Sterilization Services Market Insights:
The global sterilization services market is anticipated to grow at a CAGR of more than 9 % during the forecast period. Increasing occurrence of hospital-acquired infections, growing number of surgical procedures, rising number of hospitals and hospital sterilization procedures in Asia are likely to boost the market growth.
Increase in aging population coupled with increasing number of pharmaceutical companies, and expansion of the food & beverage industry globally, are few of the other factors which contribute to such growth.
Sterilization procedures are used to remove all possible life forms such as bacteria, viruses, prions, fungi, and spore forms from surfaces of equipment, medications, pharmaceuticals, food ingredients, and biological culture medium.
Different types of sterilization procedures and operating systems are used to cater varying needs of certain products in different industries. Most of the products in hospitals and medical device industry are terminally sterilized. Industrial sterilization processes such as regulating number of initial organisms and maintaining temperature in every part of equipment are few of the other factors which are responsible for industry growth.
Administrative compliance issues along with saturated developed markets are anticipated to limit the sterilization services market growth over the forecast period.
Based on services, the sterilization services market is divided into offsite sterilization and onsite sterilization. The offsite segment accounted for the largest share of the sterilization services market in 2016. This can be attributed to the benefits of offsite sterilization over in-house procedures. These advantages along with a focus on cost regulation are expected to drive the segment over the forecast period.
Sterilization Services Market: End-Use Insights
Based on end-user, the sterilization services market is divided into pharmaceutical companies, medical device companies, and food & beverage companies among others. The pharmaceutical companies segment is projected to witness highest CAGR over the forecast period. The growing number of pharmaceuticals industries globally is anticipated to be one of the major reasons for the growth in sterilization services market.
Sterilization Services Market - Regional Insights:
North America dominated the sterilization services market in 2016 followed by Europe, Asia, and the Rest of the World. North America is anticipated to continue this lead over the coming years.
The Asia Pacific sterilization services market is anticipated to grow at the highest CAGR over the forecast period. This growth is likely to be centered on China, India, and Japan. Factors such as economic development in China & India, increasing incidence of nosocomial infections, and enhanced healthcare infrastructure in Asian countries are expected to drive the sterilization services market growth in this region.
Sterilization Services Market: End-Use Landscape
The end-use landscape includes a list of current and prospective consumers existing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from sterilization services market. The major consumers of the product are Rush University Medical Center, Mayo Clinic, and Cleveland Clinic.
Sterilization Services Market - Competitive Landscape:
Major players in the sterilization services market are STERIS Corporation (U.S.), Belimed AG (Switzerland), Getinge Group (Sweden), Advanced Sterilization Products (U.S.), Cantel Medical Corp. (U.S.), 3M Company (U.S.), Anderson Products, Inc. (U.S.), Matachana Group (S.A.), MMM Group (Germany), and Sterigenics International, Inc. (U.S.).
Some of the other key players include Avure Technologies, Inc. (U.S.), Barry-Wehmiller Co. (U.S.), Beta Star Life Science Equipment, Inc. (U.S.), Donaldson Co. Inc. (U.S.), Eaton Filtration LLC (U.S.), Fedegari Autoclavi SpA (Italy), Feldmeier Equipment Co. (U.S.), LTE Scientific Ltd. (UK), Food Technology Service Inc. (U.S.), Goodnature Products Inc. (U.S.), Gray Star Inc. (U.S.), and IBA Group (Belgium),
In Jan 2017, Advanced Sterilization Products (ASP), part of the Johnson & Johnson Medical Devices Companies announced the launch of new STERRAD® 100NX System with ALLClearTM technology. It is specially designed to help protect patients against health-care-related infections.
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