Sterilization Services Market, By Method (Ethylene Oxide (ETO) Sterilization, Gamma Sterilization, Steam Sterilization, Electron Beam, Radiation Sterilization, and Other Methods), By Business Type (Contract Sterilization Services and Sterilization Validation Services), By End User (Medical Device Companies, Hospitals and Clinics, Pharmaceutical and Biotechnology Industry, and Other End Users), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In : Apr 2023

Code : CMI5657

Pages :157

Formats :

Excel and PDF

Industry : Medical Devices

Sterilization Services MarketSize and Trends

The global sterilization services market was valued at US$ 3,864.1 Mn in 2022 and is forecast to reach a value of US$ 6,268.1 Mn by 2030 at a CAGR of 6.3% between 2023 and 2030. The global sterilization services market is experiencing strong growth owing to the rise in burden of hospital acquired infections and rise in demand for sterilization agents and equipment. Moreover, outbreak of COVID-19 across the world and increase in number of surgical procedures is expected to boost the growth of the market. However, factors such as harmful effects of chemical agents and lack of availability of correct manuals are expected to hamper the market growth.

Figure 1. Global Sterilization Services Market Share (%), By Region, 2023

Global Sterilization Services Market Trends:

Rise in number of hospitals worldwide is a recent trend

High number of surgeries performed in hospitals, which in turn increase the demand for effectively sterilize surgical tools or equipment, hospital rooms, and the environment. Sterilization agents and equipment are used by a large number of hospitals around the world. Thus, with the rise in number of hospitals, the use of sterilization agents and equipment is also increasing. This trend is expected to continue during the forecast period, driving the growth of the market.

Introduction of novel technologies is another trend

Recent developments in sterilization technologies that are applicable to healthcare facilities have followed the trend of the past few decades. Commercially available, sterilization tools/equipment have been enhanced, and newer technologies are moving toward commercialization. Novel tools or equipment have been developed for the sterilization process. These technologies have benefits and are safe over their predecessors. Hence, they are being adopted by the market.