Sterilization Services Market Size, Share, Future Opportunities, Business Growth, Demand, Key Segments And Forecast To 2029
The global sterilization services market is anticipated to grow from USD 3.6 billion in 2024 to USD 5.2 billion by 2029, driven by a CAGR of 7.7%. Key factors fueling this growth include the rising prevalence of hospital-acquired infections (HAIs) and the increasing trend of hospitals and medical device manufacturers outsourcing sterilization processes to third-party vendors to cut costs. While the gamma sterilization segment is expected to dominate, e-beam sterilization is gaining traction for its rapid processing times and effectiveness. Challenges remain, particularly concerning the safety of reprocessed medical instruments, which can lead to infections if not adequately sterilized. The Asia Pacific region is projected to experience the highest growth due to an uptick in medical device and pharmaceutical industries, coupled with a growing geriatric population. Key players in the market include STERIS plc, Sotera Health, and Servizi Italia, among others. Overall, the market’s dynamics reflect a significant shift towards outsourcing sterilization services to enhance efficiency and safety in healthcare.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=183597324
The global sterilization services market is divided into five segments based on method: ethylene oxide sterilization, gamma sterilization, electron beam sterilization, x-ray irradiation sterilization, steam sterilization, hydrogen peroxide sterilization and other methods. With the most market share in 2023, the sterilization services market was dominated by the gamma sterilization. The large share of the gamma sterilization segment is attributed to high turnaround time, no radioactive sourcing or re-sourcing requirements, and the ability to provide uniform & controlled doses for the process.
The sterilization services market is divided into contract sterilization services and sterilization validation services based on type. In the year 2023, the sterilization service market was dominated by the contract sterilization services. The large share and the high growth rate of the contract sterilization services segment is attributed to the increasing incidence of chronic diseases; the growing focus on reducing surgical-site infections (SSIs); and the rising number of surgical procedures worldwide. This method is also highly cost-efficient and suitable for small and large sterilization service providers.
The sterilization services market is divided into two segments based on the mode of delivery, including off-site sterilization services and on-site sterilization services. In 2023, the sterilization services market was dominated by the off-site sterilization services The large share and high growth rate of the off-site sterilization services segment is attributed to the growing preference for off-site sterilization over in-house sterilization; increasing focus on cost-containment; the rising number of contract sterilization service providers offering better services to clients; and stringent government regulations for the enhanced compliance of sterilization processes.
By end-user type, the sterilization services market is divided into medical device companies, hospitals & clinics, pharmaceutical & biotechnology companies and other end users. The segment with the biggest market share in 2023 was medical device companies. The large share and the high growth rate of the medical device companies segment is attributed to the growing need for medical device sterilization; the rising trend of outsourcing services to the Asia Pacific market due to low labor costs; the rising requirement for single-use products for surgical procedures worldwide; and the increasing demand for sterile equipment across the healthcare industry.
The global Sterilization services market has been segmented into North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. North America accounted for the largest share of the sterilization service market in 2023, which is followed by, Europe, Asia Pacific, Latin America, Middle East & Africa, and the GCC countries. The large share of North America can be attributed to the growing demand and adoption of sterilization services due to the increasing focus on disease prevention among consumers; a surge in the geriatric population and subsequent increase in the prevalence of chronic diseases; the growing need for sterilization equipment to minimize the prevalence of HAIs; and favorable government regulations for the implementation of sterilization services.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=183597324
The sterilization service market is highly competitive, with top companies holding significant market shares. The top three players in this market include STERIS plc (Ireland), Sotera Health (US), and Servizi Italia S.p.A (Italy). Players in this market are focusing on adopting organic and inorganic growth strategies such as expansions, and acquisitions to increase their sterilization services portfolio, cater to customer needs, increase their profitability and expand their presence in the global sterilization services market.
STERIS plc (Ireland)
STERIS is leading with the most shares in the sterilization market. It has a strong portfolio of sterilization products & services. The company’s broad product portfolio is its key strength. STERIS markets various contract processing services using gamma irradiation, electron beam processing, EtO technologies, and a range of laboratory testing services. The company has a geographic presence across various region around the world. The company derives majority of its revenues from North America, specifically the US. To further expand and maintain its leading market position, STERIS focuses on organic & inorganic strategies, such as deals, acquisitions, and expansion.
Sotera Health (US)
Sotera Health is the second-highest player in our market. It has a strong service portfolio. With a global network spanning 65 facilities across 50 countries, the company serves a diverse clientele of over 5,000 customers worldwide. The company’s service portfolio includes contract sterilization services, microbiological & analytical testing services, consulting services, radiation-processing services, and microorganism-reduction services. The company mainly generates its revenue from the US, followed by Canada, making it one of the leading players operating in the North American market.
Servizi Italia S.p.A (Italy)
Servizi Italia S.p.A is the third-highest player in the sterilization service market. It is growing significantly in the recent years with its main focus on the sterilization of the Italian healthcare system. It holds a strong presence in regions like Europe, Middle East and Africa and Asia Pacific, the company operates over 50 facilities. Servizi Italia offers a comprehensive range of services, including advanced sterilization solutions, and is supported by a team of over 3,600 professionals.
For more information, Inquire Now!
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/sterilization-service-market-183597324.html