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| Sterilization Services Market |
The global Sterilization Services Market is estimated to be valued at US$ 4,092.6 Mn in 2023 and is expected
to exhibit a CAGR of 6.3% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Sterilization refers to a process that eliminates or kills all forms of
microbial life by using chemical or physical means. Sterilization of medical
equipment and devices, pharmaceutical products, tissues, and food packaging is
essential to prevent infection and contamination. Services related to
sterilization are gaining importance with the rise in complex surgical
procedures requiring sterilized medical equipment and devices.
Market key trends:
Advances in sterilization technologies are fueling the growth of the
sterilization services market. Companies are focusing on developing novel and
innovative sterilization methods such as vaporized hydrogen peroxide, ozone
sterilization, and pulsed light technology that are more effective and can be
applied to a wide range of products as compared to conventional technologies.
For instance, ozone sterilization is a green technology that can sterilize
temperature and moisture-sensitive products. Adoption of such advanced
technologies is expected to drive the demand for sterilization services during
the forecast period.
Segment Analysis
The global sterilization services market is segmented into instrument
sterilization, ethylene oxide (EtO) sterilization, gamma sterilization,
electron beam radiation sterilization, and other sterilization techniques. The
instrument sterilization segment dominated the market in 2022 owing to the
increasing number of medical procedures being performed worldwide that require
sterilization of surgical instruments as a part of hospital protocols. The
segment is expected to continue its dominance over the forecast period due to
the rising number of independent sterilization service providers focusing on
instrument sterilization services.
Key Takeaways
The global Sterilization
Services Market Growth is expected to witness high growth, exhibiting a
CAGR of 6.3% over the forecast
period, due to the increasing number of surgical procedures performed globally
every year.
The North America region dominated the sterilization services market in 2022
due to the presence of major market players and rising healthcare expenditure
in countries like the US and Canada. Asia Pacific is expected to be the fastest
growing regional market during the forecast period, growing at a CAGR of 7.1%,
due to the increasing demand for sterilized instruments amid rising medical
tourism in countries like India and China.
Key players operating in the sterilization services market are Steris
Corporation, Noxilizer Inc., Medistri SA, Judd Medical Limited, E-BEAM Services
Inc., Cantel Medical Corporation, Stryker Corporation (TSO3 Inc.), BGS
Beta-Gamma-Service GmbH & Co. KG, and B Braun Melsungen AG (B Braun Medical
Ltd.), among others. Steris Corporation dominated the market share in 2022
owing to its wide geographical presence and sterilization service portfolio
offered.
For
more details on the report, Read- https://www.ukwebwire.com/sterilization-services-market-trends-size-and-share-analysis/
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