The Sterilization equipment market is expected to grow at a compound annual growth rate of 12.38% over the forecast period to reach a market size of US$20.333 billion in 2026, from US$8.982 billion in 2019.
The market has been expected to surge in the coming years, due to the increasing demand for sterilization equipment for various sectors, such as the food and healthcare sectors, worldwide. With the rise in investment, intending in the development of novel and advanced sterilization equipment, the market is expected to grow at a considerable rate. Several firms and corporations have been making a considerable impact in the market, with the introduction of novel and advanced solutions for their customers.
Growth in the food industry
The market is expected to surge in the coming years, due to the growth and rise of food sectors, worldwide. With the rise in disposable income and the need to feed a considerable sum of the population, there has been a surge in the demand for high-quality and clean food, globally. According to the data given by the United Nations, by the year 2050, 9.7 billion have to be fed. Sterilization is required to eliminate and destroy viable organisms in food products. It is required to destroy bacteria, molds, spores, and yeasts in the food. There have been a plethora of firms and corporations that have been offering solutions to their customers, worldwide. For instance, DTS, one of the imperative players in the market, has been offering food sterilization equipment to their customers, worldwide. The company offers sterilizers for the test, retort systems, immersion retort, and standard batch retorts to their customers.
Growth in the Healthcare sector
The market is expected to surge in the coming years, due to the growth in the healthcare sector, worldwide. There has been a rise in the demand for sterilization activities in healthcare and medical facilities, devices, and others. The radiation sterilization method has been gaining traction for the past few years and has since become an effective, safer, and cost-effective method for the sterilization of single-use medical devices, like surgical gloves and syringes. With the spread of the COVID-19 pandemic, there has been a significant surge in the demand for novel syringes and surgical products, worldwide. Companies like HMD, BD, and others have stated that they had invested a significant sum of capital to increase their production of syringes, intending to vaccinate a maximum of people, worldwide. There has been a significant surge in the demand for medical and surgical gloves, worldwide. Several firms and manufacturers have been offering novel and advanced sterilization equipment for their customers, worldwide. For instance, Getinge, one of the imperative players in the market, has been offering and providing sterilizers for equipment, components, and tubs. The company has also been offering sterilization systems for biomedical research. S.M. Scientific Instruments, one of the key players, has been offering sterilization equipment for the medical and healthcare sector. The company has been offering sterilization equipment for hospitals, worldwide.
|Market size value in 2019||US$8.982 billion|
|Market size value in 2026||US$20.333 billion|
|Growth Rate||CAGR of 12.38% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Technique, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Belimad AG, Steris Corporation, 3M, Matachana Group, Getinge Group, Cardinal Health, MMM Group, Advanced Sterilization Products, Cantel Medical, GPC Medical Ltd.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the sterilization equipment market size by 2026?
A1. The sterilization equipment market is expected to reach a market size of US$20.333 billion by 2026.
Q2. What are the growth prospects for the sterilization equipment market?
A2. The global sterilization equipment market is expected to grow at a CAGR of 12.38% during the forecast period.
Q3. How is the global sterilization equipment market segmented?
A3. The sterilization equipment market has been segmented by technique, end-user, and geography.
Q4. What is the size of the global sterilization equipment market?
A4. Sterilization Equipment Market was valued at US$8.982 billion in 2019.
Q5. What factors are anticipated to drive the sterilization equipment market growth?
A5. The sterilization equipment market has been expected to surge due to the increasing demand for sterilization equipment for various sectors, such as the food and healthcare sectors, worldwide.
Advanced Sterilization Products
GPC Medical Ltd.
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