Sterilization Equipment Market by 2026 - Global Trends, Share Analysis, Leading Players, Business Opportunities
- In October 2020, Getinge launched the Getinge Solsus 66 steam sterilizer for hospitals and surgical instruments with increased capacity and operational reliability compared to other sterilizers.
Northbrook, IL 60062 -- (SBWire) -- 10/07/2022 --The sterilization equipment market is projected to reach USD 20.0 billion by 2026 from USD 13.8 billion in 2021, at a CAGR of 7.7%.
Rising incidence of hospital-acquired infections;
Hospital-acquired infections (HAIs) are a major cause of morbidity and mortality worldwide. These include central line-associated bloodstream infections, catheter-associated urinary tract infections, and ventilator-associated pneumonia. The most common bacteria associated with HAIs include C. difficile, methicillin-resistant Staphylococcus aureus (MRSA), Klebsiella, E. coli, Enterococcus, and Pseudomonas species. The growing prevalence of HAIs globally is the primary growth driver for the sterilization equipment market.
According to the Centers for Disease Control and Prevention (CDC), up to 1.7 million hospitalized patients in the US annually acquire healthcare-associated infections (HCAIs) while being treated for other health issues, and more than 98,000 of these patients (one in 17) die due to HCAIs. In addition, 32% of all HAIs in the country are urinary tract infections, 22% are surgical-site infections, 15% are lung (pneumonia) infections, and 14% are bloodstream infections. According to the US Census Bureau, the number of individuals aged 65 and above was estimated at 52.3 million in 2019; this figure is expected to increase to 83.7 million by 2050. The rising geriatric population and the increasing incidence of chronic diseases will result in increased hospitalization rates, which, in turn, will increase the occurrence of HAIs. This is expected to boost the demand for sterilization products and services for the sterilization of medical instruments and other devices.
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Sterilization Instruments accounted for the largest share of global sterilization equipment market in 2020.
Based on product & service, the sterilization equipment market is segmented into sterilization instruments, sterilization services, and sterilization consumables & accessories. Sterilization instruments form the largest and fastest-growing product segment in this market. The growth of this segment is primarily driven by the rising incidence of HAIs, increasing number of surgeries performed, stringent regulatory mandates for infection control, and the growth in the medical device and pharmaceutical industries.
By End User, hospitals & clinics accounted for the largest market share in 2020
Based on end user, the sterilization equipment market has been segmented into hospitals & clinics, medical device companies, food & beverage companies, pharmaceutical companies, and other end users. The hospitals & clinics segment accounted for the largest share of the sterilization equipment market in 2020. The large share of this segment can be attributed to the increasing incidence of HAIs, the growing number of hospitals in Asian countries, the growing volume of surgical procedures performed, and the increasing government initiatives to curb HAIs.
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North America accounted for the largest share of the sterilization equipment market in 2020
The global sterilization equipment market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America was the largest regional market for sterilization equipment. The growing demand for sterilization technologies from the healthcare industry to minimize the occurrence of HAIs, the increasing number of surgical procedures performed, and the presence of key players in the region are the major factors supporting the growth of the sterilization equipment market in North America.
Some of the major players operating in this market are Steris plc (US), Getinge AB (Sweden), and 3M (US). In 2020, Steris held the leading position in the sterilization equipment market. The company offer sterilization products & services which are widely used by people across globe across various industries. Getinge held the second position in the sterilization equipment market in 2020.
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