Terminal Sterilization Services Market Size, Share & Trends Analysis Report By Product (Ethylene Oxide, Irradiation, Others), By End-use (Hospital & Clinics, Pharma & Nutraceuticals), By Region, And Segment Forecasts, 2023 - 2030

Terminal Sterilization Services Market Size, Share & Trends Analysis Report By Product (Ethylene Oxide, Irradiation, Others), By End-use (Hospital & Clinics, Pharma & Nutraceuticals), By Region, And Segment Forecasts, 2023 - 2030

Terminal Sterilization Services Market Growth & Trends

The global terminal sterilization services market is expected to reach USD 24.39 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 10.8% from 2023 to 2030. Increasing the number of hospital-acquired infections globally is likely to stimulate the market demand. For instance, as per the Patient Care Link Organization, in the U.S. alone, the CDC has estimated that hospital-acquired infections account for 1.7 million infections & 99,000 HAIs-associated deaths. Terminal sterilization services help in sterilizing instruments used during surgical cases. Thus, with the increase in number of HAIs, hospitals are expected to use terminal sterilizers, thereby, impelling the market during the forecast period.

In addition, the increase in surgical procedures is expected to increase the demand for terminal sterilization services during the forecast period. For instance, as per Jama Network, there were an estimated number of 13,108,567 surgical procedures identified in 2019 in the U.S. Similarly, according to the Australian Institute of Health & Welfare, 754,600 patients were admitted for surgery in the public hospitals. Moreover, as per a similar source, the gastrointestinal endoscopy had the largest growth of 107% in 2018. Endoscope needs to be sterilized after their use, and are sterilized by moist heating. Thus, with the increase in number of endoscopic procedures, the market is expected to impel during the forecast period.

Furthermore, with a decline in population suffering from COVID-19, the earlier postponed elective surgeries are expected to be scheduled in near future, as a result, the risk of HAIs and other infections in anticipated to increase. Additionally, many companies were involved in various strategies such as merger & acquisition, product development, & geographic expansion. For instance, in September 2021, Nelson Labs & Sterigenics Germany GmbH announced opening a laboratory and expanding its sterilization facilities in Wiesbaden, Germany. This was expected to help the company capitalize on the growing demand for sterilization facilities. Thus, due to the aforementioned factors, the terminal sterilization services market is anticipated to grow significantly during the post-COVID period.

Terminal Sterilization Services Market Report Highlights

• In terms of product, ethylene oxide segment held the largest share in 2022, owing to its compatible nature and low cost.
• On the basis of end-use, hospitals & clinics segment held the largest market share in 2022, and is expected to expand with highest CAGR of 11.5%. This can be attributed to increase in number of surgeries, surge in hospitalizations owing to COVID-19 and increase in use of endoscopes globally.
• North America is anticipated to dominate the global terminal sterilization market during the forecast period owing to high prevalence of hospital-acquired infections, advanced healthcare infrastructures, large presence of key players and implementation of favorable government initiatives.

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