The Sterilization Services Market was valued at US$ 3,023.50 million in 2021 and is projected to reach US$ 4,717.56 million by 2028; it is expected to grow at a CAGR of 6.6% from 2021 to 2028.
The Sterilization Services Market was valued at US$ 3,023.50 million in 2021 and is projected to reach US$ 4,717.56 million by 2028; it is expected to grow at a CAGR of 6.6% from 2021 to 2028.
Sterilization is a process that helps in the elimination, removal, or deactivation of all life forms other biological agents that may be present in food, the surface of an article or in a fluid, etc. Sterilization is performed through various methods such as heat, chemicals, irradiation, high pressure, and filtration. Usually, a third party provides contract-based sterilization service to multiple industries such as hospitals, food, and beverage industry pharmaceutical companies, consumer, and industrial communities.
The sterilization services market is segmented and analyzed on the bases of method, service type, mode of delivery, end user, and geography. The market, by geography, is segmented into 5 major regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. The report offers the in-depth analysis of the sterilization services market, with a major emphasis on parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis based on leading market players’ performances.
Request for Sample of Sterilization Services Market to know which pharma-biotech company is expected to be at the forefront in the coming years @ https://www.theinsightpartners.com/sample/TIPRE00004899/
Key point Takeaway in Sterilization Services Market
BGS Beta-Gamma-Service GmbH & Co. KG, Cosmed Group, E-BEAM Services Inc, Life Science Outsourcing Inc., MEDISTRI SA, Midwest Sterilization Corporation, Sotera Health Company, Microtrol Sterilisation Services Pvt Ltd., STERIS plc., and Scapa are among the leading companies operating in the sterilization services market.
Based on method, the sterilization services market is segmented into ethylene oxide (ETO) sterilization, gamma sterilization, electron beam radiation sterilization, steam sterilization, and other sterilization methods. The ETO Sterilization segment is expected to hold the largest share of the market in 2021; however, the electron beam radiation sterilization segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on service type, the sterilization services market is segmented into contract sterilization services and sterilization validation services. The contract sterilization services segment is estimated to hold a larger market share in 2021, and it is further expected to register a higher CAGR during 2021–2028. Growth of the contract sterilization services segment is attributed to increased demand of custom services in the sterilization industry.
Based on mode of delivery, the sterilization services market is segmented into offsite sterilization services and onsite sterilization services. The offsite sterilization services segment would hold a larger market share in 2021, while the onsite sterilization services segment is expected to register a higher CAGR in during the forecast period. The growth of the market for offsite sterilization services is attributed to the increasing number of service providers and rising trend of outsourcing sterilization services.
The sterilization services market, by end user, is segmented into medical device companies, pharmaceutical and biotechnology companies, hospitals and clinics, food and beverages, and other end users. The medical device companies segment is expected to hold the largest share of the market in 2021, and the it is anticipated to register the highest CAGR from 2021 to 2028.
As the COVID-19 pandemic started spreading ruthlessly worldwide, the healthcare facilities were overwhelmed by the large number of patients in 2020. Frequent sanitization of the surfaces and sterilization became a necessity to prevent the spread of infection. In addition, the US Centers for Disease Control and Prevention (CDC) published sterilization and disinfection guidelines for medical facilities along with the need to sterilize medical devices that enter sterile tissue or a patient’s vascular system. However, before the COVID-19 crisis, concerns regarding ETO’s emissions led to the shuttering of ETO production plants across the US. Amid the pandemic, several facilities got permission to reopen and meet sterilization needs. For instance, in March 2020, the US Environmental Protection Agency (EPA) with the Georgia Environmental Protection Division (EPD) increased production safely and quickly at sterilization facilities in Covington and Madison to address the challenges introduced by the dramatic increased rise in need for sterile medical equipment.
Increasing Prevalence of Healthcare-Associated Infections Boosts Sterilization Services Market Growth
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, insufficient equipment, 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. As per the WHO, Out of every 100 hospitalized patients, 7 in developed and 10 in developing countries are expected to acquire at least one healthcare-associated infection. In high-income countries, ICU acquired infection affects about 30% of patients with at least one healthcare-associated infection. In low- and middle-income countries, ICU-acquired infection is approximately 2─3 fold higher than high-income countries.
Interested in Purchasing this Report? Click here @ https://www.theinsightpartners.com/buy/TIPRE00004899/
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense, Food & beverage, Chemical and Materials, Semiconductors. Etc.
Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com