With 9.7% CAGR, Sterilization Equipment Market Size to Surpass USD 19.25 Billion by 2030
As per the report by Fortune Business Insights, the global Sterilization Equipment Market size is projected to reach USD 19.25 billion in 2030, at a CAGR of 9.7% during the forecast period, 2023-2030
Sterilization Equipment Market
Pune, India, Dec. 11, 2023 (GLOBE NEWSWIRE) — Global Sterilization Equipment Market Size was valued at USD 9.31 billion in 2022 and is projected to grow from USD 19.25 billion by 2030 exhibiting a CAGR of 9.7% during the forecast period. North American Market Ruled the Market Owing to Rising Healthcare Spending, Increasing Incidence of HAIs to Spur Market Growth
Sterilization equipment is used for decontaminating equipment used in healthcare facilities. The market’s growth can be attributed to the increased awareness and emphasis on infection control in healthcare settings, driven by the need to reduce hospital-acquired infections (HAIs).
This information is provided by Fortune Business Insights™ in its research report titled Sterilization Equipment Market, 2023-2030.
Key Industry Development-
- June 2021 – WASSENBURG MEDICAL and MATACHANA GERMANY entered into a strategic partnership for the German market, ensuring ongoing product innovation with patient safety as their key area of focus.
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Key Takeaways –
- Sterilization Equipment Market size in North America was USD 4.54 billion in 2022
- Increasing Prevalence of Hospital-Acquired Infection to Fuel the Demand for Sterilization Equipment
- Increasing Development of Biological Products to Fuel Market Growth over the Forecast Period
- The Chemical/gas sterilizers segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- STERIS (U.S.)
- Getinge AB (Sweden)
- ASP (U.S.)
- 3M (U.S.)
- Cardinal Health (U.S.)
- MMM Group (Germany)
- MATACHANA (Spain)
- Andersen Sterilizers (U.S.)
- Noxilizer Inc. (U.S.)
- Continental Equipment Company (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 9.7% |
| 2030 Value Projection | USD 19.25 Billion |
| Base Year | 2022 |
| Sterilization Equipment Market Size in 2022 | USD 9.31 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 96 |
| Segments covered | Product Type, End-user and Geography |
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Drivers & Restraints:
Increasing Incidence of HAIs to Spur Market Growth
The increasing incidence of HAIs, including sepsis and urinary tract infections, creates a greater need for sterilization equipment in healthcare settings. Heightened awareness among healthcare providers and facilities about the critical importance of infection control, leads to increased adoption of these products to maintain a safer and more sterile environment for patients.
However, the substantial costs associated with sterilization equipment, such as autoclave could dent sterilization equipment market growth.
Segmentation:
By Product Type
- Thermal Sterilizers
- Dry-heat Sterilizers
- Moist-heat Sterilizers
- Chemical/Gas Sterilizers
- Hydrogen Peroxide Sterilizers
- Ethylene Oxide Sterilizers
- Nitrogen Dioxide Sterilizers
- Others
By End-user
- Hospital & Specialty Clinic
- Pharmaceutical & Medical Device Manufacturers
- Others
Regional Insights:
North American Market Ruled the Market Owing to Rising Healthcare Spending
North American market dominated the sterilization equipment market share. The region’s growth is fueled by rising healthcare spending.
The European market held the lion’s share in 2022. The increasing awareness of HAI in the region underscores the significance of sterilization, driving the demand for these products to mitigate the infection risks.
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Competitive Landscape:
Key Participants Enter Acquisition Agreements to Increase Market Presence
Leading companies in the global sterilization equipment market, such as Getinge AB, 3M, and STERIS have been strategically expanding their sterilizer product portfolios to drive growth. They have demonstrated their commitment to enhancing their market presence through strategic initiatives and acquisitions.
FAQs
How big is the Sterilization Equipment Market?
Sterilization Equipment Market size was USD 9.31 billion in 2022. It is expected to reach USD 19.25 billion in 2030.
How fast is the Sterilization Equipment Market growing?
The Sterilization Equipment Market will exhibit a CAGR of 9.7% during the forecast period, 2023-2030.
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