“The Sterilization Services Market Is Predicted To Reach USD 7.85 Billion With A CAGR Of 9.0% According To Market Data Forecast Report.”

“The Sterilization Services Market Is Predicted To Reach USD 7.85 Billion With A CAGR Of 9.0% According To Market Data Forecast Report.”

ID: 8197 | October 2018 | Region: Global


The Sterilization Services Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Sterilization Services Market is estimated to be USD 5.56 billion in 2018 and predicted to rise to USD 8.55 billion by 2023 with a CAGR of 9.0%. The market is segmented by Method (Steam, Ethylene Oxide, Gamma, E-beam), Type (Contract Sterilization Services, Validation Services), End User (Hospitals and Clinics, Food and Beverage, Pharmaceuticals). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

Factors such as the increasing incidence of HAIs, rising range of surgical procedures because of the fast-growing geriatric population, and rising prevalence of chronic disorders across the world are driving the market growth. Additionally, the increasing outsourcing of sterilization processes by medical device manufacturers and outsourcing of hospitals sterile departments to cut back health care prices are further increasing the demand for sterilized services.

The market is segmented based on Method, by Type and by End User. By type the market is categorized into Steam, Ethylene Oxide, Gamma, E-beam. The biggest share of sterilization services market in 2016 is contributed by Ethylene Oxide. The Ethylene Oxide sterilization segment will still dominate the sterilization services market, primarily due to the vast range of Ethylene Oxide sterilization service suppliers across the world and numerous advantages offered by this method like wide material compatibility, simple penetration into narrow lumen, and large sterilizing volume/chamber capacity. The market is divided into contract sterilization services and sterilization validation services depending on the type of the sterilization services. The biggest share of the sterilization services market in 2016 is commandeered by contract sterilization services. The massive share of this classification is attributed to the growing preference for contract sterilization services by medical device firms and increasing outsourcing by sterile processing departments (SPDs)/central sterile supply departments (CSSDs) in hospitals to specialised third-party vendors so as to cut back in-house prices involving sterilization. The sterilization services market is categorized into medical device companies, hospitals and clinics, pharmaceutical & biotechnology industry, and other end users depending on End User. In 2016, the biggest share of the sterilization services market is contributed by medical device companies category. Factors like the increasing number of medical device companies in growing countries, rising need to guarantee sterility, and increasing use of single-use products are driving the growth in this segment.

By geography the market is segmented into Latin America, Asia Pacific, Europe, North America, and Middle East and Africa. North America dominated the Sterilization Services market in 2016 followed by Europe, due to factors such as rise in the count of number of surgical procedures, growing need for sterilization and equipment in Health care infrastructure and outsourcing of products.  Asia – Pacific is anticipated to experience a high growth rate due to factors such as rising prevalence of geriatric population, high disposable incomes in economically growing countries like China and India, rising incidence of nosocomial infections, and improving healthcare infrastructure in Asian countries.

Browse through the full report at “https://www.marketdataforecast.com/market-reports/sterilization-services-market-8190/” and checkout our recent reports in the Healthcare category at “https://www.marketdataforecast.com/category/healthcare-1/”. For more insights and up-to-date industry news don’t forget subscribing to our newsletters.

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