With the high usage of complex equipment across medical and food processing facilities, the sterilization services are an important practice for a healthy ecosystem. The healthcare facilities constantly require three processes which include cleaning, disinfection, and sterilization. There are several policies being adopted at the national level by the government and individual companies which drives the demand for sterilization services particularly related to devices used for a healthy lifestyle. In healthcare facilities, hospital-acquired infections also play a crucial role to include the sterilization methods on a regular basis. The technological advancements and awareness in society in recent years have increased with the growing number of the population seeking a healthy lifestyle and better facilities across industries. Such factors drive sterilization services demand. However, there are certain restraining factors such as harmful effects of certain chemical agents, absence of right manuals to performs improved and better sterilization service across a system in a limited period of time.
Key Market Trends
Hospitals and Clinics are Estimated to Hold Major Share Over the Forecast Period
There is growth in the number of multispeciality hospitals and clinics across many countries in recent years. There is constant pressure of reducing waiting times and improving diagnostics processes for a wide range of diseases. The patient's pool has also increased significantly in several major tier I and tier II cities of many countries. The demand for a healthy lifestyle and improved awareness by societies drives the demand for sterilization facilities. Moreover, with consistent growth in the number of surgical procedures, the use of medical devices and supplies have increased rapidly. Therefore, by end-users, the hospitals and clinics are expected to hold major share over the forecast period.
North America is Estimated to Have Largest Share in the Global Market
In the United States, high patient admission rates, technological advancements in healthcare facilities, more healthcare expenditure from the government, better distribution channels by sterilization services companies as well as better reimbursement policies are driving the market studied. Medical tourism from several emerging market also drives the growth of this market. Moreover, an as large number of companies first attempt to get the approval of medical devices particularly by the US FDA, the US and Canada become an integral part of revenues generation for instruments across major industries such as healthcare, food processing, and healthcare-based companies. In addition, the policies are well defined by the government regarding the use of services across healthcare facilities, which drives the usage and importance of sterilization services market, over the forecast period.
The major market players are focusing on technological advancements and investing more upon the services to the established facilities across industries. Some of the major players in the market are Johnson & Johnson, Steris Corporation, Stryker Corporation, Medistri, and Cantel Medical, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support