this resource and this could be a problem as if a hospital doesn’t continuously sterilize it’s instruments and operating rooms it could lead to a huge spread in bacteria and put patients at risk. Another problem is that if workplaces can’t be continuously sterilized then they cannot allow employees to work causing businesses and employees to lose money.
Sterilization Equipment Market Growth and Trends
The sterilization equipment is extensively used in various industries such as the medical industry, pharmaceutical industry, chemical industries, hospitals and clinics and other similar industries. The increasing developments in these industries has necessitated the increase in the demand for sterilization equipment thus increasing its market growth. There has been a significant increase in a number of healthcare infections recently and this has resulted in the increase in the requirement of the sterilization equipment thus accelerating its market growth. Sterilization devices are essential to remove viruses, bacteria, fungi, and all other microorganism and hence is required in majority of the high-end industries which has resulted in its increase in the market demand and growth.
The biotech and the pharmaceutical industry are anticipated to witness a rapid growth in the future and owing to the developments, the demand of sterilization equipment would increase on a very high scale over the coming years. Along with this, the technological advancements in cell therapies has boosted the market trend of the sterilization equipment. Strict rules and regulations for disinfection and sterilization of surgical devices has enhanced the market growth of the sterilization market. Also, rising medical procedures globally has exhibited the increase in the usage of sterilisation equipment which is a key factor contributing to the increase in its market revenue.
The challenges that might hinder the market growth of the sterilisation equipment are its high price, increase in the demand for disposable surgical instruments and the chemicals used in the sterilisation equipment are hazardous to health. Also, the shortage of skilled persons to utilize the equipment is a market restraint.
Segmentation Analysis
Sterilization Equipment Market Competition
Key companies operating in this industry are Getinge, Steris, Belimed, Advanced Sterilization Products, Tuttnauer, Shinva, Steelco, MMM Group, Fedegari, Systec, Matachana, Sakura Seiki, Cisa Production, MELAG Medizintechnik and Laoken.
Coverage Highlights
• Sterilization Equipment Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Sterilization Equipment Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• High-Temperature Sterilization
• Low-Temperature Sterilization
Application Outlook (Revenue, USD Million, 2020 - 2027)
• Hospitals and Clinics
• Pharmaceutical
• Others
Country (Revenue, USD Million, 2020 - 2027)
North America
• United States
• Canada
• Mexico
Asia-Pacific
• China
• Japan
• South Korea
• India
• Philippines
• Malaysia
• Australia
• Rest of Asia Pacific
Europe
• Italy
• Spain
• France
• UK
• Germany
• Belgium
• Netherlands
• Switzerland
• Russia
• Rest of Europe
South America
• Brazil
• Peru
• Chile
• Rest of South America
Middle East and Africa
• Iran
• Israel
• Saudi Arabia
• Turkey
• Africa
Sterilization Equipment Market Companies
• Getinge
• Steris
• Belimed
• Advanced Sterilization Products
• Tuttnauer
• Shinva
• Steelco
• MMM Group
• Fedegari
• Systec
• Matachana
• Sakura Seiki
• Cisa Production
• MELAG Medizintechnik
• Laoken
