Global Sterilization Equipment Market: By Product (Heat Sterilization, Low-Temperature Sterilization, and Others), by Technology (Gravity, Vacuum, Steam, Forced Convention), and by End-User (Pharmaceutical Companies and Others)–Global Forecast Till 2023
Market Scenario
The Global Respiratory Care Devices market is expected to grow during the forecast period (2018–2023) at a CAGR ~7.0%.
Sterilization is a critical procedure in the healthcare industry and used to control the microbial populations which can affect the product quality. Numerous sterilization techniques are available in the market to control microbial growth. The increasing cases of hospital-acquired infections, an increasing number of surgical procedures, and increasing awareness about food sterilization and disinfection are expected to drive the growth of the market. Moreover, increasing research and development activities and technological advancements in sterilization techniques and increasing cases of chronic wounds are contributing to the growth of the market. According to a survey conducted by the American Professional Wound Care Association (2017), chronic non-healing wounds impact nearly 15% of Medicare beneficiaries (8.2 million) and a conservative estimate of the annual cost is USD 28 billion.
The rising cost of Respiratory Care Devices, stringent government regulations and lack of awareness may hamper the growth of the market during the assessment period.
Segmentation
The global Respiratory Care Devices market has been segmented on the basis of product, technology, and end–user.
On the basis of product, the market has been classified as heat sterilization, low-temperature sterilization, filtration sterilization, ionizing radiation sterilization. The heat sterilization segment has been further divided into dry heat sterilization and moist heat sterilization. The Low-temperature sterilization segment has been further divided into ethylene oxide sterilization, hydrogen peroxide sterilization, and others. The ionizing radiation sterilization segment has been classified as electron beams and gamma rays.
The technology segment has been divided into steam, forced convention, vacuum, gravity, and natural convection.
The market, by end–user, has been segmented into hospitals & clinics, research institutes, pharmaceutical companies, food & beverage industry, medical device companies, and other end–users.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Respiratory Care Devices market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European Respiratory Care Devices market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The Respiratory Care Devices market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Respiratory Care Devices market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
The Americas is likely to dominate the global Respiratory Care Devices market owing to the increasingly strict sterility guidelines, increase in the number of surgical procedures due to rising geriatric population, the presence of a well-established healthcare system and adoption of highly advanced technology. According to the article published in 2016 by the National Council on Aging, about 80 percent of older adults have at least one chronic disease and 68 percent have at least two.
The European market is expected to be the second-largest Respiratory Care Devices market. The market growth in this region can be attributed to the increasing government expenditure on healthcare and increasing research activities in the life sciences sector. Moreover, a growing number of road accidents in Europe region are contributing to the growth of the market in this region. According to an article published in 2015 by the World Health Organization (WHO), In Europe per year more than 2 million people suffer from road accidents and injuries related to it.
Asia-Pacific is expected to be the fastest-growing Respiratory Care Devices market during the forecast period owing to the increasing prevalence of chronic diseases, increasing number of hospitals and research institutes in Asia and growth in healthcare and biotech industry. According to the World Health Organization (WHO), the geriatric population in China in the year 2013 was 22.6 million, which is expected to show a massive growth and reach 90.4million by 2050.
The market in the Middle East & Africa is expected to hold the smallest share of the global Respiratory Care Devices market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor research and healthcare facilities.
Key Players
Some of the key players in the global Respiratory Care Devices market are 3M, STERIS plc., Getinge AB, Sotera Health, Advanced Sterilization Products (Division of Ethicon), Belimed, Anderson Products, Boekel Scientific, Celitron Medical, Technologies Kft., Fedegari Autoclavi S.p.A., Cantel Medical., LTE Scientific, Merck & Co., Inc, Midmark Corporation, and MMM Group.
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