Sterilization Services Market will Reach US$ 6.3 Bn by 2031

New York, United States, 2022-Apr-22 — /EPR Network/ —

Sterilization Services Market 2022

This report provides in depth study of “Sterilization Services Market using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. Sterilization Services Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

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 (2021-2031).

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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.

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.

Company Profiles:

  • 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
  • Life Science Outsourcing, Inc.

sterilization-services-market

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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.

Market Competition

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.

Key market players covered by Persistence Market Research include 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.

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What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the sterilization services market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.

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

About us: 

PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against rep/uted organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

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