Global Sterilization Technologies Market:
The global sterilization technologies market is expected to be valued at US$ 7,123.9 million in market and growing at a CAGR of 7.9 % over the forecast period by 2026. There are multiple factors such as geriatric population, rise in number of hospital-acquired infections, expansion of processed food & beverage market, and increase in adoption of sterilization technologies in medical, and cosmetic industries which act as the drivers in global sterilization technologies market. The key restraints that effect the market are high cost of sterilization equipment & devices, regulations associated with harmful gases. It has been anticipated that E-beam and gamma sterilization would boost intense opportunities for the global sterilization technologies market
Rise in Number of Hospital-Acquired Infection
It is noticed that the global sterilization technologies market has a significant market growth rate on perspective of rise in number of hospital-acquired infection. According to the World Health Organization, hundreds of millions of patients are affected by healthcare-associated infections (HAI) worldwide each year, leading to significant mortality and financial losses for health systems. Where disinfection and sterilization become an important factor for medical and surgical instruments: which open up multiple opportunities for medical devices that penetrate body sites, medications, and parenteral fluids. paving the way for a growth curve in the sterilization technology market.
North America Dominates the Market Share in the Global Sterilization Technologies Market
North America contributed major revenue followed by Europe and Asia Pacific. North America region accounted huge growth rate about 40.1% in the year 2017 and is anticipated to grow with a forecast period. Increase in prevalence of patients suffering from chronic illness with rising hospital admissions for surgical procedures and key factors boosting the region. European Centre for Disease Prevention and Control, approximately 30% of patients in Intensive Care Units (ICUs) are affected by at least one episode of healthcare-associated infection which boost the global sterilization technologies market. Asia-Pacific is the leading region, in terms of growth, due to rise in awareness regarding diseases, improvement in healthcare infrastructure, and market players.
Key player’s profiles in the global market include:
- Advanced Sterilization Products Services Inc. (U.S.)
- Atec Pharmatechnik GmbH (Germany)
- Belimed AG (U.S.)
- Getinge Group (Sweden)
- Nordion (Canada) Inc.
- Noxilizer, Inc. (U.S.)
- Sterile Technologies Inc. (U.S.)
- Steris Plc (U.S.)
- The 3M Company (U.S.)
- TSO3 Inc. (Canada).
Market players have witnessed the strategic collaboration and acquisition to expand product portfolio and strengthen their position in the market to enhance the revenue of the company.
- In June 2018, Fortive Corporation announced a binding offer with Johnson’s and Johnson’s to acquire Advanced Sterilization Products Services Inc.
- In September 2017, 3M purchased the ownership interests of Elution Technologies, LLC, which manufactures test kits to check for the presence of food allergens in food & beverages.
Global Sterilization Technologies Market Report Description:
Global sterilization technologies market report gives comprehensive outlook on sterilization technologies market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global sterilization technologies market gives historical, current, and future market sizes on the basis of type of sterilization, process, end user and region. This report studies global sterilization technologies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global sterilization technologies market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global sterilization technologies market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global sterilization technologies market.
Key Findings of the Report:
- Global sterilization technologies market expanding at significant CAGR over 2020 to 2026 owing rise in number of hospital-acquired infection
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Type of Sterilization
- Ethylene Oxide
- Ionizing Radiation
- Thermal Sterilization
- Chemical Process
- Synergetic Processes
- Physical Processes
- Pharmaceutical Industry
- Hospitals & Clinics
- Medical Device Manufacturers
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA