The sterilization global market is poised to grow at a high single digit CAGR to reach $8,438.2 million by 2024

Thursday, September 13, 2018 Research News
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LONDON, Sept. 12, 2018 /PRNewswire/ -- The process of completely eliminating any surface or object from bacteria or other pathogenic agents is referred as sterilization.

Download the full report: https://www.reportbuyer.com/product/5491662 The preference for a particular method of sterilization depends on many aspects such as constituents of the sterilizing object, type of application, microbial load, classification
and suitability of sterilization method. Sterilization is given at most importance in the medical field to prevent the buildup of disease causing pathogens and to spread of diseases.The sterilization global market is poised to grow at a high single digit CAGR to reach $8,438.2 million by 2024. Rise in incidences of hospital acquired infections (HAIs) especially in aging population and increase in number of surgeries performed are driving sterilization market growth. In addition, use of e-beam radiation sterilization, through contract sterilization industry, advancements in technologies such as use of gas plasma, use of NO2, peracetic acid sterilization, e-beam technology, supercritical CO2 and improving healthcare infrastructure are providing new opportunities for growth to sterilization market. However, high cost of sterilization technology and capital expenditure for setup of new facility and issues with handling of ethylene oxide are restraining market expansion. Stringent regulations for ensuring sterilization and validation of sterile filtration methods and increasing popularity of single-use products in healthcare, pharma and bio-pharma industries is threatening the market growth.The Sterilization global market by products is segmented as equipments, consumables and services. Equipments market commanded the largest revenue and is projected to grow at high single digit CAGR from 2017 to 2024. Services market is projected to grow with strong CAGR from 2017 to 2024 due to increase in outsourcing of sterilization process to professional organizations. Equipments market is further segmented based on products into heat, low-temperature, filtration and radiation sterilizers. Heat sterilization commanded the largest revenue in 2017 and is projected to grow at high single digit CAGR from 2017 to 2024 this is because heat sterilization is the safest, cheapest and most widely used sterilization method. However, low-temperature sterilization is projected to grow at strong high single digit CAGR from 2017 to 2024 due to complexity of device designs and non-suitability of these devices for heat Sterilization. Heat sterilizers are further sub-segmented into Wet/Moist heat sterilization and dry heat sterilization based on method. Moist heat sterilization commanded the largest revenue in 2017 and is projected to reach $1,781.5 million by 2024. Based on sterilizer type heat sterilization is segmented into Vertical horizontal and portable sterilizers. Vertical sterilizers commanded the largest revenue in 2017 and portable sterilizers are projected to grow at double digit CAGR from 2017 to 2024. Low temperature sterilization is subdivided into ethylene oxide (EtO) sterilization, Hydrogen Peroxide, Vapour Hydrogen Peroxide, Formaldehyde sterilization Peracetic acid and others. Ethylene oxide was the fastest and largest segment in 2017 and is projected to grow at double digit CAGR from 2017 to 2024. The radiation sterilization market by technology is further segmented into Ionizing and non-ionizing radiation. Ionizing radiation is expected to grow at mid single digit CAGR from 2017 to 2024 due to increasing acceptance of radiation sterilization and popularity of e-beam technology.The sterilization global market by consumables is further segmented into sterility monitors, sterile pouches & rolls, sterilization wraps and others. The sterilization monitors commanded the largest revenue in 2017 and it is projected to grow at mid single digit CAGR of from 2017 to 2024. The sterility monitors are further segmented into biological and chemical indicators where chemical indicators commanded the largest revenue in 2017 and this market is projected to grow at high single digit CAGR from 2017 to 2024 due to mandatory requirement to ensure sterility of medical devices after sterilization process. The sterilization market by services is divided based on type of service into In-house sterilization services and Contract Sterilization services. Contract sterilization service commanded the largest revenue in 2017 and is projected to be the fastest growing segment with double digit CAGR from 2017 to 2024 due emerging popularity of outsourcing of sterilization processes by hospitals, medical device companies and also as cost saving strategies.The Sterilization market by end-users is divided into Pharma & Biotech, Medical devices, Hospitals and Others. Hospital commanded the largest revenue in 2017 and is project to grow at mid single digit CAGR from 2017 to 2024 due to increasing concern of hospital acquired infections and emerging diseases. However, medical devices is projected to be the fastest growing segment at high single digit CAGR from 2017 to 2024 due to stringent regulatory requirements and increasing number of surgeries.Geographically, North America is the largest market, with a share of XX% followed by Europe, Asia-Pacific and Rest of the World. North America region commanded the largest in 2017 and is projected to grow at high single digit CAGR. Increasing aging population and number of surgeries performed combined with stringent regulations to curb hospital acquired infections (HAIs) are the driving factors. However, Asia-Pacific region is expected to grow close to double digit CAGR from 2017 to 2024 due to increased public awareness and adoption of new sterilization technologies.The Sterilization global market is a highly fragmented, and all the existing players in this market are involved in developing new and advanced products to maintain their market shares. Some of the key players of the sterilization market are 3M company (U.S.), Cantel Medical (U.S.), Getinge (Sweden), Shinva (China), Metall Zug (Belimed) (Switzerland), Sterigenics (U.S.), Steris (U.S.), Matachana (Spain), J&J (ASP) (U.S.), Tuttnauer (Israel), Halyard Health, Inc (Owens & Minor)(U.S.)The report provides an in depth market analysis of the above mentioned segments across the following regions:North AmericaEuropeAsia-Pacific• Rest of the World (RoW)Download the full report: https://www.reportbuyer.com/product/5491662 About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: sarah@reportbuyer.com Tel: +1 (718) 213 4904 Website: www.reportbuyer.com

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