Sterilization Equipment Market worth $20.0 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 27, 2022 -- Sterilization Equipment Market is projected to reach USD 20.0 billion by 2027 from USD 13.7 billion in 2022, at a CAGR of 7.9% during the forecast period. according to a new report by MarketsandMarkets™. The sterilization equipment market is driven by the rising incidence of hospital-acquired infections, increasing number of surgical procedures, and growing focus on food sterilization and disinfection. The increasing number of medical device and pharmaceutical companies in emerging economies and the rising of E beam sterilization to offer lucrative growth opportunities for the sterilization equipment market.
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The sterilization instruments accounted for the largest share of the sterilization equipment market, by product & service segment, in 2021
The global sterilization equipment market is segmented into sterilization instruments, sterilization services, and sterilization consumables & accessories based on product & service. Market growth is largely driven by the increasing emphasis on the need for proper sterilization measures specifically post the effect of COVID-19, coupled with a rise in the number of surgical procedures.
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The hospitals & clinics segment accounted for the largest share of the sterilization equipment market, by end user, in 2021
On the basis of end user, the sterilization equipment market is segmented into hospitals & clinics, pharmaceutical companies, medical device companies, food & beverage companies, and other end users. The rise in the occurrence of chronic and infectious diseases has led to significant growth of the hospitals & clinics end user segment.
North America is the largest regional market for sterilization equipment market
The global sterilization equipment market has been segmented into five major regions—North America, Europe, the Asia Pacific, Middle East & Africa, and Latin America. In 2021, North America dominated the global sterilization equipment market in 2021. The large share of the North American market is primarily driven by the rising prevalence of infectious diseases and the presence of key players operating in the sterilization equipment market.
The major players operating in this market are STERIS Corporation (US), Getinge AB (Sweden), and Sotera Health (US).
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Browse Adjacent Market: Medical Devices Market Research Reports & Consulting
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