Sterilization Equipment Market Size, Share, Growth Analysis, By Product(ethylene oxide sterilization services, Gamma radiation sterilization services, Steam sterilization services, and X-Ray services), By Services(Hospitals and clinics, Biotechnology and pharmaceutical companies, Medical device companies, Food and beverage industry and others), By Region - Industry Forecast 2024-2031

Sterilization Equipment Market size was valued at USD 6.92 billion in 2022 and is poised to grow from USD 7.25 billion in 2023 to USD 10.55 billion by 2031, at a CAGR of 4.8% during the forecast period (2024-2031).

The sterilization equipment market is projected to grow significantly over the next few years as a result of increasing numbers of surgical procedures, an increasing incidence of hospital-acquired infections, and initiatives taken by the government to ensure the adoption of sterilization standards in hospitals and research facilities. The sterilization equipment market is full of many and regional vendors. The market is highly competitive, with many companies fighting for a share of the market. 'Steris Corporation', 'Getinge AB', '3M Company', 'Belimed AG', 'Matachana Group', 'MMM Group', 'Cantel Medical Corp.', 'Advanced Sterilization Products (ASP)', 'STERIZON LLC', 'Johnson & Johnson', 'Sotera Health', 'Tuttnauer', 'MELAG Medizintechnik GmbH & Co. KG', 'Sterigenics International LLC', 'B. Braun Melsungen AG', 'Beta Star Life Science Equipment', 'Anderson Products Inc.', 'E-Beam Services, Inc.', 'CISA Group', 'Consolidated Sterilizer Systems', 'In March 2024, Little Rock-based BioMedical Solutions announced its acquisition of the assets of Alfa Medical Equipment, operating under the name Sterilizers.com. The announcement comes shortly after its recent acquisition of Booth Medical Equipment.  ', 'In January 2024, Allentown, LLC, a portfolio company of Aterian Investment Partners, acquired Branchburg, New Jersey-based ClorDiSys Solutions, Inc, a provider of chlorine-dioxide based solutions for sterilizing and decontaminating vivariums, laboratory equipments and medical devices. ', 'In June 2023, Japanese analytical instrumentation company Shimadzu Corporation teamed up with US-based artificial intelligence (AI) and robotics expert Shyld to spearhead an AI-enhanced ultraviolet irradiation C (UV-C) disinfection technology. ', 'In February 2022, Centerpiece, a leading medical device contract sterilization and manufacturing firm, is planning to expand its ethylene oxide sterilization capacity. This will allow the company to perform even more sterilization work on medical devices, ensuring that they are safe and effective. The enhanced processing capacity will help the firm achieve sterilization throughput of almost 50,000 pallets per year. ', 'In March 2022, Datasea Inc. has introduced the Ultrasonic Sound Sterilization and Antivirus Equipment that targets various applications and is planning to foray into the US market with a series of acoustic intelligence products. The Ultrasonic Sound Sterilization and Antivirus Equipment has advanced acoustic intelligence-powered disinfection that helps purify air, bring down viruses like COVID-19 and H1N1 as well as bacteria.'

Developing surgical procedures and growing incidence of hospital acquired infections. According to the WHO estimates, in 2012, the total volume of operations was about 312.9 million operations. This was an increase of 38.2% from an estimated 226.4 million operations in 2004. Sterilization equipment is in high demand as the number of surgical procedures grows.  The rising incidence of hospital-acquired infections (HAIs) promotes the growth of the market.  The Centers for Disease Control and Prevention estimates that approximately 687,000 hospital-acquired infections were reported in the US acute care hospitals in 2015. About 72,000 hospital patients with HAIs died during their hospitalizations

New product launch and collaboration for optimization of the production process Companies are focusing more on research & development to introduce better preventive and safety options, which provide them an edge over their competitors. They are introducing new products and with advanced features. Consumers are becoming more conscious and aware of the issues related to health and hygiene.

North America dominated the market and accounted for over 35.6% share of revenue in 2021. The large market share of the region can be attributed to favorable refund policies and the rising prevalence of hospital-acquired infections. Hospitals and clinics must comply with strict healthcare regulations, such as the Patient Protection and Affordable Care Act, which instruct the use of sterilization equipment. This is expected to prompt market growth over the next few years.