Sterilization Equipment Market Overview
The global sterilization equipment market size was valued at USD 7.2 billion in 2021 and is expected to reach USD 15.6 billion by 2030, registering a CAGR of 10.5% during forecast period.
Hospital-acquired Infections (HAIs), also known as nosocomial infections, are primarily found in patients receiving long-term treatment, mainly surgical treatment. They can occur in surgical centers, clinics, hospitals, ambulatory surgical centers, and long-term care facilities, such as nursing homes & rehabilitation centers. Generally, the geriatric population, children, and patients with low immunity are prone to HAIs.
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Factors such as the use of catheters, lack of proper hygiene in healthcare settings, and excessive use of antibiotics can increase predisposition to HAIs. Furthermore, an increase in the number of surgical procedures in clinics is a major factor contributing to market growth. Maintaining proper hygiene and sanitation is necessary to maintain a healthy environment in the clinic. In addition, the spread of COVID-19 requires the adoption of preventive measures for containing the spread of the disease. These factors are expected to drive the adoption of sterilization equipment in clinics.
Increasing prevalence of HAIs due to lack of sanitation and preventive measures is a key factor anticipated to propel market growth over the forecast period. According to a CDC report in 2018, around 1.7 million cases of HAIs and around 99,000 associated deaths are reported each year in American hospitals. As per a report published by European Centre for Disease Prevention and Control (ECDC), in 2018, prevalence of HAIs in European countries was around 7.1%. It also reported that over 4,131,000 patients suffer from HAIs in Europe each year. Such cases are boosting the demand for sterilization equipment.
Sterilization equipment are required for sterilization and cleaning of different equipment used in the hospitals as they help in reducing the spread of infections and diseases. An increase in the incidence of chronic diseases, such as diabetes, cancer, and other autoimmune diseases, is anticipated to boost the demand for sterilization equipment. Antimicrobial resistance, increased adoption of unhealthy & sedentary lifestyle, smoking, and alcohol consumption, are some of the major factors contributing to the growing prevalence of chronic diseases.
According to the National Diabetes Statistic Report 2017, by CDC, more than 100.0 million people in the U.S. were living with diabetes or prediabetes. In addition, the WHO reported that in 2015, approximately 1.6 million global deaths were directly caused due to diabetes. Cancer has been a global healthcare burden. According to estimates by WHO, cancer is the leading cause of death globally and almost 1 in 6 deaths can be attributed to this disease. In addition, it reported that over 70% of cancer-related deaths typically occur in middle- and low-income countries.
The rising prevalence of chronic conditions has significantly increased hospital admission rate. Blankets, sterile fluids, and equipment are some of the essential requirements in hospitals & clinics. Thus, in such cases, sterilization equipment efficiently serve the purpose, as they reduce the risk of infection transmission among patients and improve care delivery. Thus, the increasing prevalence of chronic diseases is expected to positively impact the market during the forecast period.
Sterilization Equipment Market Segmentation
Based on the Product Insights, the market is segmented into heat sterilizers, low-temperature sterilizers, sterile membrane filters and radiation sterilization devices
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa
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Market Share Insights
Key Companies Profile
Companies are engaging in partnerships, mergers, and acquisitions, aiming to strengthen their product portfolio, and manufacturing capacities, and provide competitive differentiation.
Some of the prominent vendors in the global sterilization equipment market include
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