The main objective of this report is to define, describe, and forecast the global “Sterilization Equipment” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to report the global sterilization equipment market is projected to grow at a CAGR of 6.8% over the forecast period of 2018-2024.
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Tso3 Announced Closing of US$20 Million Financing With Courage Capital to Commercialize the Sterizone® Vp4 Sterilizer and Support Getinge Transition
In 2018, TSO3 Inc., an innovator in sterilization technology for medical devices, announced that TSO3 and its investment advisor, have entered into a Biding of US$20 million debt financing to fund commercialization initiatives for its STERIZONE® VP4 Sterilizer. VP4 Sterilizer is the only terminal sterilization method that is FDA cleared to sterilize multi-channeled flexible endoscopes (with a maximum of four channels) of up to 3.5 meters in length, such as certain colonoscopes, gastroscopes, and duodenoscopes. Courage is a Nashville, TN headquartered alternative asset management firm with a 20-year track record of investments in healthcare services, medical devices, and pharmaceuticals.
Belimed has acquired Sterifast to enter the fast-growing low-temperature sterilization market
In Jun 2017, The Belimed Group has acquired 100% of the shares of Sterifast, a Portuguese company specializing in low-temperature sterilization. With the increase in Minimally Invasive Surgical (MIS) procedures, there is a growing need for complex surgical instrumentation. The majority of these instruments are heat and moisture sensitive, requiring the need for low-temperature alternatives. With this acquisition, Belimed will have access to the innovative H202 technology developed by Sterifast.
Growing number of surgeries performed in the hospital owing to rise in aging population is the key factor driving the growth of sterilization equipment market
The factors such as a rise in occurrences of chronic diseases such as cancer and increase demand for sterilization equipment in the healthcare sector provides prevention related to healthcare-associated infections have a positive impact on the market. In addition, the growing need for Sterilization Equipment in the biotechnology and pharmaceutical industries and a rise in healthcare expenditure are also fueling the growth of the market. However, the strict rule set by the government and healthcare association concerning sterility is further projected for the growth of the market. Going further, growing demand for the Sterilization Equipment offers significant growth opportunities for key players in this market in near future.
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Asia Pacific region to contribute to growth in the global Sterilization Equipment Market over the next 6 years
Among the regions, North America contributed the largest revenue in the sterilization equipment market. Growing need for sterilization technologies in the healthcare sector to prevent the healthcare-associated infection, high prevalence of infectious diseases and increasing surgical procedures are expected to boost the market in the North America region. The Asia Pacific is anticipated to be the fastest growing market during the forecast period. Increasing surgical procedure, rapidly growing population, high prevalence of hospital-acquired infections in hospital and rising number of the pharmaceutical industries are expected to fuel the market in this region.
The major key players in Sterilization Equipment Market are Cardinal Health, Steris Corporation, Getinge Group, Belimed AG, Cantel Medical, Advanced Sterilization Products, Getinge Group, Matachana Group, Sotera Health and 3M Company Group.