According to a new market report published by Transparency Market Research "Sterilization Equipment and Disinfectants Market (By Sterilization Equipment Type -Heat Sterilization, Low Temperature Sterilization, Filtration Sterilization and Radiation Sterilization,By Disinfectants Type-Low, Intermediate and High level and Oxidizing and Non-Oxidizing and By Applications- Medical Devices, Pharmaceuticals and Life-Sciences) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,"in 2012, the global Sterilization Equipment and Disinfectants marketwas valued at USD 5.13 billion and is expected to grow at a CAGR of 8.5% during the forecast period 2013 to 2019 to reach a market value of USD 9.15 billion by 2019.
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Sterilization equipment and disinfectants are utilized to sterile various medical instruments, laboratory equipment and pharmaceutical components. Sterilization and disinfectants are a vital component for infection-control as medical devices require sterilization and disinfection after usage, since they get contaminated. The global market for sterilization equipment and disinfectants has been estimated to grow at the rate of 8.5% during the forecast period 2013 to 2019. Rising geriatric population is one of the primary factor for the growth of this market as they usually suffer from various diseases that leads to the need for diagnosis and treatment.In addition, increasing number of surgeries performed and per capita healthcare expenditure coupled with rising incidences of nosocomial infections (hospital-acquired infections) will propel the demand of sterilization equipment and disinfectants market.
The report describes the usage and types of sterilization equipment and disinfectants, amongst which sterilization equipment market accounted for the largest share (over 70%) of the total market in terms of revenue. Sterilization equipment market is expected to grow at the highest CAGR of 9.1% during the forecast period 2013 to 2019. This growth is attributed to their wide application area and user-friendly nature. In addition, they are safer to utilize as compared todisinfectants.
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The sterilization equipment market has been further segmented as heat sterilization equipment, low temperature sterilization equipment, filtration sterilization and radiation sterilization. Low temperature sterilization equipment market is expected to grow at the highest CAGR of 10.9% during the forecast period 2013 to 2019. This growth is attributed to the increasing number of low temperature sterilization equipment manufacturers. Also, these equipment are efficient in sterilizing devices precisely with less time consumption.
The market for disinfectants has been segmented as low, intermediate and high level and oxidizing and non-oxidizing disinfectants. Low, intermediate and high level disinfectants market is expected to grow at the highest CAGR of 7.0% during the forecast period 2013 to 2019. This is due to the presence of large number of companies manufacturing theseparticular disinfectants. Also, the application area is wider unlike oxidizing and non-oxidizing disinfectants whose scope is limited to the pharmaceutical sector.
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Sterilization equipment and disinfectants are utilized in three major application areas namely medical devices, life-sciences and pharmaceutical companies. The market for sterilization equipment and disinfectants in medical devices application accounted for the largest share (60.8%) of the total market in 2012 and is expected to grow at the highest CAGR during the forecast period. This growth is attributed due to rising incidences of hospital-acquired infections and increase in the number of surgeries performed.
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The North American region accounted for the largest share in terms of revenue of the total market for sterilization equipment and disinfectants. This large market is due to increasing geriatric population. Also, the major players of the market are based here.
The global sterilization equipment and disinfectants market is ruled by players such as STERIS Corporation, Getinge Group, Advanced Sterilization Products Services, Inc., 3M and Belimed, Inc. These companies together accounted for around 70% of the total market revenue in 2012. Some other important players operating in the market include Cantel Medical, Nordion, Inc., Synergy Health plc, SAKURA SI CO., LTD., CISA Group and TSO3, Inc.