U.S. sterilization equipment market is set to record a 7.7% growth rate by 2024. The geriatric population as well as favorable government policies are impelling the market growth in the region. According to demographic data in the United States, nearly 32% of the population aged 50 years and above are susceptible to various chronic diseases. Furthermore, stringent government regulations for sterilization and disinfection of medical devices will promote the market trends.
The global expansion of the number of chronic diseases in the older population has driven the demand for minimally invasive surgeries. This factor along with the rising need for sanitation in the ongoing COVID-19 pandemic could enhance the availability of sterilization equipment.
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Rising prevalence of chronic diseases has led to the acceleration of surgical procedures. High disease incidence rate, alongside the aging population, will add impetus to the global sterilization equipment market growth. The product demand is expected to observe a major upsurge owing to high surgical procedures, thereby propelling the overall market share.
The segmental growth can be attributed to a robust demand for therapies from patients with chronic disorders. Additionally, increasing healthcare spending for the development of more hospitals, along with high burden of nosocomial infections will amass considerable gains in the sterilization equipment market trends in years to come.
From the use of sterilization equipment in hospitals and clinics, the industry is likely to reach an 8.1% CAGR up to 2024. This is due to the prevalence of chronic diseases, that have urged the affected patients to opt for therapies in these healthcare settings. The willingness of consumers to spend on healthcare in developing countries has expanded the number of hospitals. Also, the penetration of nosocomial infections will augment the demand for equipment across the facilities.
Sterilization equipment manufacturers are consistently involved in the development of technically advanced devices to gain a competitive edge. They are implementing various strategies to increase their global presence. For instance, Getinge Ab introduced the GSS Steam Sterilizer at the Achema exhibition in June 2018 in Frankfurt, Germany.
The key sterilization equipment market players include Tuttnauer, TSO3, Steris Corporation, MMM Group, Belimed, Anderson Products, Getinge AB, and LTE Scientific, among others. These companies are focusing on gaining a competitive advantage through various strategies such as M&A, new product launch, and partnerships to strengthen their footprints in the global market.
For instance, Getinge AB has launched the ‘GSS Steam Sterilizer’ in June 2018 to significantly expand the customer base, geographic reach, and product portfolio. Meanwhile, in 2019, Sterifre Medical raised nearly $8 million in a funding round, in an effort to develop and commercialize a sterilization system, dubbed Aura, to disinfect healthcare devices as well as prevent premature breakage due to improper cleaning.
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Partial Chapter of the Table of Content
Chapter 4. Sterilization Equipment Market, By Product
- 4.1. Sterilization equipment market share by product, 2018 & 2025
- 4.2. Heat sterilizers
- 4.2.1. Market size, by region, 2014 – 2025
- 4.2.2. Depyrogenation oven
- 220.127.116.11. Market size, by region, 2014 – 2025
- 4.2.3. Steam autoclaves
- 18.104.22.168. Market size, by region, 2014 – 2025
- 4.3. Low-temperature sterilization
- 4.3.1. Market size, by region, 2014 – 2025
- 4.3.2. Ethylene oxide sterilizers
- 4.3.3. Hydrogen peroxide sterilizers
- 4.4. Sterile membrane filters
- 4.4.1. Sterilization equipment market size, by region, 2014 – 2025
- 4.5. Radiation sterilization devices
- 4.5.2. Electron beams
- 4.5.3. Gamma rays
- 4.6. Consumables & accessories
Charts & Figures
- FIG. 1 Industry segmentation
- FIG. 2 Global sterilization equipment market, 2014 – 2025 (USD Million)
- FIG. 3 Growth potential analysis, by product
- FIG. 4 Growth potential analysis, by end-use
- FIG. 5 Porter’s analysis
- FIG. 6 Company market share analysis
- FIG. 7 Strategy dashboard
- FIG. 8 PESTEL Analysis
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