Global Sterilization Services Market Report 2019 Anticipates the Market to showcase a CAGR of 7.5% by 2026
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The “Global Sterilization Services Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026” research study available on Decisiondatabases.com gives an evaluation in detail of the growth trends, market drivers, opportunities and restraints of the global sterilization services market. The report foresees the global sterilization services market to have a CAGR of 7.5% from 2020-2026.
Sterilization refers to the process that is used to completely eliminate any object or surface from bacteria or other such pathogenic agents. Sterilization is given the most importance in the medical field for preventing the buildup of disease-causing pathogens and spreading of diseases. HAI or nosocomial infection acquired by patients occurs due to the presence of toxins or infections existing in hospitals. Some of the common types of HAI infections include UTIs, surgical site infections, gastroenteritis, meningitis and pneumonia. Symptoms of such infections include discharge from a wound, fever, cough, shortness of breath, burning during urination, headache, nausea, vomiting and diarrhea.
The increase in the number of surgeries and the growth of the geriatric population are key factors driving the growth of the global sterilization services market. However, the cost of sterilization technology being on the higher side and the negative impact of ethylene oxide may act as a hindrance to the growth of the global sterilization services market. The rise in incidents of hospital-acquired infections (HAIs) along with the number of surgeries being performed are factors responsible for boosting the global sterilization services market growth. Furthermore, the growth in the usage of e-beam radiation sterilization, advancements in technologies like the gas plasma, use of NO2, peracetic acid sterilization, e-beam technology & supercritical CO2 along with the expansion of healthcare infrastructures are opening new possibilities for the sterilization market.
By sterilization method, the classifications of the global sterilization services market provided in the report are steam sterilization, ethylene oxide sterilization, electron beam radiation sterilization and gamma sterilization where ethylene oxide sterilization has emerged as the leading segment owing to a large number of EtO sterilization service providers across the globe and various advantages offered by this method like wide material compatibility, ease of penetration into narrow lumen and a large sterilizing volume/chamber capacity. By type, contract sterilization services and sterilization validation services are the segments of the global sterilization services market as per the report where contact sterilization services have emerged as the leading segment owing to the growing preference for contract sterilization services by medical device companies and increasing outsourcing by sterile processing departments (SPDs)/central sterile supply departments (CSSDs) in hospitals to specialized third-party vendors to reduce in-house costs related to sterilization. Offsite sterilization services and onsite sterilization services are the segments of the global sterilization services market based on the mode of delivery. By end-user, hospitals & clinics, medical device companies and pharmaceuticals are the classifications provided for the global sterilization services market where medical device companies are the dominating segment as per the report owing to the increasing number of medical device companies, rising need to ensure sterility, and increase in the usage of single-use products.
North America, Europe, Asia Pacific, Latin America and Middle East & Africa are the geographical segments of the sterilization services market globally. North America has been identified as the leading region owing to high patient admission rates, technological advancements in healthcare facilities and better distribution channels by sterilization services companies.
The report also covers a complete outlook on the competitive landscape by including company profiles of the key players profiled in the report such as Steris, Cantel Medical, Cretex Companies, E-Beam Services, Medistri, Beta-Gamma-Service, Sterigenics International, Cosmed Group, Life Science Outsourcing, Noxilizer, Johnson & Johnson and Stryker. A detailed evaluation of each company has been given based on its future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations and new product launches & developments.
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