Sterilization Global Market – Forecast To 2028
Sterilization
is an inevitable process in the medical field that uses various physical or
chemical sterilizing agents or sterilants to completely destroy, deactivate or
eradicate pathogenic microbes, both in their vegetative or sporing state, from
various healthcare products to prevent the transmission of germs and diseases
to patients and healthcare professionals using them. Various kinds of heat
sterilizers utilizing either the moist heat or dry heat sterilant, chemical
sterilizers utilizing the microbicidal chemicals like ethylene oxide
sterilizers, vaporized or gas plasma hydrogen peroxide, nitrogen dioxide, ozone
and others, radiation sterilizers using the gamma radiation, Ultra violet light
radiation, electron beam radiation or X-ray radiation are used to sterilize
broad array of healthcare products and to maintain aseptic working conditions
throughout the healthcare industry.
According to IQ4I estimations, the sterilization global market is expected
to reach $9,398.9 million by 2028 growing at a high single digit CAGR from 2021
to 2028. Factors like necessity to curb patient safety threatening and
economically straining Healthcare Associated Infections (HAIs), the requisite
to sterilize the reusable high risk or critical surgical instruments used in
the persistently escalating surgical procedures across the globe, the
regulatory mandate of terminal sterilization or aseptic processing of
healthcare products before commercialization, increasing trend of outsourcing
of sterilization services by the healthcare industry, constant progressive
refinements of various sterilization technologies, the gradual transition of
medical devices market from reprocessed to the value enhanced single use
devices and the necessity to terminally sterilize the huge volume of disposable
devices, steadily increasing and advancing healthcare facilities, healthcare
industry and research settings across the globe with increased utilization of
various sterilization products and the persistently elevating fragile geriatric
population burdened with several co-morbidities with increased medical needs
and increased vulnerability to HAIs are propelling the sterilization market growth.
Factors like high cost for sterilization product and facility installation and
upkeep, increasing concerns about the various adverse effects associated with
sterilization technologies, necessity of sterilizer, sterilization method
developers, manufacturers and contract sterilization service providers to be
compliant with stringent regulatory guidelines, paucity of skilled personnel
for performing sterilization processes and the various sterilization
compatibility challenges associated with the advanced healthcare products are
dampening the market growth.
The report
covers business intelligence
information and analysis of various Sterilization market segments based on the product and
services, end-user and geography.
Sterilization equipment segment held the largest share or revenue in 2021 and
is expected to grow at a mid single digit CAGR from 2021 to 2028 while Contract
Sterilization services segment is the fastest emerging segment that
is expected of growing at
a double digit CAGR during the forecasted period. Heat sterilization equipment segment fetched the
largest revenue in 2021 and is expected to grow at a mid single digit during
the forecasted period while Chemical Sterilization equipment segment is the
fastest emerging segment that is expected of growing at a high single digit CAGR
from 2021 to 2028. Sterility Monitoring products segment is the largest and
fastest emerging segment that is expected of growing at a high single digit
CAGR from 2021 to 2028. Ethylene oxide contract sterilization services segment
occupied the largest share in 2021 and is expected to grow at a high single
digit CAGR from 2021 to 2028 while Gamma radiation sterilization services
market is the fastest emerging service segment and is expected of growing at a double
digit CAGR during the forecast period. The medical device industry segment is
the largest and fastest emerging
segment and is expected of growing at a high single digit CAGR from 2021 to
2028. Even though North America dominates 2021 sterilization global market and is
expected of growing at a mid single digit CAGR from 2021 to 2028, Asia-Pacific
region is the fastest emerging region that is expected of growing at a double
digit CAGR during the forecasted period.
The
sterilization market is characterized by progressive refinements of existing
technologies or equipments and a constant pursuit for an ideal sterilizing
agent. Several promising eco-friendly
osmosis based sterilization technology and the Triple buster activated gas
sterilization technology are emerging. The steadily growing space of
sterilization market is substantiated by the ever expanding patent portfolio of
sterilization product companies and the constantly increasing number of most
promising industrial gamma and electron beam sterilization technology
facilities (not exclusive to healthcare product sterilization) across the
globe. U.S. and Russia are spearheading the adoption of industrial gamma and electron beam sterilization
technology respectively.
Heat
Sterilizers, Asia-Pacific region, China and Shinva Medical Instrument Co Ltd.
(China) respectively dominated the sterilizers global install base based on product
type, region, country and company in 2021.
The global COVID-19 pandemic which has been a blessing in
disguise for the sterilization industry has led to significant increase in
revenue of most of the players in the market, HAS triggered several research studies evaluating
the feasibility of various sterilization modalities in effectively sterilizing
disposable N95 respirators, led to issue of EUA for numerous Hydrogen peroxide
sterilizers so as to alleviate the shortage of PPE and respirator masks by FDA,
has increased utilization of reusable rigid sterilization containers in SPDs and
Microwave-assisted sterilization for sterilization of the biomedical waste,
especially that contaminated with Corona virus and overshadowing of the
Ethylene oxide associated sterilization controversy.
The report while
exemplifying the leveraging of the advanced sterilization products or
competencies of sterilization product or service firms by many eminent
end-users also highlights the various organic and inorganic market perpetuation
strategies of leading players in the market.
The sterilization global market is consolidated
with the top six players occupying major share of the market and other
companies occupying only minor share of the market. Some of the prominent
players in the sterilization global market are 3M Company (U.S.), Fortive
Corporation (ASP) (U.S.), Getinge AB (Sweden), MMM Group (Germany), Metall Zug
(Belimed) (Switzerland), Matachana Group (Spain), Owens & Minor Inc. (U.S.),
Sotera Health Company (U.S.), Shinva Medical Instrument Co.Ltd (China), Steris
PLC (Ireland), TUTTNAUER Co Ltd. (Israel) and others.
Contact:
Yashavanth BT
Business development executive
Phone : 0229-+918147030229
Email : yashavanth.b@iq4i.com