Sterilization Redefined: Terminal Sterilization Services Global Insights 2024

"The Business Research Company recently released a comprehensive report on the Global Terminal Sterilization Services Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The terminal sterilization services market size has grown rapidly in recent years. It will grow from $11.62 billion in 2023 to $12.9 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to increasing stringency of regulatory standards, rise in healthcare expenditure, growing demand for sterile medical devices, increasing number of surgical procedures, globalization of pharmaceutical manufacturing.

The terminal sterilization services market size is expected to see rapid growth in the next few years. It will grow to $20.23 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to rapid expansion of biopharmaceutical industry, demand for sterilization of single-use medical devices, focus on outsourcing sterilization processes, rise in contract sterilization services, globalization of medical device manufacturing, increased adoption of sterile packaging. Major trends in the forecast period include rising outsourcing trends, advancements in sterilization technologies, focus on single-use devices, stringent regulatory compliance, focus on environmental sustainability.

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Market Drivers and Trends:

The increasing incidence of hospital-acquired infections is expected to propel the growth of the terminal sterilization services market going forward. Healthcare-associated infections, also known as hospital-acquired infections, are nosocomially acquired infections that are neither present nor incubating at the time of hospital admission. Terminal sterilization is a mandatory process in hospitals for medical devices and instruments, especially those that are inserted into the patient's body after every use, to avoid contamination and protect the patients from hospital-acquired infections. For instance, in May 2022, according to reports by the World Health Organization, a Switzerland-based health agency, more than 24% of patients worldwide were affected by healthcare-associated infections in 2022. Furthermore, according to the Centers for Disease Control and Prevention (CDC), a US-based government agency, in the US, there were estimates that hospital-acquired infections accounted for an estimated 1.7 million infections and 99,000 associated deaths each year, and additionally, 32% of all healthcare-acquired infections in the US by 2022. These numbers are expected to rise in the future. Therefore, the increasing incidence of hospital-acquired infections drives the market for terminal sterilization services.

Major companies operating in the terminal sterilization services market are focused on developing next-generation VHP such as VHP Biodecontamination Systems in response to the need for advanced solutions. Vaporized Hydrogen Peroxide (VHP) bio-decontamination systems are advanced technologies designed to achieve a significant reduction in bioburden. For instance, in September 2021, Steris, a US-based provider of products and services that support patient care, launched VHP 100i and 1000i vaporized hydrogen peroxide biodecontamination systems, designed for a 6-log reduction in bioburden in pharmaceutical, medical device, and research settings. These systems can be seamlessly integrated into building automation and HVAC systems, enabling convenient and frequent decontamination of various environments. In contrast to fogging systems, Steris VHP offers a dry, small-molecule process that is compatible with diverse surface materials, including sensitive electronic equipment.

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Major Key Players of the Market:

Steris plc; Getinge Group; Advanced Sterilization Products Services Inc.; 3M Company; Belimed AG; Sterigenics International LLC; TSO3 Inc.; Olympus Corporation; Matachana Group; Andersen Sterilizers Inc.; Steelco S.P.A; Fedegari Group; Sotera Health Co.; E-BEAM Services Inc.; BGS Beta-Gamma-Service GmbH & Co. KG; Stryker Corporation; Medistri SA; Noxilizer Inc.; H.W.Andersen Products Ltd.; Cosmed Group; Cretex Companies Inc.; Life Science Outsourcing Inc.; MICROTROL Sterilisation Services Pvt. Ltd.; Avantti Medi Clear; Steripure SAS; Europlaz Technologies Limited; Centerpiece Holdings LLC; Midwest Sterilization Corporation; Blue Line Sterilization Services LLC; Johnson And Johnson

Terminal Sterilization Services Market 2024 Key Insights:

• The terminal sterilization services market size will grow to $20.23 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%.
• Rising Hospital-Acquired Infections Propel Growth In Terminal Sterilization Services Market
• Next-Generation Vhp In Response To The Need For Advanced Solutions
• North America was the largest region in the terminal sterilization services market in 2023

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