Sterilization Services Market Growth Statistics, Gross Margins, Top Manufacturers with Strategies, Forecast Research Report 2027

A comprehensive overview of the Sterilization Services market is recently added by UnivDatos Market Insights to its humongous database. The Sterilization Services report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Sterilization Services market. The Sterilization Services report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Sterilization Services at the global and regional levels. The Global Sterilization Services Market is expected to grow at a CAGR of --% from 2021-2027 to reach US$ -- million by 2027.

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The growing number of surgical procedures performed has resulted in the increasing demand for different surgical equipment and medical devices. This is expected to drive the demand for sterilization services due to the proven benefits of sterilized products and growing awareness about their effectiveness in healthcare settings. Over the years, there has been a significant rise in the number of surgical procedures performed worldwide. According to the WHO (2019), approximately 235 million major surgical procedures are performed worldwide every year. This is attributed to the growing prevalence of obesity and other lifestyle diseases, the rising geriatric population, and the increasing incidence of spinal injuries and sports-related injuries. In addition, the growing medical device and pharmaceutical companies in emerging economies, increasing use of E-beam sterilization, reintroduction of ethylene oxide sterilization, and the growing healthcare industry and outsourcing of operation to emerging countries are expected to offer high-growth opportunities for market players during the forecast period.

With the surge in COVID-19 cases, there is an increasing focus on personal hygiene and the production of medical nonwovens and single-use products, such as face masks and gloves. This is further expected to drive the growth of the sterilization services market in the coming years. On the other hand, concerns regarding the safety of reprocessed instruments are expected to limit market growth to some extent in the coming years. This, along with the end-user noncompliance with sterilization standards, is expected to restrain the growth of this market.

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COVID-19 Impact

The pandemic has disrupted healthcare systems worldwide, with hospitals being overwhelmed due to the increasing influx of patients. Temporary hospitals are also being set up to deal with the growing number of cases. Hence, the spread of COVID-19 has spurred a surge in demand for sterilization services due to the growing cases of HAIs in hospital settings. The increasing healthcare expenditure in North America and the increasing number of temporary hospitals are some of the major factors driving the demand and uptake of sterilization services in the region.

Factors such as the increasing demand for hospital beds and ICUs in North America, proliferation of isolation facilities, increasing awareness among consumers on sterilization services for medical devices and single-use products, and preventive healthcare have greatly boosted the demand for sterilization services. Furthermore, with the current COVID-19 pandemic wreaking havoc across the globe, various measures are being taken by companies as well as government bodies to drive market growth. For instance, the FDA has recommended that Sterigenics should reopen its ethylene oxide-based sterilization plant in the US. The plant had been shut due to harmful emissions, which were believed to be carcinogenic. In March 2020, the company received permission to reopen the plant for 21 days to sterilize PPE for healthcare workers to use during the COVID-19 pandemic. Such developments are anticipated to drive the growth of this market. For instance, In 2021, STERIS acquired Cantel, a global provider of infection prevention products and services, through a US subsidiary, to diversify its vast portfolio of sterilization services.

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Global Sterilization Services Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Method, the market is primarily bifurcated into

ETO
Gamma
Steam
X-Ray
The ETO segment dominated the method segment and gathered --% of the Sterilization Services Market in 2020. Moreover, the market of this segment is expected to grow at --% CAGR to reach US$ -- million by the year 2027.

By Type, the market is primarily segmented into

Contract Sterilization
Validation Services
Based on the Type, the Contract Sterilization accounted for the largest share and is expected to grow at --% CAGR during the forecast period 2021-2027. In 2020, Contract Sterilization segment generated a revenue of US$ -- million.

By Delivery mode, the market is primarily segmented into

Off-site
On-site
Based on the Delivery mode, the Off-site accounted for the largest share and is expected to grow at --% CAGR during the forecast period 2021-2027. In 2020, web segment generated a revenue of US$ -- million.

By End User, the market is primarily segmented into

Hospitals & Clinics
Medical Device Companies
Pharmaceuticals & Biotechnology companies
Based on the End User, The Medical device companies segment would display a significant growth rate during the forecast period with a CAGR of --% attributed to the rising prevalence of HAIs, increasing adoption of single-use medical devices, the growing medical device industry, and the rising number of surgical procedures worldwide. Escalating number of medical device companies in developing countries, mounting usage of single-use products and mounting requirement to confirm sterility are the factors growing the demand of sterilization services in medical device companies. There is growth in the number of multispeciality hospitals and clinics across many countries in recent years. Moreover, with consistent growth in the number of surgical procedures, the use of medical devices and supplies have increased rapidly. Therefore, by end-users, the hospitals and clinics are expected to hold major share over the forecast period.

Sterilization Services Geographical Segmentation Includes:

North America
Europe
Asia-Pacific
Rest of the World
Based on the estimation, United States dominated the North America Sterilization Services market and is expected to grow at a CAGR of --% during the forecast period to reach the market value of US$ -- Mn by 2027. The regional growth can be accredited to supportive demographic trends like the increasing to the growing demand for and adoption of sterilization services due to the rising focus on healthy lifestyles and disease prevention among consumers. A surge in the geriatric population in the coming years and the subsequent increase in the prevalence of chronic diseases, the need for sterilization services to minimize the prevalence of HAIs, and implementation of favorable government initiatives and stringent regulations for sterilization services are also expected to propel the sterilization services market in the region. Large consumer base, rise in uptake of advanced sterilization technologies, and highly advanced health care infrastructure are expected to drive the market in North America in the next few years.

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The major players targeting the market includes

TERIS
Sterigenics U.S.
LLC – A Sotera Health company
Life Science Outsourcing, Inc.
Noxilizer
Cantel Medical
Cretex Companies
E-BEAM Servicess, Inc.
Johnson & Johnson Servicess Inc.
3M
Medline Industries, Inc.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Sterilization Services Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

What are the latest trends, new patterns, and technological advancements in the Sterilization Services Market?
Which factors are influencing the Sterilization Services Market over the forecast period?
What are the global challenges, threats, and risks in the Sterilization Services Market?
Which factors are propelling and restraining the Sterilization Services Market?
What are the demanding global regions of the Sterilization Services Market?
What will be the global market size in the upcoming years?
What are the crucial market acquisition strategies and policies applied by global companies?
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