GLOBAL STERILIZATION EQUIPMENT MARKET FORECAST 2019-2028

GLOBAL STERILIZATION EQUIPMENT MARKET FORECAST 2019-2028

  • August 2020 •
  • 204 pages •
  • Report ID: 5950049 •
  • Format: PDF
KEY FINDINGS
The global sterilization equipment market is estimated to grow with a CAGR of 6.95%, across the forecast period of 2019 to 2028. Primary factors influencing the market growth include, preventative measures by hospitals against nosocomial infections, rising number of surgical procedures, growing demands of the food and beverage industry, and the developments within pharmaceutical industries.

MARKET INSIGHTS
Sterilization entails eliminating all life forms such as viruses, bacteria, fungi, and spores present in the environment, which may cause diseases or infections.Similarly, sterilization equipment is used by the medical and food industry, laboratories, spacecraft, pharmaceutical factories, and other sectors with a high risk of infections, for disinfection.

Moreover, various research organizations that deal with research against viruses and bacteria require sterilization equipment to neutralize their settings.
Surgical procedures are at a considerable rise, owing to the growing number of injuries and chronic diseases.According to the 2017 World Health Organization (WHO) data, cardiovascular diseases (CVD) are the leading causes of global deaths, with over 17 million fatalities, every year.

These conditions comprise a group of heart and blood vessel disorders, including cerebrovascular diseases, coronary heart disease, and rheumatic heart diseases.Moreover, four out of five deaths are caused by strokes and heart attacks, with one-third of deaths occurring in people under the age of 70.

This leads to an increase in surgeries related to cardiovascular diseases.Conversely, the COVID-19 pandemic has caused an unexpected increase in individuals admitted into hospitals.

As a result, medical facilities have created different wards to isolate patients infected with the coronavirus and minimize the risk of transmission. Owing to these factors, the demand for sterilization equipment is predicted to increase across the forecast period.

REGIONAL INSIGHTS
The geographical analysis of the global sterilization equipment market growth includes the evaluation of Asia Pacific, North America, Europe, and the rest of the world.With the United States as the leading manufacturer and consumer of sterilization systems, and Canada possessing a massive potential for sterilization technologies, North America is estimated to be the fastest-growing market.

Moreover, the rise in geriatric population and increasing healthcare expenditure is also attributed to the market growth.

COMPETITIVE INSIGHTS
The degree of competitive rivalry in the global market is estimated to remain high across the forecast period, due to the presence of numerous local industries. Some of the renowned companies in the market include, Advanced Sterilization, MMM Group, 3M Company, Cardinal Health, Steris Corporation, Belimed AG, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

Companies mentioned
1. 3M COMPANY
2. ADVANCED STERILIZATION (ACQUIRED BY FORTIVE)
3. ANDERSEN PRODUCTS INC
4. BELIMED AG
5. CANTEL MEDICAL
6. CARDINAL HEALTH
7. GETINGE AB
8. MATACHANA
9. MMM GROUP
10. SOTERA HEALTH
11. STERIS CORPORATION
12. STRYKER CORPORATION (TSO3 INC)
13. SYSTEC GMBH