According to new research study on "Sterilization Services Market to 2028 – Global Analysis and Forecast – by Method, Service Type, Mode of Delivery, and End User," the market is projected to reach US$ 4,717.56 million by 2028 from US$ 3,023.50 million in 2021; it is expected to grow at a CAGR of 6.6% during 2020–2028. The growth of the market is attributed to the increasing prevalence of healthcare-associated infections and rising number of surgical procedures performed worldwide.
North America to Dominate Sterilization Services Market During 2021–2028
The North American sterilization services market is further segmented into the US, Canada, and Mexico. The US is the largest market for global sterilization services, followed by Canada and Mexico, respectively. In the US, the demand for sterilization services is on rise due to the easy access to these services and rising number of surgical procedures performed every year. As per the American Society of Plastic Surgeons (ASPS), 1,811,740 cosmetic surgical procedures and 15,909,931 minimally invasive cosmetic procedures were performed in the US in 2018. In 2018, breast augmentation, liposuction, nose reshaping, eyelid surgery, and tummy tuck were the top five cosmetic procedures performed in the US.
In Asia Pacific, China, Japan, India, Australia, and South Korea are the key contributors to the sterilization services market growth. The market in this region is driven by the factors such as increased number of hospitals and ongoing advancements in the healthcare sectors in different countries. Chinese scientists have termed hospital-acquired diseases as "a prominent public health concern" and also "a major problem for patient safety." Wards in hospitals in the country are considered to be the breeding ground for microbial pathogens. Many of these pathogens are antibiotic-resistant superbugs, which makes the treatment of these infections comparatively more painful and expensive.
Increasing Number of Surgical Procedures Worldwide Accelerates Sterilization Services Market Growth
Surgeries are essential for treating health conditions such as injuries, malignancies, infections, and cardiovascular disease conditions. Most medical and surgical devices used in healthcare facilities need to be sterilized to avoid life-threatening infections. As per the Agency for Healthcare Research and Quality, over 10 million patients undergo surgical procedures each year. Cesarean, orthopedic processes (hip and knee replacement), neurosurgical procedures, and intra-abdominal procedures are among the most common types of surgical procedures. According to the American Society of Plastic Surgeons (ASPS), more than 17.7 million surgical and minimally invasive cosmetic procedures were performed in 2018 in the US.
Sterilization Services Market: Segmental Overview
Based on method, the sterilization services market has been segmented into ethylene oxide (ETO) sterilization, gamma sterilization, electron beam radiation sterilization, steam sterilization, and other sterilization methods.
The sterilization services market, based on service type, has been segmented into contract sterilization services and sterilization validation services. The contract sterilization services segment held a larger market share in 2020, and it is expected to witness noteworthy growth during the forecast period.
Based on mode of delivery, global sterilization services market has been segmented into offsite sterilization services and onsite sterilization services. The offsite sterilization services segment held a larger share of the market in 2020.
The sterilization services market, by end user, has been segmented into medical device companies, hospitals and clinics, pharmaceutical and biotechnology companies, and other end users. Medical device companies held the largest share of the market inn 2020. The demand for medical devices is estimated to increase in the coming years with the rise in population and chronic disease prevalence.
Impact of COVID-19 Pandemic on Sterilization Services Market
COVID-19 pandemic has become the most significant challenge across the world. Due to the pandemic, some facilities got permission to reopen and meet sterilization needs during the pandemic. Fo...
(All Rights Reserved)