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Sterilization services market worth 3.31 billion USD by 2022 according to new research report

Sterilization services market worth 3.31 billion USD by 2022 according to new research report

According to a new market research report "Sterilization Services Market by Method (Steam, Ethylene Oxide, Gamma, E-beam), Type (Contract Sterilization Services, Validation Services), End User (Hospitals and Clinics, Food and Beverage, Pharmaceuticals), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 3.31 Billion by 2022 from USD 2.39 Billion in 2017, at a CAGR of 6.7%.

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Browse 105 Market Data Tables and 36 Figures spread through 183 Pages and in-depth TOC on"Sterilization Services Market"

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Factors driving market growth include the increasing incidence of HAIs, rising number of surgical procedures owing to the rapidly growing geriatric population, and increasing incidence of chronic disorders across the globe. In addition, the increasing outsourcing of sterilization processes by medical device manufacturers and outsourcing of hospitals sterile departments to reduce healthcare costs are further increasing the demand for sterilized services.

Moreover, factors such as the carcinogenic nature of ethylene oxide and difficulty in the sterilization of advanced medical instruments are limiting the growth of this market to a certain extent.

By method, the ethylene oxide (EtO) segment dominated the Sterilization Services Market in 2016

On the basis of sterilization methods, the Sterilization Services Market is segmented into ethylene oxide sterilization, gamma sterilization, electron beam sterilization, steam sterilization, and other sterilization methods.

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In 2016, EtO sterilization segment accounted for the largest share of the Sterilization Services Market. The EtO sterilization segment will continue to dominate the Sterilization Services Market, mainly due to the large number of EtO sterilization service providers across the globe and various advantages offered by this method such as wide material compatibility, ease of penetration into narrow lumen, and large sterilizing volume/chamber capacity.

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Based on type, the contract sterilization services segment accounted for the largest share of the market in 2016 

Based on the type, the Sterilization Services Market is segmented into contract sterilization services and sterilization validation services. In 2016, contract sterilization services accounted for the largest share of the Sterilization Services Market.

The large share of this segment is attributed to the growing preference for contract sterilization services by medical device companies and increasing outsourcing by sterile processing departments (SPDs)/central sterile supply departments (CSSDs) in hospitals to specialized third-party vendors in order to reduce in-house costs related to sterilization.

On the basis of mode of delivery, the offsite sterilization services segment accounted for the largest share of the market 

On the basis of mode of delivery, the Sterilization Services Market is segmented into offsite sterilization services and onsite sterilization services. In 2016, the offsite sterilization services segment accounted for the largest share of the Sterilization Services Market.

Factors such as advantages of offsite sterilization over in-house sterilization, rising focus on cost-containment, increasing number of contract sterilization service providers offering better services to clients, and government regulations for maintaining high standards in sterilization processes are some of the key factors driving the growth of the offsite sterilization services segment.

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By end user, medical device companies are expected to register the highest CAGR during the forecast period 

Based on end user, the global Sterilization Services Market is segmented into medical device companies, hospitals and clinics, pharmaceutical & biotechnology industry, and other end users. Medical device companies are expected to register the highest CAGR during the forecast period.

The growth in this end-user segment can be attributed to factors such as the increasing number of medical device companies in Asia Pacific, rising need to ensure sterility, and increasing use of single-use products.

North America dominated the market in 2016 

In 2016, North America dominated the global Sterilization Services Market. The rising outsourcing of sterilization services among medical device manufacturers and hospitals, increasing number of surgical procedures in the region, and growing demand for sterilized equipment & devices in healthcare facilities to ensure sterilization efficacy & minimize the occurrence of HAIs.

The key players in the Sterilization Services Market are STERIS (UK), Cantel Medical (US), Cretex Companies (US), E-BEAM Services (US), Medistri (Switzerland), Beta-Gamma-Service (Germany), Sterigenics International (US), COSMED Group (US), Life Science Outsourcing (US), Noxilizer (US), Centurion Medical Products (US), Johnson & Johnson (US), and Stryker (US).

 

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