Sterilization is a process used for the destruction of all living microorganisms, especially pathogenic or saprophytic bacteria, vegetative forms, and spores.
The global sterilization market is expected to reach USD 6,142.7 million by 2020 from USD 4,258.4 million in 2015, at a CAGR of 7.6%. The major factors driving the growth of this market are rising incidences of hospital-acquired infections, increasing number of surgical procedures, increasing number of hospitals and hospital sterilization procedures in Asia, rising aging population, growing number of pharma companies in Asia, and growth of the food & beverage industry worldwide.
On the other hand, regulatory compliance issues and saturated developed markets are factors restraining the growth of this market during the forecast period. The global sterilization market is expected to grow at a lucrative CAGR of 7% to 8% over the next five years. Maximum growth will be observed in the consumables segments.
On the basis of type, the sterilization equipment market is segmented into heat sterilization/high temperature sterilization, low-temperature sterilization, ionizing radiation sterilization, and filtration sterilization. The heat sterilization/high-temperature sterilization segment is expected to account for the largest share in the global sterilization equipment market in 2015. The sterilization equipment market includes equipment, consumables and accessories, and contract sterilization. In 2015, the consumables and accessories segment is expected to account for the second largest share in the sterilization equipment market. The sterilization equipment market, by end user, is segmented into pharmaceutical companies, hospitals, medical device companies, food & beverage companies, and others. The pharmaceutical companies segment is expected to account for the largest share in the sterilization market in 2015.
The sterilization equipment market, by region, is classified into North America, Europe, Asia, and RoW. In 2015, the North American segment is expected to command the largest share of the sterilization equipment market. The Asian region is projected to grow at the highest CAGR during the forecast period. Over the next five years, growth in the Asian sterilization equipment market is expected to be centered on China and India. Growth in the Asian region will mainly be driven by factors such as the rising incidences of nosocomial infections, improved healthcare infrastructure, and growing geriatric population in the Asian countries.
Many of the prominent players in the sterilization equipment market are focusing on increasing their sterilization equipment, consumables, accessories, and contract sterilization services in different geographic regions. These players are also focusing on the strategy of acquisitions to strengthen their services and enhance their market positions. The major players in the sterilization market are Steris Corporation (U.S.), Getinge Group (Sweden), Advanced Sterilization Products (U.S.), 3M Company (U.S.), Belimed AG (Switzerland), Cantel Medical Corp. (U.S.), Synergy Health (U.K.), Matachana Group (S.A.), MMM Group (Germany), and Sterigenics International, Inc. (U.S.).
