Sterilization Services Market - Increasing Awareness Regarding Workplace Wellness to Drive the Market Growth

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NEW YORK, Aug. 10, 2022 /PRNewswire/ -- The STERILIZATION SERVICES MARKET by Type (Validation services and Contract services) and Geography (North America, Europe, Asia, and Rest of World (ROW)) - Forecast and Analysis 2022-2026 report has been added to Technavio's offering. The market value is set to grow by USD 1.41 billion, progressing at a CAGR of 6.1% from 2021 to 2026. The Y-O-Y growth rate of 2022 is estimated at 5.5% and 43% of the market's growth will originate from North America during the forecast period. With ISO 9001:2015 certification, Technavio is delivering key market insights to more than 100 Fortune 500 companies for over 16 years.

Technavio has announced its latest market research report titled Sterilization Services Market by Service and Geography - Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Sterilization Services Market by Service and Geography - Forecast and Analysis 2022-2026

Sterilization Services Market: Segmentation by Region

43% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for sterilization services in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions. The rising awareness of industries toward the benefits of adopting sterilization services from a specialized vendor will facilitate the sterilization services market growth in North America over the forecast period.

Sterilization Services Market: Segmentation by Type

The sterilization services market share growth in the validation services segment will be significant during the forecast period. The increasing levels of hygiene are significant in industries such as healthcare and manufacturing due to the direct health impact of any potential contamination or infection. Therefore, the increase in healthcare spending across the globe is a major driver for the growth of validation services in the global sterilization services market during the forecast period.

Browse Summary of the STERILIZATION SERVICES MARKET Research Report to Learn More

Sterilization Services Market: Key Market Dynamics

  • Market Driver

One of the key factors driving growth in the sterilization services market is the increasing awareness regarding workplace wellness. Industrial hygiene involves anticipation, recognition, and evaluation of the factors that are hampering the work environment. Typical roles of sterilization and hygiene include investigating workplace hazards and potential threats to the industry. After making the deliverables clear to the workers, research must be conducted to assess the factors that are causing harm in the workplace and are a potential threat to the instruments which are used regularly in different industries including, pharmaceutical, healthcare, and chemical. The rising emphasis on workplace wellness not only supports providing a healthy work environment for employees but also aims to enhance productivity extensively. The proper cleaning of offices aims to prevent the spread of germs that can cause health issues among employees, resulting in work absenteeism and reduced productivity. Such factors are driving the growth of the global sterilization services market.

  • Market Challenge

The unskilled labor and unregulated services causing damage will be a major challenge for the sterilization services market during the forecast period. The use of wrong techniques for sterilization can result in extensive damage to the manufacturing industries or hospital assets. The industries or hospitals are generally equipped with expensive equipment and medical instruments, and any damage can cost the company a hefty amount in repairing the damages. The industrial properties are sensitive to the methods used for sterilization. Sometimes while sterilizing the place, a cleaner can get injured due to a lack of focus, for which the sterilization services vendor must pay the employee's medical expenses. Moreover, if a company works on a single machinery system and it gets damaged during cleaning, the company might run out of business for some days, incurring a huge loss in the market. Such factors can hamper the growth of the global sterilization services market.

DOWNLOAD FREE STERILIZATION SERVICES MARKET SAMPLE REPORT to learn about additional key drivers, trends, and challenges available with Technavio.

The sterilization services market report also offers information on several market vendors, including ASP Global Manufacturing GmbH, B. Braun SE, BGS Beta Gamma Service GmbH and Co. KG, Cantel Medical., Cosmed Group, Cretex Co. Inc., E BEAM Services Inc., Fortive Corp., H.W.Andersen Products Ltd., Life Science Outsourcing Inc., Medistri SA, Medline Industries Inc., Metall Zug AG, Midwest Sterilization Corp., MMM Group, Noxilizer Inc., Scapa Group Plc, Sotera Health Co., STERIS Plc, and Stryker Corp. among others.

Sterilization Services Market: Related Reports

Browse Summary of the STERILIZATION EQUIPMENT MARKET Research Report by Product and Geography - Forecast and Analysis 2022-2026: The market value is set to grow by USD 3.70 billion, progressing at a CAGR of 7.93% from 2021 to 2026, as per the latest report by Technavio. The sterilization equipment market report also offers information on several market vendors, including 3M Corp., ACMAS Technologies Pvt. Ltd., Andersen Sterilizers, and more.

Browse Summary of the STERILIZATION MARKET Research Report by Type and Geography - Forecast and Analysis 2020-2024: The market value is set to grow by USD 2.08 billion, progressing at a CAGR of almost 7% from 2019 to 2024, as per the latest report by Technavio. Although the high prevalence of hospital-acquired infections will offer immense growth opportunities, risks associated with sterilization will challenge the growth of the market participants.

Sterilization Services Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.1%

Market growth 2022-2026

$ 1.41 billion

Market structure

Fragmented

YoY growth (%)

5.5

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 43%

Key consumer countries

US, Canada, Germany, UK, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ASP Global Manufacturing GmbH, B. Braun SE, BGS Beta Gamma Service GmbH and Co. KG, Cantel Medical., Cosmed Group, Cretex Co. Inc., E BEAM Services Inc., Fortive Corp., H.W.Andersen Products Ltd., Life Science Outsourcing Inc., Medistri SA, Medline Industries Inc., Metall Zug AG, Midwest Sterilization Corp., MMM Group, Noxilizer Inc., Scapa Group Plc, Sotera Health Co., STERIS Plc, and Stryker Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio "HEALTH CARE MARKET" Research Reports

Key Topics Covered:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Type

  • 5.1 Market segments

  • 5.2 Comparison by Type

  • 5.3 Validation services - Market size and forecast 2021-2026

  • 5.4 Contract services - Market size and forecast 2021-2026

  • 5.5 Market opportunity by Type

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2021-2026

  • 7.4 Europe - Market size and forecast 2021-2026

  • 7.5 Asia - Market size and forecast 2021-2026

  • 7.6 Rest of World (ROW) - Market size and forecast 2021-2026

  • 7.7 US - Market size and forecast 2021-2026

  • 7.8 Germany - Market size and forecast 2021-2026

  • 7.9 UK - Market size and forecast 2021-2026

  • 7.10 Canada - Market size and forecast 2021-2026

  • 7.11 China - Market size and forecast 2021-2026

  • 7.12 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 ASP Global Manufacturing GmbH

  • 10.4 BGS Beta Gamma Service GmbH and Co. KG

  • 10.5 E BEAM Services Inc.

  • 10.6 Medistri SA

  • 10.7 Metall Zug AG

  • 10.8 MMM Group

  • 10.9 Noxilizer Inc.

  • 10.10 Sotera Health Co.

  • 10.11 STERIS Plc

  • 10.12 Stryker Corp.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

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