In 2021, Hospital Segment is expected to dominate the Medical Device Sterilization Market because of the Surge in Surgeries across the Globe

It is mandatory for medical devices to be sterilized in accordance with internationally agreed upon voluntary consensus standards recognized by FDA. Food and Drug Administration has been considering a master file pilot program for premarket approval (PMA) holders, especially whose approved devices are sterilized with the use of radiations, such as gamma radiation.

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Data Bridge Market Research analyses that the medical device sterilization market is expected to grow at a CAGR of 8.3% in the forecast period of 2021 to 2028 and is expected to reach USD 7,665.99 million by 2028. The rise in prevalence of chronic diseases is escalating the growth of medical device sterilization market.

Surge in Number of Surgeries is expected to drive the market's growth rate

Surgery is considered an essential and fundamental parameter for managing various health conditions, such as malignancy, injuries, obstructed labor, and cardiovascular diseases, among others of a functioning health system. According to various healthcare organizations, surgery is the preeminent parameter during numerous treatments. The requirement of surgical procedures has increased worldwide, according to the incidence and prevalence of the diseases. The number of surgeries are medical and technological advancements, including developments in surgical procedures.

Report Scope and Market Segmentation

Segment Analysis:

The advanced wound care 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. In 2021, instruments segment is expected to dominate the market with 51.02% market share due to increasing prevalence of chronic diseases.

In 2021, the thermal sterilization segment is expected to account for the largest share of technology segment in the medical device sterilization market

The thermal sterilization segment holds maximum market share in 2021 owing to escalating number of surgeries. The thermal sterilization segment is growing with a CAGR of 8.5% in the forecast period of 2021 to 2028. This surge in the healthcare expenditure also accelerate the growth of the respective segment.

• 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. In 2021, hospitals segment is expected to dominate the market with 36.50% market share because of rising demand of sterilizers in the hospitals.
• On the basis of distribution channel, the global medical device sterilization market is segmented into direct sales, retail sales and third party distributor. In 2021, direct sales segment is expected to dominate the market with 57.31% market share because of rising pool of geriatric population.

Major Players

Data Bridge Market Research recognizes the following companies as the major analytical laboratory services market players in medical device sterilization market Getinge AB (Sweden), Cardinal Health (US), STERIS (US), 3M (US), Biobase Biodusty (Shandong), Co., Ltd. (China), Midmark Corporation (US), Merck KGaA (Germany), Dentsply Sirona (US), MATACHANA GROUP (Spain), W & H Dentalwerk Bürmoos GmbH (Austria), SciCan Ltd. (Canada), MELAG Medizintechnik GmbH & Co. KG (Germany), MMM Group (Germany), Sterigenics U.S., LLC (US), ASP (US), Tuttnauer (Netherlands), Steelco S.p.A. (Italy), Belimed AG (Switzerland), and Systec GmbH (Germany), among others among others.

Market Developments

• In December 2020, STERIS announced the global launch of Spordex Self-Contained Biological Indicator (SCBI) Ampoules to confirm sterilization of liquids in steam autoclave cycles. This product launch has created a constant revenue stream for the company
• In April 2020, STERIS’s VHP LTS-V Low Temperature Sterilizer has recently received another FDA approval for a Customer application. The STERIS VHP LTS-V Low Temperature Sterilizer has continued to be a proven, regulatory acceptable, and a reliable method for low temperature sterilization, fulfilling ISO 14937 requirements. This approval has helped the company in increasing its revenue further, thus boosting the market growth
• In October 2020, Steelco announced the launch of a range of Steelco low temperature sterilizers has grown with a new compact model. This product launch by the company has increased the company's product portfolio, leading to increased sales and demand for its products in the future
• In May 2021, Sartorius expanded production capacities for products for the purification of vaccines and therapeutics in Slovenia. This expansion increased the company’s credibility in the market thereby increasing revenue generation

Regional Analysis

Geographically, the countries covered in the medical device sterilization market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in medical device sterilization market during the forecast period

North America dominated the medical device sterilization market due to the region's prevalence of chronic diseases. North America will continue to dominate the analytical laboratory services market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the surge in the investments in the region.

Asia-Pacific is estimated to be the fastest growing region in analytical laboratory services market

Asia-Pacific is expected to grow during the forecast period of 2021 to 2028 due to the escalation in the number of surgeries. In addition to this, growing medical tourism in the region.

COVID-19 Impact Analysis

COVID-19 had a limited impact on the medical device sterilization market. Both public and government sectors suffered greatly due to the facing financial crises during the outbreak of COVID-19. Businesses were shut down in numerous countries because of the social distancing guidelines and the imposition of lockdown. The medical device sterilization market adversely affected by due to the low availability of raw materials. However, government bodies increased the support vaccine development due to the pandemic's economic and social burden. The initiatives taken by government led to an increase in the adoption of pyrogen testing products for COVID-19 research. The vaccine manufacturing increased owing to the outbreak of COVID-19. Bacterial endotoxin testing is considered an important quality assurance measure for ensuring the safety of patients. . The medical device sterilization market is expected to witness healthy growth in post-pandemic as well owing to its application in combating various other factors epidemics in the future.

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