Sterilization Technology Market to Surpass $17,313.7 Million Value by 2030

The global sterilization technology market is projected to generate $17,313.7 million revenue by 2030, advancing at a CAGR of 7.1% during 2021–2030. The key factors driving the market include the rising incidence of HAIs, increasing number of surgeries, and growing demand for sterile pharmaceutical products.

Further, due to the enormous need for hospital beds, intensive care units, and isolation facilities and the rising consumer awareness of sterilized medical products, especially single-use items, COVID-19 has had a positive effect on the sterilization technology industry.

Medical Devices Held Larger Share

Medical devices held the larger share, of more than 55%, in 2021. The growing aging population and increasing number of surgeries have spurred the need for advanced invasive devices, which fuels the demand for sterilization technology. Sterilizing medical devices prevents the spread of nosocomial infections to patients. These infections may require surgery upon detection and lead to further complications, which is why stopping their spread at the source saves healthcare costs as well as the time for everyone.

Moreover, pharmaceutical devices will grow at the higher CAGR during the forecast period. Pharmaceutical sterilization is required for disposables, prescription pharmaceuticals, ointments, and the products used in the manufacturing of drugs, as they can have a direct negative impact on the health of persons if they are not sterilized.

Moreover, hospitals hold a significant share in the market as they require a completely sterile environment to protect patients from pathogenic contamination. Many times, hospitals use ozone gas, which destroys organic and inorganic matter. A generator converts oxygen, taken from a source within the hospital, to ozone, to reduce the bacterial load inside the premises. There are a number of such infections that a patient can catch during their stay in the hospital; they can be eliminated by performing proper sterilization. These infections are caused due to contaminated surgical instruments or improper staff hygiene, thus performing cleaning, disinfection, and, finally, sterilization becomes necessary.

APAC will witness the fastest growth during the forecast period. This is owed to the increasing disease awareness, rising medical tourism activities, bettering healthcare infrastructure, and international medical device and pharma & biotech companies’ growing network of production facilities.

Moreover, Europe held the second-largest share in the market. The growth in the European sterilization technology market is mainly led by the increasing incidence of HAIs, outsourcing of sterilization operations, and rising number of surgeries in the region. Further, the elderly population requires proper care due to being more prone to illnesses; therefore, the rising geriatric population has been generating a high demand for advanced treatments, including complex minimally invasive devices, to reduce surgical time. However, these complex devices are associated with difficulties in sterilization. As a result, hospitals and surgical centers in Europe are inclined toward outsourcing the sterilization services, to ensure better compliance with infection control standards.

The major players operating in the sterilization technology market include STERIS plc, 3M Company, Stryker Corporation, Getinge AB, Cardinal Health Inc., Sotera Health, and Fortive Corporation.