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Global Sterilization Equipment Market by Product & Service - Forecast to 2023: Market is Expected to Reach $10.51 Billion - ResearchAndMarkets.com

November 8, 2018

DUBLIN--(BUSINESS WIRE)--Nov 8, 2018--The “Sterilization Equipment Market By Product And Service [Equipment (Moist Heat, Dry Heat, Hydrogen Peroxide, Ethylene Oxide), Consumables (Sterilization Indicators, Sterilant Cassettes), Services (E-Beam, EtO, Gamma)] - Global Forecast To 2023” report has been added to ResearchAndMarkets.com’s offering.

The global sterilization market is expected to grow at a CAGR of 7% from 2018 to reach USD 10.51 billion by 2023, driven by the factors such as increasing volume of surgeries performed globally, growing need to reduce occurrences of HAIs, and focus on reducing the cost of healthcare by minimizing hospital readmissions attributed to HAIs.

Furthermore, the technological advancements in the medical device industry and increasing need for advanced sterilization equipment are expected to drive the technological growth of the sterilization equipment market by 2023.

The low temperature sterilizers segment dominated the sterilization equipment market. However, the radiation sterilization segment comprising, e-beam and gamma sterilizers is expected to grow at the fastest CAGR during the forecast period, owing to their benefits, such as shorter sterilization cycle time, lower cost of sterilization, and compatibility with majority of the advanced medical devices available in the market.

The major players operating in the sterilization technologies market are Steris, Getinge, Sotera Health, Advanced Sterilization Products, 3M, Belimed, MMM Group, Matachana Group, and Cantel Medical.

While there are numerous regional and local players in the sterilization equipment and consumables market, the contract sterilization services market is dominated by Steris and Sotera Health.

Some of the other key players in the contract sterilization services market are Cretex Companies, Medistri, COSMED Group, E-BEAM Services, Cantel Medical, Stryker Corporation, and Centurion Medical Products.

Market Dynamics

Drivers

Growing Need to Curtail Hospital-Acquired Infections Growth in the Number of Surgical Procedures Rising Demand of Sterilization in Food Industry to Prevent Food-Borne Diseases Increasing Sterilization Demand from Pharmaceutical and Biotechnology Industries

Restraints

Harmful Effects of Ethylene Oxide Concerns Regarding the Safety of Reprocessed Instruments

Opportunities

Growing Demand of Sterilization Technologies in Emerging Markets Rising Demand for E-Beam Sterilization

Challenges

Growing Adoption of Advanced Medical Instruments Driving Complexity of Sterilization End-User Noncompliance with Sterilization Standards

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Overview

5. Sterilization Equipment Market, by Technology

6. Sterilization Consumables Market, by Product

7. Sterilization Services Market, by Type

8. Sterilization Technologies Market, by End-User

9. Sterilization Technologies Market, by Region

10. Competitive Outlook

11. Company Profiles

3M Company Advanced Sterilization Products Services Inc. Belimed AG Cantel Medical Corporation. Cardinal Health Getinge AB Matachana Group MMM Goup Sotera Health Steris PLC

For more information about this report visit https://www.researchandmarkets.com/research/dzxvp6/global?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181108005632/en/

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Related Topics:Medical Devices

KEYWORD:

INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/08/2018 10:56 AM/DISC: 11/08/2018 10:55 AM

http://www.businesswire.com/news/home/20181108005632/en

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