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The global sterilization wrap market size was valued at USD 376.1 Million in 2018 and is projected to reach USD 661.5 Million by 2032, exhibiting a CAGR of 4.1% during the forecast period (2018-2032).
As per data published in the Journal of Ophthalmic Science and Research in 2018, an estimated 20.0% of hospital admissions occur due to hospital-associated infections in emerging nations. Sterilization wrap offers extensive benefits in infection-free equipment handling as well as safety in equipment transport from one location to another. Additionally, sterilization wrap offers aeration for surgical equipment, also it provides enough permeability for effective penetration of sterilants such as steam, ethylene oxide, plasmas, ozone, and others.
Sterilization wrap plays a major role in maintaining the safety of patients as well as healthcare resources. The increasing prevalence of hospital-associated infections, especially microbial infections, and comparatively lower costs of sterilization wrap are projected to boosts the growth of the sterilization wrap market during the forecast period.
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"Increasing prevalence of hospital-associated infections and surgical site infections are expected to drive the sterilization wrap market"
Plastic & polymer material segment accounted for 77.2% in the sterilization wrap market share in 2018. Climbing prevalence of surgical site infections as well as hospital-associated infections and a growing emphasis on patient safety are prominently driving the growth of the global market.
According to the Centers for Disease Control and Prevention (CDC), an estimated 99,000 patient causes death in the U.S. due to hospital-associated infections, also 22.0% of deaths are caused due to surgical site infections each year. Combined with this, major benefits offered by plastic & polymer sterilization wraps such as improved safety, nominal costs, prevention from bacterial infection and effective equipment handling are expected to boost the expansion of the sterilization wrap market size during the forecast period.
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Based on the material type, the sterilization wrap market segments include plastic & polymer, paper & paperboard, and others. In 2018, plastic & polymer held an estimated 77.2% of the share in the market. In terms of end-user, the global market is categorized into hospitals, ambulatory surgery centers (ASCs), and clinics & others. The hospital's segment accounted for maximum share in the market in 2018, owing to the higher adoption of the sterilization wrap, most prominently in developed countries.
"Extensively Higher Adoption of Nonwoven Sterilization Wrap Enables Market to Hold Considerable Share in North America"
North America generated a revenue of US$ 174.1 Mn in 2018 and is expected to dominate the market throughout the forecast period, owing to the higher awareness towards using sterilization wraps to control the prevalence of `hospital-associated infections, surgical site infections, and growth in the implementation of safety measures.
Moreover, in Europe, improving healthcare infrastructure and growing emphasis on patient safety are expected to accelerate the adoption of sterilization wrap. The Asia Pacific also holds huge potential for sterilization wrap market growth owing to rise in infections and growth in deaths caused due to microbial infections. Additionally, a growing number of hospitals as well as an increasing number of surgical procedures offers a higher opportunity for infections, which will eventually increase the demand for the product and drive sterilization wrap market revenue in the Asia Pacific.
North America Sterilization Wraps Market, 2017
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"Owens & Minor Inc. & Ahlstrom-Munksjo to Account for More Than Half of the Market Share in Terms of Revenue"
In May 2018, Owens & Minor entered into sterilization wraps industry by acquiring Halyard's Surgical and Infection Prevention (S&IP) business. Owens & Minor has become a leading player in the sterilization wrap market and considered to dominate in the market during the forecast duration owing Halyard's diverse product offering in sterilization wrap segment, efficient customer reach, and strong brand presence. This company together with Ahlstrom-Munksjo currently holds over half of the market share in terms of revenue. Other players operating in the global market are Dynarex Corporation, Cygnus Medical, DuPont, Cardinal Health, Crosstex International, Inc., Medline Industries, Inc., Surgeine Healthcare (India) Private Limited, Westfield Medical Limited, and others.
An Infographic Representation of Sterilization Wraps Market
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In order to prevent bacterial or viral contamination in surgical equipment, certain practices must be inculcated by healthcare resources; sterilization wraps, are used to sterilize surgical equipment in order to prevent infections and contaminations. Sterilization wrap offers extensive benefit in infection-free equipment handling as well as safety in equipment transport from one location to another. Additionally, sterilization wrap offers aeration for surgical equipment, also it provides enough permeability for effective penetration of sterilants such as steam, ethylene oxide, plasmas, ozone and others. Sterilization wrap plays a major role in the patient as well as healthcare resource’s safety.
The sterilization wrap market report provides qualitative and quantitative insights on the market trends and detailed analysis of market size and growth rate for all possible segments in the market. The market is segmented by material, by the end-user, and by region. On the basis of the material type, the market is segmented into plastic & polymer, paper & paperboard, and others. Various end-users covered under the report are hospitals, ambulatory surgery centers, and clinics & others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
Along with this, the report analysis includes market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of sudden hospital-acquired infections in key countries, technological advancements in sterilization wraps, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, new products launches, and key industry trends.
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As per our (Fortune Business Insights) study, the sterilization wrap market is predicted to reach USD 512.1 million by 2026.
In 2018, the sterilization wrap market was valued at USD 376.1 million.
The sterilization wrap market is projected to grow at a CAGR of 4.0% during the forecast period (2019-2026).
The plastic & polymer is the leading segment in the sterilization wrap market by material type.
Increasing prevalence of hospital-associated infections combined with growing awareness about the application of sterilization wraps and increase in the product launches through the collaborations among key players are the key factors driving the sterilization wraps market growth.
Owens & Minor Inc., Ahlstrom-Munksjo, Dynarex Corporation, Cygnus Medical, DuPont, Cardinal Health, Crosstex International, Inc., Medline Industries, Inc., Surgeine Healthcare (India) Private Limited are the top players in the sterilization wraps industry.
North America is expected to hold the highest share in the sterilization wrap market.
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