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Safeguarding Health: Advances in Irradiation Sterilization Services
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According to The Business Research Company's, The irradiation sterilization services market size has grown rapidly in recent years. It will grow from $2.34 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to medical industry growth, regulatory standards, technological advancements, pharmaceutical and biotechnology growth, and food safety concerns.
The irradiation sterilization services market size is expected to see rapid growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing healthcare expenditure, the expansion of pharmaceutical and biotechnology sectors, technological innovations, regulatory pressures, rising awareness of food safety, and the aftermath of the COVID-19 pandemic. Major trends in the forecast period include the adoption of advanced technologies, geographical expansion, outsourcing of sterilization services, sustainable practices, hybrid sterilization techniques, and customized sterilization solutions.
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Market Drivers and Trends:
The increase in demand for non-invasive facial surgical procedures is expected to propel the growth of the facial rejuvenation market. Non-invasive facial procedures are cosmetic treatments that improve the appearance of the face without requiring surgery or large incisions. The surging demand for non-invasive facial procedures is due to minimal downtime, less invasive, reduced risk, and natural-looking results. Facial rejuvenation uses non-invasive procedures to reduce the appearance of wrinkles and fine lines by temporarily paralyzing the muscles responsible for creating them. For instance, in September 2023, according to the global survey of 1,000 attendees from 90 countries conducted by the International Society of Aesthetic Plastic Surgery (ISAPS), a US-based professional body for board-certified aesthetic plastic surgeons, the Botulinum toxin (a non-invasive procedure) treatments performed by plastic surgeons globally in all age groups in 2022, was over 9 million, marking a 26.1% increase. Therefore, the surging demand for non-invasive facial surgical procedures is expected to propel the growth of the facial rejuvenation market.
Major companies operating in the irradiation sterilization services market are developing innovative products, such as cloud-based comprehensive disinfection technology solutions, to serve customers with advanced features better. Cloud-based comprehensive disinfection technology solutions refer to systems that use the power of the cloud to manage and optimize disinfection processes in facilities such as hospitals. For instance, in April 2021, Unimech Healthcare, an India-based provider of safe and smart air and surface purification solutions, launched UniClean, a cloud-based comprehensive disinfection technology solution powered by ultraviolet germicidal irradiation (UVGI) for air and surface sterilization. This technology leverages cloud computing to provide real-time monitoring, control, and data analytics to ensure optimal disinfection performance and compliance with hygiene standards. This innovative system offers 99.99% virus-free sterilization of air and surfaces in various settings, such as offices, industries, and hospitals.
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Major Key Players of the Market:
3M Company, Steris plc, Röchling SE & Co. KG, Getinge AB, Sotera Health, Sterigenics N.V., Scapa Group Ltd., IBA Industrial, Nordion Inc., Steritech Pty Ltd., Synergy Health plc, E-BEAM Services Inc., VPT Inc., Swann-Morton Limited, Ionisos SAS, Taisei Kako Co. Ltd., BGS Beta-Gamma-Service GmbH & Co. KG, SteriTek, Gamma Service Recycling GmbH, Microtrol Sterilisation Services Pvt. Ltd., China Biotech Corporation, BBF Sterilisationsservice GmbH, Symec Engineers
Irradiation Sterilization Services Market 2024 Key Insights:
• The irradiation sterilization services market size is expected to see rapid growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%.
• Rising Prevalence Of Healthcare-Associated Infections Fuels Growth Of Irradiation Sterilization Services
• Innovative Cloud-Based Disinfection Technology Solutions Transform Irradiation Sterilization Services Market
• North America was the largest region in the irradiation sterilization services market in 2023
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