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Impressive Growth: From $10.8 Billion to $12.12 Billion in 2023
The global sterilization equipment market has exhibited impressive growth, escalating from $10.8 billion in 2022 to $12.12 billion in 2023. This substantial uptick is driven by a robust Compound Annual Growth Rate (CAGR) of 12.3%. Projections suggest continued expansion, with the market size anticipated to reach $18.5 billion by 2027, sustaining a solid CAGR of 11.2%.

Battling Infections: The Role of Sterilization Equipment

Hospital-Acquired Infections (HAIs)

• Definition: HAIs refer to illnesses acquired in a hospital setting during a patient’s stay, causing morbidity and mortality worldwide.
• Diverse Forms: Include bloodstream infections from a central line, urinary tract infections from a catheter, and pneumonia from a ventilator.

CDC Insights

• Significant Increase: According to the CDC, healthcare-associated infections (HAIs) notably increased in US hospitals in 2020, primarily due to the impact of the COVID-19 pandemic.
• Data Snapshot: In the second, third, and fourth quarters of 2020, national standardized infection ratios (SIRs) for central-line–associated bloodstream infections (CLABSIs) surged by 27.9%, 46.4%, and 47%, respectively.

Industry Leaders: Paving the Path

• Key Players: Major contributors to the sterilization equipment market include STERIS, Getinge AB, 3M, Cardinal Health, Fortive Corporation, Stryker Corporation, Cantel Medical, MMM Group, Merck KGaA, Matachana Group, and others.

Innovation Unleashed: New Sterilization Instruments Take Center Stage

Midmark’s Initiatives

• Focus on Efficiency: Major companies in the sterilization equipment market are introducing innovative instruments to enhance speed, simplicity, and compliance in sterilization processing.
• Midmark’s Launch: In October 2020, Midmark Corp., a US-based healthcare product manufacturer, unveiled the Sterilizer Data Logger and an updated M3 Steam Sterilizer.
• Improvements: The upgraded Midmark M3 Steam Sterilizer ensures rapid and hassle-free tool and handpiece sterilization, simplifying the process with built-in safety features.
• Data Logger Benefits: The Sterilizer Data Logger records and stores the sterilizer’s physical and mechanical performance automatically, providing convenient access to years of data for audits and troubleshooting.

Market Dynamics: Segmenting the Landscape

1) By Product

• Sterilization Indicators, Detergents, Pouches, Lubricants, Sterilization Accessories:
  • Diverse product offerings catering to different aspects of the sterilization process.

2) By Equipment

• High-Temperature Sterilization, Low-Temperature Sterilization, Filtration Sterilization, Ionizing Radiation Sterilization:
  • Technological variations in equipment offering diverse sterilization methods.

3) By End User

• Pharmaceutical Companies, Hospitals And Clinics, Medical Device Companies, Food And Beverage Companies, Other End Users:
  • Reflecting the broad spectrum of industries and facilities relying on sterilization equipment.

Regional Landscape: North America Leads, Asia-Pacific Surges

• North America’s Dominance: In 2022, North America emerged as the largest region in the sterilization equipment market.
• Asia-Pacific’s Growth: Anticipated to be the fastest-growing region in the forecast period, highlighting the global reach and impact of sterilization equipment.

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The Sterilization Equipment Global Market Report 2023 provides a comprehensive overview on the sterilization equipment market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

 View More Related Reports –
Sterilization Equipment And Disinfectants Global Market Report 2023
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