Sterilization Equipment Market Size, Share, Growth, Trends, Competitive Landscape, Revenue, Forecast Report 2027

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Latest Study on “Sterilization Equipment Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.

The global Sterilization Equipment market size is expected to be worth around US$ 21.8 Billion  by 2027, according to a new report by nova one advisor.

The global Sterilization Equipment market size was valued at US$ 12.3 Billion  in 2020 and is anticipated to grow at a CAGR of 7.11% during forecast period 2021 to 2027.

Overview of Sterilization Equipment Market Study

Sterilization Equipment market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

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Growth Factors:

The global Sterilization Equipment market healthcare industry, sterilization equipment is an important measure used to avoid the spread of infectious diseases. These diseases are caused by pathogenic microorganisms, such as viruses, bacteria, parasites or fungi. The diseases can be spread, either from one person to another, directly or indirectly, form infected or non-sterilized surgical or medical devices used to treat a person, or from being in the infected environment of any healthcare facility. Thus, to prevent and reduce the occurrence rate of infectious diseases, various healthcare facilities are adopting sterilization equipment, methods, and programs to improve the quality of care and provide a safe environment to the patients and other personnel working in the same facilities.

Global Sterilization Equipment Market Dynamics
DRIVER: Rising incidence of hospital-acquired infections
Hospital-acquired infections (HAIs) are a major cause of morbidity and mortality worldwide. These include central line-associated bloodstream infections, catheter-associated urinary tract infections, and ventilator-associated pneumonia. The most common bacteria associated with HAIs include C. difficile, methicillin-resistant Staphylococcus aureus (MRSA), Klebsiella, E. coli, Enterococcus, and Pseudomonas species. The growing prevalence of HAIs globally is the primary growth driver for the sterilization equipment market.

According to the Centers for Disease Control and Prevention (CDC), up to 1.7 million hospitalized patients in the US annually acquire healthcare-associated infections (HCAIs) while being treated for other health issues, and more than 98,000 of these patients (one in 17) die due to HCAIs. In addition, 32% of all HAIs in the country are urinary tract infections, 22% are surgical-site infections, 15% are lung (pneumonia) infections, and 14% are bloodstream infections. According to the US Census Bureau, the number of individuals aged 65 and above was estimated at 52.3 million in 2019; this figure is expected to increase to 83.7 million by 2050. The rising geriatric population and the increasing incidence of chronic diseases will result in increased hospitalization rates, which, in turn, will increase the occurrence of HAIs. This is expected to boost the demand for sterilization products and services for the sterilization of medical instruments and other devices.

OPPORTUNITY: Growing healthcare sector and increasing outsourcing in emerging economies
Emerging economies such as India, China, Brazil, Russia, and countries in Latin America and Southeast Asia are expected to provide significant growth opportunities to players operating in the sterilization equipment market. Over half the world’s population resides in India and China, making these markets home to a large patient population. Public pressure to improve the quality of hospital care, the increased cost of HAIs in healthcare systems, the emergence of multi-drug-resistant microorganisms, and the initiatives of government authorities play an important role in the growth of the sterilization equipment market in these countries.

According to an IBEF report, the Indian healthcare industry is expected to witness a CAGR of 16.8%, with a drastic increase in the per capita healthcare expenditure (2019). The inpatient hospitalization rate is expected to register a CAGR of 13.6% and occupy close to 86% of the market. This increasing hospitalization rate is driven by the increasing incidence of lifestyle diseases. The private sector has benefited significantly from this; the CAGR of the private hospitals market in India is estimated at 24.2%.

CHALLENGE: Sterilization of advanced medical instruments
There are certain concerns related to the cleaning, disinfection, and sterilization of advanced medical devices. Inadequate sterilization of these devices might expose patients to the risk of acquiring HAIs. Moreover, with the introduction of technologically advanced instruments such as endoscopes and analyzers in the market, there is a growing need for advanced sterilizers compatible with the automated endoscope reprocessors (AER) used for cleaning and disinfecting flexible endoscopes after each procedure. Inappropriate sterilization of these complex and delicate instruments can increase the risk of infection among patients. An AER that is difficult to use or one that breaks down frequently can significantly increase the risk of improper or ineffective endoscope sterilization and create costly delays. Currently, reprocessing of these instruments after every use is a major challenge faced by healthcare providers in complying with sterilization standards.

Sterilization Instruments accounted for the largest share of global sterilization equipment market in 2020.
Based on product & service, the sterilization equipment market is segmented into sterilization instruments, sterilization services, and sterilization consumables & accessories. Sterilization instruments form the largest and fastest-growing product segment in this market. The growth of this segment is primarily driven by the rising incidence of HAIs, increasing number of surgeries performed, stringent regulatory mandates for infection control, and the growth in the medical device and pharmaceutical industries.

By End User, hospitals & clinics accounted for the largest market share in 2020
Based on end user, the sterilization equipment market has been segmented into hospitals & clinics, medical device companies, food & beverage companies, pharmaceutical companies, and other end users. The hospitals & clinics segment accounted for the largest share of the sterilization equipment market in 2020. The large share of this segment can be attributed to the increasing incidence of HAIs, the growing number of hospitals in Asian countries, the growing volume of surgical procedures performed, and the increasing government initiatives to curb HAIs.

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COVID-19 Impact on Sterilization Equipment Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Sterilization Equipment market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Sterilization Equipment market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Sterilization Equipment market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Sterilization Equipment market include:

STERIS PLC; Sterigenics U.S., LLC; Cantel Medical; E-BEAM Services, Inc.; Fortive.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

  • Product Outlook
    • Heat Sterilizers
      • Depyrogenation Oven
      • Steam Autoclaves
    • Low-temperature Sterilizers
      • Ethylene Oxide Sterilizers
      • Hydrogen Peroxide Sterilizers
      • Others
    • Sterile Membrane Filters
    • Radiation Sterilization Devices
      • Electron Beams
      • Gamma Rays
      • Others

Browse Complete Table of Content@ https://www.novaoneadvisor.com/toc/sterilization-equipment-market

Why Buy this Report?

The purpose of Nova one advisor’s Sterilization Equipment market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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