New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Terminal Sterilization Services Global Market Report 2023" - https://www.reportlinker.com/p06466562/?utm_source=GNW
, Matachana Group, Andersen Sterilizers, Steelco S.P.A, Fedegari Group, Sotera Health Co., E-BEAM Services Inc., and BGS Beta-Gamma-Service GmbH & Co. KG.
The global terminal sterilization services market is expected to grow from $10.50 billion in 2022 to $11.62 billion in 2023 at a compound annual growth rate (CAGR) of 10.69%. 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 terminal sterilization services market is expected to reach $17.96 billion in 2027 at a CAGR of 11.51%.
The terminal sterilization services market includes revenues earned by entities by autoclaving, dry heat sterilization, hydrogen peroxide sterilization, and ethylene oxide sterilization.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.
Terminal sterilization is the process of sterilizing a product in its final stage by exposing it to either physical or chemical sterilizing agents. Terminal sterilization services primarily ensure the sterility of the product and also obtain a sterility assurance level (SAL) for that product.
North America was the largest region in the terminal sterilization services market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of terminal sterilization services are contract sterilization services and sterilization validation services.Contract sterilization services refer to the sterilization services provided under contract by an establishment to different companies to sterilize their final products.
They are employed by various methods, including ethylene oxide sterilization, gamma sterilization, steam sterilization, electron beam radiation sterilization, and x-ray, with various technologies such as gravity, vacuum, steam, forced convention, and natural convention. Terminal sterilization services are used by end users such as hospitals and clinics, pharma and nutraceuticals, medical device manufacturing and packaging, other manufacturing sectors (semiconductors, food and confectionaries, chemicals, and materials), academic research institutes, and other end users.
The increasing incidence of hospital-acquired infections is expected to propel the growth of the terminal sterilization services market going forward.Healthcare-associated infections, also known as hospital-acquired infections, are nosocomially acquired infections that are neither present nor incubating at the time of hospital admission.
Terminal sterilization is a mandatory process in hospitals for medical devices and instruments, especially those that are inserted into the patient’s body after every use, to avoid contamination and protect the patients from hospital-acquired infections.For instance, in May 2022, according to reports by the World Health Organization, a Switzerland-based health agency, more than 24% of patients worldwide were affected by healthcare-associated infections in 2022.
Furthermore, according to the Centers for Disease Control and Prevention (CDC), a US-based government agency, in the US, there were estimates that hospital-acquired infections accounted for an estimated 1.7 million infections and 99,000 associated deaths each year, and additionally, 32% of all healthcare-acquired infections in the US by 2022. These numbers are expected to rise in the future. Therefore, the increasing incidence of hospital-acquired infections drives the market for terminal sterilization services.
Technological advancements are a key trend gaining popularity in the terminal sterilization services market.Major companies in the terminal sterilization services sector are focused on developing new technologies to reduce sterilization time, improve safety, and strengthen their market position.
In November 2020, Andersen Sterilizers, a USA-based gas sterilizer manufacturer, received FDA clearance for its EOGas 4 ethylene oxide gas sterilizer for terminal sterilization of duodenoscopes and colonoscopes at low temperatures.It employs an emission-reducing technology for reducing emissions from the EO sterilization process close to zero.
It reduces the sterilization time to 3.5 hours.
In August 2020, Sotera Health Company, a US-based provider of sterilization, lab testing, and advisory services to the medical device, pharmaceutical, and food industries, acquired Iotron Industries for an undisclosed amount.Through this acquisition, Sotera Health Company strengthened its global sterilization solutions portfolio by extending Sterigenics’ sterilization and materials modification capabilities using Electron Beam (E-Beam) technology.
Iotron Industries is a Canada-based provider of E-beam sterilization services for medical devices and industrial applications.
The countries covered in the terminal 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 terminal sterilization services market research report is one of a series of new reports that provides terminal sterilization services market statistics, including global market size, regional shares, competitors with a terminal sterilization services market share, detailed terminal sterilization services market segments, market trends and opportunities, and any further data you may need to thrive in the terminal sterilization services industry. This terminal 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.
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