Published: Jul, 2018
The global market for sterilization equipment and disinfectants is highly competitive in nature with a large number of players operating in it around the world, states a new market intelligence report by Transparency Market Research. Some of the key players operating in the global market are Nordion, Inc., Advanced Sterilization Products Services, Inc., Getinge Group, Synergy Health plc, SAKURA SI CO., LTD., CISA Group, Cantel Medical, Matachana Group, and TSO3, Inc. The increasing number of applications in diverse industries is anticipated to enhance the level of competition throughout the forecast period. In addition to this, the rising number of mergers and acquisitions and strategic agreements are expected to offer potential growth opportunities for the market players in the next few years. Furthermore, the growing focus on the research and development activities and innovations are estimated to enhance the growth of the overall market in the next few years.
According to the market research study by Transparency Market Research, in 2012, the global market for sterilization equipment and disinfectants was worth US$5.13 bn and is estimated to reach a value of US$9.15 bn by the end of 2019. The global market is further predicted to register an 8.50% CAGR between 2013 and 2019.
North America Market to Witness High Growth in Coming Years
From a regional perspective, North America is projected to account for a large share of the global sterilization equipment and disinfectant market in the next few years. The presence of a large number of players and the rising number of manufacturers are the key factors that are estimated to encourage the growth of the North America market throughout the forecast period. In addition to this, the rising number of surgeries and the increasing prevalence of several chronic diseases are further estimated to accelerate the growth of the North America market in the near future. On the other hand, Asia Pacific is predicted to emerge as one of the promising segment throughout the forecast period. The high growth of this region can be attributed to the increasing awareness among people regarding the hospital acquired illness and the continuous rise in the number of surgeries being performed in this region.
The global market for sterilization equipment and disinfectants has been segmented on the basis of sterilization equipment into heat sterilization, low temperature sterilization, radiation sterilization, and filtration sterilizing. Among these, the heat sterilization segment is anticipated to account for a large share of the overall market in the next few years. As per the research study, this segment is likely to register a healthy 8.60% CAGR between 2013 and 2019. The strong growth of this segment can be attributed to the fact that the equipment used for the sterilization is comparatively safer than the low-temperature sterilization and several other devices. On the other hand, the low-temperature sterilization segment is predicted to register a fast growth rate in the next few years.
Rising Geriatric Population to Support Market Growth
The increasing use of sterilization equipment and disinfectants in the healthcare sector in order to kill and eliminate the harmful agents such as fungi, viruses, and bacteria is one of the major factors, which is projected to encourage the growth of the global market in the next few years. The rising use of sterilization equipment and disinfectants as infection controlling agents is another key factor estimated to accelerate the growth of the overall market in the near future. In addition to this, the rising geriatric population and the significant rise in the number of surgeries that are being conducted in hospitals and clinics are some of the other key factors that are projected to support the growth of the overall sterilization equipment and disinfectants market throughout the forecast period. Furthermore, the rising willingness among people to spend on the advanced healthcare services is predicted to enhance the growth of the market in the near future.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Sterilization Equipment and Disinfectants Market (By Sterilization Equipment Type - Heat Sterilization, Low Temperature Sterilization, Filtration Sterilization and Radiation Sterilization, By Disinfectants Type-Low, Intermediate and High level and Oxidizing and Non-Oxidizing and By Applications- Medical Devices, Pharmaceuticals and Life-Sciences) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019.”
- Rising geriatric population and the increasing number of surgeries to enhance market growth in the next few years.
- The growing focus on research and development activities and innovations are predicted to encourage the growth of the global sterilization equipment and disinfectants market in the near future.
The global sterilization equipment and disinfectants market has been segmented as below:
Global Sterilization Equipment and Disinfectants Market, by Sterilization Equipment Type
- Heat Sterilization
- Low Temperature Sterilization
- Filtration Sterilization
- Radiation Sterilization
Global Sterilization Equipment and Disinfectants Market, by Disinfectant Type
- Low, Intermediate and High level
- Oxidizing and Non-Oxidizing
Global Sterilization Equipment and Disinfectants Market, by Application
- Medical Devices
Global Sterilization Equipment and Disinfectants Market, by Geography
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- The UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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