Sterilization Services Market to Hit USD 5.2 Billion by 2029 with 7.7% CAGR | MarketsandMarkets Trademark

The global sterilization services market, valued at US$3.3B in 2023, is forecasted to grow at a 7.7% CAGR, reaching US$3.6B by 2024 and US$5.2B by 2029.
Global Sterilization Services Market Poised for Significant Growth

The global sterilization services market [https://www.marketsandmarkets.com/Market-Reports/sterilization-service-market-183597324.html] is projected to expand from USD 3.6 billion in 2024 to USD 5.2 billion by 2029, reflecting a CAGR of 7.7%. This growth is driven by the increasing prevalence of hospital-acquired infections (HAIs) and the rising trend of outsourcing sterilization processes among hospitals and medical device manufacturers to optimize costs.

Market Segmentation and Key TrendsDominance of Gamma Sterilization and Rise of E-Beam Sterilization

While the gamma sterilization segment is expected to maintain market leadership due to its reliability and efficiency, e-beam sterilization is gaining traction owing to its rapid processing times and effectiveness.

Request Sample Pages: [https://www.marketsandmarkets.com/requestsampleNew.asp?id=183597324&utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=sterilizationservicesmarket]

Growth in Contract Sterilization Services

The market is segmented into contract sterilization services and sterilization validation services. Contract sterilization services held the largest share in 2023, primarily driven by the increasing incidence of chronic diseases, focus on reducing surgical-site infections (SSIs), and the rising number of surgical procedures worldwide.

Preference for Off-Site Sterilization Services

Among on-site and off-site sterilization services, off-site sterilization dominated in 2023. This preference is attributed to its cost-effectiveness, stringent regulatory compliance, and the availability of specialized third-party service providers.

Medical Device Companies Lead in End-User Adoption

Medical device companies accounted for the largest market share in 2023. Factors such as the rising need for sterile equipment, the increasing use of single-use medical devices, and outsourcing trends in the Asia Pacific have contributed to this growth.

Regional Market Insights

North America led the global market in 2023, followed by Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. The Asia Pacific region is expected to witness the highest growth due to expanding medical device and pharmaceutical industries and a growing geriatric population.

Competitive Landscape

The sterilization services market is highly competitive, with major players adopting both organic and inorganic growth strategies to expand their service portfolios.

Leading Companies:

*
STERIS plc (Ireland): A market leader with a strong portfolio of sterilization solutions, including gamma irradiation, electron beam processing, and EtO technologies.

*
Sotera Health (US): Operating in over 65 facilities across 50 countries, the company specializes in contract sterilization, microbiological testing, and consulting services.

*
Servizi Italia S.p.A (Italy): A key player in Europe, the Middle East & Africa, and the Asia Pacific, offering comprehensive sterilization services across more than 50 facilities.

Conclusion

The sterilization services market is undergoing rapid transformation, with outsourcing, technological advancements, and stringent regulatory requirements driving demand. As industry leaders expand their global presence, the market is expected to witness sustained growth and innovation in sterilization techniques.

For more information, [https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=183597324&utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=sterilizationservicesmarket]

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=sterilization-services-market-to-hit-usd-52-billion-by-2029-with-77-cagr-marketsandmarkets]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/sterilization-service-market-183597324.html

Legal Disclaimer: Information contained on this page is provided by an independent third-party content provider. ABNewswire makes no warranties or responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you are affiliated with this article or have any complaints or copyright issues related to this article and would like it to be removed, please contact retract@swscontact.com



This release was published on openPR.