Sterilization Services Market Analysis - Forecasts to 2025 By Services (Offsite & Onsite); By End-Use (Pharmaceuticals, Hospitals); By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa); End-use Landscape; Vendor Landscape; and Competitor Analysis - Global Market Estimates
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.).
Please note: This is not an exhaustive list of companies profiled in the report.
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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The global sterilization services market research report has been studied from the year 2016 till 2025. However, the CAGR provided in the market study is from the year 2017 to 2025. The market research methods involved three stages: Desk research, Primary survey research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the sterilization services market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, demand forecasting, SWOT analysis of the companies, and customer analytics.
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