Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Sterilization Services Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
This report details the significant growth potential within the sterilization services industry. The report reveals a substantial market valuation, with forecasts projecting the market to expand from USD 10.24 billion in 2023 to an anticipated USD 31.48 billion by 2034, registering a notable compound annual growth rate (CAGR) of 10.75% over the forecast period of 2024-2034.
In the context of rising concerns around hospital-acquired infections and a noticeable increase in the adoption of advanced sterilization technologies, the report dissects the crucial factors augmenting the demand across various sectors. Asia Pacific's robust growth trajectory, alongside the steady expansion within North America, highlights the dynamic regional diversification shaping the market.
Key Market Drivers
- Prevalence of Hospital-Acquired Infections: An ongoing challenge within healthcare environments, demanding comprehensive sterilization protocols.
- Technological Advances: Innovations such as Shyld AI Disinfection Technology signifying a transformative phase in infection control.
- Cleanliness and Safety Awareness: Enhanced understanding of microbial dangers underscores the importance of rigorous sterilization standards.
- Increasing Surgical Procedures: A factor particularly relevant for hospital and clinic settings, ensuring patient and practitioner safety.
- Growth in Geriatric & Pediatric Demographics: Heightening the necessity for sterile environments due to vulnerable immune systems.
Focused Segmentation Insights
By delving into the market, the research delineates key segments demonstrating substantial activity and growth. Sterilization validation services surfaced as a leading segment, owing to rigorous regulatory measures and technological advances in biological indicators. Contract sterilization services are poised for accelerated growth, driven by the increasing reliance on these services within biotechnology, medicine, and diagnostics sectors.
Ethylene oxide (EtO) sterilization stands out for its cost-efficiency and compatibility, highlighting its prevalent use. However, electron beam radiation sterilization is set to ascend swiftly, propelled by the next-gen technological integrations seen in devices like the UPL C-Shuttle.
End-user Application Spectrum
Hospitals and clinics are at the forefront, motivated by the escalation in surgical interventions and the need for sterile environments. Meanwhile, medical device companies are anticipated to witness rapid growth, catalyzed by stringent regulatory frameworks and escalating demand for sterilized medical apparatuses.
Regional Revelations
The North America region, with a strong infrastructure and growing technological investments, is positioned for the highest revenue share. Contributions from established corporations such as Sterigenics, expanding their sterilization capacities, illustrate this trend. Nevertheless, the Asia Pacific is expected to emerge as the fastest-growing region, with partnerships like that of BD India with RRCAT, infusing vigor into local market dynamics.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $10.24 Billion |
| Forecasted Market Value (USD) by 2034 | $31.48 Billion |
| Compound Annual Growth Rate | 10.7% |
| Regions Covered | Global |
Companies Mentioned
- BGS
- STERIS
- Sterigenics U.S. LLC
- DuPont
- Noxilizer
- Cantel Medical
- Systec GmbH
- E-BEAM Services Inc.
- 3M
- Microtrol Sterilisation Services Pvt. Ltd.
- Life Science Outsourcing Inc.
- Reliance Instruments Corporation
- MEDISTRI SA
- Medline Industries Inc.
- Centurion Medical Products
- Cretex Companies
- Solvay
- Stryker
- Johnson & Johnson Services Inc.
- Cosmed Group
For more information about this report visit https://www.researchandmarkets.com/r/ae08hv
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