by The global Medical Device Cleaning Market is estimated to be valued at US$ 8.06 Bn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The medical device cleaning market comprises products such as automated reprocessors, detergents, disinfectants, and rinsing agents used to sanitize medical equipment. These products prevent the spread of infectious diseases by removing contaminants and debris from reusable medical devices. With advancement in surgical procedures, the demand for minimal invasive surgeries has increased which requires usage of various medical instruments during procedures. These instruments need to be cleaned properly before and after each usage to avoid infections.
Market key trends:
One of the key trends in the medical device cleaning market is the adoption of automated cleaning systems. They offer consistent and efficient cleaning compared to manual cleaning. Automated systems reduce the risk of human error and ensures complete disinfection of complex medical devices within a stipulated time cycle. They are ideal for high volume processing requirements of hospitals and healthcare centers. Another important trend is increased research activities for developing environment friendly and safer cleaning formulations. With stringent regulatory norms, manufacturers are focusing on green chemistry approaches to offer products with lower toxicity.
Porter’s Analysis
Threat of new entrants: The medical device cleaning market requires high initial investments and regulatory compliances which reduces the threat of new entrants.
Bargaining power of buyers: The presence of many medical device cleaning products manufacturers reduces the bargaining power of buyers.
Bargaining power of suppliers: The availability of alternative raw material suppliers limits the bargaining power of suppliers in this market.
Threat of new substitutes: There are limited substitutes for medical device cleaning due to strict regulatory guidelines which reduces the threat of new substitutes.
Competitive rivalry: The market consists of few major players leading to high competitive rivalry.
Key Takeaways
The Global Medical Device Cleaning Market Size is expected to witness high growth, exhibiting CAGR of 8.8% over the forecast period, due to increasing healthcare expenditures and rising incidence of hospital-acquired infections.
Regional analysis: North America dominated the global medical device cleaning market in 2023 and is expected grow at a high CAGR during the forecast period. The growth in the region can be attributed to increasing healthcare expenditure and stringent regulations for medical device cleaning and disinfection. Asia Pacific is expected to exhibit the fastest growth during the forecast period owing to growing medical tourism, improving healthcare infrastructure, and rising healthcare expenditure in the region.
Key players: Key players operating in the medical device cleaning market are 3M, Ecolab, STERIS, Getinge Group, and Cantel Medical, among others. 3M and Ecolab capture over 35% of the global market share due to their diverse product portfolio and strong distribution channel. Other prominent players include STERIS and Getinge Group.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
