Transparency Market Research, in its latest report, states that the global sterilization equipment and disinfectants market was worth $5.13 billion in 2012 and is forecast to grow to $9.15 billion by 2019, at a CAGR of 8.5%. The report, ‘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’ states that the market for sterilization equipment accounts for 70% of the total market and is projected to register the highest CAGR of 9.1% from 2013 to 2019.
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Segmenting the sterilization equipment industry into low temperature sterilization equipment, heat sterilization equipment, radiation sterilization, and filtration sterilization, the report on the sterilization equipment and disinfectants market estimates that low-temperature sterilization will be the fastest-growing segment, recording a 10.9% CAGR during the forecast period. Classifying the disinfectants market into two main types – oxidizing and non-oxidizing and low, intermediate and high level – the low, intermediate and high-level disinfectants segment is estimated to expand at the fastest CAGR of 7%. Medical devices application made up the largest share of the global sterilization equipment and disinfectants market, accounting for 60.8% of the overall industry. North America enjoyed 40% of the global industry in 2012, making it the largest regional market. On the other hand, the Asia-Pacific region is expected to grow at a 10.9% CAGR during 2013 to 2019, making it the fastest-growing geographic segment.
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The most important factor that fuels the growth of the global sterilization equipment and disinfectants market is the rise in ageing population across the world. As the geriatric population increases, so does the need for diagnosis and treatment of a wide range of illnesses. This in turn, leads to a rising demand for sterilization equipment and disinfectants. Moreover, the surge in hospital-acquired infections, higher number of surgeries performed as well as greater per capita healthcare expenditure has further propelled the market.
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A factor that is expected to bolster the growth of the industry is the widening patient base coupled with rise in disposable income in emerging countries.
In contrast, the rising popularity of disposable medical devices, strict government policies, and imposition of excise duty on manufacturers of medical devices is has stalled the growth of the global sterilization equipment and disinfectants market. The leading companies mentioned in the TMR research report on the global sterilization equipment and disinfectants market include Advanced Sterilization Products Services, Inc., 3M, Cantel Medical Corp., Belimed AG, Getinge Group, CISA Group, Matachana Group, and Kimberley-Clark Corporation.