Sterilization Services Market to grow up to USD 9.1 billion by 2031, at a CAGR of 11.0%

New York, The Global Sterilization Services Market was valued at USD 3.2 billion in 2021 and it is anticipated to grow up to USD 9.1 billion by 2031, at a CAGR of 11.0% during the forecast period.

Global Sterilization Services Market report from Global Insight Services is the single authoritative source of intelligence on Sterilization Services Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Sterilization services are recognized as the way of eliminating unwanted microorganisms present in the environment. In sterilization services, physical or chemical methods are used to kill spore, microbes, and viruses. In hospitals & other medical facilities, the risk of cross-infection from equipment, surface & skin of patient, and healthcare staff as well as contamination of pharmaceutical or other products has increased considerably. Thus, sterilization services serve as an ideal method to inhibit the growth of microorganisms. Different types of sterilization services include ethylene oxide (ETO) sterilization, gamma sterilization, and e-beam sterilization.

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Market Trends and Drivers
Growing prevalence of hospital-acquired infections (HAIs) will positively impact the market growth during the forecast period. Hospital-acquired infections (HAIs) are nosocomial infections that occur during a patients stay at hospitals and related facilities and are not observed at the time of admission. Over the years, they have become a major cause of morbidity and mortality worldwide. The most common bacteria associated with HAIs include C. difficile, MRSA, Klebsiella, E. coli, Enterococcus, and the Pseudomonas species. Using infected medical devices during diagnostic and therapeutic procedures is a major cause of HAIs. According to the Centers for Disease Control and Prevention (CDC), up to 1.7 million hospitalized patients in the US annually acquire healthcare-associated infections (HCAIs) while being treated for other health issues, and more than 98,000 of these patients (one in 17) die due to HCAIs.

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Global Sterilization Services Market Segmental Overview
The report analyses the global sterilization services market based on method, type. Mode of delivery, end use, and region.

Global Sterilization Services Market by Method

Based on method, it is segmented into ETO sterilization, gamma sterilization, and e-beam sterilization, Steam Sterilization, X-ray Irradiation and Others. The ETO sterilization segment accounted for the largest share of the global sterilization services market in 2021. This is due to the extensive usage in various applications, including medical device sterilization, food testing, pharmaceutical sterilization, and sterilization and disinfection in the life sciences industry. Moreover, the main advantage is that it can sterilize heat- or moisture-sensitive medical equipment without deleterious effects on the material used in the medical devices. However, disadvantages associated with ETO are the lengthy cycle time, the cost, and its potential hazards to patients and staff such factors impede the segmental growth over the analysis timeframe.

Global Sterilization Services Market by Type

Based on type, it is segmented into contract sterilization services and sterilization validation services. The contract sterilization services segment accounted for the highest CAGR of the sterilization services market during the forecast period. The growing preference for contract sterilization by medical device companies and the increasing outsourcing of sterile processing by hospitals to specialized third-party vendors to reduce in-house costs related to sterilization are the major factors driving the growth of this segment.

Global Sterilization Services Market by Mode of Delivery

Based on mode of delivery, it is segmented into off-site sterilization services, and on-site sterilization services. The off-site sterilization services segment is likely to dominate the market during the forecast period. The limited availability of space in in-house sterile processing departments, better efficiency of contract sterilization processes than in-house sterilization, greater output with less financial risk, and cost reduction benefits are the key factors supporting the growth of the off-site sterilization services segment.

Global Sterilization Services Market by End-use

Based on end-use, it is segmented into hospitals & clinics, medical device companies, pharmaceutical & biotechnology companies, and others. The medical device companies segment accounted for the largest share of the sterilization services market in 2021. Growth in this market is majorly attributed to the rising prevalence of HAIs and increasing adoption of single-use medical devices. Moreover, growing medical devices industry, rising number of surgical procedures worldwide and increase in outsourcing of sterilization services among pharmaceutical & medical device companies across the globe will propel the segmental as well as overall market growth.

Geographical Analysis of Global Sterilization Services Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the sterilization services market and accounted for the largest revenue share in 2021 and expected to witness considerable growth over the forecast period. Growing demand and adoption of sterilization services because of 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 propelling the sterilization services market in the region.

Major Players in the Global Sterilization Services Market
The key players in the market are STERIS plc (US), Sotera Health Company (US), Stryker Corporation (US), Advanced Sterilization Products (ASP, US), E-BEAM Services, Inc. (US), MMM Group (Germany), Belimed AG (Switzerland), BGS Beta-Gamma-Service GmbH & Co. KG (Germany), Medistri SA (Switzerland), Noxilizer, Inc. (US), and among others

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