Sterilization Technology Market

The Sterilization Technology Market Share is expected to reach a CAGR of 7.05% and the market will grow up to 12,701.52 USD million.

We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.

COVID-19 Impact on Sterilization Technology Market

The COVID-19 outbreak has bolstered the need for respiratory devices such as ventilators, masks, scrub suits, sanitizers, and more. The escalation in the use of these medical devices in the healthcare industry has led to a higher demand for effective sterilization technologies. Ethylene oxide or EtO is the most commonly used sterilization technique that is playing a critical role in the fight against the novel coronavirus. The EtO method is ideal for medical devices that cannot bear extreme temperatures, such as gowns, syringes, catheters, gloves, products that have plastic tubing, masks and respiratory devices, and is therefore, observing significant adoption in this pandemic era.

Given the extremely high incubation period, very little information with regard to the specific mode of transformation is known. The undeterminable survivability rate of the novel coronavirus on different surfaces has boosted the importance of sterilization and decontamination of equipment, surfaces, and environment to control the spread of the SARS-CoV-2 infection. Therefore, despite the lockdown and workforce shortage, the sterilization technology is expected to observe considerable demand in 2020 and many more years to come. Another growth rendering factor can be the mounting support of the government across countries, who are relaxing the existing restrictions for offering fast solutions to people, businesses and several industries.

Sterilization Technology Market Outlook and Analysis by Type of Sterilization (Ethylene Oxide, Ionizing Radiation, Filtration and Thermal Sterilization), by (Chemical Process, Physicochemical, Synergetic Processes and Physical Processes), End User (Pharmaceutical Industry, Hospitals Clinics and Medical Device Manufacturers) - Forecast till 2030.

Major Key Players:

The Sterilization Technology Market Players are Steris PLC, Sterile Technologies Inc., Beta Star Life Science Equipment Inc., 3M Company, Advanced Sterilization Products Services Inc., Atec Pharmatechnik GmbH, Donaldson Co. Inc., Feldmeier Equipment Co., and more.

Segment Analysis

The market segmentation for sterilization technology comprises sterilization, process, and end-user.

The types of sterilization technologies are ionizing radiation (electron beam radiation, X-ray radiation and gamma radiation), ethylene oxide, thermal sterilization, filtration, and more. Ethylene oxide technology accounts for the biggest share of 48.1% in the overall market, given its significant penetration, radiation dose’s high strength and exposure time. However, it is likely that the ionizing radiation technology would soon catch up to the ETO segment, as the latter is known to cause neurological conditions and cancer, among other health issues.

The processes involved in sterilization technology include physicochemical (plasma and steam), chemical process (hydrogen peroxide, ozone, and chlorine dioxide), physical processes (microwaves and pulsed light system) and synergetic processes (psoralens UVA and low-temperature steam formaldehyde). 

The top market end users listed in the report are hospitals clinics, medical device manufacturers and pharmaceutical industry. Pharmaceutical industry is presently in the lead and had accrued the highest share of 38.4% and value of USD 1948.10 million in 2017. The segment is also touted to hit a valuation of USD 3163.60 million by 2023, since the industry requires efficient sterilization processes and need to ensure the safety of the products and the process units for the maintenance of their quality. The need to adhere to the stringent norms and standards also bolsters the adoption of the sterilization technology in the pharmaceutical industry.

Regional Analysis

The primary regions across which the sterilization technology market is expected to grow over the forecast period include Europe, the Americas, MEA or Middle East Africa and Asia Pacific or APAC.

In 2017, with the biggest share of close to 40.1%, the American market took the lead and shall remain so throughout the conjectured period. The sterilization technology market in the region is quite lucrative, thanks to the burgeoning pool of patients afflicted with chronic disorders and the resultant growth in hospital admissions as well as surgical procedures. Escalating cases of HAIs, regulations mandating the use of extensively sterilized medical devices and the rising intensity of competition between reputed players in the United States could also translate into significant revenues.

With the fastest growth rate of 8.58%, APAC is strongly backed by the fast developing economies of India and China along with the mounting prevalence of nosocomial infections. The thriving pharmaceutical and medical device industries in the region and the improving healthcare infrastructure have also caused market expansion. The emerging medical tourism trend in the region, particularly for oncology, cardiovascular, fertility treatments and orthopedics is set to bolster the focus of the healthcare system on effective sterilization.

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