Sterilants Market
Number of pages: 100 | Report Format: PDF | Published date: April 12, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 2.49 billion |
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Revenue Forecast in 2031 |
US$ 4.10 billion |
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CAGR |
5.7% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Product, End User, and region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global sterilants market was valued at US$ 2.49 billion in 2022 and is expected to register a revenue CAGR of 5.7% to reach US$ 4.10 billion by 2031.
Sterilants Market Fundamentals
Sterilants are chemicals that kill all types of microorganisms on surfaces or in confined spaces, including bacteria, viruses, fungi, and spores. Sterilization ensures the safety and efficacy of products and equipment in healthcare, pharmaceuticals, and food processing. The increasing use of eco-friendly and non-toxic sterilants is becoming popular. Concerns about the environmental impact of traditional sterilants and the potential health risks associated with their use are other trends observed in the market. Sterilants based on hydrogen peroxide and other non-toxic options are becoming increasingly popular. The demand for infection control measures and the increasing number of surgeries and procedures continue to make the healthcare sector the largest sterilant market. The COVID-19 endemic has boosted the demand for sterilants in the healthcare industry.
Moreover, market players in the sterilants market are adopting various tactics to improve their market revenue share. Companies are investing in R&D to create new and creative sterilants that are more effective, ecologically friendly, and cost-effective. Product differentiation through innovation is important for organizations to maintain market competitiveness. The growing awareness of the need for sterilization to prevent disease transmission is also helping to drive the sterilants market revenue.
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Sterilants Market Dynamics
The increasing demand for sterilized surgical tools and equipment and the rising demand for suitable sterilants have created opportunities for manufacturers. Additionally, strategic acquisitions and collaborations by manufacturers are expected to drive the sterilants market size during the forecast period. Furthermore, the global pandemic has increased the demand for hygiene solutions, increasing market revenue growth. The global sterilants market is also expected to grow significantly due to the rising demand for sterilized surroundings in healthcare facilities, pharmaceuticals, and food processing industries. Manufacturers are focusing on developing innovative and effective sterilants to cater to the growing demand from the end-user.
Strategic acquisitions and partnerships by manufacturers will likely drive the sterilants market revenue during the forecast period. Acquisition or collaboration with other companies might give access to new technologies that can be used to boost the company’s product line and market competitiveness. Acquisitions and partnerships can also assist manufacturers in expanding their product portfolios, allowing them to meet a wider range of client demands. Moreover, collaboration with other companies can give new research and development skills, which can aid in the creation of novel sterilant products.
COVID-19 has emphasized the significance of maintaining beneficial hygiene and sanitation standards. As a result, there has been an increasing need for sterilization and other hygiene measures to prevent the virus’s spread. Furthermore, sterilization in healthcare institutions is more important than ever to prevent the spread of the virus and other infections. Also, as the need for personal protective equipment (PPE) has expanded, so has the requirement for PPE sterilization to assure its efficacy. The necessity for sterilization has also emerged in the food and beverage industries to ensure food safety and prevent viral spread. The industrial sector has also seen increased demand for sterilization to keep production facilities clean.
However, the increasing preference for reusable medical devices and the rising adoption of alternative sterilization methods such as gamma irradiation and E-beam sterilization are restraining the revenue growth of the sterilants market. Additionally, stringent regulations regarding the use of harmful chemicals in sterilization processes are also hindering market revenue growth. There have also been some regulatory developments in the sterilants market, particularly related to the use of certain sterilization methods. For instance, in July 2021, the U.S. Food and Drug Administration (FDA) issued a safety communication warning to healthcare providers and patients about the potential risks associated with the use of ethylene oxide gas to sterilize certain medical devices.
Sterilants Market Ecosystem
The global sterilants market is analyzed from three perspectives: product, end user, and region.
Sterilants Market by Product
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Based on product, the global sterilants market is segmented into ethylene oxide (EtO), glutaraldehyde, hydrogen peroxide gas plasma (HPGP), vaporized hydrogen peroxide, immersion, vapor phase peracetic acid, and others.
