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The global sterilization market is expected to reach USD 6.93 Billion by 2021 from USD 4.69 Billion in 2016, at a CAGR of 8.8%.
The overall growth of the sterilization equipment market can be attributed to factors such as the rising incidence of hospital-acquired infections (HAIs), growing number of hospitals in Asia, rising geriatric population, increasing number of pharmaceutical companies in Asia, and growth in the food & beverage industry.
On the basis of product, sterilization equipment market is segmented into heat sterilization/high-temperature sterilization equipment, low-temperature sterilization equipment, ionizing radiation sterilization equipment, and filtration sterilization equipment.
The heat sterilization/high-temperature sterilization segment is expected to account for the largest share of the market in 2016. This growth is attributed to the rise in the number of mergers and acquisitions by key players in this market to expand their product portfolios.
On the basis of type, the sterilization consumables and accessories market is segmented into detergents, sterilization indicators, pouches, sterilization accessories, and lubricants. The sterilization indicators segment is expected to grow at the highest CAGR during the forecast period. The growth in this market segment can be attributed to the increasing number of surgeries performed worldwide, resulting in a growth in demand for sterilization products and hospital sterilization procedures to reduce the incidence of HAIs.
On the basis of site of sterilization, the sterilization services market is segmented into offsite sterilization and onsite sterilization. The offsite segment is expected to account for the largest share of the market in 2016.
Geographically, the sterilization equipment market was dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). In 2016, North America is expected to account for the largest share of the market, while Asia is projected to witness the highest growth rate during the forecast period. Growth in this region can be attributed to factors such as rising number of geriatric population, significant economic growth in China and India, rising incidence of nosocomial infections, and improving healthcare infrastructure in Asian countries.
Major players in the sterilization equipment market include are STERIS Corporation (U.S.), Getinge Group (Sweden), Advanced Sterilization Products (U.S.), 3M Company (U.S.), Belimed AG (Switzerland), Cantel Medical Corporation (U.S.), Anderson Products, Inc. (U.S.), Matachana Group (S.A.), MMM Group (Germany), and Sterigenics International, Inc. (U.S.).
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