Penetration of disposable products in medical and pharmaceutical industry is a threat to market growth, as it eliminates the need for sterilization technologies. However, all instruments and devices cannot be converted into one-time-use equipment, and thus sterilization technologies are expected to continue to flourish.
Global sterilization technologies market was valued at $5,768 million in 2015, and is expected to reach $8,578 million by 2022, growing at a CAGR of 5.8% from 2016 to 2022. Sterilization technologies are processes used to eliminate all viable life forms including bacteria, prions, viruses, fungi, and spore forms from surfaces of equipment, pharmaceuticals, medications, food ingredients, and biological culture medium. The diversity of sterilization procedures and operating systems has arisen as a result of efforts taken to optimize sterilization to meet varying needs imposed by a wide range of products in different industries. Majority of products in the healthcare facilities and medical device industry are terminally sterilized. Industrial sterilization processes are affected by multiple factors that cannot be controlled absolutely such as number of initial organisms, temperature regulation in every part of equipment, and intrinsic viability of individual microorganism to resist heat.
Increase in number of surgeries, rise in number of hospital-acquired infections (HAIs), and growth in demand for sterilization technologies in various end user industries, including food & beverage, are major factors that drive the market growth globally. Ethylene oxide, formaldehyde, hydrogen peroxide, and propylene oxide are active agents employed in sterilization technologies. Enhancement in low-temperature sterilization systems through continuous innovation has led to reduced processing time and capacity expansion for instrument reprocessing.
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Regulatory authorities present in this market include the Food and Drug Administration (FDA), International Organization for Standardization (ISO), and Occupational Safety and Health Administration (OSHA). High cost of sterilization equipment & devices and stringent regulations associated with harmful gases hinder the growth of sterilization technologies; however, technological advancements and rise in use of sterilization technologies in emerging economies provide numerous opportunities for market expansion.
Asia-Pacific is the leading region, in terms of growth, due to rise in awareness regarding diseases, improvement in healthcare infrastructure, and expansion of production sites of foreign players. High installation and utility costs associated with sterilization technologies, increase in regulatory pressures, and introduction of disposable devices, such as bandages, syringes, sutures, and gowns, limit the market growth. Continuous advancements in the medical device industry and R&D activities by key leading players are expected to offer opportunities for market growth.
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Chemical & gas sterilization accounted for more than half market share, in terms of revenue, in 2015, owing to the ability of gases to penetrate multiple packaging layers. This sterilization technology is used for catheters, equipment with integrated electronics, assembled complex devices, stents, custom procedure packs, multi-lumen tubing products, and wound care dressings.
Medical devices segment held the largest share by end user in 2015, in terms of revenue, and is expected to grow at a CAGR of 5.7% during the forecast period. Sterilization technologies are used in the medical industry to sterilize tissues, medical products, and cleanroom consumables. Penetration and dose uniformity ratio, shorter processing time, enhanced polymer reaction, and flexibility have made X-ray processing as the preferred sterilization procedure for medical device products.
The key market players profiled in this report are Advanced Sterilization Products Services Inc. (U.S.), Atec Pharmatechnik GmbH (Germany), Belimed AG (U.S.), Getinge Group (Sweden), Nordion (Canada) Inc. (Canada), Noxilizer, Inc. (U.S.), Sterile Technologies Inc. (U.S.), Steris Plc (U.S.), The 3M Company (U.S.), and TSO3 Inc. (Canada).