STERIS Corporation (US) and Getinge AB (Sweden) are Leading Players in the Sterilization Equipment Market
The global sterilization equipment market is projected to reach USD 20.0 billion by 2027 from USD 13.7 billion in 2022, at a CAGR of 7.9% during the forecast period. The sterilization equipment market is driven by the rising incidence of hospital-acquired infections (HAIs) and increasing outsourcing of sterilization services among pharmaceutical companies, hospitals, and medical device manufacturers.
The top players in this market are STERIS Corporation (US), Getinge AB (Sweden), and Sotera Health (US). These players lead the market because of their extensive product portfolios. These players have also invested in organic strategies such as expansions, product launches, agreements, and partnerships to maintain their market shares.
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STERIS Corporation (US) was the largest player in 2021, with a share of 15-20%. STERIS has a promising portfolio that includes sterilization products & services. The company’s vast product portfolio is its key strength. STERIS also offers a diverse range of contract processing services electron beam processing, utilizing gamma irradiation, and EtO technologies, along with various laboratory testing services. Moreover, the company has a strong geographic presence across the globe, with most of its revenues obtained from North America, specifically the US. The company has undertaken certain path-breaking developments, which have helped it gain a strong position in the market. For instance, In June 2021, it acquired Cantel (US), one of the major providers of sterilization products.
Getinge AB (Sweden) held the second position in the sterilization equipment market, with a share of 5-10% in 2021. Getinge generates a majority of its revenue from the developed regions of North America and Europe. The company has a diversified consumer base that includes hospitals, medical device & pharmaceutical companies, and universities. Getinge focuses on organic and inorganic growth strategies, such as product launches, agreements, and acquisitions, which help it to further strengthen and maintain its market position. In the previous three years, Getinge has introduced a number of products, such as steam sterilizers and biological indicators.
Sotera Health (US) held the third largest share of 4.5-5.0% of the sterilization equipment market in 2021. Sotera Health has a strong service portfolio, which includes services such as gamma irradiation services, EO processing services, electron beam (E-beam) irradiation services, and X-ray irradiation services. It has 23 facilities offering gamma irradiation services, 17 facilities providing EO processing services, and eight facilities offering electron beam (E-beam) irradiation services. The company is among the leaders in the North American market as it generates most of its revenue from the US, followed by Canada.
Related Reports:
Sterilization Equipment Market by Product & Service (Instruments (Dry Heat, Ethylene Oxide), Consumables & Accessories (Indicators, Pouches), Services (Ethylene Oxide, Steam)), End User (Hospitals & Clinics, Pharmaceuticals) - Global Forecasts to 2027
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