LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global laboratory sterilizers market is expected to grow at a CAGR of more than 7% and is foreseen to reach almost USD 6 billion by 2020.
This research report titled ‘Global Laboratory Sterilizers Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. The market size was estimated based on the revenue generated by the sales of products of different technologies for sterilization at their retail prices.
The global expenditure on R&D has shown consistent growth in the last 10 years. It went up from USD 522 billion in 1996 to USD 1.3 trillion in 2009 and rose to USD 1.6 trillion in 2014. With the economies of developing countries growing faster than those of developed countries, these countries are expected to have more research facilities and institutes being set up over the next five years. The increase in the number of research and testing facilities will, in turn, lead to a rise in demand for laboratory sterilizers and other commonly used laboratory equipment. China plans to invest about 2.5% of its GDP on research, particularly in the areas of energy, water resources, and environmental protection.
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Technavio’s analysts categorizes the global laboratory sterilizers market into three major segments by technology. They are:
- Heat sterilization
- Low-temperature sterilization
- Ionizing radiation sterilization
Global heat sterilization market
The global heat sterilization market was the largest contributor to the revenue of the overall laboratory sterilizers market in 2015 with a share of over 59%. Autoclaves were the largest product segment within the heat sterilization market, accounting for over 62% of the total revenue of the market. The demand for autoclaves from new laboratories is expected to be concentrated in South America and APAC. These are the most commonly used sterilizers in healthcare facilities. With the growing popularity of tabletop heat sterilizers, hospitals, clinics, and dental clinics have been the major sources of demand for these products and will continue to be the largest market for this segment during the forecast period. The rise in the number of hospital-acquired infections over the past five years, particularly in North America, is another reason for the increase in the demand for autoclaves in this segment over the forecast period.
Global low-temperature sterilization market
Low-temperature sterilization was the second-largest technology segment in the global laboratory sterilization market in 2015 with a share of more than 24%. The steady growth of pharmaceutical research and drug discovery will fuel the demand for low-temperature sterilizers. This technology is employed in an application where the instruments or components that need to be sterilized are heat sensitive. The larger sterilizing volumes and the non-corrosive property of this technology also give an edge over other methods of sterilization.
With the discovery of new elements and gases that can be used for low-temperature sterilization, the cost of the process and the effectiveness have been improved significantly. Ethylene oxide (ETO) has been widely used for low-temperature sterilization since the 1950s.
“In low-temperature sterilization, ETO is combined with chlorofluorocarbons, a stabilizing agent in the ratio of 12:88. However, since 1995, the use of chlorofluorocarbons was phased out due to its adverse effect on Earth's ozone layer. Today, gaseous hydrogen peroxide, carbon dioxide, and vapor phase peracetic acid are being used in the low-temperature sterilization process. Furthermore, the gradual increase in the number of commercial and academic research institutions around the world will raise the demand for low-temperature sterilization technology,” according to Amber Chourasia, one of the lead lab equipment research analysts from Technavio.
Global ionizing radiation sterilization market
The global ionizing radiation sterilization market only accounted for nearly 10% of the total revenue of the global laboratory sterilization market in 2015. There are several types of ionizing radiation such as gamma radiation, X-ray radiation, and UV radiation that can be employed to sterilize instruments and medical devices. “The growth of the market is expected to be fueled by the introduction of medical sterilization services during the forecast period. Synergy Health was one of the first companies to introduce medical sterilization services using X-ray ionizing radiation technology. These services are marketed as complete solutions for the healthcare industry and have superior depth of penetration and more effectiveness in eliminating microorganisms and improving the quality of sterilization,” adds Amber.
The top vendors highlighted by Technavio’s research analysts in this report are:
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