The sterilization equipment market is expected to reach USD 11.14 billion by 2023 from USD 7.94 billion in 2018, at a CAGR of 7.0% during the forecast period. The major factors driving the growth of this market are the rising incidence of hospital-acquired infections, increasing number of surgical procedures, rising focus on food sterilization and disinfection, technological advancements in sterilization equipment, and increasing number of hospitals in Asia. On the other hand, the presence of stringent regulations may restrain the growth of this market during the forecast period.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=642
On the basis of product and service, the sterilization equipment market is categorized into sterilization instruments, sterilization consumables & accessories, and sterilization services. The sterilization consumables and accessories segment is expected to grow at the highest growth rate during the forecast period. The regular and bulk purchases of consumables coupled with product launches are the major factors driving this segment.
Based on type, the sterilization instruments market is segmented into heat/high-temperature sterilization, low-temperature sterilization, filtration sterilization, and ionizing radiation sterilization. In 2017, the heat/high-temperature sterilization instruments segment accounted for the largest share of the sterilization instruments market.
On the basis of end user, the sterilization equipment market has been segmented into hospitals and clinics, medical device companies, food and beverage industry, pharmaceutical companies, and other end users. The hospitals and clinics segment accounted for the largest share of the sterilization equipment market in 2017. The large share of this segment can be attributed to increasing incidence of healthcare-associated infections (HAIs), growing number of hospitals in Asian countries, and increasing number of surgical procedures.
On the basis of region, the sterilization equipment market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2017, North America accounted for the largest share of the sterilization equipment market. The increasing demand for sterilization technologies from the healthcare industry to minimize the occurrence of HAIs and the increasing number of surgeries in this region are the major factors supporting the growth of the sterilization equipment market in North America.
