Terminal Sterilization Services Industry Overview
The global terminal sterilization services market is expected to reach USD 24.39 billion by 2030, according to a new report by Grand View Research, Inc.The market is expected to expand at a CAGR of 10.63% from 2022 to 2030. Increasing the number of hospital-acquired infections globally is likely to stimulate the market demand. For instance, as per the Patient Care Link Organization, in the U.S. alone, the CDC has estimated that hospital-acquired infections account for 1.7 million infections 99,000 HAIs associated deaths. Terminal sterilization services help in sterilizing instruments used during surgical cases. Thus, with the increase in number of HAIs, hospitals are expected to use terminal sterilizers, thereby, impelling the market during the forecast period.
In addition, the increase in surgical procedures is expected to increase the demand for terminal sterilization services during the forecast period. For instance, as per Jama Network, there were an estimated number of 13,108,567 surgical procedures identified in 2019 in the U.S. Similarly, according to the Australian Institute of Health Welfare, 754,600 patients were admitted for surgery in the public hospitals. Moreover, as per a similar source, the gastrointestinal endoscopy had the largest growth of 107% in 2018. Endoscope needs to be sterilized after their use, and are sterilized by moist heating. Thus, with the increase in number of endoscopic procedures, the market is expected to impel during the forecast period.
Furthermore, with a decline in population suffering from COVID-19, the earlier postponed elective surgeries are expected to be scheduled in near future, as a result, the risk of HAIs and other infections in anticipated to increase. Additionally, many companies were involved in various strategies such as merger acquisition, product development, geographic expansion. For instance, in September 2021, Nelson Labs Sterigenics Germany GmbH announced opening a laboratory and expanding its sterilization facilities in Wiesbaden, Germany. This was expected to help the company capitalize on the growing demand for sterilization facilities. Thus, due to the aforementioned factors, the terminal sterilization services market is anticipated to grow significantly during the post-COVID period.
Terminal Sterilization Services Market Segmentation
Grand View Research has segmented the global terminal sterilization services market report on the basis of product, end use, and region:
Based on the Product, the market is segmented into Ethylene Oxide, Irradiation, X-ray, Gamma (Co-60), E-beam, Moist Heat Terminal Sterilization, and Others.
- On the basis of product the market is segmented into ethylene oxide, irradiation, moist heat terminal sterilization, and others. Among these, the ethylene oxide segment held the largest market share of 41.06% in 2021 and is expected to expand at a significant growth rate during the forecast period. EtO is currently expected to be the most extensively frequently used sterilization technique, owing to its compatible nature and low cost.
- Irradiation is a process in which an object is exposed to various rays for the process of sterilization. It has been further segmented into X-rays, gamma (Co 60), e beam others, and is estimated to witness the fastest CAGR of 11.02% during the forecast period. This can be attributed to a wide range of polymer compatibility of gamma rays, electron beams, and X-rays.
Based on the End-use, the market is segmented into Hospital Clinics, Pharma Nutraceuticals, Medical Device Manufacturing/Packaging, Other Manufacturing Sectors (Semiconductor, Food/Confectionaries, Chemical/Materials), Academic Research Institutes, and Others.
- Hospitals clinics segment held the largest market share of 26.87% in 2021 and is expected to witness a high growth rate of 11.33% during the forecast period. The increasing burden of HAIs is primarily boosting the demand for sterilization in hospitals and other healthcare settings.
- Usage of suitable disinfectants and sterilization methods is essential, as they can help prevent the transmission of infections. Therefore, with the increase in the number of HAIs, the use of terminal sterilization is expected to increase, thereby, propelling the market during the forecast period.
Key Companies Market Share Insights
The global market is fragmented in nature with the presence of and large and small manufacturers. Competitive rivalry in this market is expected to increase during the forecast period due to the presence of many local and key players in the market. Additionally, leading players are involved in collaborations, product launches, mergers acquisitions to strengthen their product portfolios. For instance, in January 2021, STERIS plc signed an agreement to acquire Cantel Medical, a provider of infection prevention services products, through its U.S. subsidiary in a transaction valued at approximately USD 4.6 billion in cash. Through this acquisition, the company was expected to offer a diversified range of infection prevention and procedural products service. Thus, the above-mentioned strategies will help the firm to strengthen its global presence. Some prominent players in the terminal sterilization services market include:
- Steris PLC
- 3M
- Getinge AB
- ASP (Fortive)
- Belimed, Inc. (Metal Zug Group)
- Sterigenics U.S., LLC- A Sotera Health Company
- Fedegari Group
- Olympus Corporation
- Andersen Sterilizers
- Steelco S.P.A
Order a free sample PDF of the Terminal Sterilization Services Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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