At CAGR 6.3% Sterilization Services Market Hits US$ 4,400.18 million by 2027 Says, The Insight Partners

According to The Insight Partners market research study of ‘Sterilization Services Market to 2027 - Global Analysis and Forecasts by Method, Service Type, Mode of Delivery and End-User’. The global Sterilization Services market is anticipated to reach US$ 4,400.18 Mn in 2027 from US$ 2,712.32 Mn in 2019. The market is anticipated to grow with a CAGR of 6.3% from 2020-2027. The report provides trends prevailing in the global sterilization services market and the factors driving market along with those that act as hindrances.

Sterilization is a process that helps to eliminate, removes, or deactivates all forms of life and other biological agents present in food, the surface of an article or in a fluid, etc. Sterilization can be done through various means such as heat, chemicals, irradiation, high pressure, and filtration.

The global sterilization services market, based on method, has been segmented into ethylene oxide (ETO) sterilization, gamma sterilization, electron beam radiation sterilization, steam sterilization, and other sterilization methods.

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Sterilization Services Market: Competitive Landscape

Leading companies operating in the sterilization services market are BGS Beta-Gamma-Service GmbH & Co. KG.,Cosmed Group,E-BEAM Services Inc ,Life Science Outsourcing Inc.,MEDISTRI SA Midwest Sterilization Corporation ,Sterigenics U.S. LLC, Microtrol Sterilisation Services Pvt Ltd., Cantel Medical., STERIS plc., Inc. among Others.

Increasing Prevalence of Healthcare Associated Infections

Millions of people across the world get affected by HAIs (healthcare-associated infections) while receiving health treatments. Factors such as inadequate hygiene environment conditions, poor infrastructure absence of guidelines, and lack of knowledge regarding infection control measures are increasing the prevalence of HAIs. The common HAIs caused by inadequate sterilization procedures are hepatitis B and C, surgical site infections (SSI), HIV infection, urinary and vascular catheter-associated infections, and ventilator-associated infection. Healthcare-associated infections create additional suffering for patients, increase hospital stays with high cost, and resists the function of antimicrobials. According to the WHO, annual expenditure due to healthcare-associated infections is estimated to be approximately US$ 7.7 billion in Europe and US$ 6.5 billion in the US. The above mentioned facts highlight the importance of sterilization in the healthcare domain to prevent HAIs. Lack of sterilization in surgical instruments and reusable objects such as endoscopic devices, respiratory care devices, and hemodialysis devices, lead to HAIs.

The ethylene oxide (ETO) sterilization segment held the largest share of the market. ETO is colorless gas that is commercially used in a variety of applications, such as the production of textiles, and the sterilization of personal care items and medical devices. It is the most common and crucial sterilization method during surgical procedures and other medical treatments. The process involves exposing products to ETO gas under vacuum in a sealed chamber. ETO has an ability to penetrate multiple layers of packaging, making it suitable for the broad range of materials. The size, shape, and material composition of many medical devices make ETO the most suitable sterilization method as other methods such as steam and radiation do not provide the required levels of sterility. Moreover, using non-ETO sterilization methods might result in material degradation of several devices, compromising product safety for patients.

Sterilization Services Market Segmentation Review

The global sterilization services market, based on mode of delivery, has been segmented into offsite sterilization services and onsite sterilization services. The offsite sterilization services segment held the largest share of the market, by mode of delivery. Hospital infections pose various challenges to health centers. Healthcare-associated infections increase the hospitalization period and complications in patient condition. Currently, the healthcare services market is changing rapidly. There is an intense competition among service providers, and policies governing the industry are continually evolving. With regard to sterilization, many hospitals are opting offsite sterilization services.

The offsite sterilization services held the largest market share in the mode of delivery segment and is expected to dominate the market during the forecast period. The increasing number of service providers and rising trend of outsourcing sterilization services are prime factors to fueling the growth of the market for offsite delivery of sterilization services.

Global Sterilization Services Market – By Service Type

  • Clinical Trials
  • Toxicology
  • Market Authorization and Regulatory Support
  • Others

Global Sterilization Services Market – By Application

  • Pet
  • Livestock
  • Wild

Global Sterilization Services Market – By Indication

  • Oncology
  • Infectious Diseases
  • Neurology
  • Others

Global Sterilization Services Market – By End User

  • Biopharmaceutical Companies
  • Others

Sterilization Services Market Research Study at:  https://www.theinsightpartners.com/buy/TIPRE00004899/

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