According to a Future Market Insights report, the Global Terminal Sterilization Services Market size was estimated at approximately US$ 10.2 Billion in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 12.7% from 2022 to 2032, ultimately reaching a value of US$ 33.5 Billion by the end of 2032.
Several factors are driving the market’s growth, including a high incidence of chronic illnesses, an increase in the frequency of Healthcare Acquired Infections (HAIs), and the impact of the COVID-19 pandemic. COVID-19 has resulted in a surge in demand for sterilizing materials such as heat sterilizers and ethylene oxide. The usage of sterilization equipment and services has also increased in hospitals, clinics, diagnostic labs, pharmaceutical manufacturing units, and the biopharmaceutical industry, as there is a significant requirement for effective sanitization of equipment and surroundings.
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Increased awareness about diseases and infections caused by non-sterile settings and a significant increase in funding for hospital infrastructure, research, and public health adaptation to terminal sterility have contributed to the market’s momentum in recent years.
Companies can develop a sterilization program using the voluntary consensus standards established by the Association for the Advancement of Medical Instrumentation (AAMI) and ISO criteria without requiring a large and time-consuming Sterilization technology department. These standards also serve as a reference point for regulatory agencies such as the FDA when determining product sterility.
Key Takeaways:
- The United States is predicted to have the largest market, worth $9.5 billion, by the end of 2032.
- From 2022 to 2032, the market in the United Kingdom is estimated to provide an absolute dollar potential of US$ 1.4 billion.
- The market in Japan is expected to reach US$ 1.7 billion by 2032.
- From 2022 to 2032, the Ethylene Oxide market is expected to develop at the fastest CAGR of more than 14%.
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North America to remain the largest market for Terminal Sterilization Services
North America is predicted to account for the largest share of the global terminal sterilization services market during the forecast period. A huge client base, greater usage of enhanced sterilization technologies, and highly modern health-care infrastructure are projected to propel the market in North America in the next years.
Competitive Landscape
Some of the key players in the terminal sterilization services market include Johnson And Johnson, DuPont, Steris Plc, Getinge Group, Cantel Medical, Matachana Group, Sterigenics International LLC, and Olympus Corp.
The following are some of the most recent developments from key terminal sterilization service providers:
- Amcor announced the development of a novel healthcare lidding technology in August 2021, which would be used for combination items containing two or more regulated components.
- Johnson & Johnson stated in April 2019 that it has completed the sale of its Advanced Sterilization Products (ASP) business, a part of Ethicon, Inc., to Fortive Corporation for an estimated US$ 2.8 billion.
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Market Segments Covered in Terminal Sterilization Services Market Analysis
By Type:
- Ethylene Oxide
- Irradiation
- Moist Heat Terminal sterilization
- Other Types
By End Uses:
- Hospitals & Clinics
- Pharma
- Other End-uses
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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