Global Sterilization Equipment and Disinfectant Market – Snapshot
Sterilization equipment and disinfectants are essential procedures for infection control in healthcare facilities such as hospitals, clinics, and laboratories. In terms of revenue, the global sterilization equipment and disinfectant market was valued at above US$ 4,400 Mn in 2017 and is anticipated to reach US$ 6,500 Mn in 2026, expanding at a CAGR of 4.5% from 2018 to 2026. Increase in hospital-acquired infections has compelled medical professionals to take stringent regulatory actions in order to cure these infections with the usage of various sterilization equipment and disinfectants. This factor is anticipated to propel the sterilization equipment and disinfectants market during the forecast period.
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Globalization leads to the outbreak of several diseases, and some of them are lead to surgery. According to the annual plastic surgery procedural statistics, there were almost 15.9 million surgical and minimally-invasive cosmetic procedures performed in the U.S, in 2015, a 2% increase over 2014. This increasing number of surgeries is creating a demand for more sterilization of equipment in order to prevent any microbial infection. A large number of global manufacturers are putting constant efforts to develop and manufacture novel equipment so that the customer can carry out the sterilization process more effectively and smoothly. Demand for low temperature sterilization for moist and heat-sensitive equipment is rising. Key players are focusing on the development of new sterilization equipment and disinfectants with better efficacy. For instance, Becton, Dickinson and Company launched the Genesis, a low temperature rigid sterilization container system, which provides long-lasting protection and sterility maintenance for surgical instrumentation. These key developments are likely to augment the global sterilization equipment and disinfectant market in the near future. However, high price of sterilization equipment and increasing demand for disposable devices are likely to restrain the global sterilization equipment and disinfectant market during the forecast period.
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The global sterilization equipment and disinfectant market has been segmented based on method, disinfectant type, end-user and region. In terms of method, the heat sterilization segment is projected to dominate the market. However, the segment is expected to lose market share during the forecast period, due to fewer opportunities for new entrants in the segment. Moreover, the heat sterilization method is not suitable for heat and moist sensitive equipment, the sterilization process damages the equipment.
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