Sterilization Equipment Market is Expected to Reach $6.1 Billion by 2020

According to a new market research report, "Sterilization Equipment Market by Product (Moist Heat, Dry Heat, Ethylene Oxide, Filtration, E-beam, Gamma), Services (Onsite & Offsite), Consumables (Indicators, Detergents, Pouches) & End User (Hospitals, Pharmaceuticals) - Global Forecast to 2020," published by MarketsandMarkets, the sterilization equipment market is expected to reach around $6.1 billion by 2020, at a CAGR of 7.6 percent from 2015 to 2020.

On the basis of type, the sterilization equipment market is segmented into heat sterilization/high-temperature sterilization, low-temperature sterilization, ionizing radiation sterilization, and filtration sterilization. The heat sterilization/high-temperature sterilization segment is expected to account for the largest share of the global sterilization equipment market in 2015. Governments in various countries are taking regulatory actions to fortify hospitals with essential sterilization standards and prevent infections, which is a major driving factor for this market.

The sterilization equipment market, by product and service, is segmented into equipment, consumables and accessories, and contract sterilization services. The consumables and accessories segment is poised to be the fastest-growing segment during the forecast period. The contract sterilization services market, by site of sterilization, is segmented into offsite sterilization and onsite sterilization. The offsite segment is expected to be the largest segment of the contract sterilization services market in 2015.

Geographically, the sterilization equipment market was dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). In 2015, North America accounted for the largest share of the market, while Asia witnessed the highest growth rate.

Major players in the sterilization equipment market include are STERIS Corporation (U.S.), Getinge Group (Sweden), Advanced Sterilization Products (U.S.), 3M Company (U.S.), Belimed AG (Switzerland), Cantel Medical Corporation (U.S.), Synergy Health (U.K.), Matachana Group (S.A.), MMM Group (Germany), and Sterigenics International, Inc. (U.S.).

Source: MarketsandMarkets