Sterilization Services Market Analysis with business growth strategies

The global sterilization services market is projected to reach USD 3.31 billion by 2022 from USD 2.39 billion in 2017, at a CAGR of 6.7%. The market is consolidated at the top with two leading players, namely, STERIS (UK) and Sterigenics International (US) capturing around 55% to 60% share of the market. The rest of the market is fragmented with many local or regional players consolidating the remainder of the market share.

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STERIS held the first position in the global sterilization services market with around 40%–45%% of market share in 2016. The company provides a comprehensive range of sterilization services to medical, life sciences, pharmaceutical & biotechnology, and food & beverages industries. With its wide presence and high number of sterilization facilities spread across the globe, STERIS remains the largest provider of contract sterilization services to various end users. The company offers contract sterilization services, such as gamma irradiation, e-beam, EtO, and steam sterilization to the medical device, pharmaceutical, food, and consumer sectors. The company also focuses to provide services based on other emerging sterilization methods, such as x-ray sterilization services. STERIS has been actively involved in advancing its business by augmenting its presence in the sterilization services market. In this regard, the company acquired Synergy Health plc (UK) for USD 1.9 billion. This acquisition enabled the company to strengthen its presence in the global infection prevention and sterilization market, by helping it provide more comprehensive solutions to medical device and pharmaceutical companies, hospitals, and other healthcare facilities.

Sterigenics accounted for a share of 10–15% of the contract sterilization services market in 2016. The company provides contract sterilization and ionization services for the medical device and pharmaceutical industries using ethylene oxide (EO), gamma, and electron beam (E-Beam) irradiation. With around 47 facilities across 13 countries globally, the company focuses on expansions and acquisitions to further strengthen its position in this market. The company intends to acquire other leading players in the sterilization services market to augment its service portfolio and geographic footprint. In April 2016, Sterigenics expanded its laboratory services portfolio through the acquisition of Nelson Laboratories, Inc. (US), a leading provider of life-cycle microbiology testing services for the medical devices, pharmaceutical, and tissue industries in the US.

Moreover, the company aims to provide advanced sterilization methods and services to its end users through strategic agreements and collaborations with other emerging players in the market. Recently, the company entered into a global agreement with Noxilizer Inc. (US) to provide nitrogen dioxide (NO2) contract sterilization services to the pharmaceutical, biotech, and medical device manufacturing industries across the globe.

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