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Sterilization Services Market Size 2020 Global Industry Report, Forecast To 2025 | 7.12% CAGR

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Sterilization Services Market Size 2020 Global Industry Report, Forecast To 2025 | 7.12% CAGR

May 09
01:07 2020
Sterilization Services Market Size 2020 Global Industry Report, Forecast To 2025 | 7.12% CAGR

Sterilization Services Market
Sterilization Services Market trends was valued at USD 2743.91 Million in 2018 and is projected to expand at a considerable CAGR of 7.12% during the forecast period. Sterilization services are utilized by the medical technology industry to rid medical and diagnostic devices of bacteria and other microorganisms. Such services include electron beam sterilization, ethylene oxide sterilization, steam sterilization, and other procedures.

Sterilization Services Market is valued at USD 2743.91 Million in 2018 and expected to reach USD 4440.83 Million by 2025 with the CAGR of 7.12% over the forecast period.

Sterilization services are utilized by the medical technology industry to rid medical and diagnostic devices of bacteria and other microorganisms. Such services include electron beam sterilization, ethylene oxide sterilization, steam sterilization, and other procedures. Sterilization is the process of removing or killing biological agents. Biological agents are microorganisms and spore forms, such as, bacteria, fungi, viruses, and protozoa. Effective sterilization can be achieved by combination of heat, high pressure, radiation, chemical, and filtration. Advanced equipment used to provide sterilization services are capable of killing and disabling molecular form of prions which are infectious protein. With the use of new and more number of medical devices across the healthcare facilities, the type of sterilization services needs improvement by the companies operating in this market.

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Global sterilization services market report is segmented on the basis of service, application, indication, end-user and regional & country level. Based upon service sterilization services market is classified into clinical trials, toxicology, market authorization and regulatory support and others. Based upon application sterilization services market is classified into pet, livestock and wild. Based upon indication sterilization services market is classified into oncology, infectious, diseases, neurology and others. Based upon end-user sterilization services market is classified into biopharmaceutical companies and others.

The regions covered in this global sterilization services market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, sterilization services market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

News: June 6, 2018

Johnson & Johnson Announces Binding Offer from Fortive Corporation to Acquire Advanced Sterilization Products (ASP)

Johnson & Johnson announced that it has received a binding offer from Fortive Corporation to acquire its Advanced Sterilization Products (ASP) business, a division of Ethicon, Inc., for an aggregate value of approximately USD 2.8 billion, consisting of USD 2.7 billion of cash proceeds from Fortive and USD 0.1 billion of retained net receivables. ASP is a global leader in innovative infection prevention solutions with 2017 net revenue of approximately USD 775 million.

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Global Sterilization Services market Segmentation –

By Service Type:-

Clinical Trials, Toxicology, Market Authorization and Regulatory Support, Others

By Application:-

Pet, Livestock, Wild

By Indication:-

Oncology, Infectious Diseases, Neurology, Others

By End-User:-

Biopharmaceutical Companies, Others

Global Sterilization Services Market Dynamics –

Rising prevalence of hospital-acquired infections growth in the number of surgical procedures and increasing focus on food sterilization and disinfection are some factors driving the growth of the market. According to the latest data from the National Center for Health Statistics, 48 million surgical inpatient procedures were performed in the United States. However, strict regulatory rule forced by the FDA and other government bodies and hazards associated with the sterilization process, such as, carcinogenic properties of chemical used in the process as well as tendency of irradiation responsible for cell damage are some of the factors which are anticipated to impact the growth of the market. Moreover, factors such as the growth in the medical devices industry and increasing demand for e-beam sterilization are further providing growth opportunities for the global market during the forecast period.

Global Sterilization Services Market Regional Analysis –

North America dominates sterilization services market due to rising surgical procedures in the market thereby increasing the need for sterilization of surgical rooms is expected to drive the market growth. Moreover, healthcare-associated infections create additional suffering for patients, increase hospital stays with high cost, and resists the function of antimicrobials. According to the WHO, annual expenditure due to healthcare-associated infections is estimated to be approximately USD 7.7 billion in Europe and USD 6.5 billion in the US.

In 2016, asia-pacific region had around 10 million patients visiting for the solution to their medical problems, this instance is commonly known as medical tourism and this number is expected to rise annually by 15-17 % and therefore the need for sterilized equipment and surgical rooms is at extreme importance.

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