NEW YORK, Aug. 11, 2020 /PRNewswire/ --
KEY FINDINGS
The global sterilization equipment market is estimated to grow with
a CAGR of 6.95%, across the forecast period of 2019 to 2028.
Primary factors influencing the market growth include, preventative
measures by hospitals against nosocomial infections, rising number
of surgical procedures, growing demands of the food and beverage
industry, and the developments within pharmaceutical
industries.
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MARKET INSIGHTS
Sterilization entails eliminating all life forms such as viruses,
bacteria, fungi, and spores present in the environment, which may
cause diseases or infections.Similarly, sterilization equipment is
used by the medical and food industry, laboratories, spacecraft,
pharmaceutical factories, and other sectors with a high risk of
infections, for disinfection.
Moreover, various research organizations that deal with research
against viruses and bacteria require sterilization equipment to
neutralize their settings.
Surgical procedures are at a considerable rise, owing to the
growing number of injuries and chronic diseases.According to the
2017 World Health Organization (WHO) data, cardiovascular diseases
(CVD) are the leading causes of global deaths, with over 17 million
fatalities, every year.
These conditions comprise a group of heart and blood vessel
disorders, including cerebrovascular diseases, coronary heart
disease, and rheumatic heart diseases.Moreover, four out of five
deaths are caused by strokes and heart attacks, with one-third of
deaths occurring in people under the age of 70.
This leads to an increase in surgeries related to cardiovascular
diseases.Conversely, the COVID-19 pandemic has caused an unexpected
increase in individuals admitted into hospitals.
As a result, medical facilities have created different wards to
isolate patients infected with the coronavirus and minimize the
risk of transmission. Owing to these factors, the demand for
sterilization equipment is predicted to increase across the
forecast period.
REGIONAL INSIGHTS
The geographical analysis of the global sterilization equipment
market growth includes the evaluation of Asia Pacific, North
America, Europe, and the
rest of the world.With the United
States as the leading manufacturer and consumer of
sterilization systems, and Canada
possessing a massive potential for sterilization technologies,
North America is estimated to be
the fastest-growing market.
Moreover, the rise in geriatric population and increasing
healthcare expenditure is also attributed to the market growth.
COMPETITIVE INSIGHTS
The degree of competitive rivalry in the global market is estimated
to remain high across the forecast period, due to the presence of
numerous local industries. Some of the renowned companies in the
market include, Advanced Sterilization, MMM Group, 3M Company, Cardinal Health, Steris Corporation,
Belimed AG, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints,
Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of
historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key
segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and
country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape,
Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key
companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services
offered, SCOT analysis, and recent strategic developments
Companies mentioned
1. 3M COMPANY
2. ADVANCED STERILIZATION (ACQUIRED BY FORTIVE)
3. ANDERSEN PRODUCTS INC
4. BELIMED AG
5. CANTEL MEDICAL
6. CARDINAL HEALTH
7. GETINGE AB
8. MATACHANA
9. MMM GROUP
10. SOTERA HEALTH
11. STERIS CORPORATION
12. STRYKER CORPORATION (TSO3 INC)
13. SYSTEC GMBH
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