According to the report “Sterilization Equipment and Disinfectants Market—Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019,” published by Transparency Market Research, the global sterilization equipment and disinfectants market is forecasted to reach a market value of $9.15 billion by the end of next year.
Rising geriatric population is one of the primary factors for the growth of this market. Additionally, increasing number of surgeries performed and per capita health care expenditure coupled with rising incidences of hospital-acquired infections will propel the demand of sterilization equipment and disinfectants market, researchers predict.
The report describes the usage and types of sterilization equipment and disinfectants, amongst which sterilization equipment market accounted for the largest share (over 70 percent) of the total market in terms of revenue. Sterilization equipment market is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.1 percent during the forecast period. The sterilization equipment market has been further segmented as heat sterilization equipment, low-temperature sterilization equipment, filtration sterilization, and radiation sterilization. The low-temperature sterilization equipment market is expected to grow at a CAGR of 10.9% during the forecast period 2013 to 2019.
The market for disinfectants has been segmented as low-, intermediate- and high-level, and oxidizing and non-oxidizing disinfectants. The low-, intermediate- and high-level disinfectants market is expected to grow at a CAGR of 7 percent during the forecast period 2013 to 2019.
The market for sterilization equipment and disinfectants in medical devices application accounted for the largest share (60.8 percent) of the total market in 2012 and is expected to grow at the highest CAGR during the forecast period. This growth is attributed due to rising incidences of hospital-acquired infections and an increase in the number of surgeries performed.
A PR Newswire update also predicts continued growth of the market over the next several years that references a report added to ResearchAndMarkets.com’s offering.
The global sterilization equipment market is expected to reach $11.14 billion by 2023 from $7.94 billion in 2018, at a CAGR of 7 percent, according to the PR Newswire release.
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, according to ResearchAndMarkets.com.
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.
In 2017, North America accounted for the largest share of the sterilization equipment market. The increasing demand for sterilization technologies from the health care 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.
According to another release from PR Newswire, other markets will also be affected by sterilization trends and practices.
“The global medical plastics market size is expected to value at $33.6 billion by 2025. The market is subject to witness a substantial growth due to the growing demand for sterilized plastics from the health care sector. Implementation and up gradation of infection prevention standards is one of the critical factors responsible for the growth of medical plastics industry of late,” according to the report. “The other factors such as rise in the number of surgical, hospital and outpatient procedures are expected to boost the market growth over the forecast period. Globally, the medical plastics market is predicted to grow at CAGR of 5.7 percent in forecast period, providing numerous opportunities for market players to invest in research and development in the market.”