Is the $26.77 billion sterilization equipment market ready to explode?
- A report released on January 6, 2025, forecasts the sterilization equipment market will grow significantly, reaching a value of $26.77 billion by 2031.
- Key growth drivers include a rise in surgical procedures, hospital-acquired infections, and an increased need for food safety measures.
- Despite growth potential, challenges such as safety concerns about ethylene oxide and instrument reprocessing may hinder market expansion.
On January 6, 2025, a report was released highlighting projections for the sterilization equipment market's growth. The study forecasts a market value of $26.77 billion by 2031, reflecting a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031. Several factors driving this growth include an increasing prevalence of hospital-acquired infections, higher rates of surgical procedures, and a growing necessity for sterilization in the food industry aimed at mitigating food-borne diseases. This multifaceted demand highlights the rising recognition of the importance of sterilization practices across various sectors. However, the report also disclosed obstacles that could hinder market expansion. Concerns regarding the safety of certain sterilization methods, such as ethylene oxide, create apprehensions among healthcare providers and regulators. Moreover, the challenges associated with the reprocessing of instruments further complicate the landscape. These restraints underscore the need for innovation and safety assurances to reassure stakeholders in the industry. Nevertheless, the report identifies numerous opportunities for market players. The rising adoption of e-beam sterilization technologies, increased demand for sterilization products in emerging markets, and an amplified focus on infection control in both healthcare and non-healthcare domains suggest room for growth. Furthermore, the growing implementation of CO2 sterilization technology in the medical device industry represents a significant shift towards modernization and efficiency in sterilization methods, potentially enhancing operational capabilities. As the sterilization equipment market evolves, the consumables and accessories segment is poised for the highest growth rate during the specified forecast period. Additionally, hospitals and clinics are projected to retain the largest market share in 2024, reflecting a continuing emphasis on sterilization practices within medical facilities. The report serves as a comprehensive resource, providing key drivers, barriers, and growth opportunities relevant to the sterilization equipment industry, which is crucial for informed decision-making by stakeholders.