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According to the latest report by Meticulous Research®, the global sterilization equipment market is expected to reach a value of $30.71 billion by 2031, growing at a robust compound annual growth rate (CAGR) of 8.3% from 2024 to 2031. Key factors driving this growth include the rising incidence of hospital-acquired infections, increasing surgical procedures, and the growing need for sterilization in the food industry to prevent food-borne illnesses. Emerging opportunities include the rising adoption of e-beam sterilization, increasing demand for sterilization products in developing regions, and the growing use of supercritical CO2 sterilization technology in the medical device sector.
Market Dynamics and Challenges
Despite a strong growth outlook, the market faces challenges such as non-compliance with sterilization standards in healthcare and concerns over the safety of ethylene oxide and reprocessed instruments, which may hinder market expansion.
Key Players
Leading companies in the sterilization equipment market include STERIS plc. (U.S.), Getinge AB (Sweden), 3M Company (U.S.), Advanced Sterilization Products (U.S.), and Sotera Health (U.S.).
Market Segmentation
The report segments the market by equipment (heat/steam, low-temperature, radiation, and filtration sterilization), services (ethylene oxide, gamma, e-beam, steam), and consumables (sterilization indicators, pouches). It also covers key end users like hospitals, medical device companies, and the food industry.
Geographic Analysis
North America is expected to lead the market in 2024, supported by increasing healthcare expenditure, aging populations, and a rise in chronic diseases. The region is also bolstered by government initiatives to minimize hospital-acquired infections.
Conclusion
With technology advancements and broader industry applications, the sterilization equipment market is poised for significant expansion, offering opportunities for growth despite regulatory and safety challenges.
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