Sterilization Equipment and Disinfectant Market to Reach US$ 6,500 Mn Globally by 2026
Albany, NY -- (SBWire) -- 02/04/2019 --Global Sterilization Equipment and Disinfectant Market – Snapshot
Sterilization equipment and disinfectants are essential procedures for infection control in healthcare facilities such as hospitals, clinics, and laboratories. In terms of revenue, the global sterilization equipment and disinfectant market was valued at above US$ 4,400 Mn in 2017 and is anticipated to reach US$ 6,500 Mn in 2026, expanding at a CAGR of 4.5% from 2018 to 2026. Increase in hospital-acquired infections has compelled medical professionals to take stringent regulatory actions in order to cure these infections with the usage of various sterilization equipment and disinfectants. This factor is anticipated to propel the sterilization equipment and disinfectants market during the forecast period.
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Globalization leads to the outbreak of several diseases, and some of them are lead to surgery. According to the annual plastic surgery procedural statistics, there were almost 15.9 million surgical and minimally-invasive cosmetic procedures performed in the U.S, in 2015, a 2% increase over 2014. This increasing number of surgeries is creating a demand for more sterilization of equipment in order to prevent any microbial infection. A large number of global manufacturers are putting constant efforts to develop and manufacture novel equipment so that the customer can carry out the sterilization process more effectively and smoothly. Demand for low temperature sterilization for moist and heat-sensitive equipment is rising. Key players are focusing on the development of new sterilization equipment and disinfectants with better efficacy. For instance, Becton, Dickinson and Company launched the Genesis, a low temperature rigid sterilization container system, which provides long-lasting protection and sterility maintenance for surgical instrumentation. These key developments are likely to augment the global sterilization equipment and disinfectant market in the near future. However, high price of sterilization equipment and increasing demand for disposable devices are likely to restrain the global sterilization equipment and disinfectant market during the forecast period.
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Global Sterilization Equipment and Disinfectant Market: Key Segments
In terms of method, the global sterilization equipment and disinfectant market has been segmented into heat sterilization, filtration sterilization, low temperature sterilization, radiation sterilization. The heat sterilization segment can be further segmented into dry heat sterilization and moist heat sterilization. In terms of disinfectant, the global sterilization equipment and disinfectant market has been classified into oxidizing and non-oxidizing agents. The oxidizing agents segment has been further sub-segmented into ethylene oxide, formaldehyde vapor, and others. The non-oxidizing agents segment has been further split into quaternary ammonium compound, phenols, and others. The method type segments have been analyzed based on different type of sterilization process carry out to kill microorganism and sterilize the equipment. The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year.
Global Sterilization Equipment and Disinfectant Market: Regional Outlook
In terms of geography, the global sterilization equipment and disinfectant market has been segmented into five major regions and key countries/sub-regions in the respective region: North America (the U.S. and Canada), Europe (the U.K., Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2016 to 2026, along with their respective CAGRs for the period from 2018 to 2026, considering 2017 as the base year. The research study also provides the competitive scenario in these regions.
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