The Sterilants Market is poised for a significant surge, driven by the growing emphasis on hygiene and infection control practices within healthcare settings and beyond. According to a recent market analysis by Future Market Insights (FMI), a leading market research firm, the market is expected to climb from US$2,361.627 million in 2023 to a staggering US$4,244.1 million by 2033. This upward trajectory translates to a robust Compound Annual Growth Rate (CAGR) of 6%, reflecting the strong market momentum anticipated over the next decade.
The forecasted growth of the sterilants market is attributed to a confluence of factors, positioning the industry on a trajectory of substantial expansion. Factors contributing to this significant surge include heightened awareness of sterilization practices across various industries, a growing demand for healthcare services, and continuous advancements in sterilization technologies. The projected 6% CAGR not only signifies market resilience but also showcases an upward trajectory, emphasizing the industry’s ability to capitalize on evolving trends and technological advancements.
Industries and healthcare facilities must follow the sterilization process. In the Global Sterilants Industry, 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 Global Sterilants Industry in the coming years.” – says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Sterilants Market Study
- The sterilants market is expected to grow at a CAGR of 6% over the forecast period.
- It is estimated that the sterilant 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 an 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.
Sterilants Market Competitive Landscape:
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 the sterilant market, including:
- 3M Company
- Steris Plc.
- Cantel Medical Corporation
- Evonik Industries AG
- Arkema S.A.
- Thor Group
- Metrex Research, LLC
- Ecolab Inc.
- Solvay SA
- LANXESS
- Contec, Inc.
- OZU Corporation
- Cetylite, Inc.
- Veltek Associates, Inc.
- Whiteley Corporation
- Gul Biyoloji Laboratuvari
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Sterilants Market Recent Developments:
- 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.
Sterilants Market Segmentation by Category
By Product:
- Ethylene Oxide (EtO)
- Glutaraldehyde
- Hydrogen Peroxide Gas Plasma (HPGP)
- Vaporized Hydrogen Peroxide
- Immersion and Vapor Phase Peracetic Acid
- Others
By Form:
- Liquid
- Spray
By End-user:
- Hospitals
- Clinics
- 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
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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