Sterilization Equipment Market is expected to grow at a CAGR of 10.1% from 2020 to 2028 | Elevated Need for Sterilization of Various Items due to Increasing Number of Patients on a Daily Basis
Research Reports
May 19, 2021
Research report published by Proficient Market Research “Sterilization Equipment Market, By Type (Steam Sterilizer, Dry Heat Sterilizer, ETO Sterilizer and Others); By End-use (Hospitals and Clinics, Research Laboratories, Food Industry and Others) Market – Growth, Future Prospects, Post COVID-19 Scenario 2021 – 2028”, states that the global sterilization equipment market is expected to grow at a CAGR of 10.1% during the forecast period from 2021 to 2028.
On account of the global pandemic covid-19, the need and demand for sterilization has been increased 10 folds, especially in hospitals. For preventing the virus to spread from equipment to test people, the sterilization has become very important in the present scenario. As sterilization is one of the most effective methods to clean various tools and surgical instruments it is being increasingly used in healthcare setups. Rapidly growing number of cases of covid-19 virus, the utilization of sterilization is happening in food industries, research laboratories, too.
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Several end-users such as hospitals and clinics, research laboratories, food industry, among others are increasingly using sterilization equipment. Among these the hospitals and clinic segment is growing rapidly as hospitals have become the most frequently visited site to cure patients especially those suffering from COVID-19 thereby all the equipment needs to be sterilized on a daily basis due to which the segment is going to increase the growth of the market rapidly.
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Market Players
Some of the key players in the market include Getinge Group, Cosmed Group, Inc., Belimed AG, MMM Group, Cantel Medical, Advanced Sterilization Products, Cardinal Health, Andersen Products, Inc., Noxilizer, Inc. and Merck KGaA.
Trends and Future Outlook:
In May, 2020: Getinge GE has introduced a new set of consumables for sterile reprocessing known as Superfast 20.
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Based on type, the sterilization equipment market is segmented into the following:
Steam Sterilizer
Dry Heat Sterilizer
ETO Sterilizer
Others
Steam Sterilizer segment accounted for highest demand in the overall sterilization equipment market
In 2020, the steam sterilizer segment accounted for highest demand in the overall sterilization equipment market in terms of market value due to its low cost, high efficiency and safety in using thus, making it the most reliable sterilizer equipment.
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Based on End-use, the sterilization equipment market is segmented into following:
Hospitals and Clinics
Research Laboratories
Food Industry
Others
Hospitals and Clinics segment held the overall sterilization equipment market in terms of market value
In 2020, the hospitals and clinics segment led the overall sterilization equipment market in terms of market value. In addition, with the ongoing health safety concerns, the segment is also expected to witness continued demand during the forecast period from 2020 to 2028. Increasing number of patients that visit hospitals on a daily basis is increasing the need for sterilization of different equipment.
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North America held the largest share in the sterilization equipment market
In 2020, North America held the largest share in the sterilization equipment market due to well established healthcare companies, increased medical reimbursement methods increasing the need for sterilization. Other than that, rising government involvement in health care industry to eradicate new diseases and investment towards new technology is expected to increase the growth of the market in the region.
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