Sterilization Services Market Growth Analysis | 2023-2028

Market Insights

The sterilization services market was estimated at USD 4.45 billion in 2022 and is likely to grow at a CAGR of 5.82% during 2023-2028 to reach USD 6.25 billion in 2028.

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What are sterilization services?

Sterilization services can be defined as services that are aimed at eliminating unwanted microorganisms in the environment. Some of the commonly used methods for providing sterilization services include ethylene oxide (ETO) sterilization, gamma sterilization, electron beam radiation sterilization, and steam sterilization among others.

COVID-19 Impact

The COVID-19 outbreak posed significant challenges for the healthcare sector across geographies. It impacted the growth of the sterilization services market positively as the need for sterilization services increased significantly to prevent the spread of infection.

Market Dynamics

The growth of the sterilization services market is primarily driven by the increasing adoption of sterilization services in the healthcare industry. Expanding the geriatric populace and increasing surgical procedures is likely to drive the growth of the healthcare industry and thus, the sterilization services market.

Additionally, the growing emphasis on the development of advanced sterilization services methods is likely to create lucrative opportunities for the players operating in the global market in the coming years.

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Key Players

Key players operating in the market are-

• Steris Corporation (US)
• Cantel Medical Corporation (US)
• Cretex Companies, Inc. (US)
• E-BEAM Services, Inc. (US)
• Medistri SA (Switzerland)
• Sterigenics (US)
• Cosmed Group (US)
• Life Science Outsourcing, Inc. (US)
• Noxilizer Inc. (US)
• Sterilmed (US)
• Stryker Corporation (US).

Segment Analysis

By End-User Type

Based on end-users, the market has been segmented into medical devices, pharmaceutical & biotechnology, hospitals & clinics, and others. The hospitals & clinics segment accounted for the largest market share in 2022 and is projected to register a significant CAGR during the review period. The segment growth can be attributed to increasing healthcare spending across the geographies.

Regional Insights

Geographically, the market in North America accounted for the largest market share in 2022 and is expected to register a significant CAGR during the review period. The market growth can be attributed to the established presence of the healthcare industry coupled with the presence of key market players such as Steris Corporation (US) and Cantel Medical Corporation (US). The market in Asia-Pacific is expected to be driven by the increasing growth of the healthcare industry in developing countries, particularly China and India.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The sterilization services market is segmented into the following categories:

By Method Type

• Ethylene Oxide (ETO) Sterilization
• Gamma Sterilization
• Electron Beam Radiation Sterilization
• Steam Sterilization
• Other

By Service Type

• Contract Sterilization Services
• Sterilization Validation Services

By Mode of Delivery Type

• Offsite Sterilization Services
• Onsite Sterilization Services

By End-User Type

• Medical Device
• Pharmaceutical & Biotechnology
• Hospitals & Clinics
• Other

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Target Audience

Here is the list of the group of customers that the sterilization services market hopes to have the greatest opportunity to convert-

• Sterilization services manufacturers
• Sterilization services suppliers
• Sterilization services distributors
• Organizations
• Government bodies

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the method types by end-user type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.