The sterilization services market involves
sterilization of various medical devices used in healthcare settings to prevent
the spread of infections. It includes various chemical and physical
sterilization processes such as ethylene oxide sterilization, gamma
sterilization, e-beam sterilization and steam sterilization carried out by
specialized sterilization service providers. The need for sterilization
services arises due to the growing risk of hospital acquired or healthcare
associated infections caused by contaminated medical equipment. According to
WHO, around 1.4 million people worldwide contracts healthcare associated
infections annually leading to around 99,000 associated deaths. This has
increased the focus on effective sterilization practices.
The
global sterilization services market is estimated to be valued at US$ 4714.68
Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period
2024 To 2031.
Key Takeaways
Key players operating in the sterilization services are ESI Triage,
Emergency Medical Associates, VeEDIS Clinical Systems, HealthLynked Corp,
Innovative Health Media LLC, Digital Health Solutions LLC, PatientStack, Allm
Inc., Pulsara, PatientCare Technology, Averhealth LLC, Emergisoft, Kyruus,
Evolve Technology Solutions, eVisit, LeanTaaS, Twiage LLC, RapidDeploy,
SonarMD, and Qventus Inc. These players are focusing on expansion into new
markets and development of advanced sterilization technologies.
The key opportunities in the sterilization services market include growing
demand from ambulatory surgical centers and clinics, increasing number of
hospitals outsourcing sterilization processes and rising adoption of single use
medical devices which require sterilization.
The global
Sterilization
Services Market Demand has high growth opportunities in emerging
economies of Asia Pacific, Middle East and Africa due to increasing healthcare
infrastructure, rising medical tourism and greater acceptance of outsourcing of
non-core activities. Key players are expanding their operations in these
regions through strategic partnerships and acquisitions.
Market drivers and restrain
The major market driver for sterilization services is the increasing
prevalence of hospital acquired infections globally. As per CDC, around 1 in 25
hospital patients in the US contracts at least one HAIs leading to around
99,000 associated deaths annually. This has increased the focus on effective
sterilization of medical equipment and devices to curb infections.
Another major driver is the preference of healthcare facilities to outsource
non-core sterilization services to specialized third party providers. This
allows hospitals to focus on core patient care activities while ensuring
rigorous sterilization standards through experienced service partners.
A key market restrain is the complex regulatory framework around sterilization
practices. Stringent regulations and standards set by organizations like FDA
and WHO increase compliance burden, especially for cross border sterilization
activities. Moreover, limitations of certain sterilization techniques also act
as a minor challenge. For instance, heat or gamma sterilization cannot be used
for heat or radiation sensitive medical devices.
Segment Analysis
The sterilization services market is dominated by the contract
sterilization services sub segment. Contract sterilization services offer
sterilization services on a contractual basis to different end-users like
hospitals, medical device companies, pharmaceutical companies etc. They
undertake sterilization activities on behalf of their clients using modern
sterilization equipment and techniques. Contract sterilization service
providers have developed specialized expertise and infrastructure for
sterilization which makes them a preferable option for many end-users who want
to outsource their sterilization functions.
Global Analysis
Regionally, North America dominates the sterilization services market
currently. This is due to the presence of major pharmaceutical and medical
device companies in the US who generate significant demand for sterilization
services. Moreover, advanced healthcare infrastructure and majority market
share of the US has contributed to North America's prominence. However, Asia
Pacific region is expected to be the fastest growing market during the forecast
period. Increasing investments in healthcare sector from government and private
players, rising medical tourism, growing number of contract research and
manufacturing organizations in countries like India and China are fueling the
demand for sterilization services in Asia Pacific.
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more insights on Sterilization
Services Market
About Author:
Money Singh is a seasoned content writer with over
four years of experience in the market research sector. Her expertise spans
various industries, including food and beverages, biotechnology, chemical and
materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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