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Sterilization Services Market Size Worth $ 4,717.56 by 2028 | CAGR 6.6% – The Insight Partners

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Sterilization Services Market Size Worth $ 4,717.56 by 2028 | CAGR 6.6% – The Insight Partners

November 16
21:22 2021
Sterilization Services Market Size Worth $ 4,717.56 by 2028 | CAGR 6.6% - The Insight Partners
Lucrative Regions for Sterilization Services Market
Sterilization Services Market to Grow at a CAGR of 6.6% to reach US$ 4,717.56 million from 2021 to 2028

According to The Insight Partners new market research study on “Sterilization Services Market to 2028 – Global Analysis and Forecast – by Method, Service Type, Mode of Delivery, and End User,” the market is expected to reach US$ 4,717.56 million by 2028 from US$ 3,023.50 million in 2021; it is estimated to grow at a CAGR of 6.6% from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.

Strategic Insights:

Report Coverage             

Details

Market Size Value in      

US$ 3,023.50 Million in 2021

Market Size Value by    

US$ 4,717.56 Million by 2028

Growth Rate     

CAGR of 6.6% from 2021-2028

Forecast Period

2021-2028

Base Year           

2021

No. of Pages     

204

No. Tables          

111

Segments covered         

Method Sterilization , Service Type , Mode of Delivery , End User ; and Geography

Regional scope 

North America; Europe; Asia Pacific; Latin America; MEA

Country scope  

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage             

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Get Sample PDF Copy Along with TOC of Sterilization Services Market at: https://www.theinsightpartners.com/sample/TIPRE00004899/

Sterilization is a process that helps in the elimination, removal, or deactivation of all life forms other biological agents that may be present in food, the surface of an article or in a fluid, etc. Sterilization is performed through various methods such as heat, chemicals, irradiation, high pressure, and filtration. Usually, a third party provides contract-based sterilization service to multiple industries such as hospitals, food, and beverage industry pharmaceutical companies, consumer, and industrial communities.

Increasing Prevalence of Healthcare-Associated Infections Boosts Sterilization Services Market Growth

Millions of people across the world get affected by HAIs (healthcare-associated infections) while receiving health treatments. Factors such as inadequate hygiene environment conditions, poor infrastructure, insufficient equipment, absence of guidelines, and lack of knowledge regarding infection control measures are increasing the prevalence of HAIs. The common HAIs caused by inadequate sterilization procedures are hepatitis B and C, surgical site infections (SSI), HIV infection, urinary and vascular catheter-associated infections, and ventilator-associated infection. Healthcare-associated infections create additional suffering for patients, increase hospital stays with high cost, and resists the function of antimicrobials. According to the WHO, annual expenditure due to healthcare-associated infections is estimated to be approximately US$ 7.7 billion in Europe and US$ 6.5 billion in the US. As per the WHO, Out of every 100 hospitalized patients, 7 in developed and 10 in developing countries are expected to acquire at least one healthcare-associated infection. In high-income countries, ICU acquired infection affects about 30% of patients with at least one healthcare-associated infection. In low- and middle-income countries, ICU-acquired infection is approximately 2─3 fold higher than high-income countries.

As the COVID-19 pandemic started spreading ruthlessly worldwide, the healthcare facilities were overwhelmed by the large number of patients in 2020. Frequent sanitization of the surfaces and sterilization became a necessity to prevent the spread of infection. In addition, the US Centers for Disease Control and Prevention (CDC) published sterilization and disinfection guidelines for medical facilities along with the need to sterilize medical devices that enter sterile tissue or a patient’s vascular system. However, before the COVID-19 crisis, concerns regarding ETO’s emissions led to the shuttering of ETO production plants across the US. Amid the pandemic, several facilities got permission to reopen and meet sterilization needs. For instance, in March 2020, the US Environmental Protection Agency (EPA) with the Georgia Environmental Protection Division (EPD) increased production safely and quickly at sterilization facilities in Covington and Madison to address the challenges introduced by the dramatic increased rise in need for sterile medical equipment.

Download the Latest COVID-19 Analysis on Sterilization Services Market Growth Research Report at: https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00004899

Based on method, the sterilization services market is segmented into ethylene oxide (ETO) sterilization, gamma sterilization, electron beam radiation sterilization, steam sterilization, and other sterilization methods. The ETO Sterilization segment is expected to hold the largest share of the market in 2021; however, the electron beam radiation sterilization segment is anticipated to register the highest CAGR in the market during the forecast period.

The contract sterilization services segment is estimated to hold a larger market share in 2021, and it is further expected to register a higher CAGR during 2021–2028. Growth of the contract sterilization services segment is attributed to increased demand of custom services in the sterilization industry.

The sterilization services market, by end user, is segmented into medical device companies, pharmaceutical and biotechnology companies, hospitals and clinics, food and beverages, and other end users. The medical device companies segment is expected to hold the largest share of the market in 2021, and the it is anticipated to register the highest CAGR from 2021 to 2028.

Sterilization Services Market: Competitive Landscape and Key Developments

BGS Beta-Gamma-Service GmbH & Co. KG, Cosmed Group, E-BEAM Services Inc, Life Science Outsourcing Inc., MEDISTRI SA, Midwest Sterilization Corporation, Sotera Health Company, Microtrol Sterilisation Services Pvt Ltd., STERIS plc., and Scapa are among the leading companies operating in the sterilization services market.

Order a Copy of Sterilization Services Market Shares, Strategies and Forecasts 2021-2028 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00004899/

Acquisitions, collaborations, partnerships, new product launches, and expansions are the commonly adopted strategies by companies to expand their footprint worldwide and meet the growing demand. The sterilization services market players have been adopting the product innovation strategy to cater to evolving customer demands across the world, which further helps them maintain their brand name in the global marketplace.

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About Us:

 

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

 

Contact Us:

 

If you have any queries about this report or if you would like further information, please contact us:

 

Contact Person: Sameer Joshi

 

E-mail: [email protected]

 

Phone: +1-646-491-9876

 

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Media Contact
Company Name: The Insight Partners
Contact Person: Sameer Joshi
Email: Send Email
Phone: +1-646-491-9876
City: Pune
State: Maharashtra
Country: India
Website: https://www.theinsightpartners.com/pr/sterilization-services-market