The global terminal sterilization services market size is expected to reach USD 18.97 billion by 2028 according to a new study by Polaris Market Research. The report “Terminal Sterilization Services Market Share, Size, Trends, Industry Analysis Report, By End Use (Hospitals & Clinics, Pharmaceuticals, Others); By Product; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into the current market dynamics and provides analysis on future market growth.
The industry is seeing massive growth in recent years due to factors such as an increase in the number of surgeries across the globe and rising cases of Hospital-acquired infections (HAIs). The emergence of the COVID-19 pandemic has provided an opportunity for the accelerated growth during the forecast period.
Many services systems include ethylene oxide, moist heat, and irradiation type of sterilizing. Ethylene oxide is the most commonly used low-temperature sterilizing technique as they are well suited for many medical instruments and devices. Terminal sterilizing systems have applications in hospitals, clinical laboratories, and pharmaceutical industries.
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Surgical procedures are increasing every year. It is estimated that more than 330 million surgical procedures are conducted globally every year. The increasing incidence of cancer, cardiovascular disease, and other chronic diseases are contributing to the growth of increased surgical procedures. In the US alone, more than 157 million people are living with some form of chronic disease.
New sterilizing systems are arriving in the industry, which is expected to be adopted in the hospitals in the coming years. Companies are also in the process of acquisition to increase the portfolio of products. For instance, In January 2021, Cantel Medical was acquired by Steris for USD 4.6 billion. Cantel has a wide range of disinfectant products in their portfolio, which Steris will now offer.
Industry participants include Getinge Group, Advanced Sterilization Products Services, Inc., Steris Plc, Belimed, Cantel Medical, 3M, Sterigenics International LLC, TSO3, Matachana Group, and Olympus Corporation are some of the key players operating in the global market.
Polaris Market Research has segmented the terminal sterilization services market report on the basis of product, end-use, and region:
Terminal Sterilization Services, Product Outlook (Revenue - USD Million, 2016 – 2028)
Terminal Sterilization Services, End-use Outlook (Revenue - USD Million, 2016 – 2028)
Terminal Sterilization Services, Regional Outlook (Revenue - USD Million, 2016 – 2028)