Low Temperature Sterilization Market Growth Analysis | 2021-2026

Market Insights

The low temperature sterilization market was estimated at USD 1.6 billion in 2020 and is likely to grow at a CAGR of 9.6% during 2021-2026 to reach USD 2.7 billion in 2026.

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Market Dynamics

Introduction

Low-temperature sterilization is the most widely used technology to sterilize moisture-intolerant or heat-sensitive surgical equipment. Sterilization is a process in which all the microorganisms, including bacteria and spores, are killed. Some of the commonly used low-temperature sterilization methods include ethylene oxide, hydrogen peroxide gas plasma, and ozone.

COVID-19 Impact

The covid-19 outbreak impacted the growth of the low-temperature sterilization market positively. The emphasis on maintaining proper hygiene and cleanliness in the hospitals increased due to fear of coronavirus infections and thus, propelled the market growth. Additionally, a low-temperature sterilization technique was used to sterilize the respirators and other devices in the hospitals.

Market Drivers

The growth of the global market is primarily driven by the increasing incidence of hospital-acquired infections in patients specifically the ones that are receiving long-term treatment.

• The growing preference for low-temperature sterilization techniques over steam to sterilize heat-sensitive surgical equipment and supplies is expected to propel the market growth at a significant rate.
• Additionally, the increasing prevalence of chronic diseases such as cancer and diabetes and rising safety & hygiene consciousness among consumers is likely to add to the market growth.

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Key Players

Key players operating in the market are:

• 3M (The U.S),
• Gentinge AB (Sweden),
• Johnson & Johnson (The U.S),
• Steris Corporation (The U.S),
• Belimed AG (Switzerland),
• TSO3 INC. (Canada), Becton,
• Dickinson and Company (The U.S),
• Sterigenics LLC (The U.S.),
• Cantel, Medical Corporation (The U.S),
• E-BEAM Services, Inc. (The U.S), and
• Fortive (The U.S).

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Method Type

Based on the method, the market has been segmented into ethylene oxide, hydrogen peroxide gas plasma, ozone, and others.

• The ethylene oxide segment accounted for the largest market share in 2020 and is projected to grow at the fastest CAGR during the review period.
• The segment growth can be attributed to its widespread use in sterilizing both moisture-sensitive devices and heat-sensitive devices.

Regional Insights

Geographically, the market in North America accounted for the largest market share in 2020.

• The regional market growth can be attributed to increasing incidences of hospital-acquired infections due to the prevalence of a large number of people having chronic diseases.
• Additionally, increasing regulatory policies regarding providing safe and improved healthcare services to patients is likely to drive regional market growth.
• The market in Asia-Pacific is expected to register the fastest growth during the review period on account of rising consumer awareness regarding hygiene and cleanliness & related infectious diseases.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects low temperature sterilization market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The low temperature sterilization market is segmented into the following categories:

By Method Type

• Ethylene Oxide
• Hydrogen Peroxide Gas Plasma
• Ozone
• Others

By End-User Type

• Hospitals & Diagnostic Centers
• Pharmaceutical Companies
• Medical Devices Companies
• Research and Educational Institutes

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].