The global sterilization market was at $4.69 billion in 2016 and is expected to reach $6.93 billion by 2021 while growing at a compound annual growth rate of 8.8 percent, according to MarketsandMarkets.
“The overall growth of the sterilization equipment market can be attributed to factors such as the rising incidence of hospital-acquired infections (HAIs), growing number of hospitals in Asia, rising geriatric population, increasing number of pharmaceutical companies in Asia, and growth in the food and beverage industry,” according to the MarketsandMarkets report “Sterilization Equipment Market by Product, Services, Consumables and End User – Global Forecast to 2021.”
On the basis of products, the sterilization equipment market is segmented into heat sterilization/high-temperature sterilization equipment, low-temperature sterilization equipment, ionizing radiation sterilization equipment, and filtration sterilization equipment. The heat sterilization/high-temperature sterilization segment is expected to account for the largest share of the market, according to MarketsandMarkets.
“This growth is attributed to the rise in the number of mergers and acquisitions by key players in this market to expand their product portfolios,” according to the report.
ReportsnReports also predicts growth for the sterilization market.
“The medical sterilization equipment market is expected to grow, during 2016 to 2021, due to rising number of surgical procedure combined with the increasing focus on maintaining hygienic environment within health care facilities driving the sterilization equipment market. The Global Medical Sterilization Equipment and Services Market: Trends, Opportunities and Forecasts (2016-2021) report forecasts growth at a compound annual growth rate of 6.75 percent during 2016-2021.”
“Among the medical sterilization equipment, moist heat autoclave sterilizer enjoys the major market share due to the convenient set up as well as recurrent usability for medical devices,” ReportsnReports states. “However, higher percentage of growth is expected in the low temperature sterilization through gamma and electron beam sterilization in the future. Among the regions, North America is expected to drive the highest revenue while medical sterilization equipment market is expected to be highly optimistic for Asia Pacific due to the rising health care measures in the form of opting for surgical procedures as well as the growth in the number of health care facilities within the region.”
In a related report titled “Global Autoclave Market 2016-2020” ReportsnReports analysts forecast that the global autoclave market will grow at a compound annual growth rate of 7.23 percent during the period of 2016-2020.
Some major players in the sterilization equipment market include STERIS Corp., Getinge Group, Advanced Sterilization Products, 3M Company, Belimed AG, Cantel Medical Corp. and Sterigenics International Inc.