According to FutureWise analysis the market for sterilization equipment in 2023 is US$ 14.81 billion, and is expected to reach US$ 27.66 billion by 2031 at a CAGR of 8.1%.
The growing number of surgical procedures as well as ageing population count as some of the major reasons for the growth of the global sterilization equipment. Furthermore, the rise in the cases of chronic diseases and various other government programs to undertake measures of essential sterilization standards in hospital settings and research centres alike, are factors which are predicted to boost the growth of the sterilization equipment industry during the forecast period. The government sector has pushed for strict medical procedures and infection control norms in an effort to increase public awareness of the epidemics of the population as well as HIV and Ebola. The market is also experiencing a trend in which there is a greater demand for food supply. Due to the integration of exotic foods and vegetables, many rigorous norms have been enacted to ensure the products meet the safety standards. Technologies such as gamma irradiation and low-temperature are used for sterilization methods in the food industry. As a result, the use of such methods is what propels the growth of sterilization equipment in the food processing industry.
According to the type, the market is divided into sterilization instruments. These sterilization instruments, also contain many sub-divisions which are heat sterilization or low-temperature sterilization, high-temperature sterilization, filtration and ionizing radiation. The high or heat sterilization temperature has been sub-segmented dry heat and autoclave or moist heat.
This sub-segmentation of the autoclave or moist heat has further sub-divisions which are vertical autoclave, benchtop autoclave, portable autoclave, floor-standing autoclave, vertical mobile autoclave.
In the case of the dry heat, it is even more segmented into benchtop hot air oven. The low-temperature sterilization is further sub-segmented as ozone-based, ethylene oxide, nitrogen dioxide, vapour hydrogen peroxide along with other low-temperature sterilization. With ionizing radiation, it has been divided once again into gamma, E-bean and X-ray. In the case of the technology, the market is divided into steam, vacuum, gravity, natural convention and forced convention. As per the end user, the market has been categorized into medical device companies, food
beverage companies, pharmaceutical companies and other end users. To add to this, end users are further sub-divided into clinics as well as educational institutes.