The global terminal sterilization services market is on a trajectory for significant growth, driven by a surge in demand for proper sanitation and sterilization across various healthcare and research sectors. According to a recent report by Future Market Insights, the market size was valued at US$ 10.2 billion in 2022 and is projected to reach a staggering US$ 33.5 billion by 2032, reflecting a compound annual growth rate (CAGR) of 12.7%.
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.
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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)
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