Global Sterilization Equipment Industry, 2027 - Increasing Number of Medical Device and Pharmaceutical Companies in Emerging Economies Presents Opportunities - ResearchAndMarkets.com

2022-11-29

DUBLIN--(BUSINESS WIRE)--The "Global Sterilization Equipment Market by Product & Service (Instruments (Dry Heat, Ethylene Oxide), Consumables & Accessories (Indicators, Pouches), Services (Ethylene Oxide, Steam)), End-user (Hospitals & Clinics, Pharmaceuticals), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

'Global Sterilization Equipment Market by Product & Service (Instruments (Dry Heat, Ethylene Oxide), Consumables & Accessories (Indicators, Pouches), Services (Ethylene Oxide, Steam)), End-user (Hospitals & Clinics, Pharmaceuticals), and Region - Forecast to 2027'

The global sterilization equipment market is valued at an estimated USD 13.7 billion in 2022 and is projected to reach USD 20 billion by 2027, at a CAGR of 7.9% during the forecast period. Market growth is driven by factors such as the increasing incidence of HAIs, increasing focus on food sterilization and disinfection coupled with increasing outsourcing of sterilization services among pharmaceutical companies, hospitals, and medical device manufacturing companies.

The sterilization instruments held the largest share of the sterilization equipment market, by product & service

The global sterilization equipment market is segmented into sterilization instruments, sterilization services, and sterilization consumables & accessories based on product & service. Market growth is largely attributed to the rise in the volume of surgical procedures and stringent regulatory mandates for infection control.

Among the end-users, the pharmaceutical companies segment is anticipated to register the highest growth during the forecast period

Based on end-users, the sterilization equipment market is segmented into hospitals & clinics, medical device companies, food & beverage companies, pharmaceutical companies, and other end-users. The pharmaceutical companies segment is anticipated to witness growth at the highest rate during the forecast period. The growth can be attributed to the increasing number of pharmaceutical companies in developing nations such as India and China.

The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period

The global sterilization equipment market is segmented into five regions - North America, Europe, the Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific region is expected to witness the highest growth in the sterilization equipment market during the forecast period. The high growth in this region can primarily be attributed to the rising incidence of nosocomial infections, growth in the pharmaceutical and medical device industries, and improved healthcare infrastructures in Southeast Asian countries.

Research Coverage

This report provides a detailed picture of the global sterilization equipment market. It aims at estimating the size and future growth potential of the market across different segments, such as product & service, end-user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

Market Dynamics

Drivers

Rising Incidence of Hospital-Acquired Infections

Growing Number of Surgical Procedures

Growing Geriatric Population and Increasing Incidence of Chronic Diseases

Increasing Focus on Food Sterilization and Disinfection

Increasing Outsourcing of Sterilization Services by Pharmaceutical Companies and Hospitals

Opportunities

Increasing Number of Medical Device and Pharmaceutical Companies in Emerging Economies

Rising Use of e-Beam Sterilization

Reintroduction of Ethylene Oxide Sterilization

Rising Adoption of Single-Use Medical Nonwovens and Devices