The growth of the Sterilization Services Market can be attributed to the factors such as the increasing focus on outsourcing of sterilization processes among pharmaceutical companies, hospitals, and medical device manufacturers; increasing prevalence of hospital-acquired infections; growing number of surgical procedures, and rising focus on food sterilization.
Breakdown of Primary Interviews
Based on sterilization method, the ethylene oxide segment dominated the sterilization services market in 2016. The growth can be attributed to its extensive usage in various applications, including medical device sterilization, food testing, pharmaceutical sterilization, and sterilization and disinfection in the life sciences industry. Moreover, advantages such as the penetration capabilities, high material compatibility, and low costs associated with the use of this sterilization method are also expected to drive market growth.
On the basis of type, the sterilization services market is segmented into contract sterilization services and sterilization validation services. The contract sterilization services segment is expected to register the highest CAGR during the forecast period. This is attributed to the growing preference for contract sterilization by medical device companies as well as the increasing outsourcing of sterile processing by hospitals to specialized third-party vendors in order to reduce in-house costs related to sterilization.
Sterilization Services Market by Region
In 2016, North America dominated the global sterilization services market. The growth in this market can mainly be attributed to the growing outsourcing of sterilization services by medical devices companies and hospitals, rising instance of HAIs, growing regulations for the use of sterilized medical devices, increasing number of surgeries performed in the US, and growing intensity of industry competitiveness.
The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Factors such as growing economies of China and India, increasing incidence of nosocomial infections, expanding medical device and pharmaceutical industry, and improved healthcare infrastructure in Asian countries are driving the growth of the sterilization services market. In addition, growing medical tourism in the region, especially for cardiovascular, orthopedics, oncology, and fertility treatments, is expected to increase the focus on the need for proper sterilization services in healthcare setups.
Factors such as the carcinogenic nature of ethylene oxide and difficulty in the sterilization of advanced medical instruments are likely to hinder the growth of the sterilization services market to some extent.
The players in the sterilization services market include STERIS (UK), Cantel Medical (US), Cretex Companies (US), E-BEAM Services (US), Medistri (Switzerland), Beta-Gamma-Service (Germany), Sterigenics International (US), COSMED Group (US), Life Science Outsourcing (US), Noxilizer (US), Centurion Medical Products (US), Johnson & Johnson (US), and Stryker (US).
Read More about Sterilization Services Market:
https://www.marketsandmarkets.com/Market-Reports/sterilization-service-market-183597324.html
