According to Transparency Market Research’s latest report on the global sterilization equipment and disinfectant market for the historical period 2017–2018 and forecast period 2019–2027, high incidence & prevalence of infectious diseases and demand for safety of healthcare providers are projected to escalate the growth of global sterilization equipment and disinfectant market.
According to the report, the global sterilization equipment and disinfectant market was valued at US$ 5.3 Bn in 2018 and is anticipated to expand at a CAGR of 7.6% from 2019 to 2027.
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Rise in Number of Hospital Acquired Infections Propel Global Sterilization Equipment and Disinfectant Market Growth
- Hospital acquired infection (HAI) occurs during the hospital stay and it is a significant cause of mortality worldwide. Post-operative sepsis, catheter-associated urinary tract infection, pneumonia, and blood stream infections are the major types of HAIs in adults
- Hospital acquired infection is most commonly caused due to urinary catheters. For instance, according to Center for iseases Control and Prevention in 2017, catheter associated UTI is the third-most common type of healthcare associated infection
- Thus, increasing incidence of various HAIs is projected to propel the utilization of sterilization equipment, globally. This in turn to drive the growth of sterilization equipment and disinfectant market
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Inclination towards Disposable Medical Devices and Excise Duty Imposed on Medical Device Manufacturers to Hamper Global Sterilization Equipment and Disinfectant Market
- Disposable medical devices such as prefilled syringes, gloves, face masks, needles, and catheters does not require the sterilization. Thus, rise in usage of disposable medical devices is likely hamper the growth of sterilization equipment and disinfectant market.
- Increasing taxes and import duties on medical devices across the globe is likely to impact the sterilization equipment and disinfectants industry. For an instance, a medical device manufacturer is expected to pay additional Medical Device Excise Tax (MDET) of 2.3% on the sale of medical devices, under the Patient Protection and Affordable Care Act (PPACA) of the U.S. Consequently, manufacturers and importers of medical devices are supposed to pay a certain amount on the sale of specific medical devices. It has been estimated by the Joint Committee on Taxation of the U.S. that the excise tax would cost around US$ 29 billion over the period 2013 to 2022. Therefore, implementation of this act is expected to only increase expenses for sterilization equipment manufacturers, as they are likely to end up paying an additional 2.3% excise duty.
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Global Sterilization Equipment and Disinfectant Market: Competitive Landscape
- This report profiles major players in the global sterilization equipment and disinfectant market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global sterilization equipment and disinfectant market is highly fragmented, with the presence of a number of international as well as regional players
- Leading players operating in the global sterilization equipment and disinfectant market are
- Advanced Sterilization Products Services, Inc. (A Johnson & Johnson Company)
- Getinge AB
- STERIS plc
- 3M Company
- Cantel Medical Corp.,
- TSO3 Inc.
- SAKURA SI Co., Ltd.
- Matachana Group
- CISA production srl
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