Published on : Feb 22, 2021
Albany, New York, April 07, 2020: ResearchMoz.us has announced the addition of a report, titled “Global Medical Device Sterilization Service Market Size, Status and Forecast 2020-2026”. The report on the Global Medical Device Sterilization Service Market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application.
Further, on the basis of type, the global medical device sterilization service market is sub-divided into EO/EtO Sterilization Services, E-beam Sterilization Services, Gamma Sterilization Service, and Others. And, on the basis of application, it s sub-divided into Hospitals, and Medical Device Manufacturers.
As per the global medical device sterilization service market report, from 2020 to 2026, it will chart a sturdy growth trajectory owing to a number of factors. The robust compound annual growth rate would lead to a number of opportunities – gainful and lucrative – for players to tap into.
A wide array of processes is used to eliminate life forms such as virus, spores, bacteria, fungi, and prions from the surface of medical equipment. The market is set to witness growth in demand owing to need for better services. Besides, over the forecast period, there would be noted an increase in numbers of geriatric population.
As per a study on demographics, one in every six people in the world would be aged 65 and above by the year of 2050. The number in the regions of North America and Europe are going to be steep. By 2050, people aged 65 and above would be one in every four. Another interesting fact related to demographics is that history was created in the year 2018 when the number of geriatrics surpassed that of children below the age of six. Age group of geriatric was 65 and above.
Another significant factor driving growth in the global medical device sterilization service market is the increase in incidence of hospital acquired infections (HAI). Contracted usually during a hospital stay of a patient, these lead to pneumonia, gastroenteritis, and surgical site infections. This brings to fore the need for medical device sterilization in hospitals, especially for equipment that penetrates parenteral fluids, and body site.
The vendor landscape of global medical device sterilization service market is fragmented and top players in the market, which are also covered in the report include STERIS, PRO-TECH, OTS, Strigenics, Blue Line Sterilization Services, E-BEAM Services, Synergy Health, Nutek Corporation, Miswest Sterilization Corporation, Eagle Medical, Inc., Shanghai BQ Medical, GOALS, and Ionisos China, among others.
One of the restraints that are hampering growth in the market is high costs associated with sterilization of medical equipment. Besides, maintenance costs and replacement issues often deter customers from purchasing the same. Besides, sterilizers that require steam need a constant source - electricity and water. This also adds to utility costs. Additionally, harmful gases are often produced in the process, and this has now stringent regulations against it in a number of countries. However, the plethora of growth factors will counteract the negative influence of restraints.
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On the basis of region, the segmentation includes North America, Europe, China, Japan, South-East Asia, India, and Central and South America. Regional markets that will keep the players hooked to the landscape are North America and Asia Pacific (APAC). Stringent safety regulations and a robust healthcare infrastructure will underscore growth in the former. On the other hand in the APAC region, a large patient pool and push for improved healthcare outcome will drive growth.