Sterilization Services Market 2022-2031
New Study Reports “ Sterilization Services Market 2022 Global Market Opportunities, Challenges, Strategies and Forecasts 2031″ has been Added on PMR.
The Sterilization Services Market is expected to grow at a stupendous rate in the next 10 years. The healthcare industry is being driven by innovation. The very idea of “Customer is the King” is being implemented. As such, healthcare IT solutions come across as a meticulous and complex system that constitutes interconnected and large-scale systems wherein micros are being worked upon. These would be the facets of the healthcare vertical going forward.
As per Persistence Market Research’s latest industry analysis, the global sterilization services market is slated to top US$ 6.3 Bn by 2031, expanding at a CAGR of around 7.2% over the forecast period (2022-2031).
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With rising number of hospital-acquired infections (HAIs), demand for sterilization service is expected to grow at a high pace. Poor hygiene, infrastructure, and environmental conditions; inadequate equipment, lack of knowledge about infection control procedures, and dearth of regulations are all contributing to the rise in HAIs. The most common HAIs caused by poor sterilization procedures include urinary and vascular catheter-associated infections, surgical site infections (SSI), HIV infection, hepatitis B and C, and ventilator-associated infections.
The report has profiled some of the important players prevalent in the global like – Steris PLC, Cantel Medical Corporation, Stryker Corporation, Amcor, Centurion Medical Products (Medline), Johnson & Johnson, E – Beam Services, Inc., Cretex Companies, COSMED Group, Medistri SA, B. Braun Melsungen, and Life Science Outsourcing, Inc and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Sterilization Services Market.
Government mandates for hospital and medical equipment sterilization are expected to boost demand for sterilization services. Hospitals and medical device companies are increasingly employing sterilization services throughout their production lines as a result of government and regulatory pressures in the healthcare industry to guarantee compliance with Good Manufacturing Practices (cGMP).
Rising use of E-beam sterilization, reintroduction of ethylene oxide sterilization, expanding healthcare sector, and outsourcing of operational processes to emerging countries are projected to provide high-growth opportunities for sterilization service providers over the coming years.
Furthermore, the COVID-19 pandemic has accelerated demand for sterilization service due to the obvious increase of COVID-19 cases. There is greater emphasis on personal hygiene and manufacturing of medical nonwovens and single-use goods such as face masks and gloves. Concerns over the safety of reprocessed instruments, on the other hand, are projected to impede market expansion over the coming years.
Key Takeaways from Market Study
- Contract sterilization services are expected to grow two-fold during the forecast period owing to reduced cost and resource burden while focusing on core activities.
- By technique, the sterilization method using ethylene oxide holds nearly 41% of market share.
- Medical device companies are comparatively preferred more than other end users. This segment is expected to expand at a CAGR of nearly 6.7% during the forecast period.
- North America is leading the global market with the share of around 43% in 2020.
“Increase in biopharmaceutical-based product research, sudden outbreak of COVID-19, and increase in the number of HAIs are all driving demand for sterilization services,” says an analyst of Persistence Market Research.
Manufacturing and service provider companies in the sterilization services market are emphasizing more on increasing their sales force and entering into strategic partnerships with local suppliers and distributors to expand product reach. Such strategies are helping companies grow their presence globally while also increasing their customer base.
- STERIS acquired Cantel Medical in 2021 to extend its product and service offerings, global reach, and customers in the field of endoscopy, dental, dialysis, and life sciences customers.
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Sterilization Services Market Manufacturers
Sterilization Services Market Distributors/Traders/Wholesalers
Sterilization Services Market Subcomponent Manufacturers
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Sterilization Services Market – Report Highlights
- A detailed overview of parent market of Sterilization Services Market
- Changing Sterilization Services Market dynamics in the industry
- In-depth segmentation of the Sterilization Services Market
- Historical, current, and projected Sterilization Services Market size regarding volume and value
- Recent industry trends and developments in Sterilization Services Market
- Competitive landscape of the Sterilization Services Market
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Sterilization Services Market performance
- Must-have information for Sterilization Services Market players to sustain and enhance their market footprint
Key Questions Answered in the Sterilization Services Market Report
How is the Sterilization Services Market expected to grow over the projected period?
What direction is the Sterilization Services Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Sterilization Services Market in future?
What are the key market drivers in the Sterilization Services Market?
What are significant opportunities and improvement areas for Sterilization Services Market manufacturers?
What are the key developments and trends taking over the Sterilization Services Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Sterilization Services Market?
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