Portland, OR, Aug. 04, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Sterilization Services Market was estimated at $3.38 billion in 2020 and is expected to hit $5.59 billion by 2030, registering a CAGR of 5.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in incidence of hospital-acquired infections (HAIs), upsurge in likelihood of epidemic or pandemic outbreaks, rise in number of surgical procedures across the globe, and growing use of E-beam sterilization drive the global sterilization services market. On the other hand, concerns regarding the safety of reprocessed instruments impede the growth to some extent. However, high market growth potential in emerging markets has been beneficial for the market growth.
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COVID-19 scenario-
- Patient to patient pathogen transmission via medical equipment can be completely prevented by properly sterilizing medical equipment. This factor has impacted the growth of the global sterilization services market positively.
- Also, the use of reprocessed equipment to sterilize or disinfect medical devices was higher than normal during the pandemic.
The sterilization services market is analyzed across method, mode of delivery, end user, and region. Based on method, the ETO sterilization segment accounted for nearly half of the total market share in 2020, and is expected to rule the roost by the end of 2030. The E beam sterilization segment, on the other hand, would register the fastest CAGR of 5.4% from 2021 to 2030.
Based on mode of delivery, the off-site sterilization services segment held more than three-fourths of the total market revenue in 2020, and is anticipated to lead the trail by 2030. The on-site sterilization services segment, however, would cite the fastest CAGR of 5.9% from 2021 to 2030.
Based on region, North America had the major share in 2020, holding nearly two-fifths of the global sterilization services market. Simultaneously, the market across Asia-Pacific, would grow at the fastest CAGR of 5.9% during the forecast period. The other provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global sterilization services market report include Fortive Corporation, Medistri SA, Metall Zug AG., Stryker Corporation, MMM Group, Noxilizer Inc., E-BEAM Services, Inc.,Sotera Health LLC., Steris Plc., H.W. Andersen Products Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
Key Findings of the Study
- By method, the ethylene oxide (ETO) sterilization segment was the major shareholder in 2020, and is expected to remain dominant throughout the forecast period.
- On the basis of mode of delivery, the off-site sterilization services segment acquired the largest sterilization services market share in 2020, and is expected to continue the same trend throughout the forecast period.
- Depending on end user, the pharmaceutical & medical device companies segment dominated the sterilization services market in 2020.
- Asia-Pacific is expected to exhibit highest CAGR of 5.9% in the near future.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the sterilization services market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers sterilization services market analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and global sterilization services market growth.
Key Market Segments
By Method
- Ethylene Oxide (ETO) Sterilization
- Gamma Sterilization
- E-beam Sterilization
- Other Methods
By Mode of Delivery
- Off-site Sterilization Services
- Ethylene Oxide (ETO) Sterilization
- Gamma Sterilization
- E-beam Sterilization
- Other Methods
- On-site Sterilization Services
- Ethylene Oxide (ETO) Sterilization
- Gamma Sterilization
- E-beam Sterilization
- Other Methods
By End User
- Hospitals & Clinics
- Pharmaceutical & Medical Device Companies
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
FREQUENTLY ASKED QUESTIONS?
- Which are the top companies hold the market share in Sterilization Services market?
- Which is the most influencing segment growing in the Sterilization Services market report?
- What are the key trends in the Sterilization Services market report?
- What are the market values / growth % of emerging countries?
- What is the market value of Sterilization Services market in 2021?
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