Sterilization refers to a process that eliminates or kills all pathogens using various technologies and methods that are applied for sterilization of equipment and medical devices in the healthcare infrastructure. There is an increase in the demand for sterilization technologies across the globe. Patient safety and the prevention of hospital-acquired infections being a major concern lead to an increase in the demand for sterilization technologies in the healthcare sector. The sterilization technology market is driven by the increasing occurrences of hospital-acquired infections, increasing number of surgical procedures, growth in pharmaceutical and biotechnology industries, and rising technological advancements in sterilization equipment. However, the stringent regulatory framework could hamper the growth of the market during the forecast period.
The global sterilization technology market is expected to reach a market value of USD 8,142.61 million by 2023 from USD 5,074.58 million in 2017 at a CAGR of 8.20% during the forecast period from 2018 to 2023.
In 2017, the Americas held the largest share of the market at 40.1%, followed by Europe and Asia-Pacific with shares of 34.4 % and 17.48 %, respectively.
The global sterilization technology market has been segmented based on process, type, end user, and region.
By type, the global sterilization technology market has been classified into ethylene oxide, ionizing radiation, filtration, thermal sterilization, and others.
Based on process, the global sterilization technology market has been categorized as chemical process, physicochemical, synergetic process, and physical process.
By end user, the global sterilization technology market has been segmented into hospitals and clinics, the pharmaceutical industry, and medical device manufacturers.
The key players in the global sterilization technology market are Advanced Sterilization Products Services Inc., Atec Pharmatechnik GmbH, Sterile Technologies Inc., Steris Plc, 3M Company, Feldmeier Equipment Co., Donaldson Co. Inc., and Beta Star Life Science Equipment Inc.
Objectives of the Study
• To provide a detailed analysis of the market structure along with a forecast of various segments and sub-segments of the global sterilization technology market
• To provide insights into factors influencing and affecting market growth
• To provide historical and forecast revenue of market segments and sub-segments with respect to countries
• To provide strategic profiling of key players in the market and comprehensively analyzing their market shares and core competencies, and drawing a competitive landscape for the market
• To provide economic factors that influence the global sterilization technology market
• To provide a detailed analysis of the value chain and supply chain of the global sterilization technology market
• Sterilization Technology Manufacturers
• Suppliers and Distributors
• Pharmaceutical Companies
• Research and Development (R&D) Companies
• Market Research and Consulting Service Providers
• Potential Investors
• Raw Material Suppliers
• The global sterilization technology market is expected to reach USD 8,142.61 million by 2023 at a CAGR of 8.20% from 2018 to 2023.
• On the basis of type, the ethylene oxide segment accounted for the largest market share at a CAGR of 7.76 % in 2017.
• The market in the Americas is expected to register a CAGR of 8.31% from 2018 to 2023.
• Asia-Pacific is expected to be the fastest-growing market registering a CAGR of 8.58% from 2018 to 2023.
o North America
o Latin America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
• Middle East & Africa
o Middle East