Sterilization Equipment Market

STERIS (US) and Getinge AB (Sweden) are leading players in Sterilization Equipment Market

The sterilization equipment market is projected to reach USD 20.0 billion by 2026 from USD 13.8 million in 2021, at a CAGR of 7.7%. Market growth is largely driven by the rising incidence of hospital-acquired infections, growing number of surgical procedures, increasing focus on food sterilization and disinfection, growth in the pharmaceutical and biotechnology industries, and the increasing outsourcing of sterilization services.

On the other hand, end-user non-compliance with sterilization standards is a major challenge in this market.

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The global sterilization equipment market is fragmented. The top four companies in this market are STERIS (US), Getinge AB (Sweden), 3M (US), and Sotera Health (US). These players lead the market because of their extensive product portfolios and wide geographic presence.

STERIS PLC

STERIS has a strong portfolio of sterilization products & services. The company’s broad product portfolio is its key strength. STERIS markets an array of contract processing services using gamma irradiation, electron beam processing, and EtO technologies, along with a range of laboratory testing services. It also has a strong geographic presence across North America, Latin America, Europe, Asia, and the Middle East & Africa. The company derives most of its revenues from North America, specifically the US market. To further expand and maintain its leading market position, STERIS focuses on organic as well as inorganic strategies, such as product launches, acquisitions, and agreements. In June 2021, it acquired Cantel (US), one of the major providers of sterilization products.

GETINGE AB

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. In June 2018, the company became one of the suppliers of Karolinska Institutet, a medical university in Sweden, having one of Europe’s largest laboratories. It focuses on organic and inorganic growth strategies, such as product launches, agreements, and acquisitions, which enable it to further strengthen its market position. In the last three years, Getinge has launched a number of products, such as steam sterilizers and biological indicators. These products offer procedure efficiency and low-processing time, aiding the overall sterilization process. Getinge Group is likely to maintain its leading position in this market owing to its strong portfolio of sterilization equipment and continuous efforts to develop innovative products by actively investing in R&D.

Related Reports:

Sterilization Equipment Market by Product & Services (Instruments (Dry Heat), Services (Ethylene Oxide, Gamma, Steam), Consumables & Accessories (Sterilization Indicators), End User (Hospitals & Clinics, Pharmaceuticals) - Global Forecast to 2026

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Report Code
MD 2149
RI Published ON
9/20/2021
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