Medical device sterilization ensures patient safety and prevents infections. Sterilization eliminates microorganisms, including bacteria and viruses, from medical devices, reducing the risk of contamination during use. This process is essential to meet regulatory standards and guidelines, safeguarding both healthcare professionals and patients. Proper sterilization helps maintain the efficacy of medical devices and promotes successful outcomes in various medical procedures. It is a fundamental step in healthcare practices to prevent the spread of infections and uphold the integrity of medical equipment.
According to Data Bridge Market Research analyses the Global Medical Device Sterilization Market which was USD 10,860.30 million in 2022, is expected to reach USD 16,928.62 million by 2030, and is expected to undergo a CAGR of 7.68% during the forecast period of 2023 to 2030.
"Rise in technological advancements boosts the market growth"
The global medical device sterilization market is experiencing robust growth, propelled by significant technological advancements in sterilization methods. Innovations such as ethylene oxide sterilization, gamma sterilization, hydrogen peroxide sterilization, and low-temperature sterilization have greatly improved the efficiency of medical device sterilization. These advancements not only enhance the sterilization process but also drive increased adoption of sterilization services and products. Consequently, the global market is witnessing accelerated growth, fueled by the growing demand for advanced and more effective sterilization solutions in the medical device industry.
What restraints the growth of the global medical device sterilization market?
“High costs hamper the market growth”
The global medical device sterilization market faces a significant restraint due to the high costs associated with implementing and maintaining sterilization processes. This poses a particular challenge for small and medium-sized enterprises (SMEs) and companies operating in developing regions, limiting their ability to invest in necessary sterilization equipment. The financial burden of these processes acts as a deterrent, impeding market growth and accessibility for a broad range of healthcare entities.
Segmentation: Global Medical Device Sterilization Market
The global medical device sterilization market is segmented on the basis of product, technology, end-user, and distribution channel.
- On the basis of product, the global medical device sterilization market is segmented into instruments, reagents, and services
- On the basis of technology, the global medical device sterilization market is segmented into thermal sterilization, ionizing radiation sterilization, filtration sterilization, and gas and chemical sterilization
- On the basis of end-user, the global medical device sterilization market is segmented into pharmaceutical companies, hospitals, clinics, laboratories, academic, and research institutes, medical device manufacturers, and others
- On the basis of distribution channel, the global medical device sterilization market is segmented into direct tenders, retail sales, and third-party distributor
Regional Insights: North America dominates the Global Medical Device Sterilization Market
North America dominates the global medical device sterilization market and is driven by a confluence of factors. The region's dominance is underscored by the presence of major industry players, a population with high disposable income, and substantial healthcare expenditure. This economic robustness facilitates widespread access to advanced medical devices, thereby increasing the demand for effective sterilization services. The region's commitment to a well-developed healthcare sector is evident in the seamless integration of cutting-edge sterilization technologies, emphasizing the paramount importance of stringent standards for patient safety.
The Asia-Pacific is expected to experience significant growth during the forecast period from 2023 to 2030. This growth is attributed to the region's increasing focus on research and development activities in the healthcare sector, fostering innovation in medical device technologies. Rising investments in healthcare infrastructure, driven by a growing middle-class population with enhanced purchasing power, are driving demand for advanced medical devices and, consequently, effective sterilization methods.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-medical-device-sterilization-market
Recent Developments in Global Medical Device Sterilization Market
- In May 2023, 3M strengthens its commitment to climate tech solutions, collaborating with Svante Technologies, Inc., to develop materials capable of trapping and permanently removing atmospheric carbon dioxide (CO2)
- In June 2023 marks the successful conclusion of Merck's acquisition of Prometheus Biosciences, Inc. ("Prometheus"), solidifying Prometheus as a wholly-owned subsidiary of Merck, with its common stock delisted from the Nasdaq global market
The Prominent Key Players Operating in the Global Medical Device Sterilization Market Include:
- STERIS (U.S.)
- Getinge AB (Sweden)
- 3M (U.S.)
- Sotera Health (U.S.)
- Fortive (U.S.)
- Cardinal Health (U.S.)
- Metall Zug AG (Switzerland)
- Stryker (U.S.)
- Merck KGaA (Germany)
- MMM Group (Germany)
- MATACHANA GROUP (Spain)
- Tuttnauer (Netherlands)
- Andersen Sterilizers (U.S.)
- Steelco S.p.A. (Italy)
- Noxilizer, Inc. (U.S.)
- DE LAMA S.P.A. (Italy)
- Cosmed Group (U.S.)
- C.B.M. S.r.l. Medical Equipment (Italy)
- E-BEAM Services, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global medical device sterilization market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Medical Device Sterilization Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
