Sterilization Technology Market
The sterilization
technology market is expected to reach a CAGR
of 7.05% and the market will grow up to 12,701.52 USD million.
MRFR also evaluates the market value to be USD 8,142.61 million by 2023.
We will provide COVID-19 impact analysis with the report, along with all the
extensive key developments in the market post the coronavirus disease outbreak.
COVID-19 Impact on Sterilization Technology Market
The COVID-19 outbreak has bolstered the need for respiratory devices
such as ventilators, masks, scrub suits, sanitizers, and more. The escalation
in the use of these medical devices in the healthcare industry has led to a
higher demand for effective sterilization technologies. Ethylene oxide or EtO
is the most commonly used sterilization technique that is playing a critical
role in the fight against the novel coronavirus. The EtO method is ideal for
medical devices that cannot bear extreme temperatures, such as gowns, syringes,
catheters, gloves, products that have plastic tubing, masks and respiratory
devices, and is therefore, observing significant adoption in this pandemic era.
Given the extremely high incubation period, very little information with
regard to the specific mode of transformation is known. The undeterminable
survivability rate of the novel coronavirus on different surfaces has boosted
the importance of sterilization and decontamination of equipment, surfaces, and
environment to control the spread of the SARS-CoV-2 infection. Therefore,
despite the lockdown and workforce shortage, the sterilization technology is
expected to observe considerable demand in 2020 and many more years to come.
Another growth rendering factor can be the mounting support of the government
across countries, who are relaxing the existing restrictions for offering fast
solutions to people, businesses and several industries.
Sterilization
Technology Market: Information by Type of Sterilization (Ethylene Oxide,
Ionizing Radiation, Filtration and Thermal Sterilization), by (Chemical
Process, Physicochemical, Synergetic Processes and Physical Processes), End
User (Pharmaceutical Industry, Hospitals & Clinics and Medical Device
Manufacturers) - Forecast till 2030.
Major Key Players:
The Sterilization Technology
Market Players are Steris PLC, Sterile Technologies Inc.,
Beta Star Life Science Equipment Inc., 3M Company, Advanced Sterilization
Products Services Inc., Atec Pharmatechnik GmbH, Donaldson Co. Inc., Feldmeier
Equipment Co., and more.
Segment Analysis
The market segmentation for sterilization
technology comprises sterilization, process, and end-user.
The types of sterilization technologies are
ionizing radiation (electron beam radiation, X-ray radiation and gamma
radiation), ethylene oxide, thermal sterilization, filtration, and more.
Ethylene oxide technology accounts for the biggest share of 48.1% in the
overall market, given its significant penetration, radiation dose’s high
strength and exposure time. However, it is likely that the ionizing radiation
technology would soon catch up to the ETO segment, as the latter is known to
cause neurological conditions and cancer, among other health issues.
The processes involved in sterilization technology
include physicochemical (plasma and steam), chemical process (hydrogen
peroxide, ozone, and chlorine dioxide), physical processes (microwaves and
pulsed light system) and synergetic processes (psoralens & UVA and
low-temperature steam & formaldehyde).
The top market end users listed in the report are
hospitals & clinics, medical device manufacturers and pharmaceutical
industry. Pharmaceutical industry is presently in the lead and had accrued the
highest share of 38.4% and value of USD 1948.10 million in 2017. The segment is
also touted to hit a valuation of USD 3163.60 million by 2023, since the
industry requires efficient sterilization processes and need to ensure the
safety of the products and the process units for the maintenance of their
quality. The need to adhere to the stringent norms and standards also bolsters
the adoption of the sterilization technology in the pharmaceutical industry.
Regional Analysis
The primary regions across which the sterilization technology market is
expected to grow over the forecast period include Europe, the Americas, MEA or
Middle East & Africa and Asia Pacific or APAC.
In 2017, with the biggest share of close to 40.1%, the American market
took the lead and shall remain so throughout the conjectured period. The
sterilization technology market in the region is quite lucrative, thanks to the
burgeoning pool of patients afflicted with chronic disorders and the resultant
growth in hospital admissions as well as surgical procedures. Escalating cases
of HAIs, regulations mandating the use of extensively sterilized medical
devices and the rising intensity of competition between reputed players in the
United States could also translate into significant revenues.
With the fastest growth rate of 8.58%, APAC is strongly backed by the
fast developing economies of India and China along with the mounting prevalence
of nosocomial infections. The thriving pharmaceutical and medical device industries
in the region and the improving healthcare infrastructure have also caused
market expansion. The emerging medical tourism trend in the region,
particularly for oncology, cardiovascular, fertility treatments and orthopedics
is set to bolster the focus of the healthcare system on effective
sterilization.
About Market Research
Future
At Market Research Future (MRFR), we enable our
customers to unravel the complexity of various industries through our Cooked
Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research
Reports (3R), Continuous-Feed Research (CFR), and Market Research &
Consulting Services.
MRFR team have supreme objective to provide the
optimum quality market research and intelligence services to our clients. Our
market research studies by products, services, technologies, applications, end
users, and market players for global, regional, and country level market
segments, enable our clients to see more, know more, and do more, which help to
answer all their most important questions.
In order to stay updated with technology and work
process of the industry, MRFR often plans & conducts meet with the industry
experts and industrial visits for its research analyst members.
Contact us:
Market Research Future
(part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 646 845 9312
