Sterilization Services Market to Reach $5.59 Bn, Globally, by 2030 at 5.1% CAGR: Allied Market Research

PORTLAND, Ore., Jan. 26, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Sterilization Services Market by Method (Ethylene Oxide (ETO) Sterilization, Gamma Sterilization, E-beam Sterilization, and Other Methods), Mode of Delivery (Off-site Sterilization Services and On-Site Sterilization Services), and End User (Hospitals & Clinics, Pharmaceutical & Medical Device Companies, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global sterilization services industry was estimated at $3.38 billion in 2020, and is anticipated to hit $5.59 billion by 2030, registering a CAGR of 5.1% from 2021 to 2030.

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Drivers, restraints, and opportunities-

Rise in the prevalence of hospital-acquired infections (HAIs), upsurge in likelihood of epidemic or pandemic outbreaks, increase in number of surgical procedures across the globe, and augmenting use of E-beam sterilization drive the global sterilization services market. On the other hand, concerns regarding the safety of reprocessed instruments restrain the growth to some extent. Nevertheless, high market growth potential in emerging markets is expected to create lucrative opportunities in the industry.

COVID-19 scenario-

• Patient to patient pathogen transmission via medical equipment can be completely barred by properly sterilizing medical kits, which in turn has impacted the global sterilization services market growth positively.
• Simultaneously, researches have shown that the use of reprocessed equipment to sterilize or disinfect medical equipment was higher than normal during the pandemic.

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The ETO sterilization segment to dominate by 2030-

By method, the ETO sterilization segment contributed to nearly half of the global sterilization services market share in 2020, and is expected to rule the roost by the end of 2030, owing to its wide usage in various applications including pharmaceutical sterilization, medical devices, and sterilization & disinfection in the life sciences industry. The E beam sterilization segment, however, would cite the fastest CAGR of 5.4% from 2021 to 2030. This is because with e-beam sterilization in use, products can be sterilized within a few seconds and, therefore, may not be subject to sterilization incompatibility, sometimes seen with ethylene oxide (ETO) sterilization and gamma irradiation.

The off-site sterilization services segment held the highest share in 2020-

By mode of delivery, the off-site sterilization services segment accounted for more than three-fourths of the global sterilization services market revenue in 2020, and is anticipated to lead the trail by 2030. On-site sterilization services, for many pharmaceutical & medical device companies, are a time saving process, thus propelling the segment growth. The on-site sterilization services segment, on the other hand, would showcase the fastest CAGR of 5.9% from 2021 to 2030.

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North America to lead the trail in terms of revenue-

By region, North America had the highest share in 2020, garnering nearly two-fifths of the global sterilization services market. Rise in adoption of sterilization products along with contract sterilization services, increase in need for sterilization services to minimize the prevalence of HAIs, and upsurge in the geriatric population in the province drive the market growth. At the same time, the market across Asia-Pacific would manifest the fastest CAGR of 5.9% during the forecast period. This is due to increase in incidences of hospital-acquired infections in emerging economies, rise in adoption of sterilization equipment, development of the R&D sector, surge in the number of healthcare reforms, and technological advancements in medical device manufacturing. The other regions studied in the report include Europe and LAMEA.

Leading market players-

• Fortive Corporation
• H.W. Andersen Products Ltd.
• E-BEAM Services, Inc.
• Medistri SA
• Metall Zug AG.
• Steris Plc.
• MMM Group
• Noxilizer Inc.
• Sotera Health LLC.
• Stryker Corporation

Official Press Release: https://www.alliedmarketresearch.com/press-release/sterilization-services-market.html

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