Sterilization Technologies Market Expected to Reach $7,200.53 Million by 2030 | CAGR of 5.9%

According to a new report published by Allied Market Research, titled, “Sterilization Technologies Market by Type, and End Users: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global sterilization technologies market size was valued at $7,200.53 Million in 2020, and is projected to reach $12,782.65 Million by 2030, registering a CAGR of 5.9% from 2021 to 2030.

Sterilization technologies are procedures used to eliminate transmissible agents, such as bacteria, virus, fungi, and prions, by using chemical and physical agents known as sterilants. Increase in number of surgeries, rise in number of hospital-acquired infections (HAIs), and growth in demand for sterilization technologies in various end-user industries, including food & beverage, are major factors that drive the market growth globally. Ethylene oxide, formaldehyde, hydrogen peroxide, and propylene oxide are active agents employed in sterilization technologies. Enhancement in low-temperature sterilization systems through continuous innovation has led to reduced processing time and capacity expansion for instrument reprocessing. Regulatory authorities present in this market include, the Food and Drug Administration (FDA), International Organization for Standardization (ISO), and Occupational Safety and Health Administration (OSHA). High cost of sterilization equipment & devices and stringent regulations associated with harmful gases hinder the growth of the sterilization technologies market. However, technological advancements and rise in use of sterilization technologies in emerging economies provide numerous opportunities for market expansion.

The major factors that drive the growth of the market include, increase in rate of infections, rapid growth of biotechnological and pharmaceutical companies, increase in medical procedures, and advancement of technology in the sterilization market. Infectious diseases, such as AIDS and innovation of medicines and initiatives taken by the government are also considered as primary drivers for the growth of the sterilization technologies market.

Thermal sterilizers need steam, water, and electricity to work efficiently. However, high maintenance cost and replacements of sterilization equipment is expected to be a significant problem hampering the growth of the sterilization technologies market.

Active agents, such as formaldehyde are flammable, toxic, carcinogenic, and explosive. They contain the potential to affect patients’ health and cause environmental hazards. Governments in many countries have strict regulation due to the emission of greenhouse gases and safety issues. Thus, strict rules and regulations related to harmful gases are also the main factors to restrain growth of the sterilization technologies market.

The sterilization technologies market is segmented on the basis of type, end user, and region. On the basis of type, the market is divided into chemical and gas sterilization, filtration sterilization, ionizing radiation sterilization, and thermal sterilization. Chemical and gas sterilization is further divided into ethylene oxide, formaldehyde, and others. Filtration sterilization is further divided into liquid and air & gas. Ionizing radiation sterilization is classified as gamma radiation, electron beam radiation, and others. Thermal sterilization is further classified as autoclaving, distillation, pasteurization, retorting and others.

On the basis of type, the Chemical & Gas Sterilization segment currently dominates the global sterilization technologies market and is expected to continue during the forecast period owing to the their effectiveness in sterilizing the reusable medical instruments, surgical instruments, and other materials required for various microbial-safe environments.

On the basis of end user, the medical devices segment dominated the global sterilization technologies market in 2020 and is anticipated to be dominant in the market owing to growing incidence of hospital-acquired infections (HAIs), and the rising number of surgical procedures propelling the growth of the medical devices industry.

North America dominated the market in 2020, owing to the growing demand for sterilization technologies from the healthcare industry to minimize the occurrence of HAIs, the increasing number of surgical procedures performed, and the presence of key players in the region are the major factors supporting the growth of the. However, Asia-Pacific is expected to witness considerable market growth during the forecast period, due to accelerated economic growth, growing government focus on the healthcare sector, rising prevalence of chronic diseases, the outbreak of COVID-19, investment from government bodies to expand healthcare facilities, and favorable regulatory reforms.

Key Findings Of Study

• By type, the Chemical & Gas Sterilization segment currently dominates the global sterilization technologies market and is expected to continue during the forecast period owing to their effectiveness in sterilizing the reusable medical instruments, surgical instruments, and other materials required for various microbial-safe environments.
• On the basis of end user, the medical devices segment dominated the global sterilization technologies market in 2020 and is anticipated to be dominant in the market owing to growing incidence of hospital-acquired infections (HAIs), and the rising number of surgical procedures propelling the growth of the medical devices industry.
• On the basis of region, in 2020, North America dominated the market in 2020, owing to growing demand for sterilization technologies from the healthcare industry to minimize the occurrence of HAIs, the increasing number of surgical procedures performed, and the presence of key players in the region are the major factors supporting the growth of the sterilization technologies market. However, Asia-Pacific region is expected to witness considerable market growth during the forecast period, due to accelerated economic growth, growing government focus on the healthcare sector, rising prevalence of chronic diseases, the outbreak of COVID-19, investment from government bodies to expand healthcare facilities, and favorable regulatory reforms.