The global Sterilization Equipment Market reached a value of approximately US$ 13.2 Billion by the end of 2021. It is expected to experience a compound annual growth rate (CAGR) of 8.3% and reach a valuation of US$ 29.7 Billion by 2032.
The demand for Sterilization Equipment is primarily driven by the increasing prevalence of chronic diseases and the growing geriatric population worldwide.
Sterilization Equipment plays a crucial role in healthcare facilities by eliminating harmful microorganisms from fluids and surfaces of tools. Various methods are employed, including liquid chemical processes, steam, dry heat, ultraviolet (UV) chambers, clean-in-place (CIP) systems, and autoclave machines. These methods are employed to reduce the risk of contamination and ensure the safety of both patients and healthcare staff.
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In recent times, manufacturers have introduced innovative techniques such as ozone, hydrogen peroxide gas plasma, and ethylene oxide (EO) gas to sterilize equipment at lower temperatures, offering more efficient and effective solutions.
Advent of Telehealth and Virtual Care to Create Tailwind for the Sterilization Equipment Market Growth
Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.
During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.
Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Sterilization Equipment market.
Key Sterilization Equipment Market Takeaways and Projections
- The US is estimated to continue dominating the North America market, projecting fastest growth in the region through 2032.
- Germany Sterilization Equipment market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2022 to 2032.
- China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
- India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.
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Report Benefits & Key Questions Answered
- Sterilization Equipment Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Sterilization Equipment market. It also studies the impact of these dynamics on the market for the previous assessment period 2017 to 2021 to forecast the scope of market growth over the coming forecast period 2022 to 2032.
- Sterilization Equipment Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Sterilization Equipment market. As per the survey, Sterilization Equipment sales will project steady growth over the forecast period.
- Sterilization Equipment Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Sterilization Equipment market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
- Sterilization Equipment Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.
Competitive Landscape Analysis
The latest study conducted by FMI provides in-depth insights into the global Sterilization Equipment market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Sterilization Equipment market.
Some of the prominent market players are profiled by FMI are:
Teleflex Incorporated, Hollister Incorporated, Amsino International, Inc., Boston Scientific Corporation, B. Braun Melsungen AG, Medline Industries, Inc., Becton, Dickinson and Company (BD), Wihuri Packaging Oy, C.R. Brad, Coloplast
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Key Segments Covered in the Sterilization Equipment Market Report
By Product:
- Equipment
- Heat Sterilization Equipment
- Moist Heat Sterilizers
- Dry Heat Sterilizers
- Low-temperature Sterilization Equipment
- Hydrogen Peroxide / Gas Plasma Sterilization
- Ethylene Oxide Sterilizers
- Ozone-based Medical Sterilizers
- Formaldehyde Sterilizers
- Others
- Radiation Sterilization Equipment
- Filtration Sterilization Equipment
- Heat Sterilization Equipment
- Consumables & Accessories
- Sterilization Indicators
- Biological Indicators
- Chemical Indicators
- Sterilants
- Instrument Packaging & Pouches
- Others
- Sterilization Indicators
By Services:
- Ethylene Oxide Sterilization Services
- Gamma Sterilization Services
- E-beam Sterilization Services
- Steam Sterilization Services
- Other Sterilization Services
By End User:
- Hospitals
- Clinics
- Medical Device Companies
- Pharmaceutical Companies
- Food and Beverages Industry
- Others
Region
- North America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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