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Sterilization Equipment Market Growth at CAGR of 8.6%, 2018-2023 - Latest Challenges and Trends

(EuropeNewsWire.Net, December 04, 2018 ) Sterilization Equipment Market Overview
Sterilization can be defined as the process which kills/removes/deactivates all forms of life and organisms like fungi, bacteria, viruses, prions, plasmodium etc. present in fluids, medications or biological culture media. Sterilization is a process which cannot be avoided since deadly diseases like hepatitis and HIV are treating the lives of many people. High levels of sterilization achieved by heat finds its application in sterilization food containers such as beer, milk and fruit juice bottles.

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The Global Sterilization Equipment market is driven by factors such as increasing investment in healthcare infrastructure, growing demand for sterilized equipment, stringent regulations in using medical equipment growth in food and beverages industry, increasing number of pharmaceutical companies, rise of hospital acquired diseases and rising geriatric population among others. However, the market is constrained by high cost of sterilization equipment.

Sterilization Equipment Market Forecast Report (2018-2023)
Sterilization Equipment Market was worth USD 5.54 billion in 2018 and estimated to be growing at a CAGR of 8.6%, to reach USD 8.37 billion by 2023.

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Sterilization Equipment Market Segmentation
The Global Sterilization Equipment market is segmented on the basis of product into low-temperature/high-temperature heat sterilization, filtration sterilization equipment and ionizing radiation sterilization equipment. By end users, the market is divided into pharmaceutical companies, medical device companies, hospitals, food & beverage companies and others. Pharmaceuticals companies are expected to have the largest market share in the segment. By consumables and accessories the market is segmented into detergents, sterilization accessories, sterilization indicators, pouches and lubricants.

The Global Sterilization Equipment market is divided based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America holds the largest market share in the world as a result of rising demand for sterilization technologies to decrease the incidence of hospital acquired infections and rising number of doctors. Asia-Pacific is the fastest growing region owing to huge growth in the number of hospitals, growing prevalence of infectious diseases and focus of government agencies to decrease the number of hospital acquired diseases.

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Major Players:
The major companies dominating this market for its products and services are
STERIS Corporation (U.S.),
Getinge Group (Sweden),
Advanced Sterilization Products (U.S.),
3M Company (U.S.),
Belimed AG (Switzerland),
Cantel Medical Corporation (U.S.),
Anderson Products, Inc. (U.S.),
Matachana Group (S.A.),
MMM Group (Germany),
Sterigenics International, Inc. (U.S.).

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