Global Ozone Sterilizer Market - 2022-2029

Global Ozone Sterilizer Market - 2022-2029

Market Overview

Ozone Sterilizer Market size was valued US$ YY million in 2022 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 6.9% during the forecast period (2022-2029).

Ozone is used to sterilize heat- and moisture-sensitive medical devices due to its antibacterial, antiviral, and antifungal properties. Ozone sterilizer harnesses the power of ozone by producing it inside the sterilizer from medical-grade oxygen. It is widely used in hospitals, clinics, nursing homes, and other healthcare units. Ozone sterilizer is effective in producing its own sterilizing agent i.e the sterilant which does not require any transportation or physical contact by technicians. It releases only oxygen and water vapor into the environment.

MarketDynamics

The rising R&D initia tives, increasing advancements in ozone sterilizers and rising prevalence of hospital-acquired infections are expected to increase market growth during forecast period.

Increasing advancements in ozone sterilizers and rising prevalence of hospital-acquired infections are expected to drive market growth.

The market growth is driven by the rising prevalence of hospital-acquired infections which are caused by viral, bacterial, and fungal pathogens. Bloodstream infection (BSI), pneumonia, urinary tract infection (UTI), and surgical site infection (SSI) are the most common hospital-acquired infections. According to the World Health Organization (WHO), hospital-acquired infections are the most frequent adverse event in healthcare delivery worldwide. Every year, hundreds of millions of patients are suffering from hospital-acquired infections worldwide. It has been observed that of every 100 hospitalized patients at any given time, 7 in developed and 10 in developing countries would acquire at least one healthcare-associated infection.

Several organizations, associations, and institutes are providing the grants for development of ozone sterilizers. For instance, Anacail Limited was awarded a £300,000 Innovate UK Biomedical Catalyst grant, in partnership with the University of Glasgow, to develop its application of ozone in medical device sterilization and decontamination.

The market is witnessing the approval of new ozone sterilizers. Sterizone VP4 is a low-temperature sterilization system that uses dual-sterilants of vaporized hydrogen peroxide and ozone for the terminal sterilization of heat and moisture-sensitive medical devices.

For instance, in March 2019, TSO3 had received an expanded clearance from the Food and Drug Administration (USFDA) for its Sterizone VP4 sterilizer for the terminal sterilization of multi-channeled flexible endoscopes.

High cost and non-fulfillment of sterilizing regulations are expected to hamper the market growth.

High cost and non-fulfillment of sterilizing regulations are the key factors restraining the growth of market. Some adverse effects of ethylene oxide is also a factor that may restrain the growth of ozone sterilizers market in forecast period.

Industry Analysis

The global ozone sterilizer market provides in-depth analysis of the market based on various industry factors such as Porter’s Five Forces, Regulatory Analysis, Supply Chain Analysis, Pricing Analysis, Technology Advancement.

Segment Analysis/B>

Pharmaceutical Companies segment is expected to hold the largest market share in global ozone sterilizer market

The global ozone sterilizer market is segmented based on type as fixed and mobile. The mobile segment is expected to have significant market growth due to its ease of portability, lightweight and powerful. The Genlantis’s First Responder Mobile Gear Sterilizer includes a waterproof pelican case that uses a high concentration of ozone to sterilize medical and law enforcement tools in minutes. It can kill over 650 pathogens in minutes that can cause MRSA, C. Difficile, Norovirus, TB, Influenza, and Hepatitis.

Further, the market is also classified based on end-user into hospitals & clinics, pharmaceutical companies, home use, and others. The hospitals & clinics segment contributes to the highest market share due to the high demand for ozone sterilizers in the hospitals & clinics as ozone exhibits strong oxidative properties. Ozone sterilizers are used to sterilize delicate medical devices, such as endoscopes that are not efficient to withstand the high heat and humidity of standard steam autoclaving.

The pharmaceutical company segment is expected to have positive market growth due to the rising usage of ozone sterilizers by pharmaceutical companies to sterilize laboratory tools involved in sensitive experiments or assays, biopharmaceutical water systems, and equipment.

Geographical Analysis

North America region holds the largest market share in the global ozone sterilizer market

By region, the global ozone sterilizer market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the global ozone sterilizer market due to high technological advancement for developing ozone sterilizers. There is a large number of companies conducting research and development for ozone sterilizers. North America region is witnessing the drastic growth in the number of hospitals and clinics. According to the American Hospital Association, the number of hospitals is 6,146 in 2019 and is expected to increase over the forecasted period. The high prevalence of hospital-associated infections in the North American region shall stimulate market growth. Surgical site infections, central line-associated bloodstream infections, catheter-associated urinary tract infections, and ventilator-associated pneumonia are the most predominant hospital-associated infections in the United States

The Asia-Pacific region is expected to have positive market growth due to the rising number of hospital-associated infections along with the rising aging population. The elderly population is at the risk of developing hospital-associated infections owing to their low physical immunity. Several factors such as low level of hygiene in hospitals, poor infrastructure management, and poor sterilizing techniques used at healthcare institutions are increasing the number of hospital-acquired infection cases. There is an increase in the number of government initiatives for infrastructural improvements in healthcare facilities. Moreover, the Government of India is planning to increase public health spending to 2.5% of India's GDP by 2025.

Competitive Landscape

The global ozone sterilizer market is highly competitive with product diversification, revenue generation, and opportunities. Several local and international players are present in the market. TSO3 (Stryker), Aeroqual, Genlantis, Aqua Logic Incorporated, SS Technomed, and KWJ Engineering are the leading companies with a significant market share. Companies are conducting research and development activities for developing ozone sterilizers with innovation and diversification. Several new products have been launched by the players.

The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for Ozone Sterilizer and its expansion across the globe. For instance, in June 2019, TSO3 Inc. had entered into the supplier agreement with Capstone Health Alliance to supply members with sterilizers, consumables, and services at preferred prices for the duration of the contract which extended until 2021. In August 2019, TSO3 Inc. had entered into a distribution agreement with Getinge to support the commercialization of its Sterizone VP4 sterilizer.

In August 2019, TSO3 Inc. had entered a definitive arrangement agreement with Québec Inc. (a subsidiary of Stryker Corporation). Under the terms of the agreement, Québec Inc. had acquired all of the issued and outstanding common shares of TSO3 Inc. for USD 0.43 in cash per share.

The market players are also investing to increase their production capabilities around the globe. For instance, In August 2019, TSO3 Inc. had inked a $20 million debt financing deal with a fund under advisement by Courage Capital Management to support the commercialization of its Sterizone VP4 sterilizer.

Key Companies to Watch

TSO3 (Stryker):

Overview: It is an American company that manufactures innovative medical devices provided low temperature sterile reprocessing solutions. Found in 1998 and headquartered in Canada, United States.

Product Portfolio:

Sterizone VP4 Sterilisers: it is a low temperature sterilization system that uses vaporised hydrogen peroxide and ozone, dual sterilants in order to acquire terminal sterilization of moist and heat sensitive medical devices.

Key Developments: In Nov 2019, Stryker Corporation acquired TSO3 a company that innovates sterilization technology with low-temperature for medical devices.

The global ozone sterilizer market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.