Sterilization Services Market worth $5.5 billion by 2026 - Exclusive Report by MarketsandMarkets™

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24 Jun, 2021, 14:30 GMT

CHICAGO, June 24, 2021 /PRNewswire/ -- According to the new market research report "Sterilization Services Market by Method (EtO, Gamma, Steam, X-ray), Type (Contract Sterilization, Validation Services), Mode of Delivery (Off-site, On-site), End User (Hospitals & Clinics, Pharmaceuticals), COVID-19 Impact - Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 5.5 billion by 2026 from an estimated USD 4.1 billion in 2021, at a CAGR of 6.0% during the forecast period.

Browse in-depth TOC on "Sterilization Services Market"
152 – Tables
42 – Figures
238 – Pages

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The End users like hospitals and medical device companies are increasingly adopting sterilization services throughout their production lines due to mandates introduced by governments and regulatory bodies in the healthcare industry to maintain compliance with Good Manufacturing Practices (GMP). The introduction of mandates by government and regulatory bodies in the healthcare industry is the primary reason for the market witnessing significant growth. The growth of the sterilization services market can largely be attributed to factors such as the high incidence of hospital-acquired infections; the increasing number of surgical procedures; the growing focus on food sterilization; and the increasing outsourcing of sterilization services among pharmaceutical companies, hospitals, and medical device manufacturers. In addition, the growing medical device and pharmaceutical companies in emerging economies, increasing use of E-beam sterilization, reintroduction of ethylene oxide sterilization, and the growing healthcare industry and outsourcing of operation to emerging countries are expected to offer high-growth opportunities for market players during the forecast period.

With the surge in COVID-19 cases, there is an increasing focus on personal hygiene and the production of medical nonwovens and single-use products, such as face masks and gloves. This is further expected to drive the growth of the sterilization services market in the coming years. On the other hand, concerns regarding the safety of reprocessed instruments are expected to limit market growth to some extent in the coming years. This, along with the end-user noncompliance with sterilization standards, is expected to restrain the growth of this market.

The gamma sterilization segment is expected to grow at the highest CAGR during the forecast period

Based on method, the sterilization services market has been segmented into ethylene oxide (EtO) sterilization, gamma sterilization, electron beam (e-beam) radiation sterilization, steam sterilization, X-ray irradiation, and others. The gamma sterilization market segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the rising use of thermally labile products as well as the benefits offered by gamma sterilization (no chemical residue, high penetration power, and low cycle time).

The contract sterilization services segment is expected to account for the largest share of the market

By type, the sterilization services market has been segmented into contract sterilization services and sterilization validation services. In 2020, the contract sterilization services segment accounted for a larger share of the market. This larger share can be attributed to the growing preference for contract sterilization by medical device companies and the increasing outsourcing of sterile processing by hospitals to specialized third-party vendors to reduce in-house costs related to sterilization.

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The off-site sterilization services segment to account for the largest share of the market

By mode of delivery, the sterilization service market has been segmented into off-site sterilization services and on-site sterilization services. In 2020, the off-site sterilization services segment accounted for a larger share of the sterilization services market. The limited availability of space in in-house sterile processing departments, better efficiency of contract sterilization process than in-house sterilization, greater output with less financial risk, and the cost reduction benefits offered by off-site sterilization services are the key factors supporting the segment's growth.

The medical device companies end-user segment is expected to account for the largest share of the market

Based on end user, the sterilization service market has been segmented into hospitals & clinics, medical device companies, pharmaceutical & biotechnology companies, and others (food & beverage industry, cosmetic industry, dietary supplement manufacturers, veterinary industry, and other healthcare providers, such as long-term care facilities and diagnostic & imaging centers). The medical device companies segment accounted for the largest share of the market in 2020. Growth in this segment is majorly attributed to the rising prevalence of HAIs, increasing adoption of single-use medical devices, the growing medical device industry, and the rising number of surgical procedures worldwide.

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Asia Pacific is expected to account for the highest CAGR for players operating in the sterilization services market

The Asia Pacific market is expected to grow at the highest CAGR from 2021 to 2026. The rising number of surgical procedures conducted annually, favorable government regulations, an increasing number of hospitals, the growing medical tourism industry, the large patient population, and the rising incidence of COVID-19 infections are factors that are expected to drive the growth of the APAC market during the forecast period.

The prominent players in this market are STERIS plc (US) Sotera Health Company (US) Stryker Corporation (US) Advanced Sterilization Products (ASP, US) E-BEAM Services, Inc. (US), MMM Group (Germany), Belimed AG (Switzerland), BGS Beta-Gamma-Service GmbH & Co. KG (Germany), Medistri SA (Switzerland), and Noxilizer, Inc. (US).

Browse Adjacent Markets: Medical Devices Market Research Reports & Consulting

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Sterilization Equipment Market by Product & Services (Instruments (Dry Heat), Services (Ethylene Oxide, E-Beam, Steam), Consumables & Accessories (Pouches, Lubricants)), End User (Hospitals & Clinics, Pharmaceutical Companies) - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/sterilization-equipment-services-market-642.html

Infection Control Market by Product [Sterilization (Steam, Hydrogen Peroxide, EtO), Disinfection (Wipes, Liquids, Disinfectors), Services, E-beam, Face Masks], End User (Hospitals, Pharmaceutical Companies), COVID-19 Impact - Global Forecast to 2026
https://www.marketsandmarkets.com/Market-Reports/infection-control-market-1084.html

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