Dublin, Oct. 04, 2021 (GLOBE NEWSWIRE) -- The "Global Terminal Sterilization Services Market Size, Share & Trends Analysis Report by Product (Ethylene Oxide, Irradiation, Moist Heat Terminal Sterilization), by End-use (Hospitals & Clinics, Pharma), by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global terminal sterilization services market size is anticipated to reach USD 19.5 billion by 2028. The market is expected to expand at a CAGR of 10.3% from 2021 to 2028. The current advent of the novel COVID-19 pandemic has led to the growing demand for sterilization services and is expected to reach new frontiers in the upcoming months. As more and more people are getting infected with COVID, it is likely to create a demand for critical care equipment, which is leading to the growth of the market, globally. This is anticipated to provide plenty of opportunities for market players.
The mounting concerns over healthcare-associated infections spread through the environment or person are the major factor augmenting the market. As per CDC, in the U.S., it was estimated that HAIs account for approximately 1.7 million infections and 99,000 associated deaths each year, thus driving the market.
Growth in the pharmaceutical and biotechnology sector has had a tremendous impact on market growth. According to the Pharmaceutical Research and Manufacturers Association estimates 2018, the U.S.-based biopharmaceutical companies invested nearly USD 102.0 billion in R&D. Thus, increased R&D activities result in increased demand for various sterilization processes in these industries, thereby, fueling market growth during the forecast period.
Furthermore, the introduction of innovative products and the incorporation of new technologies by market players are expected to contribute to market growth during the forecast period. For instance, in April 2020, Matachana Group launched new steam sterilizers-MPHS Series-specifically designed to meet the guidelines of the pharmaceutical industry.
Terminal Sterilization Services Market Report Highlights
- On the basis of product, the ethylene oxide segment dominated the market and accounted for a revenue share of 34.9% in 2020 owing to numerous advantages offered by this method such as simple penetration, large sterilizing volume, and broad material compatibility
- Based on end-use, the pharma segment dominated the market and accounted for a revenue share of 67.0% in 2020. Increasing R&D activities and the launch of complex equipment are boosting demand for the sterilization process in pharmaceutical companies
- North America dominated the market and accounted for a revenue share of 35.6% in 2020 owing to increased adoption of standard sterilization services among hospitals and research centers. Additionally, the constantly expanding patient pool is further driving the market in the region
Companies Mentioned
- Steris, plc.
- 3M
- Getinge Group
- Advanced Sterilization Products Services, Inc. (Fortive)
- Belimed
- Cantel Medical
- Matachana Group
- Sterigenics International LLC
- Olympus Corp.
- Tso3
Key Topics Covered:
1. Terminal Sterilization Services Market Variables, Trends & Scope
1.1 Market Lineage Outlook
1.1.1 Parent Market Outlook
1.1.2 Ancillary Market Outlook
1.2 Penetration & Growth Prospect Mapping
1.3 User Perspective Analysis
1.1.1 Consumer Behavior Analysis
1.1.2 Market Influencer Analysis
1.4 List Of Key End Users
1.5 Regulatory Framework
1.6 Market Dynamics
1.6.1 Market Driver Analysis
1.6.1.1 Rising Burden Of Hospital Acquired Infections (Hais)
1.6.1.2 Surge In Covid-19 Cases
1.6.1.3 Increasing Application Of Sterilization In Pharmaceutical And Biotechnology Industry
1.6.2 Market Restraints Analysis
1.6.2.1 Safety Concerns Associated With Ethylene Oxide (Eto) Sterilization
1.6.2.2 Paradigm Shift From Reusable To Disposable Medical Devices
1.7 Terminal Sterilization Services: Market Analysis Tools
1.7.1 Industry Analysis - Porter's
1.7.2 Swot Analysis, By Pest
2. Terminal Sterilization Services Market: Segment Analysis, By Product, 2016 - 2028 (USD Million)
2.1 Definition and Scope
2.2 Product Market Share Analysis, 2020 & 2028
2.3 Segment Dashboard
2.4 Global Terminal Sterilization Services Market, by Product, 2016 to 2028
2.5 Market Size & Forecasts and Trend Analyses, 2016 to 2028
2.3.1 Ethylene Oxide
2.3.1.1 Ethylene Oxide Market, 2016 - 2028 (USD Million)
2.3.2 Irradiation
2.3.2.1 Irradiation Market, 2016 - 2028 (USD Million)
2.3.3 Moist Heat Terminal Sterilization
2.3.3.1 Moist Heat Terminal Sterilization Market, 2016 - 2028 (USD Million)
2.3.4 Others
2.3.2.1 Others Market, 2016 - 2028 (USD Million)
3. Terminal Sterilization Services Market: Segment Analysis, By End Use, 2016 - 2028 (USD Million)
3.1 Definition and Scope
3.2 End-use Market Share Analysis, 2020 & 2028
3.3 Segment Dashboard
3.4 Global Terminal Sterilization Services Market, by End Use, 2016 to 2028
3.5 Market Size & Forecasts and Trend Analyses, 2016 to 2028
3.3.1 Hospitals & clinics
3.3.1.1 Hospitals & clinics market, 2016 - 2028 (USD Million)
3.3.2 Pharma
3.3.2.1 Pharma market, 2016 - 2028 (USD Million)
3.3.3 Others
3.3.3.1 Others market, 2016 - 2028 (USD Million)
4. Terminal Sterilization Services Market: Regional Market Analysis, By Product, End Use, 2016 - 2028 (USD Million)
4.1 Definition & Scope
4.2 Regional Market Share Analysis, 2020 & 2028
4.3 Regional Market Dashboard
4.4 Regional Market Snapshot
4.5 Market Size, & Forecasts, Volume and Trend Analysis, 2020 to 2028
4.6 North America
4.7 Europe
4.8 Asia Pacific
4.9 Latin America
4.10 MEA
5. Terminal Sterilization Services Market - Competitive Analysis
For more information about this report visit https://www.researchandmarkets.com/r/vtwu3t
