The medical device sterilization market is enhanced by the increasing demand for these devices in surgeries and also for the treatment of various harmful diseases
It’s being expected that by 2030, the Medical Device Sterilization market cap will hit USD 15.6 billion at a CAGR growth of about 10.5%.
Covid-19 Impact & Market Status
The COVID-19 has had a severe impact on economies and companies in a number of nations due to travel restrictions and company closures. The closure of a number of facilities and factories has had a significant impact on global supply chains, delivery schedules, disrupting manufacturing, and product sales on a global scale. Most sectors had been severely impacted, with the exception of life support and medical supplies items, and the medical device sterilization market had also been severely impacted, with market growth hampered due to reduced demand for medical device sterilization during this period as everything came to a halt.
Instruments segment in High Demand
Instruments, Reagents and Services are the different types of medical device sterilization available in the market. Because of the increased frequency of chronic illnesses among individuals, the instruments sector has now earned the biggest revenue share in the market and is expected to continue in this manner over the study period. A large number of sterilization instruments are being produced to combat the increasing frequency of these diseases.
Thermal Sterilization Segment to earn Highest Revenue
Due to the increased number of operations conducted in medical institutions and rising healthcare expenditures, the thermal sterilization category presently has the biggest revenue share in the market, and it is expected to continue to grow over the study period.
Hospitals segment will take the lead
Due to the rising need for sterilisers in the healthcare sector, the hospital segment now generates the biggest revenue share in the market, and it is expected to continue to climb over the study period. The number of chronic diseases and other infections are on the rise during the current times and hence the people are going more frequently to hospitals which enhance the need for medical sterilization devices.
North America expected to Dominate
North America presently holds the largest revenue share in the data acquisition unit market, and it is expected to grow significantly during the study period, owing to the growing prevalence of chronic illnesses and the number of surgeries in those areas.
Due to different technology breakthroughs, the presence of significant organizations, and medical tourism in those locations, the Asia Pacific market is expected to grow at a quick rate.
Also, the growth in the geriatric population and the implementation of these devices in new innovative technologies has led to the rise of the medical device sterilization market.
Sterilization is usually done to destroy any kind of germs or microorganisms like bacteria with the use of instruments or any kind of fluid. They help prevent the transmission of diseases among the people as they clean up the surface or body where they are used. Using poorly sanitised vital objects, on the other hand, suggests a high risk of disease transmission.
During the projected period 2022-2029, the medical device sterilization market is expected to increase from 4102.43 USD million to around 8302.26 USD million, with a Compound Annual Growth Rate (CAGR) of 8.3%.
Sterilization technologies are used to clean up surfaces as they destroy the germs or microorganisms present in them. They are being used in most of the industries especially the medical industry as the frequency of infections has risen in current times. Multiple factors influence industrial sterilising processes that cannot be regulated during the procedures. However, the cost for installation and development of sterilization technology is quite high. Also, the different instruments that are used for sterilization have to make disposable which poses a problem and these factors can restraint the growth of the medical device sterilization market.
Due to the enormous demand, the market is dominated by numerous large firms, including 3M, Cardinal Health, Getinge AB, STERIS, Merck KGaA, Midmark Corporation, and others.
Latest Innovations in the Medical Device Sterilization Market: A Snapshot
- STERIS announced in January 2021 that it has finalised the acquisition of Cantel Medical. STERIS' product and service portfolio, global reach, and customer base will all benefit from this acquisition. This acquisition has raised the product's sales and demand, as well as its overall growth.
Medical Device Sterilization Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 8302.26 million|
|Growth Rate||CAGR of 8.3% during 2021-2028|
|Segment Covered||Type, Technology, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||numerous large firms, including 3M, Cardinal Health, Getinge AB, STERIS, Merck KGaA, Midmark Corporation & among others.|
Key Segments of the Medical Device Sterilization Market
Type Overview, 2022-2029 (USD Million)
Technology Overview, 2022-2029 (USD Million)
- Filtration Sterilization
- Ionizing Radiation Sterilization
- Gas & Chemical Sterilization
- Thermal Sterilization
End User Overview, 2022-2029 (USD Million)
- Pharmaceutical Companies
- Medical Device Manufacturers
Regional Overview, 2022-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa