Global Sterilization Technologies Market projected to reach $8.58 billion by 2022, registering a CAGR of 5.8% during the forecast period, 2016 – 2022.
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Penetration of disposable products in the 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.
The growth of the global sterilization technologies market is driven by the rise in the number of surgeries worldwide due to the increasing prevalence of various diseases, the growing demand of sterilization in food & beverage industry, and surge in the number of hospital-acquired infections. Additionally, technological advancements and growth in usage of sterilization technologies in emerging economies would provide lucrative opportunities for emerging market players in the near future. However, the high cost associated with sterilization equipment and strict regulations associated with harmful gases hamper market growth.
The report segments the global sterilization technologies market by type, end user, and geography. Based on the type, the report fragments the market into chemical & gas sterilization, filtration sterilization, ionizing radiation sterilization, and thermal sterilization. In 2015, the chemical & gas sterilization segment accounted for more than half of the global market share, on account of the ability of gases to penetrate multiple packaging layers.
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Based on the end user, the market is further divided into pharmaceuticals, medical devices, food & beverage, agriculture, cosmetic, manufacturing, and others (industrial processing, R&D, and restoration & salvage). The medical devices segment is expected to maintain its dominance through 2022, owing to the use of sterilization technologies to sterilize tissues, medical products, and cleanroom consumables. The cosmetic segment is projected to grow at a substantial CAGR of 6.6% during the forecast period. Regionally, North America dominated the regional market owing to the rise in geriatric population and increase in healthcare expenditure.
The report also profiles key players involved in the global sterilization technologies market, such as 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.)
- TSO3 Inc. (Canada)
They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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