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Growing Demand for Sterilization Services to Drive Market Worth US$7.1 Billion by 2033, Persistence Market Research

Sterilization Services Market Segmented By Offsite Sterilization Services, World Sterilization Equipment, Sterilization Technologies, Medical Device Contract Sterilization Services, Irradiation and sterilization services

New York, Sept. 01, 2023 (GLOBE NEWSWIRE) — The global revenue from the sterilisation services market is expected to reach US$ 3.4 billion in 2022, with the global market expected to grow at a CAGR of 6.8% to more than US$ 7.1 billion by the end of 2033.

The global sterilization services market has witnessed substantial growth in recent years, driven by increasing awareness of the importance of infection control, advancements in sterilization technologies, and the growing demand for sterilization services across various industries.

Sterilization services play a critical role in ensuring the safety and efficacy of medical devices, pharmaceuticals, and other products, making them an indispensable part of healthcare, life sciences, and manufacturing sectors.

Sterilization is the process of eliminating or destroying all forms of microorganisms, including bacteria, viruses, fungi, and spores, from surfaces, instruments, equipment, and products to prevent contamination and infection.

Sterilization services encompass a range of methods and technologies, such as steam sterilization, ethylene oxide (EO) sterilization, gamma irradiation, and electron beam sterilization. These services are essential in various industries, including healthcare, pharmaceuticals, food and beverage, and cosmetics, among others.

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Market Dynamics

Growth Drivers

  1. Increasing Healthcare Expenditure: The rising global healthcare expenditure has led to higher demand for sterilization services in hospitals, clinics, and other healthcare facilities. With a growing number of surgical procedures and an emphasis on infection control, the healthcare sector is a major contributor to the market’s growth.
  2. Advancements in Sterilization Technologies: Ongoing research and development in sterilization technologies have resulted in more efficient and environmentally friendly methods. Innovative techniques such as low-temperature sterilization and plasma sterilization are gaining traction in the market.
  3. Stringent Regulatory Requirements: Regulatory bodies, such as the FDA and EMA, impose strict sterilization standards on medical devices and pharmaceutical products. Compliance with these regulations drives the demand for sterilization services, as companies strive to ensure product safety and efficacy.
  4. Rising Awareness of Infection Control: The COVID-19 pandemic has heightened awareness of infection control measures, further driving the demand for sterilization services in various industries, including healthcare, pharmaceuticals, and food processing.
  5. Growth in the Medical Device Industry: The expanding medical device industry, coupled with the increasing use of single-use medical devices, has created a substantial market for sterilization services.
  6. Globalization of the Food Industry: As the global food supply chain expands, there is a growing need for food sterilization to ensure product safety and extend shelf life. This trend is boosting the demand for sterilization services in the food and beverage sector.

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Challenges

  1. Environmental Concerns: Some sterilization methods, such as ethylene oxide (EO) sterilization, have come under scrutiny due to their environmental impact. Companies are increasingly exploring greener sterilization alternatives.
  2. Regulatory Compliance: Meeting stringent regulatory requirements can be challenging, requiring substantial investments in infrastructure and quality control systems.
  3. Technological Advancements: Rapid advancements in sterilization technologies may necessitate continuous adaptation and investment to remain competitive.

Market Segmentation

Service:

  • Contract Sterilization Service
  • Validation Sterilization Services

Technique:

  • Steam Sterilization
  • Gamma Irradiation
  • Electron Beam Irradiation
  • X-ray Irradiation
  • Ethylene Oxide Sterilization
  • Ion Beam Treatment
  • Plasma Sterilization

End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Medical Device Companies
  • Pharmaceutical Companies
  • Diagnostic Laboratories
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

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Competitive Landscape

The timing of the entrance of new service markets is critical for competitiveness. To be successful in the market, organisations must be able to provide infection prevention sterilisation services quickly while still achieving regulatory clearance standards.

Furthermore, rivals are expanding commercial alliances based on contract-based services for low-cost, high-quality services between service providers and academic institutions.

Some of the leading companies in the market include:

  1. Steris PLC
  2. Stryker Corporation
  3. Amcor
  4. Centurion Medical Products (Medline)
  5. Johnson & Johnson
  6. E – Beam Services, Inc.
  7. Cretex Companies
  8. COSMED Group
  9. Medistri SA
  10. B. Braun Melsungen
  11. Life Science Outsourcing, Inc

Recent Developments

  • The US Food and Drug Administration (FDA) accepted an Emergency Use Authorization for respirator decontamination, according to an announcement made by STERIS plc in April 2020. The licence permits health professionals to disinfect N95 Respirators on-site with STERIS V-PRO® Low Temperature Sterilisation Systems.
  • In November 2019, Stryker Corporation’s subsidiary purchased TSO3, a pioneer in low-temperature sterilising technology for medical devices.

Future Outlook

The sterilization services market is poised for continued growth in the coming years. Factors such as the expansion of healthcare infrastructure, increasing emphasis on infection control, and technological advancements in sterilization methods are expected to drive market growth.

Moreover, the growing demand for sterilization services in emerging economies, coupled with the globalization of industries, will provide lucrative opportunities for market players to expand their operations.

However, addressing environmental concerns and complying with evolving regulatory requirements will remain key challenges for the industry. Companies that can navigate these challenges while offering efficient and cost-effective sterilization solutions are likely to thrive in this competitive market.

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Originally published at https://www.einpresswire.com/article/653258706/growing-demand-for-sterilization-services-to-drive-market-worth-us-7-1-billion-by-2033-persistence-market-research

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