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.
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.
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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
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.
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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.
Sterilants Market by Category
Product
- Ethylene Oxide (EtO)
- Glutaraldehyde
- Hydrogen Peroxide Gas Plasma (HPGP)
- Vaporized Hydrogen Peroxide
- Immersion and Vapor Phase Peracetic Acid
- Others
Form
- Liquid
- Spray
End-user
- 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
- Homecare Settings
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified 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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