Contract Sterilization Market Growth Potential: Key Insights for 2024-2033
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What is the Expected Growth Rate of the Contract Sterilization Market from 2024 to 2033?
The contract sterilization market has also seen strong growth, expected to rise from $4.84 billion in 2023 to $5.28 billion in 2024 at a CAGR of 9.1%. Contributing factors include a surge in the medical device reprocessing industry, an aging population, an increase in surgical procedures, rising healthcare investments, and a higher incidence of chronic diseases.
The contract sterilization market is projected to grow to $7.60 billion by 2028 at a CAGR of 9.5%. This growth is driven by the increasing adoption of single-use medical devices, a heightened focus on patient safety and infection control, the expanding use of ethylene oxide sterilization, and rising demand from pharmaceutical companies. Trends include innovations in low-temperature sterilization technologies, eco-friendly sterilization processes, automation in sterilization equipment, electron beam sterilization, and the development of mobile sterilization units.
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What Key Factors Are Fueling the Growth of the Contract Sterilization Market?
The rising incidence of hospital-acquired infections (HAIs) is expected to drive the growth of the contract sterilization market. HAIs are infections that patients acquire during hospital stays, often due to antibiotic resistance and the use of invasive medical devices. Contract sterilization services help reduce the risk of HAIs by ensuring medical devices and equipment are thoroughly sterilized. The European Centre for Disease Prevention and Control reported that 4.3 million patients in the EU/EEA contract an HAI annually. As the incidence of HAIs rises, the demand for contract sterilization services is also increasing.
What Are the Major Segments of the Contract Sterilization Market?
1) By Type: Ethylene Oxide, Gamma Irradiation, Electron Beam, Plasma Sterilization, Vaporized Hydrogen Peroxide
2) By Product: Physical Methods, Chemical Methods, Mechanical Methods
3) By Application: Medical Devices, Pharmaceuticals, Food And Beverage, Cosmetics
What New Trends Are Transforming the Contract Sterilization Market?
Companies in the contract sterilization market are focusing on medical device sterilization solutions to meet the growing demand for efficient and safe methods. In April 2021, ClorDiSys Solutions received FDA approval for chlorine dioxide gas to sterilize medical devices. This gas offers a safer alternative to ethylene oxide, sterilizing complex devices in less time, especially those with embedded batteries such as pacemakers and defibrillators.
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Which Regions Are Driving Growth in the Contract Sterilization Market?
North America was the largest region in the contract sterilization market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contract sterilization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Contract Sterilization Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the contract sterilization market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Contract Sterilization Market Include
1. Contract Sterilization Market Executive Summary
2. Contract Sterilization Market Segments
3. Contract Sterilization Market Size And Template Market Growth Rate
4. Key Contract Sterilization Market Trends
5. Major Contract Sterilization Market Drivers
……
25. Key Mergers And Acquisitions In The Contract Sterilization Market
26. Top Contract Sterilization Companies
27. Contract Sterilization Market Opportunities And Strategies
28. Contract Sterilization Market, Conclusions And Recommendations
29. Appendix
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