Fior Markets launched a study titled “Global Sterilization Equipment Market by Product and Services (Sterilization Instruments, Sterilization Consumables and Accessories, Sterilization Services), End-Users, Region” and Global Forecast 2018-2025.
The global sterilization equipment market is expected to reach USD 8.15 Billion in 2017 to USD 16.71 Billion by 2025 at a CAGR of 9.20%during the forecast period from 2018-2025. Increase in number of surgeries, Increase in hospital acquired infections and stringent regulatory actions to avoid these infections are propelling the growth of the market.
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The instruments segment is anticipated to grow with the highest CAGR of 12.07% in the forecast period
The product and servicesegment is divided into instruments, consumables & accessories, and services. The instruments segment is anticipated to grow with the highest CAGR of 12.07% in the forecast period. Portability and better maintenance capability of these devices are the major factors governing their growth. Growing incidence of HAIs,increasing volume of surgical procedures and growing communicable diseases such as viral and bacterial infections is increasing the demand of the segment.
The hospitals & clinics segment accounted for the largest share of 38.10% in 2017
End user segment is categorised intohospitals and clinics, medical device companies, food and beverage industry, pharmaceutical companies, and other end users.The hospitals & clinics segment accounted for the largest share of 38.10% in 2017. The growth can be attributed to increasing incidence of healthcare-associated infections (HAIs), growing number of hospitals in developing countries and increasing number of surgical procedures.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region dominated the market and was valued around USD 3.88 Billion in 2017. North America possesses huge market growth potential due to increasing demand for sterilization technologies from the healthcare industry to minimize infections and the increasing number of surgeries in this region.
Major industry players in the market include Steris Corporation, Getinge Group, Advanced Sterilization Products, 3M Company, Belimed AG, Cantel Medical, and Sterigenics International, Inc., Matachana Group, Sterile Technologies, Inc.and others.
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