Sterilization Equipment Market Size, Share & Forecasts, 2015 - 2025: Million Insights

The global sterilization equipment market size was worth USD 4.3 billion in 2016 which is anticipated to grow at a CAGR of more than 9.5% during the forecast period. Various factors, which led to such huge market growth, include increase in the aging population, rise in the number of surgeries conducted, and surging incidences of chronic diseases. Also, there are number of changes in the government policies and regulations which in a way is helping the sterilization equipment market to grow and advance. Such changes in the policies have resulted in increase in the adoption of sterilization equipment by various hospitals and diagnostic centers.

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Similarly, increase in the number of government initiatives, which are stringent enough to ensure utmost quality of the product, is making way for the sterilization equipment market to grow. Advancement in technologies of sterilization equipment such as gamma ray filtration, radiation, microfiltration and many more have created wide scope for sterilization equipment in the food industry.

Government bodies of developing countries such as Japan, Mexico, and Brazil, are making huge investments to spread awareness about the application of sterilization equipment, and thereby focusing on quality and safety. Such equipment are mainly used for sterilization and disinfection before surgeries. In regions such as Latin America, Middle East and Asia Pacific, the market is witnessing increase in foreign investments, which is leading to revenue generation for the market.

Technique Insights

The heat sterilization technique captured the largest market share in 2016 in which hydrated state is preferred more than dry state due to its greater reliability in use. It is estimated that the low temperature market segment is expected to grow at the highest CAGR due to compatibility with thermo-labile products, lesser complex in handling and monitoring. The introduction of various advancements in technology of the equipment for sterilization technique has led to better business expansion and penetration to various regions around the globe. 

End User Insights

The hospital segment captured the largest market share in the year 2016, due to growing infection burden, rising number of surgeries performed, advancing technologies and rise in the number of patients being admitted. The ever-increasing need for quality assurance and quality control by pharmaceutical company in its manufacturing and storage processes resulted it to be the second largest segment in the global market.