Sterilization Equipment Market to accumulate $2330 Mn by 2024

October 04, 2019

As per the latest study titled ‘Global Sterilization Equipment Market Growth 2019-2024’ available with Market Study Report LLC, the worldwide sterilization equipment market is predicted to reach US $2330 million by the year 2024.

The sterilization equipment is used for decontamination and sanitization across various industries such as pharmaceuticals, food-production facilities and healthcare. Increasing awareness among the general population regarding the need for sterile environment in medical facilities and laboratories, along with growing concerns for maintaining hygiene at food-manufacturing sites will fuel the demand for sterilization equipment.

Surging global economy, rising demand for equipment, and technological advancements in the field will propel the sterilization equipment market growth. However, prevailing gap between consumer demand & supply, and lack of high-end products is presumed to hamper the market growth to some extent over the analysis timeframe.  

Based on the product type, the sterilization equipment market is bifurcated as low temperature sterilization, and heat sterilization. While on the basis on application scope, the market is segmented as hospitals, pharmaceuticals, and others.

Speaking of the geographical landscape, the sterilization equipment market is fragmented into four major regions including Middle East & Africa, Europe, Americas, and Asia Pacific. Europe sterilization equipment market is known to hold 25.12% share every year as per the studied trend.

Moreover, China is reported to be the most potent market over the forecast period, owing to swift expansion of medical industry in the region. Other regions which are anticipated to witness significant sterilization equipment market growth are India, Southeast Asia, and Middle East.

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The key contenders of global sterilization equipment market comprise of Shenan Medical Instrument, Steris Corporation, Senoh Medical Equipment, GETINGE AB, Runyes, Tuttnauer, LOAKEN, Advanced Sterilization Products, SHINVA, Yamato, Telstar, 3M, Systec, Matachana Group, SAKURA, and MMM Group.

The report analyzes and overviews the consumption, production, and revenue share for different market segments. It also provides a comprehensive insight regarding the drivers, challenges, opportunities and trends impacting the sterilization equipment market.