Global Sterilization Equipment Market is anticipated to grow at a 7.0% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Sterilization Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global sterilization equipment market is estimated to be over US$ 7.0 Bn in 2017. It is anticipated to grow at a CAGR of 7.0% from 2019 to 2030.
The continual growth of the sterilization equipment market can be attributed to several factors which have led to wide scale adoption of sterilization products which are extensively used to obtain contamination free or sterile equipment. Moreover, improving healthcare infrastructure coupled with increasing funding in R&D activities worldwide is anticipated to further contribute to the substantial growth of the global sterilization equipment market between 2019 and 2030.
Rising Incidences of Hospital-acquired Infections (HAI)
Although, the current healthcare infrastructure has made considerable progress in preventing several forms of healthcare associated infections, yet, Hospital-acquired Infections (HAI) remains one of the most common complications among hospitalized patients. It is estimated that HAIs is among the top 5 leading causes of death in the U.S., and is responsible for a staggering 90,000 death every year. Therefore, sterilization and disinfection of instrument and hospital conditions is a major concern in today’s times, which requires paramount surveillance and scrutiny. Rising cases of HAI is anticipated to be a major driver for the global medical aesthetic market, which is further anticipated to grow in the coming years.
Growing Number of Surgical Procedures
Increasing number of surgeries has been a major contributor to the growing demand for sterilization equipment worldwide. According to the Centers for Disease Control and Prevention (CDC), in U.S., a total of 51 million inpatient surgical procedures were performed in 2010. It is estimated that the global burden of surgical conditions is a staggering 28-32%. Similarly, growing preference for minimally-invasive procedures in anticipated to further propel the growth of the sterilization equipment market.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Sterilization Equipment Market by Product and Service (Sterilization Consumables and Accessories, Sterilization Instruments and Sterilization Services) End Users (Medical Device Companies, Pharmaceutical Companies, Hospitals & Clinics, and Food & Beverage Industry) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/sterilization-equipment-market/21
Stringent Regulations to Restrain the Market
Regulatory framework relating to the approval process has always been a critical restraining factor for obtaining sterile certificates for several surgical and laboratories equipment. In developing countries and emerging economics, lack well-defined supervisory framework and guidelines for the diagnostic sector, is anticipated to negatively impact the growth of the market.
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy, rising medical tourism and increasing awareness regarding cosmetic treatment and latest technologies is anticipated to present a lucrative growth scenario for the medical aesthetic market in this region. Furthermore, attractive procedure rates, coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.
Major Players in the Sterilization Equipment Market
The prominent players in the global sterilization equipment market are Sterigenics U.S., LLC, Cantel Medical. , Belimed, 3M , Getinge AB, STERIS plc., Sterile Technologies, Inc. , Advanced Sterilization Products Division Ethicon US, LLC., Andersen Products, Inc., and SAKURA SI CO., LTD.
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