Sterilization equipment market to accumulate heavy returns from the rising number of minimally invasive surgeries, U.S. to be a pivotal revenue pocket over 2018-2024
Publisher : Fractovia | Published Date : 2018-08-31Request Sample
Sterilization equipment market has traversed new horizons lately, with Getinge, a global leader in innovative medical technology provider, announced the launch of the new 9100E Cart Washer. Apparently, this product has been specially designed to address the need of washing and disinfecting more bulky items like transport trolleys, operating tables and instrument containers. The fact that the introduction of the 9100 Cart Washer has been welcomed by the medical community underlines the need of a product that can accommodate items a traditional washer and disinfector cannot.
Japan Sterilization Equipment Market size, By Product, 2013 – 2024, (USD Million)
The significance of proper sterilization in the healthcare industry which is being bombarded with problems such as a growing geriatric population, hospital acquired infections and a rising number of surgical procedures has added a commendable impetus to sterilization equipment market. Experts depict that approximately 15% to 30% of hospital-acquired infections (HAIs) can be prevented with the proper decontamination of equipment. The use of superior sterilization equipment and more frequent decontamination cycles would provide a major scope for research and development in the sterilization equipment industry over 2018-2024. Reliable evidence pointing toward the fact that viruses like the vCJD and the spongiform viruses can spread through unsterilized equipment has further fueled the growth trends of sterilization equipment market.
Rising awareness in the healthcare industry about the indispensability of employing proper sterilization equipment, standardization of norms that hospitals are striving to meet, and improved infection control measures have been major factors responsible for the expansion of sterilization equipment market. According to data collated by WHO and the World Bank, though high income countries have a lower share in the global population, the number of surgeries in such nations far surpass that of middle and low income countries. It does not come as a surprise therefore, that the USA contributed to the largest revenue of $1,975.2 million in the sterilization equipment market in 2017 and is anticipated to generate quite some remuneration in the years ahead.
Minimally invasive procedures are becoming more in vogue and the demand to sterilize sophisticated and intricate modern equipment is expected to add new growth avenues to the sterilization equipment market. According to statistics by the ASPS, more than 17 million surgical and minimally-invasive cosmetic procedures were performed in the United States alone in the year 2016. The rising popularity of these procedures is likely to drive the regional sterilization equipment industry.
Despite the onset of newer methodologies, one of the oldest methods of sterilization – steam sterilization, still stands as one of the most popular methods of this industry. Among the various methods of equipment sterilization, pressurized saturated steam or moist heat sterilization is the most dependable and widely used form. Considering the inexpensive, nontoxic, sporicidal, rapidly microbicidal and rapidly fabric heating and penetrating nature of steam sterilization, it comes as no surprise that it has gained commendable popularity across the healthcare cosmos.
As sterilization equipment industry continues to gain maturity, markets for central sterilization equipment are likely to become relatively stagnant due to longer replacement periods. However, the niche markets are expected to carve out new growth avenues by customizing products and services that meet the demand from end-use sectors such as dentists, ambulatory surgical centers and private clinics.
Sterilization equipment market outlook is characterized by widespread market consolidation and presence of a large number of established participants. The industry expanse seems to be challenging for the new entrants due to high entry barriers and risks unless they can bring to the market some exceptionally innovative products. Some of the prominent players in the sterilization equipment industry include 3M, Getinge, TSO3, Advanced Sterilization Products Services, Celitron, Matachana etc.
New companies, striving to meet the challenge of strong competition are now turning to untapped markets. For instance, eastern Europe has received relatively less focus from infection control agencies and has also witnessed less than sufficient thrust towards technology advancement, on the grounds of which it has now become a pivotal target for startups in this industry. With notable participants entering strategic alliances to design products for niche segments, the global sterilization equipment market is anticipated to chart out a highly profitable growth graph over 2018-2024.
