The Sterilization Services Market is likely to scintillate going forward. With various cloud options to explore, the healthcare industry is expected to be at a newer high in the forecast period. In other words, organizations across the globe are advancing their downtime regarding digital business initiatives. They are swiftly moving towards the cloud for modernizing the environments, enhancing system reliability, supporting hybrid work models, and addressing the other new-fangled realities surfacing in recent times. This would be the outlook of the healthcare vertical in the upcoming period.
The Sterilization Services Market Share is estimated to be reaching US$ 3,800 Million at a CAGR of 6% from 2026. With advanced digitization driving the healthcare industry, the concept of a “global village” has become a reality. As such, medical treatment could be sought to transcend the geographical barriers, which would form the focal point of the healthcare industry going forward.
Over the years, there has been an increase in the demand for single-use, disposable medical devices in the healthcare industry. Many medical device and equipment manufacturers use sterilization technologies such as gamma, steam, X-ray, and ethylene oxide for designing and manufacturing processes. Validation and quality of packaging are carried out along with further revalidation using these sterilization technologies.
The global sterilization services market was valued at US$ 2.6 Bn in 2018, and is expected to witness a CAGR of over 7% during the forecast period (2019-2029).
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- Redditch Medical (Entaco Ltd)
- Cantel Medical Corporation
- Stryker Corporation
- Centurion Medical Products (Medline)
- Johnson & Johnson
- E – Beam Services, Inc.
- Cretex Companies
- COSMED Group
- Medistri SA
- B. Braun Melsungen
- Life Science Outsourcing, Inc.
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Key Takeaways of Sterilization Services Market Study
- Contract sterilization services contributed more than 2/3 share in the sterilization services market in 2018, owing to rising healthcare-associated infections in various healthcare settings.
- Ethylene oxide sterilization accounted for a major market share in terms of technology in the global sterilization services market in 2018, attributed to a variety of economic factors, demographic patterns, healthcare trends, and service affordability.
- Rising adoption of sterilization services for infection control and quality packaging during the production process in the medical device industry contributed to the dominance of North America in the global sterilization services market.
- Attributed to rising awareness regarding infection prevention and growing medical device industry, East Asia is expected to offer notable growth opportunities for the sterilization services market.
“Growing unmet needs for controlling infection and pyrogen-free medical devices have prompted medical manufacturing companies to include routine contract sterilization services as an imperative process, which increased the usage of sterilization services” says a PMR analyst.
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Advancements in Sterilization Techniques to Increase Demand for Sterilization Services
Healthcare regulatory bodies across the world are focusing on reducing treatment costs through faster devices and drug approval processes. Speeding up approvals have also increased the demand for new sterility testing methods.
These practices have compelled innovative market players to spend more on advanced solutions. As a result, recent developments in sterilization technologies have focused on improving functionalities, such as shorter sterilization cycles, improved and compatible materials, capacity expansion, environmental worthy, and affordability.
With innovations in mind, low-temperature sterilization systems have been made commercially available with enhanced sterility functions and improved technologies that can monitor biological indicators (BIs) with shorter output results.
More Valuable Insights on Sterilization Services Market
Persistence Market Research offers a unique perspective and actionable insights on the sterilization services market in its latest study, presenting historical demand assessment from 2014–2018 and projections for 2019–2029, on the basis of service type (contract sterilization services and validation sterilization services), technique (steam sterilization, gamma irradiation, electron beam irradiation, X-ray irradiation, ethylene oxide sterilization, ion beam treatment, and plasma sterilization) and end user (hospitals, ambulatory surgical centres, medical device companies, pharmaceutical companies, diagnostic laboratories, and others), across seven major regions.
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