The ethylene oxide (EtO) segment accounted for a prominent revenue share in the global sterilants market. This is due to the widespread use of EtO in the healthcare industry for sterilizing medical devices and equipment. Moreover, ethylene oxide (EtO) is an antimicrobial sterilant licensed with the EPA (Environmental Protection Agency) used to sterilize medical equipment. It is the primary sterilization procedure accessible for medical equipment, and EtO is used to sterilize half of all sterile medical devices.
Glutaraldehyde is used as a cold sterilizer to disinfect and clean heat-sensitive equipment such as dialysis machines, surgical tools, suction bottles, bronchoscopes, endoscopes, and ear, nose, and throat instruments. Glutaraldehyde is also utilized in histology and pathology laboratories as a tissue fixative and hardening agent in X-rays generation. Moreover, glutaraldehyde sterilizer offers several advantages over other sterilization methods, such as its ability to penetrate complex instruments and its effectiveness against various microorganisms. It is a relatively safe and easy-to-use method that does not require special equipment or extensive training.
Sterilants Market by End User
Based on end-user, the global sterilants market is segmented into hospitals, clinical ambulatory surgical centers, diagnostic laboratories, reference laboratories, rehabilitation centers, long-term care centers, pharmaceutical & biotechnology companies, academics & research institutes, and others.
The hospital segment accounted for the majority of the global sterilants market. This is owing to a growth in the number of operations and procedures conducted worldwide, raising the need for sterilizing hospital commodities and services. Moreover, the rising frequency of hospital-acquired diseases has increased the emphasis on infection prevention measures, fueling the expansion of the hospital segment. Additionally, technological developments of new and novel sterilization products have contributed to market revenue expansion. This has allowed hospitals to enhance their sterilization operations, resulting in better patient outcomes and lower infection risk.
The diagnostic laboratories segment is characterized by the increasing demand for sterilants due to the rising prevalence of infectious diseases and the need for effective sterilization methods to prevent cross-contamination. Additionally, advancements in diagnostic technologies and an increase in diagnostic procedures are expected to drive the revenue growth of this segment during the forecast period.
Sterilants Market by Region
Based on the region, the global sterilants market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America accounts for the majority of the global sterilant market revenue share. This large revenue share is attributed to the increasing demand for sterilization in the healthcare sector and the presence of key market players in the region. The market is expected to continue its revenue growth during the forecast period due to the rising awareness regarding infection control and the implementation of stringent regulations by regulatory bodies in North America. The adoption of advanced sterilization technologies is also expected to drive market revenue growth.
The European sterilants market is characterized by a growing demand for eco-friendly and non-toxic sterilization solutions due to increasing awareness about the harmful effects of conventional sterilants on the environment and human health. This trend is expected to drive market revenue growth in the coming years as manufacturers focus on developing innovative and sustainable products to meet the evolving needs of consumers.
During the forecast period, the Asia Pacific is expected to show lucrative growth in the forecast years. The increasing prevalence of hospital-acquired infections and the rising demand for sterilization in hospitals and clinics are the primary factors driving the revenue growth of the sterilants market in Asia Pacific. Additionally, the growing emphasis on food safety and the expansion of the pharmaceutical industry is also contributing to market revenue growth.
Competitive Landscape of the Global Sterilants Market
The competitive landscape of the sterilants market is constantly evolving due to the introduction of new products and advanced technologies. Companies are focusing on expanding their product portfolios and investing in research and development activities to gain a competitive edge in the market. The rise in awareness about the importance of maintaining hygiene and preventing infections is also a major factor contributing to the revenue growth of the sterilants market.
The prominent companies operating in the global sterilants market with the largest revenue share are:
Strategic Developments in Sterilants Market
The ethylene oxide (EtO) segment accounted for the majority of the global sterilants market revenue share.
The global sterilants market is expected to grow at a revenue CAGR of 5.7% during the forecast period.
Cantel Medical Corporation, Evonik Industries AG, Arkema S.A., Metrex Research, LLC, and Ecolab Inc. are a few key players operating in the global sterilants market.
The Asia Pacific region is expected to account for the highest revenue in the global sterilants market during the forecast period.
The increasing adoption of alternative sterilization methods, such as gamma irradiation and E-beam sterilization, is restraining the revenue growth of the sterilants market. Additionally, stringent regulations regarding the use of harmful chemicals in sterilization processes are also hindering market revenue growth.
*Insights on financial performance are subject to the availability of information in the public domain