The global sterilants market is forecast to surpass the valuation of US$ 3.2 Bn by the end of 2031 projects ESOMAR-certified consulting firm Future Market Insights (FMI). Surging demand for sterilized medical equipments and rising inclination towards low-temperature sterilization are leading sterilants market drivers.
Hospitals are working tirelessly to avoid cross contamination by using sterilants wherever necessary, boosting the market demand. COVID-19 pandemic heightened the demand for hygienic environment to curb the transmission and control the virus outbreak. This created a surge in demand of sterilants from hospitals and clinics. Governments across the globe changed their approval policies for new product as a measure to combat the viral infection. Many market players are working towards developing aseptic and effective sterilants creating conducive environment for market growth.
Lethal nature of sterilants is one of the leading restraints to market growth. Prolonged exposure to sterilants can cause adverse reproductive effects, respiratory irritation, shortness of breath, neurotoxicity among others. The difficulty related to disposal of biomedical waste and harmful environmental effects of chemical sterilants will further hinder the market growth. Occupational Safety and Health Administration (OSHA) has levied heavy restrictions biomedical waste disposal and chemical usage in sterilants. Increasing R&D towards developing safer sterilants will elevate the market demand in upcoming years.
“Increasing government initiatives and campaigns to spread awareness regarding hygiene coupled with growing research towards creating better sterilizing agents will fuel the sterilants market growth,” says the FMI analyst
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- Growing customer preference towards better hygiene in the wake of pandemic has significantly boosted the demand for sterilants in the U.S.
- The sterilants market in China is forecast to experience am impressive growth of 6.2% CAGR throughout 2021 to 2031. The growth can be attributed to growing affordable healthcare services, better insurance policies and increasing purchasing power of the customer.
- India is expected to offer lucrative market growth opportunities during the forecast period. Rising clinical trials, low research and development cost and emergence of new market players will increase the sterilant demand in the country.
- Soaring popularity of ethylene oxide for medical device sterilization along with its high effectiveness against the bacteria and viruses will increase its market demand.
- Hospital will continue being the highest consumer of sterilants on the backs of increasing cases of human associated infections (HAIs), rising number of surgical procedures and escalating number of hospitals globally.
FMI has profiled some of the prominent market players providing sterilants that include Steris Plc., Evonik Industries AG, Thor Group, Ecolab Inc., LANXESS, OZU Corporation, Veltek Associates, Inc., Gul Biyoloji Laboratuvari, 3M Company, Cantel Medical Corporation, Arkema S.A., Metrex Research, LLC, Solvay SA, Contec, Inc., Cetylite, Inc., Whiteley Corporation. Industry leaders are developing customized sterilants to satisfy the consumer needs.
They are expanding their product range to expand their global foothold. Strategic acquisition, merger, collaboration with regional distributors are in the cards to gain competitive edge among leading players. COVID-19 pandemic surged the demand for versatile sterilants promoting market players to develop efficient products to cater the demand.
For instance, Lanxess launched “Rely+On Virkon” disinfectant in response to the pandemic in 2020. The product works best on hard surfaces and equipment and reduces the contamination of surfaces.
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Key Questions Answered in the Report
- Which is the most lucrative market for sterilants?
The U.S currently leads the North America market for sterilant products. Sales in the U.S will account for over 85% of the total demand in North America between 2021 and 2031.
- Which is the most popular product in the sterilants market?
Ethylene oxide sterilants currently dominate the market owing to their compatibility and low toxicity as compared to other sterilant products.
- Which form of sterilants are preferred more?
The liquid form dominated the sterilants market owing to the rising demand for liquid sterilants over sprays.
- Who is the leading end user of sterilants?
Hospitals are leading the end users of sterilants, owing to their high demand for sterilizing products and need for maintaining hygiene to prevent spread of infections.