In light of escalating global concerns about hospital-acquired infections and surgical procedures’ need for rigorous infection prevention and control protocols, the sterilization services market is experiencing exponential growth. This expansion reflects combined driving forces including the burgeoning geriatric populace, the growing prevalence of chronic diseases such as diabetes, cancer, and heart disease, and government initiatives emphasizing infection prevention. In 2022, the internationally accumulated revenue from these market services attained US$ 3.4 billion. With projections pointing towards a compound annual growth rate of 6.8%, the market value is expected to approximately double, reaching a value of US$ 7.1 billion by 2033.
Accelerated technological developments in sterilization equipment and a marked increase in the outsourcing of sterilization services from hospitals, pharmaceutical, and medical device companies are set to contribute significantly to this booming market. However, market expansion faces challenges with safety concerns regarding reprocessed instruments, whilst high-growth potential in emergent countries promises potentially profitable openings. With the outbreak of COVID-19 leading to a global health emergency, effective sterilization processes of medical equipment emerged as crucial in preventing further virus spread in healthcare settings. Reprocessed equipment, particularly imperative for respiratory care devices, reusable haemodialysis machines, and endoscopic devices, saw a significant increase in use for sterilizing or disinfecting medical devices.
Consequently, the demand for disinfection services experienced a positive surge, guaranteeing proper medical device sterilization during the COVID-19 outbreak. Keeping abreast of these latest developments is essential for infection prevention professionals. The World Health Organization’s 2022 report on Infection Prevention and Control highlighted the prevalence of hospital-acquired infections (HAIs) as a key driver of the Sterilization Services Market. HAIs typically occur during a patient’s time spent at the hospital and include several types, such as central line-associated bloodstream infections, surgical-site infections, and hospital-acquired pneumonia.
These infections are primarily caused by the use of infected medical devices during diagnostic and therapeutic procedures, emphasizing the crucial need for effective sterilization services. Emerging markets like India and China, housing over half of the world’s population, present enticing opportunities for the sterilization services market. The quality of hospital care demanded by the public, the economic burden of healthcare-associated infections, and the rise of multi-drug-resistant microorganisms are contributing factors in these areas. With continuous advancements in technology and consequent enhancements in existing sterilization tools and equipment, new and innovative methods are being developed, further driving the sterilization services market’s expansion.