Sterilization Services Market is expected to reach US$ 4,400.18 Mn by 2027


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Uploaded on Jul 21, 2021

According to The Insight Partners market research study of ‘Sterilization Services Market to 2027 - Global Analysis and Forecasts by Method, Service Type, Mode of Delivery and End-User’. The global Sterilization Services market is anticipated to reach US$ 4,400.18 Mn in 2027 from US$ 2,712.32 Mn in 2019. The market is anticipated to grow with a CAGR of 6.3% from 2020-2027. The report provides trends prevailing in the global sterilization services market and the factors driving market along with those that act as hindrances. For More Info @ https://www.theinsightpartners.com/pr/sterilization-services-market

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Sterilization Services Market is expected to reach US$ 4,400.18 Mn by 2027

Sterilization Services Market Forecast to 2027 The sterilization services market was valued at US$ 2,712.32 million in 2019 and is expected to grow at a CAGR of 6.3% from 2020 to 2027 to reach US$ 4,400.18 million by 2027. Sterilization is a process that helps to eliminate, removes, or deactivates all forms of life and other biological agents present in food, the surface of an article or in a fluid, etc. Sterilization can be done through various means such as heat, chemicals, irradiation, high pressure, and filtration. Lucrative Regional Sterilization Services Markets Market Insights Increasing Prevalence of Healthcare Associated Infections Millions of people across the world get affected by HAIs (healthcare-associated infections) while receiving health treatments. Factors such as inadequate hygiene environment conditions, poor infrastructure absence of guidelines, and lack of knowledge regarding infection control measures are increasing the prevalence of HAIs. The common HAIs caused by inadequate sterilization procedures are hepatitis B and C, surgical site infections (SSI), HIV infection, urinary and vascular catheter-associated infections, and ventilator-associated infection. Healthcare-associated infections create additional suffering for patients, increase hospital stays with high cost, and resists the function of antimicrobials. According to the WHO, annual expenditure due to healthcare-associated infections is estimated to be approximately US$ 7.7 billion in Europe and US$ 6.5 billion in the US. The above mentioned facts highlight the importance of sterilization in the healthcare domain to prevent HAIs. Lack of sterilization in surgical instruments and reusable objects such as endoscopic devices, respiratory care devices, and hemodialysis devices, lead to HAIs. Method Insights The global sterilization services market, based on method, has been segmented into ethylene oxide (ETO) sterilization, gamma sterilization, electron beam radiation sterilization, steam sterilization, and other sterilization methods. Global sterilization services market, by Product Type – 2018 & 2027 Service Type Insights Product Insights Global sterilization services market, based on service type was segmented into contract sterilization services and sterilization validation services. The contract sterilization services market witnessed the highest share in 2019 and is expected to show noteworthy growth during the forecast period owing to various services in different fields. In terms of market share, contract sterilization services market held the largest market share. Additionally, it is likely to witness growth opportunities due to increasing market for companion animal medications and rising number of uses for contract sterilization over the last years. Mode of Delivery Insights The global sterilization services market, based on mode of delivery, has been segmented into offsite sterilization services and onsite sterilization services. The offsite sterilization services segment held the largest share of the market, by mode of delivery. Hospital infections pose various challenges to health centers. Healthcare-associated infections increase the hospitalization period and complications in patient condition. Currently, the healthcare services market is changing rapidly. There is an intense competition among service providers, and policies governing the industry are continually evolving. With regard to sterilization, many hospitals are opting offsite sterilization services. The offsite sterilization services held the largest market share in the mode of delivery segment and is expected to dominate the market during the forecast period. The increasing number of service providers and rising trend of outsourcing sterilization services are prime factors to fueling the growth of the market for offsite delivery of sterilization services. End-User Insights The global sterilization services market, based on end user, has been segmented into medical device companies, hospitals & clinics, pharmaceutical & biotechnology companies and other end users. The medical device companies segment held the largest share of the market, by end user. The demand for medical devices is estimated to increase in the coming years owing to the increasing population and prevalence of chronic diseases Company Profiles • BGS Beta-Gamma-Service GmbH & Co. KG. • Cosmed Group • E-BEAM Services Inc • Life Science Outsourcing Inc. • MEDISTRI SA • Midwest Sterilization Corporation • Sterigenics U.S. LLC • Microtrol Sterilisation Services Pvt Ltd. • Cantel Medical • STERIS plc. Dominating Segments Global Sterilization Services Market – By Service Type Clinical Trials Toxicology Market Authorization and Regulatory Support Others Global Sterilization Services Market – By Application Pet Livestock Wild Global Sterilization Services Market – By Indication Oncology Infectious Diseases Neurology Others Global Sterilization Services Market – By End User Biopharmaceutical Companies Others Sterilization Services Market    Access Full Research Report at: https://www.theinsightpartners.com/reports/sterilization-services-market/   Thank You! Thank You!