Sterilization Services Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and a future prospect from the year 2021 to 2026. It also offers accurate overview of the growth strategies, market size, mergers & acquisitions, and upcoming products/services of leading key players in this market.
The report analyses the market thoroughly and collects data in order to offer reliable data to the users. The present report mentions that the Sterilization Services Market is expected to grow from USD 3.9 billion in 2020 to USD 5.4 billion by 2026 at a CAGR of over 5.8% during the forecast period.
The growth of the sterilization services market is primarily driven by the increasing adoption of sterilization services in the healthcare industry. Expanding the geriatric populace and increasing surgical procedures is likely to drive the growth of the healthcare industry and thus, the sterilization services market. Additionally, the growing emphasis on the development of advanced sterilization services methods is likely to create lucrative opportunities for the players operating in the global market in the coming years.
Market Segments' Analysis
According to Stratview Research, the Sterilization Services Market is segmented By Method (Ethylene Oxide (ETO) Sterilization, Gamma Sterilization, Electron Beam Radiation Sterilization, Steam Sterilization, Other) Service Type (Contract Sterilization Services, Sterilization Validation Services), Mode of Delivery (Offsite Sterilization Services, Onsite Sterilization Services), End User (Medical Device, Pharmaceutical & Biotechnology, Hospitals & Clinics, Other) and Region.
Based on end-users, the market has been segmented into medical devices, pharmaceutical & biotechnology, hospitals & clinics, and others. The hospitals & clinics segment accounted for the largest market share in 2020 and is projected to register significant CAGR during the review period. The segment growth can be attributed to increasing healthcare spending across the geographies.
Geographically, the market in North America accounted for the largest market share in 2020 and is expected to register significant CAGR during the review period. The market growth can be attributed to the established presence of the healthcare industry coupled with the presence of key market players such as Steris Corporation (US) and Cantel Medical Corporation (US). The market in Asia-Pacific is expected to be driven by the increasing growth of the healthcare industry in developing countries, particularly China and India.
Top key vendors in the market:
The report mentions a list of key players in the Sterilization Services Market. Some of them are mentioned below –
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