Global Sterilization Services Market Size to Worth USD 6.90 Billion By 2032 | CAGR of 6.2%
SPHERICAL INSIGHTS LLP
7 min read
SPHERICAL INSIGHTS LLP
The Global Sterilization Services Market Size was valued at USD 3.78 Billion in 2022 and the Worldwide Sterilization Services Market Size is expected to reach USD 6.90 Billion By 2032. according to a research report published by Spherical Insights & Consulting, Companies Covered: BeamOne, LLC, Noxilizer Inc., Medistri SA, Judd Medical Limited, E-BEAM Services Inc., Cantel Medical Corporation, Stryker Corporation (TSO3 Inc.), BGS Beta-Gamma-Service GmbH & Co. KG, B Braun Melsungen AG, Prince Sterilization Services, LLC, Sterigenics, LLC and Other key vendors.
New York, United States, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The Global Sterilization Services Market Size is to Grow from USD 3.78 Billion in 2022 to USD 6.90 Billion by 2032, at a Compound Annual Growth Rate CAGR of 6.2% during the forecast period.
Sterilization services are essential healthcare procedures designed to eliminate or kill microorganisms on medical equipment, surfaces, or materials to prevent the spread of infections. These services use various methods such as heat, chemicals, radiation, or filtration to achieve sterility. Ensuring the safety of patients and healthcare professionals, sterilization plays a critical role in hospitals, clinics, and laboratories, enabling the reuse of medical devices while maintaining high hygiene standards. Properly executed sterilization procedures are crucial in preventing the transmission of pathogens and maintaining aseptic conditions in healthcare settings, contributing to improved patient outcomes and infection control.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the “Global Sterilization Services Market Size, Share, and COVID-19 Impact Analysis, By Method (Ethylene Oxide (ETO) Sterilization, Gamma Sterilization, Steam Sterilization, Electron Beam, Radiation Sterilization, and Others), By Business Type (Contract Sterilization Services and Sterilization Validation Services), By End User (Medical Device Companies, Hospitals & Clinics, Pharmaceutical & Biotechnology Industry, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032".
The gamma sterilization segment is expected to grow at a higher CAGR of around 6.4% during the forecast period Based on the method, the global sterilization services market is segmented into ethylene oxide (ETO) sterilization, gamma sterilization, steam sterilization, electron beam, radiation sterilization, and others. The gamma sterilization segment is anticipated to witness higher growth during the forecast period due to several compelling factors. Gamma sterilization offers distinct advantages, including its ability to penetrate various materials deeply and uniformly, ensuring effective sterilization of bulk items and large batches of products. This method does not require the use of chemicals, making it an eco-friendly option. Additionally, gamma sterilization is a quick process, leading to increased efficiency in large-scale sterilization operations. The rising demand for safe and efficient sterilization solutions in healthcare, pharmaceuticals, and food industries is expected to drive the adoption of gamma sterilization, contributing to its higher growth rate in the forecast period. The medical device companies segment held the largest market share with more than 45.8% in 2022. Based on the end-use, the global sterilization services market is segmented into medical device companies, hospitals & clinics, the pharmaceutical & biotechnology industry, and others. The medical device companies segment holds the largest market share in the sterilization services industry due to its significant demand for reliable and efficient sterilization solutions. Medical device companies produce a wide array of instruments and equipment that require strict sterilization to ensure patient safety and regulatory compliance. These companies often outsource their sterilization needs to specialized contract sterilization providers to maintain focus on their core manufacturing processes. As the medical device industry continues to expand, driven by advances in healthcare technologies and increasing global healthcare needs, the demand for sterilization services from medical device companies is expected to remain robust, solidifying their dominant market position. Inquire Before Buying This Research Report:https://www.sphericalinsights.com/inquiry-before-buying/2493
Asia-Pacific is predicted to grow at a significant CAGR of around 6.5% over the projected period.
Based on region, Asia-Pacific is poised to experience substantial growth in the sterilization services market during the forecast period. The region's growing population and increasing awareness of healthcare-associated infections drive the demand for effective sterilization practices in medical facilities. Additionally, the rising number of hospitals, clinics, and pharmaceutical companies in Asia-Pacific fuels the need for reliable sterilization services. Moreover, the escalating prevalence of chronic diseases and the consequent surge in surgical interventions further boost the market. Furthermore, economic development and increased healthcare expenditure in countries like China, India, and Japan create a conducive environment for the growth of the sterilization services market in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global sterilization services market include BeamOne, LLC, Noxilizer Inc., Medistri SA, Judd Medical Limited, E-BEAM Services Inc., Cantel Medical Corporation, Stryker Corporation (TSO3 Inc.), BGS Beta-Gamma-Service GmbH & Co. KG, B Braun Melsungen AG, Prince Sterilization Services, LLC, Sterigenics, LLC and Others.
In October 2022, BD India collaborated with the Raja Ramanna Centre for Advanced Technology (RRCAT), a government organization, to sterilize one of its medical devices, Venflon Pro, using electron beam (e-beam) technology at the RRCAT facility in Indore. The facility sterilizes medical items using e-beam technology.
Market Segment This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global sterilization services market based on the below-mentioned segments: Sterilization Services Market, By Method
Ethylene Oxide (ETO) Sterilization
Gamma Sterilization
Steam Sterilization
Electron Beam
Radiation Sterilization
Others
Sterilization Services Market, By Business Type
Contract Sterilization Services
Sterilization Validation Services
Sterilization Services Market, By End-User
Medical Device Companies
Hospitals & Clinics
Pharmaceutical & Biotechnology Industry
Others
Sterilization Services Market, Regional Analysis
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of Middle East & Africa
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