PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1469880
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1469880
The global sterilization equipment market is valued at an estimated USD 16.8 billion in 2024 and is projected to reach USD 24.7 billion by 2029, at a CAGR of 7.9% during the forecast period. Market growth is driven by factors such as the increasing incidence of HAIs, increasing focus on food sterilization and disinfection, growing geriatric population and the increasing incidence of chronic diseases, and advancements in sterilization equipment technology.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) Billion |
Segments | Product & Service, Technology, End User, and region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and the GCC Countries |
"The sterilization consumables segment is projected to witness highest growth rate in the assterilization equipment market, by product & service"
The global sterilization equipment market is segmented into sterilization instruments, sterilization services, sterilization consumables, and sterilization accessories based on product & service. The sterilization consumables segment is anticipated to witness highest growth rate during the forecast period. This market growth is largely attributed to increasing demand for sterilant in the industries including food, medical devices, hospitals, and labs.
"Ionizing radition sterilization segment is projected to witness highest growth rate in the sterilization equipment market, by technology, during the forecast period."
Based on technology, the global sterilization equipment market is categorized into heat/high-temperature sterilization, low-temperature sterilization, ionizing radiation sterilization, and filtration sterilization. The ionizing radiation sterilization segment is anticipated to witness growth at the highest rate during the forecast period. The high growth of this segment can primarily be attributed to the safety, reliability, and high effectiveness of ionizing radiation sterilization.
"Medical devices companies segment is projected to witness highest growth rate in the sterilization equipment market, by end user, during the forecast period."
The global sterilization equipment market is categorized into hospitals & clinics, medical device companies, pharmaceutical companies, food & beverage companies, and other end users based on the end user segment. The medical devices companies segment is anticipated to witness growth at the highest rate during the forecast period. The growth can be attributed to stringent regulations for the sterilization of medical devices and the growing medical device industry. Regulatory bodies such as the FDA impose stringent standards for the sterilization of medical devices to uphold patient safety. Consequently, medical device companies are inclined to invest in advanced sterilization equipment to align with these regulatory mandates, inducing the overall market growth.
"The Asia Pacific region is projected to witness highest growth rate in the sterilization equipment market during the forecast period"
The global sterilization equipment market is segmented into six regions - North America, Europe, Asia Pacific, the Middle East & Africa, Latin America, and the GCC Countries. The Asia Pacific region is anticipated to witness the highest growth in the sterilization equipment market during the forecast period. The growth primarily due to factors such as the increasing number of elderly individuals in nations like Japan, higher income levels per person, greater investments in healthcare, and rapid economic progress across several countries in the Asia Pacific region. Additionally, the expansion of private-sector hospitals into rural areas in various APAC countries contributes significantly to this growth trend.
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).
This report provides a detailed picture of the global sterilization equipment market. It aims at estimating the size and future growth potential of the market across different segments, such as product & service (sterilization instruments, sterilization services, and sterilization accessories, and sterilization consumables), technology (heat/high-temperature sterilization, low-temperature sterilization, ionizing radiation sterilization, and filtration sterilization), end user (hospitals & clinics, pharmaceutical companies, medical device companies, food & beverage companies, and other end users), and region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the GCC Countries).
The report's coverage includes comprehensive details about the key factors impacting the growth of the sterilization equipment market, including opportunities, challenges, opportunities, and restraints. To offer insights into their business overview, products offered, significant strategies, acquisitions and partnerships, product launches, and recent developments related to the sterilization equipment market, a thorough analysis of the major industry players has been conducted. This study examines the competitive landscape of emerging in sterilization equipment startups.
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.