Sterilization Services Market Forecast to 2030 - Geographic Analysis by Mode of Delivery (Offsite Sterilization Services and Onsite Sterilization Services), Method (Ethylene Oxide, Chlorine Dioxide, Gamma Ray, Electron Beam, Autoclave Steam, and Others),

Sterilization Services Market Forecast to 2030 - Geographic Analysis by Mode of Delivery (Offsite Sterilization Services and Onsite Sterilization Services), Method (Ethylene Oxide, Chlorine Dioxide, Gamma Ray, Electron Beam, Autoclave Steam, and Others), Service Type (Contract Sterilization and Microbial Reduction Services, Testing and Validation Services, Equipment, and Others), End User (Medical Device Companies, Pharmaceutical and Biopharmaceutical Companies, Hospitals and Clinics, and Others), and Geography

The global sterilization services market is expected to reach US$ 6,210.13 million in 2030 from US$ 3,367.88 million in 2022. The market is estimated to grow with a CAGR of 7.9% from 2022 to 2030.

The key factors that are driving the growth of market are increasing prevalence of healthcare associated infections and increasing number of surgical procedures worldwide. However, stringent regulation regarding chemical emission is hampering the growth of the market to a certain extent. Furthermore, the growth of the sterilization services market in the US is determined due to factors such as the easy increasing prevalence of healthcare-associated infections, and a rising number of surgical procedures is dominating the sterilization services market across the region.

Growing Medical Device Industry Opportunity for Growth of Sterilization Services Market

The medical device industry is projected to experience significant growth owing to constant technological advancements. The rising need for better healthcare facilities has encouraged developing economies to focus on technology-enabled healthcare solutions. The increase in the elderly population, cases of chronic illnesses, and pediatric care have also surged the demand for advanced healthcare facilities. Additionally, top revenue-generating medical device companies are investing significantly in the R&D of advanced technologies and sterilization services.

Medical devices and equipment are essential tools used to monitor patients. Sterilization is one of the crucial steps in the medical device manufacturing process. The sterilization modality varies based on material compatibility, process availability, processing location, physical device attributes, regulatory approval, cost, and regulatory registration within the countries. The sterilization of medical devices is vital during manufacturing as well as usage. Inappropriate device sanitization can cause health risks and difficulties in getting market clearance from regulatory bodies such as the FDA. Further, healthcare organizations are required to properly manage sterilization to ensure the safety of patients. Thus, the growing medical device industry is expected to offer lucrative opportunities to the key players in the sterilization services market.

Stringent Regulation Regarding Chemical Emission Hamper Growth of Sterilization Services Market

The sterilization services market has accelerated in the last few years owing to the growing application of sterilization services across a wide range of medical devices and pharmaceuticals. Ethylene oxide (EtO) sterilization is widely used in the medical device industry. As per the FDA, over 20 billion medical devices are sold annually in the US and are sanitized using EtO, accounting for ~50% of all devices. However, due to increased concern over the toxicity of EtO residuals, the Environmental Protection Agency recently imposed restrictions on its use; further, the shutting down of multiple sterilization facilities has posed various challenges to medical device manufacturers.

Mode Of Delivery -Based Insights

The sterilization services market, by mode of delivery, is bifurcated into offsite sterilization services and onsite sterilization services. The offsite sterilization segment held a larger market share in 2022 however, onsite sterilization segment is anticipated to register a higher CAGR of 8.2% during the forecast period. The offsite sterilization segment led the market in 2022 with a share of 59.30% and is expected to retain its dominance during the forecast period by accounting for 58.48% of the total market by 2030.

Method-Based Insights

The sterilization services market, by method, is segment into ethylene oxide, chlorine dioxide, gamma ray, electron beam, autoclave steam, and others. The ethylene oxide segment held a largest market share in 2022 and chlorine dioxide segment is anticipated to register a highest CAGR of 8.8% during the forecast period. The ethylene oxide segment led the market in 2022 with a share of 31.16%, however, gamma ray is expected to dominate the market during the forecast period by accounting for 30.51% of the total market by 2030.

Service Type-Based Insights

The sterilization services market, by service type, is segment into contract sterilization and microbial reduction services, testing and validation services, equipment, and others. The contract sterilization and microbial reduction services segment held a largest market share in 2022 and same segment is anticipated to register a highest CAGR of 8.4% during the forecast period. The contract sterilization and microbial reduction segment led the market in 2022 with a share of 40.72% and is expected to retain its dominance during the forecast period by accounting for 42.15% of the total market by 2030.

End User-Based Insights

The sterilization services market, by end user, is segment into medical device companies, pharmaceutical and biopharmaceutical companies, hospitals and clinics, and others. The medical device companies segment held a largest market share in 2022 and same segment is anticipated to register a highest CAGR of 8.4% during the forecast period. The medical device companies segment led the market in 2022 with a share of 45.82% and is expected to retain its dominance during the forecast period by accounting for 47.42% of the total market by 2030.

A few of the major primary and secondary sources referred to while preparing the report on the sterilization services market are the FDA (Food and Drug Administration), EUA (Emergency Use Authorization), EMA (European Medicines Agency), and EPA (Environmental Protection Agency)

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