Sterilisation equipment and disinfectants market to reach US$9.15bn globally by 2019
Driven by rising geriatric populations and rising incidences of hospital-acquired infections
From 2013 to 2019 the global sterilisation equipment and disinfectants market will grow at a CAGR of 8.5% to reach US$9.15bn by 2019, up from US$5.13bn, forecasts Transparency Market Research.
In its report, Sterilisation Equipment and Disinfectants Market, the analyst explains that sterilisation equipment and disinfectants are used to sterilise medical instruments, laboratory equipment and pharmaceutical components. They are a vital component for infection control.
It is estimated that the global market for this equipment will grow at 8.5% during the forecast period. Rising geriatric populations are a primary reason for this because older people usually suffer from diseases that need diagnosis and treatment. In addition, the increasing number of operations performed and rising per capita healthcare expenditure, coupled with growing incidences of hospital-acquired infections will propel demand.
The report describes the usage and types of sterilisation equipment and disinfectants, among which sterilisation equipment took the largest share (over 70%) in revenue terms. This market is expected to grow at the highest CAGR of 9.1% between 2013 and 2019. This growth is attributed to the wide application of the equipment and its user-friendliness. Sterilisation equipment is also said to be safer to use than disinfectants.
The report segments sterilisation equipment into heat sterilisation equipment, low temperature sterilisation equipment, filtration sterilisation and radiation sterilisation.
Sterilisation equipment and disinfectants are a vital component for infection control
The low temperature sterilisation equipment market is expected to grow at the highest CAGR of 10.9% during the forecast period. This is attributed to the increasing number of manufacturers in this sector.
The report segments the market for disinfectants into low, intermediate and high level and oxidising and non-oxidising products.
The low, intermediate and high level disinfectants market is expected to grow at the highest CAGR of 7.0%. This is due to the presence of a large number of manufacturers and a wider application area, unlike oxidising and non-oxidising disinfectants, which are limited to the pharmaceutical sector.
The market for sterilisation equipment and disinfectants in medical devices accounted for the largest share (60.8%) of the total market in 2012 and is expected to grow at the highest CAGR during the forecast period due to rising incidences of hospital-acquired infections and an increase in the number of surgeries performed.
The North American region accounted for the largest share in terms of revenue of the total market for these products, mainly because it has a growing geriatric population and the major players are based there.