Global Sterilization Equipment Market Size to Witness Growth at CAGR Exceeding 9% From 2014 To 2025: Million Insights
FELTON, California, August 21, 2017 /PRNewswire/ --
The global sterilization equipment market size was worth USD 4.3 billion in 2016 which is anticipated to grow at a CAGR of more than 9.5% during the forecast period. Various factors, which led to such huge market growth, include increase in the aging population, rise in the number of surgeries conducted, and surging incidences of chronic diseases. Also, there are number of changes in the government policies and regulations which in a way is helping the sterilization equipment market to grow and advance. Such changes in the policies have resulted in increase in the adoption of sterilization equipment by various hospitals and diagnostic centres.
Similarly, increase in the number of government initiatives, which are stringent enough to ensure utmost quality of the product, is making way for the sterilization equipment market to grow. Advancement in technologies of sterilization equipment such as gamma ray filtration, radiation, microfiltration and many more have created wide scope for sterilization equipment in the food industry.
The heat sterilization technique captured the largest market share in 2016 in which hydrated state is preferred more than dry state due to its greater reliability in use. It is estimated that the low temperature market segment is expected to grow at the highest CAGR due to compatibility with thermo-labile products, lesser complex in handling and monitoring. The introduction of various advancements in technology of the equipment for sterilization technique has led to better business expansion and penetration to various regions around the globe.
The hospital segment captured the largest market share in the year 2016, due to growing infection burden, rising number of surgeries performed, advancing technologies and rise in the number of patients being admitted. The ever-increasing need for quality assurance and quality control by pharmaceutical company in its manufacturing and storage processes resulted it to be the second largest segment in the global market.
Browse full research report with TOC on "Sterilization Equipment Market Size & Forecast Report, 2014 - 2025" at: https://www.millioninsights.com/industry-reports/sterilization-equipment-market
North America dominated the sterilization equipment industry having largest revenue share in 2016. Increasing incidences of disease caused by a number of infections, rise in the use of reusable surgical equipment, greater advancement in technology is leading to greater market share of the region.
Some of the top companies operating in this industry are STERIS Corporation; Advanced Sterilization Products Services, Inc.; Getinge Group; 3M; Cantel Medical; Belimed; and others.
A huge pool of companies is focused towards advancing the sterilization equipment technology after thorough research and development in this sector. The most common strategy opted by companies are through mergers acquisitions and collaboration in order to gain the maximum market share in the industry.
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Market Segmentation:
Sterilization equipment Technique Outlook (Revenue, USD Million, 2014 - 2025)
• Heat sterilization
• Low-temperature sterilization
• Filtration sterilization
• Radiation sterilization
• Liquid sterilization
Sterilization equipment End-user Outlook (Revenue, USD Million, 2014 - 2025)
• Hospitals
• Pharmaceutical companies
• Medical devices companies
• Clinical laboratories/research centers
• Others
Sterilization equipment Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• Japan
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
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