Sterilization Equipment Market - Global Industry Analysis

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Sterilization is the method of killing all microorganisms like bacteria, fungus, and virus with the use of either physical or chemical agents. These methods involve reacting microorganisms or microbial pores by using moist heat, dry heat, and chemicals or by passing medium through filters. Hot air oven and autoclaves are the most commonly used equipment for sterilizations. 

Globally, sterilization equipment market has been accelerated due to rising number of hospitals across the globe. Moreover increasing number of the geriatric population across the world coupled with the wide application of the equipment in the medical and pharmaceutical industries are considered as major factors which help in driving the sterilization equipment market. However, stringent rules and regulations for pharmaceutical companies is the key factor that hinders the growth of sterilization equipment market. Nonetheless, ongoing research and development in the field of technology may bring huge growth opportunities for the growth of the market within the forecast period.

Based on instrument type, the global sterilization equipment market is segmented into four types: heat sterilization equipment, chemical sterilization, filtration sterilization and ionizing radiation sterilization. The heat sterilization equipment is the most preferred sterilization instruments in the medical sector and thus this segment accounted for the largest market share in terms of revenue in the year 2017. Other factors attributing to this growth are increasing numbers of laboratories and healthcare centers across the world.

Based on end-users, the global sterilization equipment market is segmented into five types: pharmaceutical companies, hospitals & clinics, educational institutes, food & beverage industry and others. The pharmaceutical companies accounted for the largest market share in terms of revenue in 2017. Pharmaceutical companies and hospitals are the major users of sterilization equipment. Patient safety and stringent government regulation are the major factors driving the growth sterilization equipment market.

Based on region, the global sterilization equipment market is fragmented into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In terms of revenue, North America is expected to account for the largest market share of the global sterilization equipment market during the forecast period. Personal healthcare awareness is the major factor which helps in driving the market. Europe accounted for the second largest market share in the year 2017 whereas Asia Pacific is expected to grow with the fastest CAGR in the forecast period. Developing economies such as China and India are the major revenue holders leading to the growth of this region in sterilization equipment market.

The report covers competitive outlook in detail which includes various reimbursement policies, market shares by segments as well as the company profiles of the key participants operating in the global sterilization equipment market. Some of the key participants in the global sterilization equipment market include Steris, Getinge Group, 3M, Sortera Health, and Advanced Sterilization Products.