Wilmington, Delaware, United States, Transparency Market Research Inc.: 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.
Wilmington, Delaware, United States, Transparency Market Research Inc.: 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 sterilization facilities or on-site i.e.,at the customer’s location. Modality used for sterilization differs according to the device or product to be sterilized.
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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.
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Rise in Prevalence of Hospital-acquired Infectionsto Drive Global Market
Rise in prevalence of hospital-acquired infections across 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 Services Market
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 been bifurcated into ethylene oxide and others. The radiation modalities segment has been categorized into gamma, electron beam, and others.The gas modalities segment 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 demand for gas modality,and high acceptance of gas sterilization services are anticipated to fuel the growth of the segment during the forecast period.
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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 providers offering customized sterilization services,and establishment of new sterilization facilities across the globe
Offsite Sterilization Services to be Key Mode of Delivery
In terms of mode 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 services segment can 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.
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Medical Device Companies to be Major End Users
Based on end user, the global sterilization services market 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 market during 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 segmented into 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 sterilization are 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.
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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.
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