CHICAGO, April 19, 2024 /PRNewswire/ — Sterilization Equipment Market in terms of revenue was estimated to be worth $16.8 billion in 2024 and is poised to reach $24.7 billion by 2029, growing at a CAGR of 7.9% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The expanding number of surgical procedures, the rising prevalence of hospital-acquired illnesses, and the increased emphasis on food sterilisation and disinfection are driving the sterilisation equipment market. The growing prevalence of E-beam sterilisation along with the rising number of pharmaceutical and medical device companies in emerging nations present the sterilisation equipment market with profitable growth prospects.
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Browse in-depth TOC on “Sterilization Equipment Market”
281 – Tables
51 – Figures
313 – Pages
Sterilization Equipment Market Scope:
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Report Coverage |
Details |
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Market Revenue in 2024 |
$16.8 billion |
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Estimated Value by 2029 |
$24.7 billion |
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Growth Rate |
Poised to grow at a CAGR of 7.9% |
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Market Size Available for |
2022–2029 |
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Forecast Period |
2024–2029 |
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Forecast Units |
Value (USD Billion) |
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Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
Product & Service, Technology, End User, and region |
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Geographies Covered |
North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and the GCC Countries |
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Report Highlights |
Updated financial information / product portfolio of players |
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Key Market Opportunities |
The increasing number of medical device and pharmaceutical companies in emerging economies is a significant opportunity for the sterilization equipment market |
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Key Market Drivers |
Growing number of surgical procedures is prominently driving the growth of the sterilization equipment market |
The sterilization instruments accounted for the largest share of the sterilization equipment market, by product & service segment, in 2023
The global sterilization equipment market is segmented into sterilization instruments, sterilization services, and sterilization accessories, and sterilization consumables based on product & service. Growth in this particular segment is predominantly propelled by several factors, including the escalating prevalence of Hospital-Acquired Infections (HAIs), the increasing volume of surgical procedures being conducted, stringent regulatory requirements focusing on infection prevention, and the expansion of both the medical device and pharmaceutical sectors.
In 2023, the heat/high-temperature sterilization segment held the largest share of the in sterilization equipment market, by technology segment.
Based on technology, the sterilization equipment market is broadly segmented into heat/high-temperature sterilization, low-temperature sterilization, ionizing radiation sterilization, and filtration sterilization. The growth of this segment is mainly due to its simplicity and the need for low capital investment. Also, the wide applications of heat sterilization in small clinics, rural hospitals, dental clinics, and the life science industry are driving the sterilization equipment.
The hospitals & clinics segment accounted for the largest share of the sterilization equipment market, by end user, in 2023
The sterilization equipment market for end users is categorized into hospitals & clinics, pharmaceutical companies, medical device companies, food & beverage companies, and other end users. The surge in chronic and infectious diseases has notably fueled expansion within the hospitals & clinics end user segment. However, the growing healthcare industry in emerging nations like China, India, and Brazil is anticipated to help in notable expansion of this segment’s growth. This growth can be attributed to factors such as increasing awareness, the flourishing medical tourism sector, improving affordability of healthcare services, and governmental backing for the advancement of healthcare infrastructure within these regions.
North America stands out as the leading regional market in the sterilization equipment market.
The global sterilization equipment market is divided into six key regions: North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and the GCC Countries. As of 2023, North America has dominated the global sterilization equipment market. The significant market share held by North America can primarily be attributed to the increasing prevalence of infectious diseases and the presence of major industry players within the sterilization equipment market.
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Sterilization Equipment Market Dynamics:
Drivers:
- Growing number of surgical procedures is prominently driving the growth of the sterilization equipment market
Opportunities:
- The increasing number of medical device and pharmaceutical companies in emerging economies is a significant opportunity for the sterilization equipment market
Challenge:
- A significant challenge facing the sterilization equipment market is the sterilization of advanced medical devices
Key Market Players of Sterilization Equipment Industry:
The major players operating in this market are STERIS (US), Getinge AB (Sweden), Sotera Health (US), Fortive (US), 3M (US), Cardinal Health (US), Metall Zug Group (Switzerland), Stryker Corporation (US), Merck KGaA (Germany), MMM Group (Germany), MATACHANA GROUP (Spain), Tuttnauer (Netherlands), Andersen Sterilizers (US), Steelco S.p.A. (Italy), Noxilizer (US), DE LAMA S.P.A. (Italy), Cosmed Group (US), C.B.M. S.r.l. Medical Equipment (Italy), E-BEAM Services, Inc. (US), Life Science Outsourcing, Inc. (US), Systec GmbH (Germany), Continental Equipment Company (US), Midwest Sterilization Corporation (US), BGS Beta-Gamma-Service GmbH & Co. KG (Germany), ACMAS Technologies Pvt. Ltd. (India), Celitron Medical Technologies Kft (Hungary), Microtrol Sterilisation Services Pvt. Ltd (India), Consolidated Sterilizer Systems (US), LTE Scientific Ltd. (UK), Prince Sterilization Services LLC (US), Centerpiece (US), Ionisos SA (France), Sterlab (France), and Medistri SA (Switzerland).
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 – 42%, Tier 2 – 30%, and Tier 3 – 28%
- By Designation: C-level – 46%, D-level – 23%, and Others – 31%
- By Region: North America – 23.0%, Europe – 45.0%, Asia Pacific – 28.3%, Latin America – 3%, Middle East & Africa – 0.8%, and the GCC Countries – 1.3%
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Recent Developments of Sterilization Equipment Industry:
- In June 2023, STERIS plc announced that it has successfully acquired the assets from BD (Becton, Dickinson and Company) related to surgical instrumentation, laparoscopic instrumentation, and sterilization containers.
- In December 2023, Getinge unveiled an innovative and modular load handling solution designed for seamless integration with the company’s GEV terminal sterilizers.
- In October 2023, the strategic acquisition of Healthmarks by Getinge not only consolidates Getinge’s presence in the infection prevention sector within the United States but also enhances its global customer outreach in Europe and Asia.
- In October 2023, ASP has unveiled a substantial enhancement to its Sterilization Monitoring portfolio, introducing innovative Steam Monitoring products.
- In May 2022, Sterigenics S.A.S., a subsidiary of Sotera Health Company, expanded its electron beam (“E-beam”) facility in Columbia City, Indiana.
Sterilization Equipment Market – Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall sterilization equipment market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, challenges, trends, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers: (increasing incidence of hospital-aquired infections, rising number of surgeries, and increasing geriatric population and the rising incidence of chronic diseases), challenges (end-user non-compliance with sterilization standards, and sterilization of advanced medical instruments), opportunities (growing number of medical device and pharmaceutical companies in emerging economies, rising use of E-beam sterilization, and rising adoption of single-use medical nonwovens and devices), and trends (increasing adoption of sterilization standards) influencing the growth of the in sterilization equipment market.
- Product Development/Innovation: Detailed insights on research & development activities, and new product launches and approvals in the in sterilization equipment market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the in sterilization equipment market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the sterilization equipment market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like STERIS (US), Getinge AB (Sweden), Sotera Health (US), Fortive (US), and 3M (US) among others in the sterilization equipment market strategies.
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