There are several reasons why hospital ETO sterilizer demand is on the rise in the United States. First, hospitals and other healthcare facilities don’t have enough space to maintain a large inventory. Second, many hospitals and other care facilities don’t have the resources to stock such supplies. In addition, there is a learning curve associated with the new device. Consequently, hospital ETO sterilizer demand may be insufficient to meet the need.
Hospitals and clinics are the largest end-users of ethylene oxide. In 2017, they sterilized over 20 billion medical devices. In addition, they use the chemical to clean fabrics and personal care items. The compound is a versatile compound used for a wide range of applications. In the United States, ethylene oxide accounted for half of all medical supplies sterilized. The demand for hospital ETO sterilizers is expected to increase at an average CAGR of 8.1% over the next five years.
Government policy is another factor driving the growth of this market. The U.S. is a geriatric nation, with over 32% of the population over 50 years old. In addition, the country’s high percentage of geriatrics is prone to chronic diseases and is the reason why the demand for hospital ETO sterilizer is on the rise. And, as a result of this, the U.S. market is expected to grow at a 7.7% CAGR through 2024.
Despite this, hospitals have few options when it comes to reusing their medical devices. The EPA mandated that hospitals switch to single chamber units within a year, and a year later, that mandated that all hospitals switch over to HPGP. Those converting to HPGP will have greater throughput and minimal regulatory constraints. It is also more cost-effective and environmentally friendly. Further, HPGP sterilizers are becoming more popular in the U.S.
The growth of the medical device market in the U.S. is driven by several factors, including an increase in hospital ETO sterilization services and the prevalence of chronic diseases. The growing number of healthcare-associated infections is one of the top drivers of the market. The increase in the R&D activities of biopharmaceutical companies has spurred the need for hospital ETO sterilization. In addition to the increased demand for this product, the increase in the demand for healthcare-related infection prevention will drive the growth of this product in the future.
Growing healthcare expenditure has also fueled the growth of the hospital ETO sterilizer market in the United States. Moreover, the growing incidence of HAIs has led to a rise in the overall demand for ETO sterilization. In the USA, more than 8,000 hospitals will use an EO sterilizer in their daily routines by 2020. Increasing healthcare-related expenses is also driving the development of new EO stents.