Sterilants sales will continue rising as focus on maintaining a clean and hygienic environment increases to prevent the spread of infections. Future Market Insights in a new study has predicted the sterilants market to reach US$ 2.31 Bn by 2021. Sterilants are chemical agents that destroy (or irreversibly inactivate) bacteria, fungi, and viruses, including their spores. They are also known as sporicides or sterilizers.
The sterilants market is expected to grow significantly in terms of revenue over the forecast period owing to the rising incidence of infectious disease transmission and surging demand for compatible sterilants. Among products available, the demand for ethylene oxide (EtO) is expected to remain considerably high. It is expected to account for over one-fourth sales in the market.
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Demand for sterilants is poised to surge especially amid the COVID-19 outbreak. Consecutive waves of the pandemic has put hospitals and healthcare clinics under pressure to efficiently manage a rising footfall of patients. While the healthcare sector is pulling up the sleeves to contain the soaring number of cases infected with the virus, focus on maintaining a clean and hygienic environment is rising as well.
Healthcare organizations are adopting various policies to respond to the pandemic, one of them being increasing investment in sanitization and sterilants to prevent the risk of infection. Consequently, despite supply chain disruptions witnessed amid the crisis, the demand for sterilants will continue rising.
Key Takeaways from Sterilants Market Study
- Global sterilants market is estimated to rise at a CAGR of 5.9% during the forecast period (2021-2031)
- Presence of a sophisticated healthcare infrastructure and willingness to spend on health and hygiene will support sales in the U.S., which will account for 88% of the North America market in 2021
- Despite ongoing restriction to contain pandemic, the U.K. market will continue rising. In 2021 it is expected to register 4.3% y-o-y growth
- Expansion of the healthcare sector will creative conducive environment for growth in India
- Rising disposable income and favorable insurance policies will support the expansion of sterilants market in China
“Competition in the sterilants market is rising. Consequently the existing market players are likelier to focus on expansion strategies besides product launches. Some of them are entering into strategic collaborations will other companies,” says the FMI Analyst.
Development of Effective and Compatible Sterilants to Meet the End Users’ Demand is A Key Strategy for Sterilants Market Players
The leading manufacturers are focusing on research and development to develop effective and compatible sterilants that can meet the end users’ demand. The current pandemic outbreak and the growing global demand for multifunctional sterilizing products have led the manufacturers to increase their research efforts and expand their product portfolio through innovative product launches. For instance, in 2020, in response to the pandemic situation of the coronavirus outbreak, Lanxess launched a high-level disinfectant named Rely+On Virkon.
Key Participant Insights
Some of the companies covered by FMI include 3M Company, Steris Plc., Cantel Medical Corporation, Evonik Industries AG, Arkema S.A., Thor Group, Metrex Research, LLC, Ecolab Inc., Solvay SA, LANXESS, Contec, Inc., OZU Corporation, Cetylite, Inc., Veltek Associates, Inc., Whiteley Corporation, Gul Biyoloji Laboratuvari, and others. These players are consolidating their positions through mergers, acquisitions and new product launches. Besides this they are adopting various strategies to consolidate their market share.
For instance, in 2021, Steris Plc acquired Cantel, a global provider of infection prevention products and services primarily for endoscopy and dental customers, by entering into a definitive agreement through a U.S. subsidiary.
Scope of the Report
|Historical Data Available for||2016-2020|
|Market Analysis||USD Million for Value|
|Key Regions Covered||North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa|
|Key Companies Covered||
|Key Countries Covered||US, Canada, Germany, Brazil, Mexico, Argentina, Belize, Puerto Rico, Germany, Italy, France, U.K., Spain, Russia, Poland, Romania, Netherlands, Belgium, China, Japan, South Korea, Taiwan, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, UAE, Saudi Arabia, Egypt, Turkey, Northern Africa, and South Africa|
|Key Segments Covered||Product, Form, End-user and Region|
|Report Coverage||Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives|
|Customization & Pricing||Available upon Request|
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Future Market Insights (FMI) brings a comprehensive research report on forecast revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global sterilants market is segmented in detail to cover every aspect of the market and present a complete market intelligence report to the reader. The study provides compelling insights on the sterilants market on basis of product type such as ethylene oxide (EtO), glutaraldehyde, hydrogen peroxide gas plasma (HPGP), vaporized hydrogen peroxide, immersion and vapor phase peracetic acid and others. Based on form, sterilants are segmented into liquids and sprays. Based on end-users, the market is segmented into hospitals, clinics, ambulatory surgical centers, diagnostic laboratories, reference laboratories, rehabilitation centers, long-term care centers, critical care centers, pharmaceutical & biotechnology companies, academics and research institutes and homecare settings.
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About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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