The growing elderly population, an increasing number of surgical activities and growing research and development activities in the healthcare industry are the key factors propelling the growth of the worldwide sterilization equipment market.
For example, Cantel Medical announced in August 2018, the acquisition of Stericycle's Controlled Environmental Solutions Business for USD 17 million.
It is a key provider of certification and testing, decontamination services for clean rooms, environmental monitoring, and other services associated with quality control and regulatory compliance.The increasing costs linked with surgeries, severe regulatory framework for product approval, and lack of cognizance about sterilization techniques are likely to hamper the Sterilization equipment market growth over the forecast period.Sterilization Equipment Market SegmentationThe worldwide sterilization equipment market has been segmented based on technology, end-user, and product.Based on product, the market has been segmented as low-temperature sterilization, heat sterilization, ionizing radiation sterilization, and filtration sterilization.
The ionizing radiation sterilization segment has been sub-segmented as gamma rays and electron beams.The technology segment has been segmented into forced convention, steam, natural convection gravity, and vacuum.On the basis of end–user, worldwide sterilization equipment market has been segmented into research institutes, hospitals & clinics, medical device companies, food & beverage industry, pharmaceutical companies, and other end–users.Sterilization Equipment Market Regional AnalysisThe market in the Americas is likely to dominate the worldwide sterilization equipment market over the forecast period owing to the progressively strict sterility guidelines, surge in the number of surgical procedures due to growing elderly population, the presence of a firm healthcare system and espousal of highly innovative technology.
Besides, the market in Asia-Pacific is likely to be the fastest-growing over the forecast period owing to the growing elderly population in the region, expanding number of hospitals in Asia, and promising government endeavors for healthcare facilities.
The firm constantly focuses on life science and biology laboratory equipment, including histology, hybridization, microbiology, food safety equipment, and blood banking.