New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sterilization Services Global Market Report 2023" - https://www.reportlinker.com/p06466524/?utm_source=GNW
, Stryker Corporation, STERIS PLC, MMM Group, Belimed AG, H.W.Andersen Products Ltd., MICROTROL Sterilisation Services Pvt. Ltd., Medline Industries Inc., Avantti Medi Clear MBP, Steripure SAS, Europlaz Technologies Limited, Centerpiece, Midwest Sterilization Corporation, and Blue Line Sterilization Services LLC.
The global sterilization services market is expected to grow from $4.28 billion in 2022 to $4.62 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sterilization services market is expected to reach $6.18 billion in 2027 at a CAGR of 7.6%.
The sterilization services market includes revenues earned by companies by providing overkill sterilization validation, bioburden-biological indicator (combination) sterilization validation, and bioburden-based sterilization validation.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Sterilization services refer to the services that offer sterilization processing in which all forms of microbial life are destroyed and eliminated by using physical and chemical methods. These are used to remove most or all pathogenic microorganisms from inanimate objects, excluding bacterial spores.
North America was the largest region in the sterilization services market in 2022. The regions covered in sterilization services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of sterilization services are sterilization validation services and contract sterilization services.Sterilization validation services refer to the services that conduct sterilization validation tests that confirm the sterility assurance level (SAL) of the medical device or equipment.
It uses various sterilization methods, such as x-ray irradiation, ETO sterilization, gamma sterilization, e-beam sterilization, and steam sterilization, with on-site and off-site sterilization services delivery option. It is used by several end-users, such as hospitals and clinics, medical device companies, pharmaceutical and biotechnology companies, and others.
The growing prevalence of hospital-acquired infections (HAIs) is expected to propel the growth of the sterilization services market going forward.Hospital-acquired infections (HAIs) occur when a person receives treatment for another ailment in a medical facility.
The increasing use of reusable medical equipment in hospitals, such as pulse oximetry sensors, catheters, stethoscopes, and other reusable devices, is one cause for the increased occurrence.Thus, reusable medical equipment and hospital premises must be sterilized to minimize the spread of such illnesses.
For instance, in 2021, according to the Centers for Disease Control and Prevention, a US-based health agency under the Department of Health and Human Services, hospital-acquired methicillin-resistant staphylococcus aureus (MRSA) infections increased by 14% from 2020 to 2021.Further, there was 7% increase in central line-associated bloodstream infection (CLABSI) between 2020 and 2021.
Thus, the growing prevalence of hospital-acquired infections is driving the growth of the sterilization services market.
Product innovations are a key trend gaining popularity in the sterilization services market.Major companies operating in the sterilization services market are focused on developing new solutions to strengthen their position in the market.
For instance, in January 2023, PAMA Manufacturing and Sterilization, a Canada-based company specializing in medical device manufacturing and sterilization, launched an innovative ethylene oxide (EO) sterilization solution.This sterilization system uses 50% less EO gas, recycles it, and effectively prevents the direct release of EO into the environment.
This technique uses 50% less EO gas throughout the sterilization cycle and responsibly recycles the EO.The closed system efficiently prevents the direct release of EO into the environment by capturing any consumed EO and sending it to our on-site scrubber for the elimination of hazardous compounds.
The system’s design is structured to be cost-effective, eco-efficient, and safe without compromising the sterility results of the traditional system.
In December 2021, Owens & Minor Inc., a US-based healthcare solutions and logistics company, acquired American Contract Systems (ACS) for an undisclosed amount. Through this acquisition, Owens & Minor intensifies its CPT offering with unique sterilization services by adding ACS’s unique local sterilization capabilities. It offers sterilization capabilities with less use of ethylene oxide, making it safer for communities and the environment. American Contract Systems (ACS) is a US-based company that provides kitting and sterilization services for Custom Procedure Tray (CPT) solutions.
The countries covered in the sterilization services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The sterilization services market research report is one of a series of new reports that provides sterilization services market statistics, including sterilization services industry global market size, regional shares, competitors with a sterilization services market share, detailed sterilization services market segments, market trends and opportunities, and any further data you may need to thrive in the sterilization services industry. This sterilization services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466524/?utm_source=GNW
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