Sterilization Services Market: Rise in Number of Hospital-acquired Infections to Increase Demand
Sterilization Services Market: Introduction
According to the report, the global sterilization services market was valued at US$ 3.1Bn in 2018 and is projected to expand at a CAGR of ~7% from 2019 to 2027. Sterilization service providers offer sterilization of various supplies such as medical devices, instruments, pharmaceuticals, and other products. The services can be provided either at the sterilizationfacilities or on-site i.e.,at the customer’s location. Modality used for sterilization differs according to the device or product to be sterilized.Increase in the number of surgeries, growth of the pharmaceutical &biotechnology industry, and rise in number of hospital-acquired/associated infections are the major factors anticipated to drive the global sterilization services market during the forecast period. North America held major share of the global market in 2018 due to increase in demand for new modalities for medical device sterilization and facility expansion by service providers. Additionally, increase in emphasis on sterile medical supplies is expected to boost the growth of the market in North America during the forecast period.
The sterilization services market in Asia Pacific islikely to expand at ahigh CAGR of 8.2%from 2019 to 2027. Increase in number of surgical procedures and rise in number of sterilization service providers are likely to fuel the growth of the market in the region.
Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=53523
Rise in Prevalence of Hospital-acquired Infectionsto Drive Global Market
Rise in prevalence of hospital-acquired infectionsacross the world is projected to augment the global sterilization services market during the forecast period.According to the U.S. Department of Health and Human Services, an estimated one in every 20 infections is hospital-acquired infection in the U.S. The organization also stated that it is a significant cause of mortality across the globe.According to the Centers for Disease Control and Prevention (CDC), 5% to 10% of hospitalized patients contract hospital-acquired infection, while 1.6 million to 3.8 million infections reported in long-term care facilities each year.
Gas Modalitiesto Dominate Sterilization ServicesMarket
In terms of method, the global sterilization services market has been classified into gas modalities, radiation modalities, steam, and others. The gas modalities segment has beenbifurcated into ethylene oxide and others. The radiation modalities segment has been categorized into gamma, electron beam, and others.The gas modalitiessegment dominated the market in 2018 and the trend is projected to continue during the forecast period. Extensive use of ethylene oxide for sterilization of medical devices, increase in demandfor gas modality,and highacceptance of gas sterilization services are anticipated to fuel the growth of the segment during the forecast period.
Request for Analysis of the COVID19 Impact on Sterilization Services Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=53523
Contract Sterilization Servicesto Witness High Demand
Based ontype, the global sterilization servicesmarket has been split into contract sterilization services and sterilization validation services. The contract sterilization services segment accounted for the largest market share in 2018.The contract sterilization services segment is likely to dominate the market during the forecast period, owing to increase in availability of sterilization services, rise in number of services providersoffering customized sterilization services,and establishment of new sterilization facilities across the globe
Offsite Sterilization Services to be Key Mode of Delivery
In terms ofmode of delivery, the global sterilization services market has been divided into offsite sterilization services and onsite sterilization services. The offsite sterilization services segment held major share of the global sterilization servicesmarket in 2018. Large share of the off-site sterilization servicessegmentcan be attributed to increase in number of service providers having large capacity sterilization facilities,and rise in focus on reducing emission of ethylene oxide from these facilities.
Request for Custom Research - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=53523
Medical Device Companies to be Major End Users
Based onenduser, the global sterilization servicesmarket has been classified into medical device companies, hospitals & clinics, food & beverages, pharmaceuticals, and others.The medical device companies segment is likely to dominate the global marketduring the forecast period, owing to the increase in demand for sterile surgical instruments and rise in number of medical device manufacturers, especially in Asia Pacific.
North America to Dominate Global Market; Asia Pacific to Offer Significant Incremental Opportunities
In terms of region, the global sterilization services market has been segmentedinto North America, Europe, Latin America,Asia Pacific, and Middle East &Africa. North America is projected to account for a major share of the market during the forecast period. Rise in preference for advanced surgical procedures and increase in awareness about radiation modalities for sterilizationare the major factors likely to drive the market in North America.The sterilization services market in Asia Pacific is anticipated to grow at a rapid pace in the next few years. China is expected to be a lucrative market for sterilization services during the forecast period. Regulatory approvals for sterilization &irradiation centers, rise in prevalence of chronic health conditions, including lifestyle disorders, and increase in focus onquality control in healthcare institutes are projected to boost the growth of the market in the region.
Growth Strategies of Key Players
Leading players operating in the global sterilization services market include E-BEAM Services, Inc., MEDISTRI SA, BGS Beta-Gamma-Service GmbH & Co. KG, Sterigenics U.S., LLC – A Sotera Health company, Cosmed Group, Noxilizer, Microtrol Sterilization Services Pvt. Ltd., Midwest Sterilization Corporation, Andersen Caledonia, Sterilization Services, Steri-Tek, Cantel Medical Corp., Steris plc., WuXi AppTec, Avantti Medi Clear, and Viant. Facility expansion, regulatoryapprovals, and expansion in new geographic locations across the world are the key strategies adopted by prominent service providers operating in the global sterilization services market.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street,
Albany NY - 12207United States
USA - Canada Toll Free: 866-552-3453