Northbrook, IL 60062 -- (SBWIRE) -- 10/04/2022 -- The global sterilization services market is projected to reach USD 5.5 billion by 2026, growing at a CAGR of 6.0% during the forecast period.

Growing prevalence of hospital-acquired infections (HAIs);

Hospital-acquired infections (HAIs) are nosocomial infections that occur during a patient's stay at hospitals and related facilities and are not observed at the time of admission. Over the years, they have become a major cause of morbidity and mortality worldwide. The most common bacteria associated with HAIs include C. difficile, MRSA, Klebsiella, E. coli, Enterococcus, and the Pseudomonas species. Using infected medical devices during diagnostic and therapeutic procedures is a major cause of HAIs.

According to the Centers for Disease Control and Prevention (CDC), up to 1.7 million hospitalized patients in the US annually acquire healthcare-associated infections (HCAIs) while being treated for other health issues, and more than 98,000 of these patients (one in 17) die due to HCAIs. In addition, 32% of all HAIs in the country are urinary tract infections, 22% are surgical-site infections, 15% are lung (pneumonia) infections, and 14% are bloodstream infections. According to the US Census Bureau, the number of individuals aged 65 and above was estimated at 52.3 million in 2019; this figure is expected to increase to 83.7 million by 2050. The rising geriatric population and the increasing incidence of chronic diseases will result in increased hospitalization rates, which, in turn, will increase the occurrence of HAIs. This is expected to boost the demand for sterilization services of medical instruments and other devices.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=183597324

The ethylene oxide (EtO) sterilization segment is expected to account for the largest share of the sterilization services market in 2020

Based on method, the market has been classified into ethylene oxide (EtO) sterilization, gamma sterilization, electron beam (e-beam) radiation sterilization, steam sterilization, x-ray irradiation, and other sterilization methods. The ethylene oxide (EtO) sterilization segment accounted for the largest share of this market in 2020. The large share of the ethylene oxide segment can be attributed to its extensive usage in various applications, including medical device sterilization, food testing, pharmaceutical sterilization, and sterilization and disinfection in the life sciences industry.

The contract sterilization services segment is expected to account for the highest CAGR during the forecast period

Based on type, the sterilization services market has been segmented into contract sterilization services and sterilization validation services. The contract sterilization services segment accounted for the highest CAGR of the sterilization services market during the forecast period. The growing preference for contract sterilization by medical device companies and the increasing outsourcing of sterile processing by hospitals to specialized third-party vendors to reduce in-house costs related to sterilization are the major factors driving the growth of this segment.

Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=183597324

North America is expected to account for the largest share of the sterilization services market in 2020

In 2020, North America accounted for the largest share of the sterilization services market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Market growth in North American region is characterized by the growing demand and adoption of sterilization services because of the rising focus on healthy lifestyles and disease prevention among consumers. A surge in the geriatric population in the coming years and the subsequent increase in the prevalence of chronic diseases, the need for sterilization services to minimize the prevalence of HAIs, and implementation of favorable government initiatives and stringent regulations for sterilization services are also propelling the sterilization services market in the region.

Key Market Players;

The prominent players in sterilization services market are STERIS plc (US) Sotera Health Company (US) Stryker Corporation (US) Advanced Sterilization Products (ASP, US) E-BEAM Services, Inc. (US), MMM Group (Germany), Belimed AG (Switzerland), BGS Beta-Gamma-Service GmbH & Co. KG (Germany), Medistri SA (Switzerland), and Noxilizer, Inc. (US).

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=183597324