Sterilization is an inevitable process in the medical field that uses various physical or chemical sterilizing agents or sterilants to completely destroy, deactivate or eradicate pathogenic microbes, both in their vegetative or sporing state, from various healthcare products to prevent the transmission of germs and diseases to patients and healthcare professionals using them. Various kinds of heat sterilizers utilizing either the moist heat or dry heat sterilant, chemical sterilizers utilizing the microbicidal chemicals like ethylene oxide sterilizers, vaporized or gas plasma hydrogen peroxide, nitrogen dioxide, ozone and others, radiation sterilizers using the gamma radiation, Ultra violet light radiation, electron beam radiation or X-ray radiation are used to sterilize broad array of healthcare products and to maintain aseptic working conditions throughout the healthcare industry.
According to IQ4I estimations, the sterilization global market is expected to reach $9,398.9 million by 2028 growing at a high single digit CAGR from 2021 to 2028. Factors like necessity to curb patient safety threatening and economically straining Healthcare Associated Infections (HAIs), the requisite to sterilize the reusable high risk or critical surgical instruments used in the persistently escalating surgical procedures across the globe, the regulatory mandate of terminal sterilization or aseptic processing of healthcare products before commercialization, increasing trend of outsourcing of sterilization services by the healthcare industry, constant progressive refinements of various sterilization technologies, the gradual transition of medical devices market from reprocessed to the value enhanced single use devices and the necessity to terminally sterilize the huge volume of disposable devices, steadily increasing and advancing healthcare facilities, healthcare industry and research settings across the globe with increased utilization of various sterilization products and the persistently elevating fragile geriatric population burdened with several co-morbidities with increased medical needs and increased vulnerability to HAIs are propelling the sterilization market growth. Factors like high cost for sterilization product and facility installation and upkeep, increasing concerns about the various adverse effects associated with sterilization technologies, necessity of sterilizer, sterilization method developers, manufacturers and contract sterilization service providers to be compliant with stringent regulatory guidelines, paucity of skilled personnel for performing sterilization processes and the various sterilization compatibility challenges associated with the advanced healthcare products are dampening the market growth.
The report covers business intelligence information and analysis of various Sterilization market segments based on the product and services, end-user and geography. Sterilization equipment segment held the largest share or revenue in 2021 and is expected to grow at a mid single digit CAGR from 2021 to 2028 while Contract Sterilization services segment is the fastest emerging segment that is expected of growing at a double digit CAGR during the forecasted period. Heat sterilization equipment segment fetched the largest revenue in 2021 and is expected to grow at a mid single digit during the forecasted period while Chemical Sterilization equipment segment is the fastest emerging segment that is expected of growing at a high single digit CAGR from 2021 to 2028. Sterility Monitoring products segment is the largest and fastest emerging segment that is expected of growing at a high single digit CAGR from 2021 to 2028. Ethylene oxide contract sterilization services segment occupied the largest share in 2021 and is expected to grow at a high single digit CAGR from 2021 to 2028 while Gamma radiation sterilization services market is the fastest emerging service segment and is expected of growing at a double digit CAGR during the forecast period. The medical device industry segment is the largest and fastest emerging segment and is expected of growing at a high single digit CAGR from 2021 to 2028. Even though North America dominates 2021 sterilization global market and is expected of growing at a mid single digit CAGR from 2021 to 2028, Asia-Pacific region is the fastest emerging region that is expected of growing at a double digit CAGR during the forecasted period.
The sterilization market is characterized by progressive refinements of existing technologies or equipments and a constant pursuit for an ideal sterilizing agent. Several promising eco-friendly osmosis based sterilization technology and the Triple buster activated gas sterilization technology are emerging. The steadily growing space of sterilization market is substantiated by the ever expanding patent portfolio of sterilization product companies and the constantly increasing number of most promising industrial gamma and electron beam sterilization technology facilities (not exclusive to healthcare product sterilization) across the globe. U.S. and Russia are spearheading the adoption of industrial gamma and electron beam sterilization technology respectively.
Heat Sterilizers, Asia-Pacific region, China and Shinva Medical Instrument Co Ltd. (China) respectively dominated the sterilizers global install base based on product type, region, country and company in 2021.
The global COVID-19 pandemic which has been a blessing in disguise for the sterilization industry has led to significant increase in revenue of most of the players in the market, HAS triggered several research studies evaluating the feasibility of various sterilization modalities in effectively sterilizing disposable N95 respirators, led to issue of EUA for numerous Hydrogen peroxide sterilizers so as to alleviate the shortage of PPE and respirator masks by FDA, has increased utilization of reusable rigid sterilization containers in SPDs and Microwave-assisted sterilization for sterilization of the biomedical waste, especially that contaminated with Corona virus and overshadowing of the Ethylene oxide associated sterilization controversy.
The report while exemplifying the leveraging of the advanced sterilization products or competencies of sterilization product or service firms by many eminent end-users also highlights the various organic and inorganic market perpetuation strategies of leading players in the market.
The sterilization global market is consolidated with the top six players occupying major share of the market and other companies occupying only minor share of the market. Some of the prominent players in the sterilization global market are 3M Company (U.S.), Fortive Corporation (ASP) (U.S.), Getinge AB (Sweden), MMM Group (Germany), Metall Zug (Belimed) (Switzerland), Matachana Group (Spain), Owens & Minor Inc. (U.S.), Sotera Health Company (U.S.), Shinva Medical Instrument Co.Ltd (China), Steris PLC (Ireland), TUTTNAUER Co Ltd. (Israel) and others.
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