Market for Hospital Sterilizer is dominated by hospitals and pharmaceutical companies. Other end-users include food and beverage companies and clinical laboratories. Globally the hospital segment accounted for the majority of the market in 2022 and is expected to retain its position throughout the forecast period.
What is Driving the Market for Hospital Sterilizers?
Infection-control technologies are increasingly essential to the survival of patients. Increasing levels of COVID-related illness worldwide have increased the need for advanced medical facilities and infection-control measures. As more people seek treatment for illness-related conditions in hospitals, government bodies in many countries are stepping up their healthcare infrastructure in order to combat any outbreaks. The increasing need for such equipment is reflected in improved reimbursement policies.
Global Market Growth for Hospital Sterilizers
- The global hospital-acquired infection control market is expected to reach USD 31.3 billion by 2026, expanding at a 1.5% CAGR during the forecast period. The market is expected to grow due to the high incidence of infection-causing microorganisms, increasing number of surgical procedures, and growing geriatric population. Additionally, technological advances in sterilization equipment will contribute to growth.
- The global infection control market is segmented by product, end-use, and geography. Infection-control products and services in Africa are expected to grow at a 6.5% CAGR during the forecast period (2017-2026).
- The market for hospital sterilization equipment is growing with increasing healthcare expenditure across the Middle East and Africa. Rising rates of hospital-acquired infections (HAIs) and geriatric population are driving demand for sterilization equipment. Increasing investments in healthcare infrastructure are also expected to drive the market.
- Currently, the US Hospital Sterilization Equipment market is estimated at USD million in the year 2022 and is projected to expand at a CAGR of % over the same period. China and Germany together make up a significant percentage of the market, and both are expected to grow at a rapid pace over the next five years. South Korea and Japan are also expected to show a good growth rate in the coming years.
- The market for sterilization equipment in Europe is driven by strict regulations for the use of medical devices. Other driving factors include rising geriatric population and growing food and beverage industry. Rising cases of hospital-acquired infections such as COVID-19, increased investment in healthcare infrastructure, and an aging population.
The Bottom Line
As they aid in minimizing the transmission of infections and illnesses, sterilization equipment is necessary for the sterilization and cleansing of various medical equipment. The prevalence of chronic illnesses including diabetes, tumours, and other autoimmune disorders is expected to rise, which would raise the demand for sterilizing equipment.