Pune, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The report published by Maximize Market Research, a leading global healthcare research firm published a report on the "Sterilization Services Market". The report covers a detailed demand and pricing analysis of the industry. The market is expected to grow from USD 9.34 billion in 2021 to USD 17.55 billion in 2029, at a CAGR of 8.2 percent over the forecast period from 2022 to 2029.
Sterilization Services Market Scope and Research Methodology
The report covers all aspect of the Sterilization Services industry that includes major drivers of the market, challenges posed, and probable risks in the market. The report offers valuable information on the market size and estimations along with the growth rate. The report provides an overview of the Sterilization Services Market developments and analyses competition analysis, market trends, new opportunities, and segment analysis, with a combination of qualitative and quantitative research. For a competitive landscape, the Sterilization Services Market’s key players and new entrants are carefully compiled to form a competitive matrix for analysis.
The primary goal of the report is to help clients make intelligent investment decisions by showcasing the most recent market data on the prospects and trends for the Sterilization Services Market. The regional analysis along with a detailed demand and pricing analysis is presented in the report. Segment-wise analysis of the market is conducted to formulate business strategies. For the customizable report, data was collected using primary and secondary methods using paid and unpaid databases. Research tools such as SWOT, PESTLE, and Porter's Five Force analysis were used for the analysis.
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Sterilization Services Market Overview
Sterilization is a process that eliminates or removes all forms of microbial life in healthcare facilities through chemical or physical methods. For medical and surgical devices to avoid spreading infectious germs to patients, sterilization services are essential. A rise in the prevalence of hospital-acquired infections, an increase in the number of surgical procedures requiring high-intensity infection prevention & control, an increase in the number of government awareness programs to ensure a high degree of infection prevention, an increase in the geriatric population, and an increase in the cases of chronic diseases like diabetes, cancer, heart obesity, and respiratory disorders are driving the market growth.
Sterilization Services Market Dynamics
Many healthcare regulatory organizations are concerned about reducing healthcare costs by hastening the approval of innovative tools and treatments. Faster approvals will also boost demand for novel sterility assessment techniques, leading smart trade companies to raise their expenditures on cutting-edge technology. Shorter cycles, greater material compatibility, expanded instrument capabilities, environmental friendliness, and cheaper pricing are a few recent developments in sterilizing technologies that are useful to healthcare institutions. This trend has focused on low-temperature sterilization systems.
Sterilization Services Market Regional Analysis
North America region held the largest market share in 2021 and is expected to grow at a highest CAGR through the forecast period. The region’s growth is attributed to the rising hospital-acquired infections, technological developments in healthcare centers, strong presence of industry players in the region, increasing government expenditure, and public awareness of available in the North American region. Asia Pacific region is expected to grow at the fastest growth rate through the forecast period. The region’s growth is attributed to the rising need for reusable medical equipment. Leading market organizations are also striving to penetrate untapped nations like India, China, and Korea, broadening the industry's potential market.
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Sterilization Services Market Segmentation
By Method:
- ETO Sterilization
- Gamma Sterilization
- E-Beam Sterilization
- Steam Sterilization
- X-ray Irradiation
- Other Methods
By Type:
- Contract Sterilization Services
- Sterilization Validation Services
By Mode of Delivery:
- Off-Site Sterilization Services
- On-Site Sterilization Services
By End-User:
- Hospitals & Clinics
- Medical Device Companies
- Pharmaceutical & Biotechnology Companies
- Other End Users
| Market Size in 2021 | USD 9.34 Bn. |
| Market Size in 2029 | USD 17.55 Bn. |
| CAGR | 8.2 % (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 210 |
| No. of Tables | 112 |
| No. of Charts and Figures | 1118 |
| Segment Covered | Method, Type, Mode of Delivery, End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Sterilization Services Market Key Competitors:
- STERIS plc.
- Sotera Health Company
- Stryker Corporation
- Advanced Sterilization Products
- E-BEAM Services, Inc.
- MMM Group
- Belimed AG
- BGS Beta-Gamma-Service GmbH & Co. KG
- Medistri SA
- Noxilizer, Inc.
- H.W.Andersen Products Ltd.
- Cosmed Group
- Cretex Companies, Inc.
- Life Science Outsourcing, Inc.
- MICROTROL Sterilisation Services Pvt. Ltd.
- Medline Industries, Inc.
- Avantti Medi Clear
- Steripure SAS
- Europlaz Technologies Limited
- Centerpiece
- Midwest Sterilization Corporation
- Blue Line Sterilization Services LLC
- SteriPack Group
- Steri-Tek
- Sterilization Services
Key questions answered in the Sterilization Services Market are:
- What are Sterilization Services?
- What is the current growth rate of the Sterilization Services Market?
- What are the major drivers of the Sterilization Services Market?
- How is the Sterilization Services Market performing in Europe?
- Who are the key players in the Sterilization Services Market?
- Which top 5 countries are responsible for the majority of the demand for Sterilization Services?
- What are the major trends in the Sterilization Services Market?
- What are the major factors contributing to the demand for Sterilization Services?
- Which region held the largest share of the Sterilization Services Market?
- Which is the fastest-growing segment in the Sterilization Services Market and why?
- What are the prevailing opportunities in the Sterilization Services Market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Challenges, Restraints, Investment Opportunities, and Recent Developments
- Market Segmentation – A detailed analysis by Method, Type, Mode of Delivery, End-User, and Region
- Competitive Landscape –New Entrants, Key Vendors, and Other Prominent Vendors
Maximize Market Research is leading research firm in Healthcare, has also published the following reports:
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Global High-Level Disinfection Services Market - The market size is expected to reach USD 45900 million by 2027 at a CAGR of 9.2 percent during the forecast period. Rising hospital-acquired infections and an increase in surgical procedures are expected to drive market growth.
Healthcare Payer Services Market - The market size is expected to reach USD 52.55 billion by 2029 at a CAGR of 12.17 percent during the forecast period. Increasing demand for advanced technologies to operate business process services cost-effectively is driving market growth.
Microservices in Healthcare Market - The market size is expected to reach USD 1113.29 million by 2029 at a CAGR of 21.68 percent during the forecast period. Increased adoption of microservices given the efficiency and accuracy provided and improvement in overall healthcare services is expected to drive the market growth.
Histopathology Services Market - The market size is expected to reach USD 41.2 million by 2029 at a CAGR of 8 percent during the forecast period. The growth in the market is driven by the growth of biologics pipelines, increased demand for cell detection, and technological advancements.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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