Ethylene Oxide Sterilization Services Market Size, Share & Trends Analysis Report By End-use (Hospitals, Outpatient Facilities), By Region (North America, Europe), And Segment Forecasts, 2023 - 2030

Ethylene Oxide Sterilization Services Market Size, Share & Trends Analysis Report By End-use (Hospitals, Outpatient Facilities), By Region (North America, Europe), And Segment Forecasts, 2023 - 2030

Ethylene Oxide Sterilization Services Market Growth & Trends

The global ethylene oxide sterilization services market size is anticipated to reach USD 9.9 Billion by 2030, and expanding at a CAGR of 10.7% according to a new report by Grand View Research, Inc. The market growth can be attributed rising number of surgeries and incorporation of several manufacturing units which require ethylene oxide for sterilization process. This may impel the market over the forecast period.

Moreover, hospital acquired infections (HAIs) are a significant concern in healthcare facilities, as they can lead to increased morbidity, mortality, and healthcare costs. In the U.S., HAIs are estimated to affect approximately 2 million patients each year and are associated with 99,000 deaths. Similarly, in Europe, it is estimated that 5-10% of hospital patients acquire an HAI each year, leading to 37,000 deaths. Thus, with rising number of HAIs, medical facilities are expected to focus more on sterilization of medical equipment, which may boost the usage of ethylene oxide sterilization.

In addition, increasing number of surgical procedures globally may further grow the demand for ethylene oxide sterilization services. For instance, in the U.S., it is estimated that approximately 48 million surgeries are performed each year, with that number projected to increase in the coming years. Similarly, in Europe, the number of surgical procedures has increased by approximately 50% over the last 20 years, whereas, in some developing countries, the number of surgical procedures has increased significantly due to improved access to healthcare and increased availability of trained healthcare professionals. Therefore, with surge in surgical procedures globally, the usage & manufacturing of medical devices may increase, which may further drive the sterilization services market growth.

Ethylene Oxide Sterilization Services Market Report Highlights

• Hospitals dominated the end-use segment in 2022 owing to increasing number of hospital settings globally. However, outpatient facilities segment is projected to witness fastest growth rate of 11.0% during the forecast period.
• In 2022, North America dominated the ethylene oxide sterilization services market with a market share of 35.5% in 2022. This can be accredited to rising number of surgeries, along with surge in number hospital acquire infections in this region.
• Asia Pacific is projected to impel at the fastest growth rate of CAGR 11.0% during the forecast duration. Increased prevalence of hospital acquired infections (HAIs), and rising number of surgeries in this region.

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