Sterilization Equipment Market – Analysis And Forecast (2017-2025): Market Shares And Strategies Of Key Players
Government support drives growth of the sterilization equipment market
North America market holds a dominant position in the market, owing to increasing number of surgical procedures in hospitals in the U.S. and Canada. Whereas, Asia Pacific countries such as Japan and China show significant growth of the sterilization equipment market due to evolving medical facility and government regulations for utilization of sterilized equipment to avoid hospital-acquired infections. Moreover, increasing investment in medical services in the Middle East and Africa is expected to boost growth of the sterilization equipment market in the regions. However, high cost of sterilization equipment in emerging economies acts as barrier for revenue growth of sterilization equipment market.
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Major acquisitions to support growth of sterilization equipment market
Cantel Medical Corp 2016, revenue increased 17.7% to a record of US$ 664.8 million from US$ 488,749 in 2014. Key players operating in sterilization equipment market include Cantel Medical Corp. (USA), 3M Company (USA), Belimed AG (Switzerland), Andersen Products, Inc. (USA), Advanced Sterilization Products (USA), Matachana Group, Sterile Technologies, Inc. (US), Getinge AB (Sweden), and Sterigenics International, Inc. (USA).
Sterilization is a process that kills, eliminates, deactivates or removes all form of life and other biological agent from a specific surface, fluid, medication or biological culture. Sterilization can be achieved through various means such as chemicals, heat, irradiation, filtration, and high pressure. Sterilization equipment are mainly used in laboratories, particularly microbiology and medical. Autoclave is a most important sterilization equipment, as it can be used to sterilize laboratory equipment such as glassware and micro centrifuge tubes, and medical equipment. Chemicals, fluids, water or food used for experiments are also sterilized in autoclave. Other sterilizing equipment include dry heat sterilizing equipment such as hot air ovens, which are used to sterilize metal instruments, needles, and petroleum products. Glass beads sterilizers are employed for sterilizing instruments that are re-used, however, these are not FDA-approved.
Sterilization market has gained traction in the recent past due to increasing awareness about infection and diseases caused due to non-sterile environment. Increasing investment in research and healthcare infrastructure focused on public health sterilization equipment is increasing significantly. Utilization of unsterilized equipment leads to serious infection threating public health such as the spread of HIV and lethal hepatitis. Government also aids growth of the market, as the Food and drug administration (FDA) approves marketing of products only when produced in sterile and hygienic conditions. Department of health and human services have formed the guidelines for disinfection and sterilization in healthcare facilities in 2008, which was re-updated in 2014 and February 2017, on the basis of various new infection such as Ebola virus disease. Medical waste requires to be decontaminated before being disposed, so as to prevent threat of disease spreading. This is increasing the demand for serializable equipment, thus boosting growth of the serialization equipment market.
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Increasing health and hygiene awareness fuels market growth
Growing population coupled with increasing incidence of communicable diseases such as viral and bacterial infections is increasing the demand for sterilization equipment. Furthermore, growing awareness regarding sterilization and cleanliness among the people is expected increase growth of the sterilizing equipment market in the near future. Development of global medical equipment facility, has in turn, positively impacted growth of the sterilization equipment market. Moreover, apart from the healthcare department, the food and beverages industry is also one of the prime consumers of sterilization equipment. Extensive use of sterilized containers for packaging and storing food supplies, the demand for sterilization equipment is expected to increase in the food sector. TSO3 Inc., an innovator in sterilization technology for medical devices in healthcare settings, reported sales of US$ 432,987 in 2014, as compared to US$ 254,370 in 2013.
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