Sterilization Equipment Market Size, Share & Trends Report

Sterilization Equipment Market Size, Share & Trends Analysis Report By Product (Heat Sterilizers, Low-temperature Sterilizers, Sterile Membrane Filters, Radiation Sterilization Devices), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-400-0
  • Number of Pages: 120
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the sterilization equipment market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for sterilization equipment market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of sterilization equipment market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Sterilization Equipment Market Categorization:

The sterilization equipment market was categorized into four segments, namely product (Heat Sterilizers, Low-temperature Sterilizers, Sterile Membrane Filters, Radiation Sterilization Devices), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The sterilization equipment market was segmented into product, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The sterilization equipment market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-four countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Sweden; Denmark; Norway; Japan; China; India; South Korea; Thailand; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; UAE; Kuwait; Saudi Arabia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Sterilization equipment market companies & financials:

The sterilization equipment market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • STERIS, Steris Plc is an international supplier of services for infection control and procedural operations. It functions through four primary divisions—life sciences, healthcare products, healthcare specialty services, and applied sterilization technologies—providing contract sterilization services in more than 50 facilities across 16 nations. The company, with its operations in over 100 countries, caters to a varied clientele, including manufacturers of medical devices and pharmaceutical firms. In January 2021, Steris took over Cantel Medical, thereby strengthening its portfolio of infection prevention with a concentration on water purification, endoscopy, dialysis, and healthcare disposables. Cantel Medical had earlier acquired MEDIVATORS, Mar Cor Purification, & Crosstex, thereby broadening its range of hospital sterilization equipment and solutions for infection prevention.

  • Sterigenics U.S., LLC- A SOTERA HEALTH COMPANY, Sterigenics U.S., LLC, a subsidiary of Sotera Health along with Nelson Labs and Nordion, is a company that designs, endorses and circulates inclusive sterilization technologies. It caters to approximately 180 million users universally. In November 2017, the parent company of Sterigenics International was renamed Sotera Health LLC. The business operates 48 facilities in 13 countries. It offers services to five key sectors: medical devices, pharmaceuticals, food & commercial products, food & beverage packaging, and innovative radiation processing. Nordion, a business unit of Sotera Health, employs Cobalt-60 (a principal product) to sterilize medical equipment, such as surgical masks, gowns, and gloves, particularly during the COVID-19 pandemic.

  • Fortive (ASP-Advanced Sterilization Products), Advanced Sterilization Products (ASP) is a worldwide supplier of cutting-edge sterilization and disinfection solutions aimed at optimal patient care. It provides consumables and software for high-level disinfection and low-temperature terminal sterilization of reusable surgical tools, healthcare antisepsis solutions, and automated area decontamination. Its product range includes a Sterrad system for instrument sterilization and Endoclens systems for endoscope reprocessing and cleaning. ASP is currently a division of Fortive Corporation, which specializes in industrial testing and measurement, as well as technologies for automotive repair and transportation. Fortive operates through three key segments: innovative healthcare solutions., intelligent operating solutions, and precision technologies.

  • 3M, 3M is a global business that designs, produces, and sells a variety of goods and services. It operates in four key sectors: transportation & electronics, safety & industrial, healthcare, and consumer goods. The healthcare division offers a range of products and services, including skin health & infection prevention products, oral care solutions, and transdermal drug delivery systems & sterilizers. 3M's products are marketed through a diverse network of wholesalers, retailers, dealers, and distributors worldwide. The company has approximately 75 manufacturing facilities in nearly 30 U.S. states and runs about 110 manufacturing & converting facilities in approximately 35 other countries. In the healthcare sector, it supplies sterilization equipment for pharmaceuticals, medical clinics & hospitals, dental & orthodontic practitioners, health information systems, food manufacturing, and testing. 3M has operations in Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.

  • Andersen Sterilizers, The company is engaged in the production, distribution, and service of gas sterilization products. It serves a clientele of over 6,000 healthcare facilities, including hospitals, veterinary clinics, ambulatory surgery centers, medical device manufacturers, and clinical & research laboratories. The company prides itself on being the sole provider of an EtO sterilization cycle that lasts as little as 3 hours. Presently, the company operates in all continents and subcontinents, with a network of 80 distributors worldwide.

  • Getinge AB, Getinge AB provides a variety of products across several sectors, such as patient transfer solutions, therapeutic support systems, medical beds, hygiene systems, vascular therapy, disinfectant products, and diagnostic products. The company also extends a range of services, including assessment, rental, technical, and architectural services. It boasts a comprehensive product portfolio in the infection control and safety domain and operates in over 44 countries, marking its presence in approximately 160 countries. The company also offers other services like assessment, rental, technical, and architectural services.

  • Fedegari Group, Fedegari Group specializes in the production of high-efficiency systems and equipment for cleaning and sterilization processes in the biopharma sector. Its product line includes moist and dry heat sterilizers, chemical bio-decontamination units, washers, contamination control solutions like down-flow booths and HEPA trolleys, sterility test isolators, and systems for processing pharmaceutical closures.

  • Steelco S.p.A, Steelco S.p.A specializes in the production of sterilization, washing, and disinfection systems for a variety of medical devices used in healthcare, pharmaceutical, and life sciences industries. The company offers comprehensive solutions for hospital Central Sterile Services Departments (CSSD) and clinics, including layout planning, automation, and design. Presently, the company's market distribution is 50% in the medical sector, 18% in pharmaceuticals, 12% in life sciences, 10% in laboratories, and 10% in services. Their product range is capable of reprocessing medical devices utilized in outpatient, endoscopic, and surgical settings.

  • TSO3 (Stryker Corporation), TSO3 specializes in low-temperature sterilization techniques to eradicate microbial contamination. The company’s innovative sterilizer, STERIZONE, employs hydrogen peroxide and ozone. Its product portfolio caters to medical device manufacturers, hospitals, research institutions, and waste management companies. TSO3 has a global presence with operations in 60 countries. It also provides services like sterilization equipment maintenance and compatibility testing for medical devices. Since 2019, TSO3 has been a fully-owned subsidiary of Stryker Corporation. Stryker is involved in the creation and marketing of products and services based on medical technology. It operates in three divisions: orthopedics, MedSurg, and neurotechnology & spine. Stryker distributes its products in over 80 countries via its own branches, subsidiaries, distributors, and third-party dealers, serving hospitals, doctors, and healthcare facilities.

  • SOLSTEO, Specializing in the design, manufacture, and provision of software-driven EtO sterilization equipment, SOLSTEO offers technical services, spare parts, maintenance, validation, retrofitting, and exclusive services. The company adheres to ISO 11135 standards and is an active participant in the ISO technical group. SOLSTEO is certified by INERIS to provide ISM-ATEX training from level 0 to Level 2E. It offers a software solution called CRISTAL CONNECT, which allows customers to control EtO sterilizers and secure data. SOLSTEO complies with current European regulations, including EN 1422, ISO 11135:2014, EU Directive 2006/42/EC, and EU Pressure Equipment Directive 2014/34/UE.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Sterilization Equipment Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Sterilization Equipment Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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