LOW TEMPERATURE STERILIZATION EQUIPMENT MARKET ANALYSIS

Low Temperature Sterilization Equipment MarketSize and Trends

The global Low Temperature Sterilization Equipment Market was valued at US$ 1,120.1 million in 2016 and is expected to witness a robust CAGR of 10.6% over the forecast period (2017 - 2025).

Figure 1. Global Low Temperature Sterilization Equipment Market (US$ Mn), by Region, 2016

Source: Coherent Market Insights (2018)

Market- Trends

Increasing number of healthcare associated infections is one of the major factor fostering the use and implementation of low temperature sterilization systems in hospitals and other healthcare settings. According to World Health Organization (WHO), in 2011, 7 out of 100 hospitalized patients procure hospital acquired infection (HAIs) and one third of the intensive care unit (ICU) patients procure hospital acquired infection due to the presence of non-sterile environment. Moreover, according to the European Centre for Disease Control and Prevention 2013, prevalence of healthcare associated infections due to use of contaminated equipment accounted for up to 4,131,000 patients affected per year in the European economies. According to a report published by Patient Safety- World Alliance for Safer Healthcare and World Health Organization 2012, due to unfavorable environment as well low quality of the healthcare institutes in low and middle income economies, patient infection due to use of non-sterile and contaminated instruments is higher as compared to the number in developed economies.

Several other factors supporting the growth of Low Temperature Sterilization Equipment Market includes increasing number of surgical procedures, increasing healthcare expenditure, demand for following sterilization protocols by healthcare regulatory boards in various parts of the globe. For instance, the Ministry of Health, Singapore in 2016 released a National Infection Control Guideline as a consultation draft for hospital and other healthcare facilities to use low temperature sterilization procedures for preventing infections.

Advancements in the low temperature sterilization techniques to boost growth of the global market

Modern low temperature sterilization techniques include sterilization using ethylene oxide, hydrogen peroxide plasma, and steam formaldehyde at low temperature and others. The new equipment developed by manufacturers as a result of research and development includes various facilities added in the devices to provide multiple options post and prior to the sterilization procedures. For instance, Steris Corporation introduced an innovative device in 2014, known as V-Pro 60, a low temperature sterilization system that offers the healthcare and pharmaceutical industry the flexibility and productivity to reprocess the medical devices.