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Sterilization Equipment Market Worth $12.5 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 29, 2019 /PRNewswire/ -- According to the new market research report "Sterilization Equipment Market by Product & Services (Instruments (Heat, Low temperature), Consumables & Accessories (Indicators, Lubricant), Services (E beam, Gamma)), End User (Hospitals and Clinics, Pharmaceutical Companies) - Global Forecast to 2024", published by MarketsandMarkets™, the Sterilization Equipment Market is estimated at USD 8.9 billion in 2019, the global Sterilization Equipment Market size is expected to reach USD 12.5 billion by 2024, growing at a CAGR of 7.0% during the forecast period between 2019 and 2024.
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The rapid growth in the pharmaceutical & biotechnology industry, rising incidence of hospital-acquired infections, an increasing number of surgical procedures, and growing focus on food sterilization & disinfection are the major factors driving the growth of this industry.
Sterilization instruments accounted for the largest share of the sterilization equipment industry, by product & services, in 2018
Based on instruments, the Sterilization Equipment Market is segmented into sterilization instruments, sterilization consumables & accessories, and sterilization services. The sterilization instruments segment accounted for the largest market share in 2018. This can be primarily attributed to the rising prevalence of chronic diseases, and the increasing number of surgeries performed. Furthermore, rise in the global food supply and need to ensure the safety and quality of food products, has driven the overall demand for sterilization instruments.
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216 – Tables
28 – Figures
196 – Pages
By end user, the hospital & clinics segment accounted for the largest market share in 2018
Based on the end user, the Sterilization Equipment Market is segmented into pharmaceutical companies, hospitals & clinics, medical device companies, the food & beverage industry, and other end users. The hospitals & clinics segment accounted for the largest market share in 2018. The rising incidences of healthcare-associated infections (HAIs), a growing volume of surgical procedures performed, and increasing number of hospitals in Asian countries are major factors responsible for the dominant share of this segment.
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North America was the largest regional market for osteoarthritis therapeutics in 2018
By region, the Sterilization Equipment Market is segmented into Europe, North America, the Asia Pacific, and the Rest of the World. In 2018, North America accounted for the largest market share, followed by Europe. This is attributed to factors such as the growing demand for sterilization technologies from the healthcare industry to minimize the occurrence of hospital-acquired infections (HAIs). This will result in the growth of the sterilization equipment industry in North America as compared to other regions.
The prominent players operating in the global Sterilization Equipment Market include STERIS Corporation (US), Getinge Group (Sweden), 3M Company Group (US), Belimed AG (Switzerland), MMM Group (Germany), MATACHANA Group (Spain), Sotera Health (US), Cantel Medical (US), Advanced Sterilization Products (US), Cardinal Health (US), Tuttnauer (Netherlands), DE LAMA S.p.A. (Italy), SysTec GmbH (Germany), Steelco S.p.A. (Italy), Noxilizer, Inc. (US), Merck KGaA (Germany), Sartorius AG (Germany), E-BEAM Services, Inc. (US), Life Science Outsourcing, Inc. (US), Cosmed Group, Inc. (US), and Andersen Products, Inc. (US).
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Infection Control Market by Product (Disinfection (Disinfectant, Wipes, Sprays, Liquids, Disinfectors, UV, Wraps), AER, Sterilization (Steam, Hydrogen Peroxide, Radiation, Indicators, Services), End User (Hospitals, Life Science)) - Global Forecast to 2024
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