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Sterilization Services Market (Type - Contract Services, and Validation Services; Method - Steam, Ethylene Oxide, Gamma, E-beam, and Others; End User - Hospitals & Clinics, Medical Device Companies, Pharmaceutical & Biotechnology Companies, and Other End Users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : July, 2021

  • Rep Id : HC08693

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on sterilization services market provides in-depth analysis of segments and sub-segments in the global as well as regional sterilization services market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional sterilization services market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global sterilization services market. According to the report, the global sterilization services market is projected to grow at a CAGR of 7.2% over the forecast period of 2021-2027.

 

Sterilization Services Market


Market Insight

Sterilization services are utilized by the medical technology industry to rid medical and diagnostic devices of bacteria and other microorganisms. Such services include electron beam (E-beam) sterilization, ethylene oxide sterilization, steam sterilization, Gamma sterilization, and other procedures. Sterilization services are necessary for ensuring that medical and surgical instruments do not spread infectious pathogens to patients. End users like hospitals & clinics, medical device companies, pharmaceutical & biotechnology companies are increasingly adopting sterilization services throughout their production lines. Governments and regulatory bodies mandate sterilization in the healthcare industry to maintain compliance with Good Manufacturing Practices (GMP).

 

The sterilization services market was valued at around approx. 6.7 billion in 2021 and is expected to reach USD upto 10.1 billion in 2027, with a CAGR of 7.2% during the forecast period. The high incidence of hospital-acquired infections and the increasing number of surgical procedures are major driving factors for the global sterilization services market. Hospital-acquired infections include catheter-associated urinary tract infections, central line-associated bloodstream infections, surgical site infections, ventilator-associated pneumonia, hospital-acquired pneumonia, and Clostridium difficile infections. These infections are seen at an individual patient level as well as the community level as they have been linked to multidrug-resistant infections. Furthermore, Aging populations are at a higher risk of developing a host of diseases and conditions necessitating the need for surgical interventions. This trend will drive higher volumes of surgical procedures, generating high demand for sterilization services. However, high equipment costs and lack of awareness about sterilization hindering the growth of the market. Moreover, rising medical device and pharmaceutical companies in emerging economies are expected to provide growth opportunities to the market players. Currently, as the entire health care system is primarily focused on containing and preventing this virus, an exponential demand for hygiene products. At the beginning of the pandemic, it became clear that sterilization services were a priority. The demand for sterilization services has soared up across the globe due to the COVID-19 outbreak in 2020. The surging demand for sterilization services in relation to the COVID-19 outbreak has led to numerous companies providing sterilization services.

 

On the basis of geography, the global sterilization services market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to hold a premium share in the global sterilization services market. The United States has a maximum share in the sterilization services industry. The easy availability of advanced healthcare technologies, high research & development investment by market players are driving the demand for sterilization services in this region. Asia-Pacific region is expected to grow in the global sterilization services market with a healthy CAGR over the forecast period. The growing healthcare industry and increasing government initiatives for hygiene and sanitation in Asia-Pacific fuel the growth of the Asia-Pacific sterilization services market.

 

Segment Covered

The report on global sterilization services market covers segments such as type, method, and end user. On the basis of type, the sub-markets include contract services, and validation services. On the basis of method, the sub-markets include steam, ethylene oxide, gamma, e-beam, and others. On the basis of end user, the sub-markets include hospitals & clinics, medical device companies, pharmaceutical & biotechnology companies, and other end users.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Stryker Corporation, B. Braun Melsungen, Cantel Medical Corporation, Centurion Medical Products (Medline), COSMED Group, Amcor, Cretex Companies, E - Beam Services, Inc., Johnson & Johnson, Life Science Outsourcing, Inc., and Medistri SA.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of sterilization services market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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