Fact.MR – A Market Research and Competitive Intelligence Provider: The global terminal sterilization market is expected to increase at a positive rate from 2021 to 2031.
Recent Spread of Covid-19 has Led to Proliferating Growth of Terminal Sterilization Market
The market research study conducted by Fact.MR presents a deep-dive assessment of key factors affecting the pace of the terminal sterilization market growth. The report also discloses insights into terminal sterilization demand outlook in terms of sterilization type, technology, and end user during the assessment period
Fact.MR – A Market Research and Competitive Intelligence Provider: The global terminal sterilization market is expected to increase at a positive rate from 2021 to 2031. The rising global prevalence of chronic and infectious diseases such as autoimmune diseases, diabetes, cancer, and others is driving the market.
The prevalence of autoimmune disorders and cancer has risen dramatically in recent years. The global spread of infectious illnesses and COVID-19 has escalated the demand for terminal sterilization.
According to the American Cancer Society, approximately 1.9 million new cancer cases were diagnosed in the United States, with 608,570 cancer deaths reported. In addition, rising COVID-19 cases, particularly in India, have increased the demand for terminal sterilization around the world.
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The United States continues to be one of the world’s leading markets for terminal sterilisation. According to Fact.MR, the United States will maintain a considerable market share over the forecast period. Key pharmaceutical corporations have stated their intentions to invest in manufacturing facilities in the United States. For example, Eli Lilly said in 2018 that it would invest $72.0 million in an insulin manufacturing project in the United States. As a result, demand for terminal sterilization will increase throughout the forecast period of 2021-2031.
To reduce the danger of infection, hospitals, pharmacies, and healthcare institutions must sterilize and disinfect on a regular basis. According to Fact.MR, the sterilization industry will see lucrative growth possibilities over the next decade, owing to the increased demand for sterilization around the world.
“Key companies are increasing the manufacturing of sterilization equipment owing to the surge in need for terminal sterilization due to unprecedented outbreak of COVID-19. Their expansion strategies are expected to aid growth registered by the market in the coming years,” says the Fact.MR analyst.
Key Takeaways:
- Pharmaceutical companies are expected to be the primary end-users, backed by increased research and development activities.
- Based on sterilization type, ethylene oxide is expected to dominate the segment due to a wide range of benefits offered by this method, such as simple penetration, broad material compatibility, and large sterilization volume.
- Due to the adaptation of the aseptic environment in healthcare institutions, the United Kingdom and Germany are likely to be the most lucrative markets in Europe’s terminal sterilization industry.
- Due to the high prevalence of leading firms, the United States will continue to be one of the top markets for terminal sterilization throughout the projection period.
- With the rising frequency of chronic diseases in the country, Canada and India are projected to emerge as prospective markets.
Growth Drivers:
- The terminal sterilization market is predicted to rise due to the rising prevalence of hospital-acquired diseases.
- Rising cases of surgical procedures and focus on sterilization and disinfection of medical equipment to improve the growth
- Growth will be aided by the expansion of the pharmaceutical and biotechnology industries throughout the projection period.
- Outsourcing of terminal sterilization services will propel growth in the next ten years.
Key Restraints
- Noncompliance with sterilization standards and strict rules prohibiting terminal sterilization are likely to stymie demand.
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Competitive Landscape:
Presence of numerous established companies has led to market consolidation, estimates Fact.MR. Key companies are investing heavily in manufacturing facilities across the globe to establish their footprints globally.
Some of the leading players are focusing on mergers and acquisitions to strengthen their position in the industry. For instance,
- In April 2021, MediZAP, North America’s leading provider of e-beam terminal sterilization for compounded pharmaceuticals, announced a partnership with Analytical Lab Group, which is now a part of Element Materials Technology, to provide sterile compounding testing, analytical chemistry, and other services to pharmaceutical clients.
- In March 2021, Sterigenics SAS, a subsidiary of Sotera Health and a global leader in comprehensive sterilization services, stated that it would expand its ethylene oxide facility in France to improve European sterilization capacity.
Some of the prominent players profiled by Fact.MR are:
- Johnson and Johnson
- DuPont
- Steris Plc
- Getinge Group
- Advanced Sterilization Products Services Inc.
- 3M
- Belimed
- Cantel Medical
- Matachana Group
- Sterigenics International LLC
- Olympus Corp
- TSO3
- Celitron
- MMM Group
- Fedegari Group.
More Valuable Insights on Terminal sterilization Market
Fact.MR, in its new report, offers an unbiased analysis of the global terminal sterilization market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in the terminal sterilization market with detailed segmentation:
By Sterilization Type:
- Ethylene Oxide
- Irradiation
- Moist Heat Sterilization
- Vaporized Hydrogen Peroxide
By Technology:
- Gravity
- Vacuum
- Steam
- Forced convention
- Natural convention
By End User:
- Gravity
- Vacuum
- Steam
- Forced convention
- Natural convention
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Key Questions Covered in the Terminal Sterilization Market Report
- The report offers insight into terminal sterilization demand outlook for 2021-2031
- The market survey also highlights projected sales growth for the terminal sterilization market between 2021 and 2031
- Terminal sterilization market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Terminal sterilization market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others.
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Source: Fact.MR