ETO Sterilization Equipment Market Size, Share, Growth, and Industry Analysis, By Type(Fully Automatic, Semi Automatic), By Application (Medical Devices, Hospitals and Others), Regional Forecast To 2031

ETO Sterilization Equipment Market REPORT OVERVIEW

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The global ETO sterilization equipment market size was USD 48.55 million in 2021 and, the market is expected to reach USD 74.262 billion in 2030, exhibiting a Compound annual growth rate (CAGR) of 3.23% during the forecast period. 

A variety of sterilization techniques are used to clean medical equipment, including steam, dry heat, radiation, ethylene oxide gas, evaporated hydrogen peroxide, and other sterilization techniques (for example, chlorine dioxide gas, vaporized peracetic acid, and nitrogen dioxide). One of the most popular low temperature gaseous processes for sterilizing a range of healthcare products, including single-use medical devices, is ethylene oxide, often known as EO or ETO. The majority of medical device surfaces can be effectively penetrated by ETO sterilization equipment  using a vacuum-based technique, and due to its lower temperature, it is a great process for a wide range of materials.

COVID-19 Impact: Lockdown Gave Rise to Slower Economy Growth Rate Which Hampered the Market

The COVID-19 pandemic has changed medical priorities, which has a negative effect on healthcare administration. In the early stages of the pandemic, many nations were under lockdown. They put travel restrictions in place and banned trade with other nations, which caused a drop in healthcare services like treatments, diagnoses, and surgeries in the first half of 2020. As hospital-acquired infections have historically been a prevalent component of such outbreaks, preventing them is an essential component of the clinical therapy of COVID-19. In May 2020, the rate of hospital acquired infections rose to 15.8%. Due to the outbreak, healthcare facilities are now less able to control hospital-acquired infections, which has greatly increased the need for ETO sterilization equipment market share.

LATEST TRENDS

"Advancements in High Temperature Sterilization to Attract the Consumers "

The most popular and reliable sterilizing equipment is that which operates at high temperatures. Typically harmless to patients, workers, and the environment, high-temperature sterilization is also very microbic. Cost-effectiveness is achieved by the fact that it also penetrates deeply into the medical devices and is less expensive than other sterilization tools. These elements are to blame for the market domination of this particular industry niche. Equipment for high-temperature sterilization is further divided into steam sterilization and dry sterilization.

The segment's expansion may be fueled by the rising popularity of various surgical procedures, which are enhancing the sterilization of surgical instruments at high temperatures. Additionally, the introduction of fresh products in the sector can boost market expansion. For instance, Esco debuted the Esco CelCulture CO2 Incubator with High Heat Sterilization in May 2020. (CCL-HHS). It has been shown to be effective in eliminating bacterial spore, vegetative cells, and resistant fungi that could contaminate the workspace. Thus, such factors are expected to boost the ETO sterilization equipment market growth during the forecast period.

ETO Sterilization Equipment Market SEGMENTATION

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• By Type

Based on type, the ETO sterilization equipment market is classified into fully automatic, semi automatic and others.

• By Application

Based on application, the ETO sterilization equipment market is classified into medical devices, hospitals and others.

DRIVING FACTORS

"The Growing Population and Prevalence of Various Infections to Boost the Market  "

The prevalence of many infectious diseases has significantly increased due to the expanding worldwide population. Many of these illnesses need for treatments and operations. Sterilization is required for all surgical tools and equipment. Additionally, the use of infected equipment increases the risk of disease transmission. According to the American Society of Plastic Surgeons' National Plastic Surgery Statistics 2020, 2,314720 cosmetic surgical procedures were carried out in the country in 2020, up from 2,678,302 in 2019. Additionally, there were 6,878,486 and 6,652,591 reconstructive procedures carried out in total in the United States in 2020 and 2019, respectively. The ETO sterilization equipment market is anticipated to have considerable expansion in the upcoming years because these surgeries call for sterilized instruments.

"Rise in the Volume of Surgical Procedure to Multiply the Market Growth "

The total number of surgeries performed around the world has significantly increased over time. factors including the rising prevalence of geriatric patients and other lifestyle disorders. The need for various surgical equipment and medical devices has increased as more surgical procedures are being conducted. Due to the established advantages of sterilization and the rising public knowledge of their efficiency in healthcare settings, this is anticipated to accelerate the demand for sterilization products and services.

RESTRAINING FACTORS

"The Stringent Regulatory Requirements to Impede the Market Growth"

The ETO sterilization equipment market growth has been constrained by strict regulatory requirements for device development and approval as well as the drawbacks of chemical sterilizer used in some equipment since they could harm the skin and eyes.

ETO Sterilization Equipment Market REGIONAL INSIGHTS

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"North America to Lead the Market with the Rapid Growth and Potential Manufacturers"

The ETO sterilization equipment market in North America grew favorably, and it is anticipated to increase significantly over the next years. The market in the region is anticipated to be driven by the rising danger of cross-contamination and hospital-acquired infections, rising number of surgeries, the existence of significant market participants, and the expansion of R&D procedures. The North American market is anticipated to be dominated by the United States. The market is also being driven by technical improvements in the industry. For instance, Midmark Corporation announced the revised Midmark M3 Steam Sterilizer and new Sterilizer DataLogger in September 2020, bringing speed, simplicity, and compliance to instrument processing in dental offices in the United States. As a result, there has been a boom in the demand for instruments and medical devices, which has raised the need for sterilization equipment.

KEY INDUSTRY PLAYERS

"Notable Players to contribute towards the market growth"

The top notch players of the market share are implementing and applying varied front end and back end strategies  to exceed and expand their empire.

LIST OF TOP ETO STERILIZATION EQUIPMENT COMPANIES

• Andersen Products, Inc. (U.S.A)
• 3M Company (U.S.A)
• Telstar (Australia)
• Cosmed Group (U.S.A)
• Sterile Technologies, Inc. (India)
• Steris (U.S.A)
• Getinge AB (Sweden)
• Steri-Care (U.S.A)
• ETC Sterilization (U.S.A).

INDUSTRY DEVELOPMENT

• August 2021: Hong Kong-founded In order to disinfect against SARS-COV-2, Aurabeat introduced a medical device with anti-COVID class 2 approval from the US FDA.
• February 2021: In India, Xech Sterostet, a stethoscope sterilizer, was introduced. In order to sterilize stethoscopes and diaphragms of all sizes, it uses specialized UV-C GI technology.

REPORT COVERAGE

The report covers the information on the advancement outlooks with new inventions and SWOT analysis.The market elements situation, with the development areas of the market in the upcoming years. Market segmentation information including the subjective and quantitative research including the effect of financial and strategy viewpoints are discussed in the report. The report also disseminates the information on the regional and nation level assessment incorporating the demand and supply dominators that are affecting the development of the market. The competitive landscape including market share of major players, along with the new research methodologies and strategies adopted by players for the  forecasted period is listed in the report.