Globe Newswire reports that Reportlinker.com has released a research on the sterilization services market. The report states that the global sterilization services market is projected to reach $5.5 billion by 2026 from an estimated $4.1 billion in 2021.
The introduction of mandates by government and regulatory bodies in the health care industry is the primary reason for the market witnessing significant growth. The growth of the sterilization services market can largely be attributed to factors such as the high incidence of hospital-acquired infections; the increasing number of surgical procedures; the growing focus on food sterilization; and the increasing outsourcing of sterilization services among pharmaceutical companies, hospitals and medical device manufacturers. In addition, the growing medical device and pharmaceutical companies in emerging economies, increasing use of E-beam sterilization, reintroduction of ethylene oxide sterilization and the growing health care industry and outsourcing of operation to emerging countries are expected to offer high-growth opportunities for market players during the forecast period.
With the surge in COVID-19 cases, there is an increasing focus on personal hygiene and the production of medical nonwovens and single-use products, such as face masks and gloves. This is further expected to drive the growth of the sterilization services market in the coming years.
On the other hand, concerns regarding the safety of reprocessed instruments are expected to limit market growth to some extent in the coming years. This, along with the end-user noncompliance with sterilization standards, is expected to restrain the growth of this market.
The ethylene oxide (EtO) sterilization segment accounted for the largest share of the sterilization services market in 2020. This segment’s large share 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.
In 2020, the contract sterilization services segment accounted for the largest share and is also expected to grow at the highest CAGR during the forecast period. This can be attributed to the growing preference for contract sterilization by medical device companies and the increasing outsourcing of sterile processing by hospitals to specialized third-party vendors to reduce in-house costs related to sterilization.
In 2020, the off-site sterilization services segment accounted for a larger share of the sterilization services market.
The limited availability of space in in-house sterile processing departments, better efficiency of contract sterilization process than in-house sterilization, greater output with less financial risk, and the cost reduction benefits offered by off-site sterilization services are key factors supporting the segment’s growth.
The medical device company segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment is majorly attributed to the rising prevalence of HAIs, increasing adoption of single-use medical devices, the growing medical device industry and the rising number of surgical procedures worldwide.
In 2020, North America accounted for the largest share of the sterilization services market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The region’s large share can be attributed to the growing demand for and adoption of sterilization services due to the rising focus on healthy lifestyles and disease prevention among consumers.
A surge in the geriatric population in the coming years and the subsequent increase in the prevalence of chronic diseases, the need for sterilization services to minimize the prevalence of HAIs, and implementation of favorable government initiatives and stringent regulations for sterilization services are also expected to propel the sterilization services market in North America.