Sterilants Market is anticipated to grow at a CAGR of 6% to reach US$ 4244.1 million by 2033 | FMI
The Sterilants Market is expected to grow from US$ 2361.627 million in 2023 to US$ 4244.1 million by 2033. During the analysis period, this market is expected to grow at a CAGR of 6%.
Industries and healthcare facilities must follow the sterilization process. In the sterilants market, effective and compatible sterilants or sporicidal agents have been demanded due to the increasing incidence of infection transmission through surgical instruments or contaminated surfaces in contact with human skin and tissues.
A major driver of the sterilant market is the growing demand for processed food that uses sterilants to preserve food and protect it from microorganisms. As medical equipment must be sterilized with sterilants such as peracetic acid, the growing healthcare industry also contributes to the growth of the global sterilant market.
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Due to the increasing use of sterilants in agriculture to protect crops, the global sterilant market is expected to grow in the coming years. Furthermore, sterilants such as peracetic acid are environmentally friendly, making them preferred for sterilizing medical equipment; in addition, they leave no toxic residues after application, making them an opportunity for the future.
“The growing demand for sterilized environments (in terms of sterilized surgical instruments and equipment) and surging demand for compatible sterilants have driven opportunities for manufacturers. Strategic acquisitions and collaborations by the manufacturers are leading to high growth of the sterilants market in the coming years.” – says a lead analyst at Future Market Insights.
Key Takeaways from Market Study
- The sterilants market is expected to grow at a CAGR of 6% over the forecast period.
- It is estimated that the sterilants market in North America will remain strong during the forecast period.
- The hospital segment accounted for the highest share of the sterilants market with a CAGR of 4.5%.
- Ethylene oxide has the highest revenue share of US$ 605.31 million in 2023 and is expected to rise to annual revenue of US$ 995.42 million by 2033 with a 5.1% CAGR between 2023 and 2033.
- It is expected that the market in the United States will demonstrate a high level of growth by the year 2033.
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There is a high level of competition in the market as many leading players focus on various market consolidation activities, such as mergers, acquisitions, supply distribution partnerships, and product launches. Manufacturers need to expand their market footprint and provide solutions to their end users. Nowadays, many leading manufacturers offer customized solutions to meet the needs of a variety of end users.
Several prominent companies dominate this market, including:
- 3M Company
- Steris Plc.
- Cantel Medical Corporation
- Evonik Industries AG
- Arkema S.A.
- Thor Group
- Metrex Research, LLC
- Ecolab Inc.
- Solvay SA
- Astell Scientific launched the latest AstellBio Sink line of Effluent Decontamination Systems (EDS) capable of sterilizing polluted wastewater automatically before releasing it into the sewer system in October 2021. The AstellBio Sink prevents the spread of harmful organisms by deactivating biological agents up to and including level 3.
- Earlier this year, Sodexo announced its partnership with Ecolab Inc. to offer the latest infection prevention products and services to healthcare facilities and hospitals across the country. Protecta Plus, Sodexo’s unique program, uses Ecolab’s hydrogen peroxide vapor technology to further reduce the risk of infection.
- A high-level disinfectant named Rely+On Virkon was launched by Lanxess in response to a pandemic outbreak in 2020. Hard surfaces and equipment will be highly contaminated, so the product will be highly effective.
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Sterilants Market Segmentation by Category
- Ethylene Oxide (EtO)
- Hydrogen Peroxide Gas Plasma (HPGP)
- Vaporized Hydrogen Peroxide
- Immersion and Vapor Phase Peracetic Acid
- Ambulatory Surgical Centers
- Diagnostic Laboratories
- Reference Laboratories
- Rehabilitation Centers
- Long Term Care Centers
- Critical Care Centers
- Pharmaceutical & Biotechnology Companies
- Academics and Research Institutes
- Homecare Settings
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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