Sunday, 14 April 2024
Friday, 16 Feb 2024 12:00 am

Sterilization Technologies Market is expected to reach US$ 9,109.08 million by 2030

Global sterilization technologies market is anticipated to cross USD 9,109.08 million by 2030 | Insights on share, size and growth

By The Insight Partners

Ethylene Oxide Sterilization Segment to Hold Significant Share of Sterilization Technologies Market During 2022–2030

According to our latest study on "Sterilization Technologies Market Forecast to 2030 – Global Analysis – Method, End User," the market value is expected to reach US$ 9,109.08 million by 2030 from US$ 5,167.00 million in 2022; it is estimated to register a CAGR of 7.3% from 2022 to 2030. The sterilization technologies market report emphasizes the key factors driving the market growth and developments by prominent players. Factors such as the increasing prevalence of healthcare-associated infections and the rising number of surgical procedures propel the market growth. However, stringent regulation regarding chemical emissions impedes the sterilization technologies market growth

Surgical care is essential for treating diverse health conditions such as injuries, malignancy, infections, and cardiovascular diseases. Most medical and surgical devices in healthcare facilities must be sterilized to avoid life-threatening infections. As per an article published in 2020 by John Wiley & Sons, Inc., over 313 million patients undergo surgical procedures every year globally. An increasing number of surgeries and hospital-associated infections underline the importance of sterilization services in the healthcare domain. The most common surgical procedures include cesarean, orthopedic processes (hip and knee replacement), neurosurgical procedures, and intra-abdominal procedures. An upsurge in road fatalities and congenital disabilities has also led to a rise in the number of surgeries performed worldwide. As per the CDC, nearly 120,000 newborns are affected by congenital disabilities each year in the US.

Sterilization Technologies Market, by Geography, 2022 (%)

To get sample Copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00009124

Source: The Insight Partners Analysis

According to the American Society for Aesthetic Plastic Surgery, ~15.6 million cosmetic surgeries and minimally invasive procedures were performed in 2020. As per the American Society of Plastic Surgeons, an upsurge of 131% in cosmetic procedures was noted from 2000 to 2020. Moreover, in 2020, the total surgical procedures accounted for a 22% increase, while minimally invasive procedures increased by 174%. Medical devices that come into contact with body tissues or fluids as well as surgical instruments, biopsy forceps, and implanted medical devices are considered critical for sterilization. These items should be sterile when used, as microbial contamination could result in disease transmission to patients. Thus, the increasing number of surgeries performed bolsters the sterilization technologies market size. Further, the continuous developments in sterilization technology are expected to bring new sterilization technologies market trends in the coming years.

The “sterilization technologies market analysis” has been carried out by considering the following segments: method and end user. By method, the market is segmented into ethylene oxide sterilization, chlorine dioxide sterilization, gamma ray sterilization, electron beam sterilization, steam sterilization, and others. The ethylene oxide sterilization segment held the largest sterilization technologies market share in 2022. The chlorine dioxide sterilization segment is anticipated to register the highest CAGR during 2022–2030.

The market, by end user, is divided into medical device companies, pharmaceutical and biotechnology companies, hospitals and clinics, laboratories, and others. The medical device companies segment accounted for the largest sterilization technologies market share in 2022. It is further anticipated to register a higher CAGR during 2022–2030.

Sterilization Technologies Market, by Geography:

The geographic scope of the sterilization technologies market report encompasses North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). North America accounted for the largest market share. A rise in HAI cases due to contaminated instruments and lack of preventive measures is the major factor that fuels the demand for sterilization technologies across healthcare facilities in the US. As per the Centers for Disease Control and Prevention (CDC), in 2022, approximately 1 in 31 American patients and 1 in 43 nursing home residents contracted at least one HAI each day. As per the CDC, more than ~1.7 million infections and ~99,000 associated deaths each year are due to HAIs. These estimates indicate the need for improvements in patient care practices in healthcare facilities in the US.

The demand for sterilization products is growing significantly across the US. In response to awareness about sterilization, various market leaders are launching their products. In April 2020, Advanced Sterilization Products (US) received FDA Emergency Use Authorization (EUA) for its STERRAD sterilizers. The product enables healthcare providers to decontaminate N95 Respirators using STERRAD Sterilization Cycles in hospital settings.  

Advanced Sterilization Products Services Inc, Steris Plc, Atec Pharmatechnik GmbH, Belimed Inc, Andersen Sterilizers Inc, Consolidated Machine Corp, Sterile Technologies Inc., Tuttnauer, BMT Medical Technology SRO, and Steelco SpA are among the prominent players contributing to the sterilization technologies market growth. The companies implement organic strategies such as launches, expansions, and product approvals and inorganic strategies such as collaborations and partnerships.

In August 2023, the FDA cleared the Steris V-PRO maX 2 Low-Temperature Sterilization System for 3D-printed devices used in healthcare facilities. This is the first FDA-approved sterilization system capable of effectively sterilizing surgical instruments such as patient-specific surgical guides (e.g., for osteotomy, shoulder, hip, knee, and spine surgeries) and 3D-printed anatomical models intended for single use during operative procedures.

In May 2023, Ahlstrom launched Reliance Fusion, a next-generation simultaneous sterilization wrap that helps increase the efficiency of surgical equipment tray sterilization at hospitals. Reliance Fusion integrates top-quality cellulose and polypropylene-based materials.

Contact Us
Contact Person: Content Team 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy