The Terminal Sterilization Services Industry revenues were estimated at US$ 9.1 Billion in 2021 and is anticipated to grow at a CAGR of 12.7% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 33.5 Billion.
The market is being driven by a high incidence of chronic diseases, an increase in the frequency of Healthcare Acquired Infections (HAIs), and the impact of the COVID-19 epidemic. Heat sterilizers, ethylene oxide, and other sterilizing materials have surged in demand with the onset of COVID-19. The usage of sterilization equipment and services in hospitals, clinics, diagnostic labs, pharmaceutical manufacturing units, and the biopharmaceutical industry has increased significantly as a result of the significant requirement for effective sanitization of equipment and surroundings.
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The market has gained pace in recent years as a result of surged awareness about diseases and infections caused by non-sterile settings. In addition, there has been a significant increase in funding for hospital infrastructure, research, and public health adaption to terminal sterility.
Companies can develop a sterilization program using the Association for the Advancement of Medical Instrumentation (AAMI) and ISO criteria without the requirement for a big and time-consuming Sterilization technology department. These voluntary consensus standards have also supplied regulatory agencies such as the FDA with a reference point for determining product sterility.
Key Takeaways:
- The global Terminal Sterilization Services Industry is expected to grow at a CAGR of 12.7% from 2022 to 2032, reaching US$ 33.5 billion by 2032.
- The growth of the market is being driven by increasing demand for medical devices and pharmaceuticals, growing awareness of the importance of sterilization, and rising adoption of advanced sterilization technologies.
- The most common methods of terminal sterilization include ethylene oxide (EO) sterilization, gamma sterilization, and electron beam (EB) sterilization.
- The market is segmented by type, method, technology, end-use, and region.
- North America is the largest market for terminal sterilization services, followed by Europe. Asia Pacific is the fastest-growing market for terminal sterilization services.
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Major players in the Terminal Sterilization Services Industry include:
- Steris Plc
- Getinge Group
- Advanced Sterilization Products Services, Inc.
- 3M
- Belimed
- Matachana Group
- Sterigenics International LLC
- Olympus Corp.
- Stryker Corporation
- Johnson & Johnson
- DuPont
The following are some of the most recent developments from key terminal sterilization service providers:
- In August 2021, Amcor announced the development of a unique healthcare lidding technology that would be utilized for combination items containing two or more regulated components.
- In April 2019, Johnson & Johnson announced the completion of the sale of its Advanced Sterilization Products (ASP) business, which is a division of Ethicon, Inc., to Fortive Corporation for an estimated US$ 2.8 billion.
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Market Segments Covered in Terminal Sterilization Services Industry Analysis:
By Type:
- Ethylene Oxide
- Irradiation
- Moist Heat Terminal sterilization
- Other Types
By End Uses:
- Hospitals & Clinics
- Pharma
- Other End-uses
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa(MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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