Sterilization Technologies Market Size is Estimated to grow at a CAGR of 8.20% by 2027
Sterilization Technologies Market Size Overview
Market Research Future (MRFR) confirms that the global Sterilization
Technologies Market Size is slated to surge at 8.20% CAGR during the
forecast period (2018–2023). Sterilization technologies comprises
processes such as gamma radiation, ionizing radiation, thermal sterilization,
and many others. The boost in Sterilization Technologies Market Size can be
credited to the increasing prevalence of healthcare-associated infections
(HAIs), high demand for less invasive surgical procedures, expanding demand for
sterilized pharmaceutical products, and burgeoning aging population. Moreover,
escalating demand for minimally invasive procedures and growing number of
surgeries have been observed globally, which bolster the market growth.
Accompanying the drivers is a restraining factor such as the high cost of
sterilization equipment that can curtail the market growth. However, increasing
number of healthcare facilities and hospitals across the globe will multiply
the demand for sterilization technology, in turn, fortifying the market growth.
The latest trend penetrating the market is the ebeam sterilization process
used for sterilizing medical devices. This technology emerged as one of the
most efficient technologies for low-density medical devices.
Request Free Sample Copy at:
https://www.marketresearchfuture.com/sample_request/1312
Sterilization Technologies Market Size Segmentation
In accordance with the report, the market is segmented on the basis of type,
process, and end user.
By type, the market is segmented into ethylene oxide, ionizing radiation,
filtration, thermal sterilization, and others. Ethylene oxide accounts for the
maximum market share owing to its high penetration, its exposure time and the
strength of the radiation dose. Due to its advantages and growing application
areas, the market for ethylene oxide is estimated to amass USD 3824.55 million
by 2023.
On the basis of process, the market is segmented into chemical process,
physicochemical, synergetic process, and physical process. The chemical process
of sterilization is estimated to reach USD 5,677.43 million by 2023. The
chemical process of sterilization is highly reliable, cost-effective, and
requires very low heat temperature, therefore on account of the pros, it is
highly favorable for sterilization.
Key end-users of the Sterilization Technologies Market Size are hospitals
and clinics, the pharmaceutical industry, and medical device manufacturers. The
growing number of pharmaceutical companies and increasing production of
pharmaceutical products can fuel the growth of the pharmaceutical industry.
Sterilization Technologies Market Size Regional Analysis
Region-wise, the market covers Americas, Asia Pacific, Middle East & Africa,
and Europe.
The largest revenue contributors in the North American region are the United
States and Canada. North America held the largest market share of 40.1% in 2017
of the total market and will continue to dominate throughout the forecast period.
A large patient pool and rising admissions in hospitals due to patients
suffering from chronic illness can influence the market positively in the
region. A strong economy, improving healthcare expenditures, growing awareness
regarding infections and diseases, and growing geriatric population in the
region give the Sterilization Technologies Market Size the required push. Apart
from these factors, technological advancements in healthcare have contributed
to the market growth imminently.
The Europe region is bifurcated into Western Europe and Eastern Europe,
where the Sterilization Technologies Market Size is thriving. Western Europe
comprises of countries like Germany, France, the U.K., Italy, Spain, and the
rest of Western Europe, which generates high revenues. Following America,
Europe is the second largest market for sterilization technology due to
existing ambitious players continuously indulging in mergers and research and
development activities along with increasing healthcare cost. Moreover,
increasing number of HAIs in the region also propagates the growing awareness
among patients, leading to market growth.
Asia Pacific is the third largest market in sterilization technology and
showcases strong potential in the healthcare sector. The key revenue generators
in the Asia Pacific are Japan, China, India, Australia, the Republic of Korea,
and the Rest of Asia Pacific. The market is expanding due to the presence of a
huge patient population, and advancement in technology. Apart from these
factors, the growing geriatric population, escalating healthcare expenditure,
high pollution levels, and flourishing medical tourism can positively impact
the market.
Global Market for Sterilization Technologies Market Size –
Competitive Dashboard
Some of the other players include Feldmeier Equipment Co, Donaldson Co.
Inc., Atec Pharmatechnik GmbH, Sterile Technologies Inc., and Beta Star Life
Science Equipment among others.
Browse Detailed TOC with COVID-19 Impact Analysis at:
https://www.marketresearchfuture.com/reports/sterilization-technologies-market-1312
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), & Consulting Services. MRFR team have
supreme objective to provide the optimum quality market research and
intelligence services to our clients.
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
Email: sales@marketresearchfuture.com
Comments
Post a Comment