Sterilization Technologies Market is Conjectured to Grow Robustly, Reaching a Total Valuation of US $12.78 Billion by 2030

Sterilization technologies are procedures used to eliminate transmissible agents, such as bacteria, virus, fungi, and prions, by using chemical and physical agents known as sterilants. 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. 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.

According to the report, the global sterilization technologies industry was pegged at $7.20 billion in 2020, and is expected to reach $12.78 billion by 2030, growing at a CAGR of 5.9% from 2021 to 2030.

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COVID-19 scenario-

  • The outbreak of COVID-19 is expected to impact the growth of the global sterilization technologies market positively. The rapid spread of COVID-19 boosted the demand for sterilization equipment and services due to rise in cases of HAIs in hospital settings.
  • The rise in healthcare expenditure due to the Covid-19 outbreak and increase in number of temporary hospitals are propelling the growth of the market.
  • Factors such as rise in demand for hospital beds and intensive care units (ICUs), the expansion of isolation facilities, and increased consumer awareness of sterilizing products and services for medical devices and single-use products have all fuelled sterilization products and service demand.

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According to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market Research, 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.

Chemical & gas sterilization accounted for more than half market share, in terms of revenue, in 2021, 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.

increase in number of surgeries and prevalence of various diseases, rise in number of hospital acquired infections, and growth in demand of sterilization in food & beverage industry propel the growth of the sterilization technologies market.

North America, to lead the trail in terms of revenue-

By region, North America garnered the major share in 2020, contributing to nearly two-fifths of the global sterilization technologies market, and is expected to continue its dominance throughout the forecast period. This is owing to the growing demand for sterilization technologies from the healthcare industry to minimize the occurrence of HAIs, the increasing number of surgical procedures performed, and the presence of key players in the region. However, the market across Asia-Pacific is expected to witness the fastest CAGR of 6.7% during the forecast period. This is due to accelerated economic growth, rise in government focus on the healthcare sector, increase in prevalence of chronic diseases, the outbreak of COVID-19, investment from government bodies to expand healthcare facilities, and favorable regulatory reforms

Key players in the industry-

  • AtecPharmatechnik GmbH
  • Advanced Sterilization Products Services Inc.
  • Sterile Technologies Inc.
  • Belimed AG
  • Nordion Inc.
  • Stryker Corporation.
  • Getinge Group
  • Noxilizer, Inc.
  • Steris Plc.
  • The 3M Company

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